Reference the following information about the market demand function for questions 1 to 5. These questions are on different types of market structures - monopoly, perfect competition, Cournot oligopoly market, and the Stackelberg oligopoly market.

The market demand function is given the following equation:P = 4000 - Qwhere Q is the industry's output level.

Question 1

Can you calculate theconsumer surplusgenerated in the monopoly market?

$1805,000

$1850,000

$1900,000

$1950,000

Question 2

Now suppose two firms supply this market instead of one firm. Thus,Q = Q1 + Q2where Q1 denotes the output produced by firm 1 and Q2 denotes the output produced by firm 2.

What are the levels of equilibriumoutput produced byfirm 1 and firm 2 in theCournot model equilibrium?

Marginal profit function of firm 1 = 3800 -2Q1 - Q2

Marginal profit function of firm 2 = 3800 - Q1 - 2Q2

1036.54, 1036.54

1126.55, 1126.55

1266.67, 1266.67

1284.36, 1284.36

Question 3

What will thetotal industry outputproduced when firms engage inCournot market competition?

2568.72

2533.34

2253.10

2073.08

Question 4

What will be theequilibrium market pricein the Cournot model?

$866.64

$1066.66

$1466.66

$1476.66

Question 5

What will be theprofitearned by each of the symmetric firms in the Cournot market equilibrium?

$1406,660.22 and $1406,660.22

$1604,440.22 and $1604,440.22

$1646,660.22 and $1646,660.22

$1466.440.22 and $1466,440.22