This graph represents a monopoly (a single-price monopolist who profit-maximizes) with constant marginal cost (assume fixed costs are zero).

a. How much consumer surplus? Show calculation.

b. What are the firm profits? Show calculation.

c. If this industry was competitive what would consumer surplus be? Show calculation.

d. Does the monopoly benefit or harm society? How do we measure this? Show the calculation and interpret the result.

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