Consider the market represented by the figure to the right. Suppose this market has one firm.If the firm can only charge a single price, what is this firm's profits (when maximizing profits)? The figure tothe right asumes the firm has no fixed costs.The firm earns profits of $(Enter a numeric response using rounded to two decimal places.)(Enter a numeric response usingCorrespondingly, remaining surplus available to consumers is $rounded to two decimal places.)Now suppose the firm is able to capture all consumer surplus by charging different prices to differentcustomers.The firm now eams profits of $. (Enter a numeric response using rounded to two decimal places.)In turn, remaining surplus available to consumers is $(Enter a numeric response using rounded to twodecimal places.) $ per unit100.00-90.00-80.0070.00--00 0950.00-40.00-30.00-20.00-10.00-0102030MR40 50QuantityOK0970MC=ATCD0990100

Monopoly refers to the single firm in the market. Monopoly firm has market power to fix the price.…

Consider the market represented by the figure to the right. Supp If the firm can only charge a single price, what is this firm's profits (when maximizing profits)? The figure the right asumes the firm has no fixed costs. The firm ears profits of $ (Enter a numeric response using rounded to two decimal places.) Correspondingly, remaining surplus available to consumers is $. (Enter a numeric response using rounded to two decimal places.) Now suppose the firm is able to capture all consumer surplus by charging different prices to different customers. The firm now eams profits of $ (Enter a numeric response using rounded to two decimal places.) In turn, remaining surplus available to consumers is $ (Enter a numeric response using rounded to tw docimal places)