1. A monopoly faces demand given by Q = 200 – P. The marginal cost MC = $10 isconstant. The marginal revenue MR = 200 – 2Q.a. Graphically show the monopoly’s equilibrium.b. What is the equilibrium price and quantity?c. What are the profits earned by the monopolist?d. Suppose the government forces the monopolist to behave like a Competitive firm.What will be equilibrium price and quantity now? What will be the firm’s profits?2. Assume the Market Demand is given by Q = 300-2P, and MC=AC=30. Computethe price, quantity, consumer surplus, profits, and DWL under the following marketstructures:a) Perfect competitionb) Monopolyc) Perfectly price discriminating monopoly