The table below gives the total costs for a typical firm in a competitive industry. 
(A)Suppose the price per unit of output is $11.What is the profit-maximizing level of production?
(B)Suppose a firm is able to monopolize this industry.Sketch a diagram showing what will happen to the total amount of consumer and producer surplus.
(C)Calculate the deadweight loss of the monopolist.
Definitions:
Piece Rate Plan
A compensation strategy where workers are paid a fixed rate for each unit of production completed, incentivizing efficiency and productivity.
Office Furniture Maker
A company or individual specialized in designing and manufacturing furniture for office environments.
Units Produced
A measure of output from a production process, indicating the total number of complete units manufactured during a specific period.
Problematic Merit Pay
Refers to issues and challenges associated with merit pay systems, where salary increases are based on performance, leading to potential biases and unfair evaluations.
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