On the monopoly firm graph above, draw each of the
following:
*Draw a marginal cost curve (MC).
*Monopoly profit-maximizing P (P) and Q (Q).
*Draw an ATC where the monopoly is earning an
 economic profit > 0.
*Shade in the area of economic profit.
ERASE
*Draw a marginal cost curve (MC).
**Monopoly profit-maximizing P (P) and Q (Q).
*Draw an ATC where the monopoly is earning an
 economic profit = 0.  
(NOTE:  The ATC must be tangent to the D = P line at one point only).
ERASE
*Draw a marginal cost curve (MC).
*Monopoly profit-maximizing P (P) and Q (Q).
*Draw an ATC where the monopoly is earning an
 economic profit < 0 (this indicates an economic loss).
*Shade in the area of economic loss.