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2. (5 points) Monsanto dominates the US market for soybean seeds, producing Roundup Ready seeds that are genetically engineered to be resistant to the most used herbicide glyphosate (also trademarked by Monsanto as Roundup), thus enabling farmers to apply the herbicide without concern for crop damage. Farmers cannot legally store seeds from current crops produced from Monsanto seeds (and they are often created so they are sterile) so they must buy more seed each year. For purposes of the questions below, assume Monsanto is a monopoly producer of genetically modified soybean seeds. a. In the graph below, assume Monsanto limited the supply to QM Label the price it would be able to charge as Po b. Draw in the MR curve that would make Qm the profit maximizing level of output for Monsanto. c. Draw the average total cost curve such that Monsanto is making a positive economic profit and shade in the area representing profit. d. What sort of barrier to entry likely allows Monsanto to maintain close to monopoly control of the genetically modified soybean seed market?