Economics Extra Credit Help (Monopoly)?

[BxBmr76]

John's Automotive Repair., has a monopoly in the Philadelphia market because of restrictive licensing requirements, and not because of superior operating efficiency. As a monopoly, the repair shop provides all industry output. For simplicity, assume that the Auto Repair operates a chain of locations and that each shop has an average cost minimizing activity level of 750 hair styling per month, with Marginal Cost = Average Total Cost = $20 per styling.
Assume that demand and marginal revenue curves for automotive repair in the Philadelphia market are

P = $80 - $0.0008Q
MR = $80 - $0.0016Q

Where P is price per unit, MR is marginal revenue, and Q is total firm output (styling).

1. Calculate the competitive market long-run equilibrium activity level, and the monopoly profit maximizing price/output combination.

2. Calculate monopoly profits, and discuss the monopoly problem@ from a social perspective in this instance.