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The following equations describe the monopolist’s demand, marginal revenue, total cost and marginal cost: Demand: Qd...

The following equations describe the monopolist’s demand, marginal revenue, total cost and marginal cost:
Demand: Qd = 12 – 0.25P | Marginal Revenue: MR = 48 – 8Q | Total Cost: TC = 2Q^2 | Marginal Cost: MC = 4Q
Where Q is quantity and P is the price measured in dollars.

a) What is the profit maximizing monopoly’s quantity and price?
b) At that point, calculate the price elasticity of demand. What does the value imply?
c) Does this firm make a profit? If so, how much? Show your work.
d) What is the quantity this monopoly produces if it conducts perfect price discrimination?

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