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2. Suppose the demand function for a monopolist’s product is given by: Q = 80 –...

2. Suppose the demand function for a monopolist’s product is given by: Q = 80 – 5P (Total marks = 5) and the cost function is given by C = 30 + 2Q + 0.5Q2 A) What is the inverse demand function for this monopoly? B) Calculate the MC. C) Calculate the MR. D) Determine the profit-maximizing price. E) Determine the profit-maximizing quantity. F) How much profit will the monopolist make? G) What is the value of the consumer surplus under monopoly? H) What is the value of the deadweight loss?

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