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Use the following information for a monopoly firm to answer the following four questions. Assume that...

Use the following information for a monopoly firm to answer the following four questions. Assume that Q equals the level of output and that costs include economic costs.

Total Revenue = 550*Q - 0.5*(Q squared)

Marginal Revenue = 450 - Q

Total cost = 2,000 + 50*Q + 0.5*(Q squared)

Marginal cost = 50 + Q

A) Calculate the level of Output this monopoly will produce at the profit maximizing level of output.

B) Calculate the Price this monopolist will charge at the profit maximizing level of output.

C) Calculate the amount of Economic Profit this monopoly will earn at the profit maximizing level of output.

D) Calculate the amount of Average Variable Cost at an output level of 200 units.

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