Answer Happy

Part 1 (2 points) See Hint Amonopolist has a cost function given by c(y) = y2 and faces an inverse demand curve given by P(y) = 276.00 – y, where Pis the per-unit price and y is the quantity of output sold. Assume this monopolist cannot discriminate and charges a single price. What is the profit-maximizing level of output? What is its profit-maximizing price? $ Part 2 (2 points) See Hint Assume you want to choose a price ceiling for this monopolist so as to maximize total surplus (consumer surplus + producer surplus). What price ceiling level should you choose? $ What quantity would be produced at this price ceiling? Part 3 (1 point) See Hint Suppose that you put a tax on the monopolist of $20 per unit of output. What is its profit-maximizing level of output now?