1. A single seller is facing the demand curve: q = b-2ap, where b > 0, a > 0. The marginal cost is c > 0 and there is no fixed cost. It is assumed that 0 za? c) If the monopolist chooses price instead of quantity, will the the monopoly price, quantity and profits be different? d) Computate the price elasticity of demand Ed and explain why a monop- olist will never produce on the inelastic portion of the demand Ed > -1? e) Show graphically that the price elasticity of demand Ed