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(1 mark) Consider a monopolist who produces a good at zero cost and faces the following inverse demand function: 3603Q, Q>80, where P and Q
(1 mark) Consider a monopolist who produces a good at zero cost and faces the following inverse demand function: 3603Q, Q>80, where P and Q denote price and quantity respectively. In what follows, round your answers to three decimal places if necessary. Monopolist's profit is maximised at P=D Q=D (1 mark) Suppose everything is the same as in part (a) except the inverse demand function - where the inequalities have just switched places. The new inverse demand function is P _ 2m] Q. Q > so, _ 3m) 3Q. Q g 80. Monopolist's prot is maximised at P=D
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