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(1 mark) Consider a monopolist who produces a good at zero cost and faces the following inverse demand function: I: %0Q, lemt 4&33Q, Q2>1mL where
(1 mark) Consider a monopolist who produces a good at zero cost and faces the following inverse demand function: I\": %0Q, lemt 4&33Q, Q2>1mL where P and Q denote price and quantity respectively. In what follows, round your answers to three decimal places if necessary. Monopolist's prot is maximised at P=225 x Q=75 x (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 2mQ. Q>um 4m3Q, qum. p: Monopolist's prot is maximised at P=225 '1 Q=75 V
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