1. The table below describes the market situation of a monopolist. The first two columns describe price and quantity as taken from the demand curve the monopolist faces. The third column provides the monopolist's total cost of producing the given quantity. The monopoly may only produce whole units of output (no fractions of Q). Price 50 49 48- 47 46 1056 1681 1104 Quantity 20 21 22 23 24 Total Cost 540 565 590 615 640 a. What is the profit, maximizing quantity for the monopolist? What price will the monopolist charge? b. What profit will the monopolist make, given your answer to part a.? c. Suppose that the monopolist can identify two distinct groups of consumers. One group has a more elastic demand than the group given above and one has a less elastic (more inelastic) demand curve. How should the monopolist change prices to maximize profit in this situation? (Please answer generally, a numerical answer is not necessary for this question.) Which group will have an incentive to resell the good to the other?