11.16. Suppose a monopolist faces the market demand function P = a EJQ. Its marginal cost is given hyMC' = c + 12. Assume that a 3:" c and 211 + o 3* I]. a) (2 marks} Derive an expression for the monopolist's optimal quantity.F and price in terms of a, b, c, and e. 11.22. Market demand is P = 54 (Qf. A mnltiplant monopolist operates three plants, with marginal cost functions: MCIiQIII = 401 MC2(QJJ = 3 + 3'92 MCQ = 5 + Q} a) (2 marks} Find the monop olist's protmaximizing price and output at each plant. h) (2 marks) How would your answer to part (a) change if MC: [122) = 4? 13.11 Consider a market in which the market demand curve is given by P = 13 X I". whereX is Firm 1's output, and F is Firm 2's output. Firm 1 has a marginal cost of 3, while Firm 2 has a marginal cost ofti. a} (2 marks} Find the Cournot equilibrium outputs in this market. How much profit does each rm make? h} (2 marks} Find the Stackelherg equilibrium in which Firm 1 acts as the leader. How much prot does each rm make