2 8 You are the manager of a monopoly, and your analysts have estimated your demand and cost functions as P= 200 20 and 6(0) = 1.000 + 302, respectively. a. What pricequantity combination maximizes your rm's prots? Instructions: Round your response to the nearest penny (two decimal places). points Price: $ Quantity: units b. Calcu ate the maximum prots. Instructions: Round your response to the nearest penny (two decimal places). $ C. Is demand elastic. inelastic, or unit elastic at the prot-maximizing pricequantity combination? 0 Elastic O Inelastic 0 Unit elastic d. What pricequantity combination maximizes revenue? Instructions: Round your response to the nearest penny (two decimal places). Price: $ Quantity: units 9. Calculate the maximum revenues. Instructions: Round your response to the nearest penny (two decimal places). $ f. Is demand elastic, inelastic. or unit elastic at the revenue-maximizing pricequantity combination? 0 Elastic 0 Unit elastic O Inelastic Amber and Tom own the only two dry cleaning businesses. Although they have different constant marginal costs, they both survive continued competition. Amber and Tom do not constitute a: 29 Itiple Choice points 01:19:10 O Stackelberg oligopoly. O Cournot oligopoly. O Sweezy oligopoly. O Bertrand oligopoly.30 A new firm enters a market that is initially serviced by a Cournot duopoly charging a price of $15. What will the new market price be should the three firms coexist after the entry? Multiple Choice points 01:19:06 O Above $15 O None of the answers is correct O $15 O Below $15