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2. A monopolist has a marginal revenue function of MR(Q) = 20 - 50. Assume demand is linear. At a price of P = $5,

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2. A monopolist has a marginal revenue function of MR(Q) = 20 - 50. Assume demand is linear. At a price of P = $5, and MC > 0: a. What is the own price elasticity of demand? b. Should the monopolist increase or decrease Q or keep Q the same to maximize profits? c. If you need additional information to answer this question, what additional information is required

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