2. In the market for fountain pens, the demand function is given by QD = 1, 357 - 0.5P. Suppose fountain pens are produced by a monopoly. The monopolist's total costs are given by TC = 2.5Q2 + 14Q + 5, 000. (a) What are the firm's profit maximizing price (PM ) and quantity (QM)? i. PM =_ "O to aoldonut busmob s eed A boog zol dealsat sil surge (1 point ii. QM = do at 1 prodw ,09 : 19 - at01 - 9 adidonut vigque (1 point (b) How much profit does the monopolist earn at this price and quantity? M boog to hoog to motionborq od (1 poin boos In wivesup bus song amidiliupe edi batt 0088 of \\ ban 000,098 al MA 018 et. (1 iT (8) iniog I) J boog to vitasup bas esig mundiflupe wort odd bull 000, VS& of asession smoodi H (d)