3. A monopolist has a market demand P=1000-Q. The monopolist has two plants for production. Plant l's cost function C=q12 and the marginal cost =2q1; plant 2's cost function C=2q22 and the marginal cost =4q2.

(a) Find the monopoly output, the price and profit.

(b) Find the consumer surplus and deadweight loss.

3. {24 marks} A monopolist has a market demand P=lQ. The monopolist has two plants for production. Plant 1's cost function (3:in2 and the marginal cost =2q1; plant 2's cost function (3:22]:2 and the marginal cost =4CI2. {a} Find the monopoly output, the price and prot. {b} Find the consumer surplus and deadweight loss