38. Suppose a company owns the only parking garage in a small town, and has a local monopoly over parking. The parking garage holds 200 cars, and has no alternative use. The demand for parking is given by P=300Q. a. What price should the company set to maximize profits? What is the elasticity of demand at this price? How many stalls are rented out? b. At the quantity found in (a), what is the marginal cost of renting another stall for parking? Given this answer, why does the company not rent more spaces? c. Suppose the demand curve originally was P=400Q. If the demand curve were to increase from this, would the elasticity of demand at the new profit maximizing price be elastic or inelastic