3.9 Consider a monopolist with the following long-run costs: TC = 2Q2 MC = 40 The market demand curve is given by P = 96 6Q. a. Use the twice-as-steep rule (or just take a derivative) to nd the equation of the marginal revenue curve corresponding to the market demand curve. b. Determine the price the monopolist will charge and the quantity of output it will produce. c. Find the monopolist's prots. 4.2 Consider an industry that has eight rms with the following market share percentages: 20, 20,16,16, 9, 8, 7, 5. a. Calculate the four-rm concentration ratio for this industry. b. Calculate the Herndahl-Hirschman Index for this industry