8. Chapter 10: A monopoly faces the following demand curve: P = 120 - 0.02Q, (P is in (). The total cost function is given by C = 25,000 + 60Q. Assume that the monopoly maximizes its profits. (i) (2 points) Find the level of production, the price and its profits. (You can solve it numerically, or show it in a very clear graph). (ii) (3 points) Suppose that the government decides to levy a tax of 14 E per unit of Q. Find the new price the consumers will pay, the price the monopolist will receive, the new production level and the new (after tax) profit. (You can also solve it numerically or graphically. If you show it graphically, you need to have a new and very clear graph)