A monopolist faces a demand curve given by q=30-0.8p. The monopolist's total costs are given by 0.5q²+168.

1. How much output will the monopolist choose to produce?

2. At what price does the monopolist sell its product?

3. If this were a competitive market, what would be the equilibrium quantity sold?

4. If this were a competitive market, what would be the equilibrium price?

5. True or false: If a price ceiling were imposed on the monopolist, and they were forced to sell at the competitive price, they would no longer make a profit and they would exit the market.