A monopolist faces a demand curve Q = 50 - (p/3) and has an average variable costAVC = 602Q. Suppose there is no fixed cost.

How much is the profit or loss that the monopolist achieves? What is the price level that maximizes the monopolist total revenue? How much is the Lerner index of monopoly power? What is the value of the price elasticity of demand ( in absolute value) that this monopolist faces at equilibrium? What is the size of the welfare loss that result from monopoly?