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A monopolist faces the following market demand curve: Q = 800 - 4P (or P =200-0.25Q) , where Q is units per year and P

A monopolist faces the following market demand curve: Q= 800 - 4P (or P =200-0.25Q), whereQis units per year and P is $/unit. Marginal cost is given byMC = 0.5Q.

Answer the following questions.Please clearly indicate which question you are answering with the appropriate letter.

What is the profit-maximizing quantity?
What is the profit-maximizing price?
What is the consumer surplus at this price and quantity?
What would be the single price that would maximize total possible welfare/surplus in this market?

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