Consider a domestic monopolist that has the following schedules: Demand: P=300-Q Marginal Revenue: MR=300-2Q Cost: C = 100Q+(0.5)*Q^2 Marginal Cost: MC = 100+Q (USE graphs and show ALL calculations) a. (5 pts) If the firm did not face any foreign competition, what price would it charge and what quantity would it produce. b. (5 pts) Suppose the country opened up for trade and the firm now faces perfect competition. If the world price was $100 how much would the domestic firm produce, how many goods would be purchased and what would the volume of imports be equal to?