Consider a monopolist who produces a good at zero costand faces the followinginverse demand function:

P={200Q,Q80,3603Q,Q>80,P={200Q,Q80,3603Q,Q>80,

wherePPandQQdenoteprice and quantity respectively.In what follows, round your answers to three decimal places if necessary.

Monopolist's profit ismaximised at

P=P=Answer for part 1

Q=Q=Answer for part 2

(1 mark)Suppose everything is the same as inpart (a)except the inverse demand function- where the inequalities have just switched places.The new inverse demand function is

Monopolist's profit is maximised at

P=P=Answer for part 3

Q=Q=Answer for part 4