Consider a monopolist whose price is expressed by the equation P= 200-20q. The Total Cost (TC) is expressed by the equation TC= 145+30q.

(i) Find the Total Revenue (TR) equation (3 marks)

Consider that this monopolist can produce quantities of a good from 0 to 8 units. (i.e. 0,1,2,3,4,5,6,7,8).Over this range,

Calculate the prices at every level of production (4 marks)

(ii)Calculate the total revenue at every level of production.(iii) Calculate the Total Cost at every level of production Calculate the marginal Revenue at every level of production(6 marks)

(iv)Calculate the Total Profit at every level of production(4 marks)

The demand equation of a good is given by the expression P+2Q = 20 and the Total Cost function is Q3-8Q2+20Q+2.

(v) Find the level of output, which maximizes Total Revenue (4 marks)

(vi) Find the maximum profit (4 marks)