do not copy answers from other people, as they have proven to be be wrong.

Problem 11.1.6 The inverse demand curve that a monopoly faces is p = 10Q-05. The firm's cost curve is C(Q) = 5Q. What is the profit-maximizing quantity and price? (Hint: See Solved Problem 11.2.) M Problem 11.2.3 The U.S. Postal Service (USPS) has a constitutionally guaranteed monopoly on first-class mail. In 2015, it charged 49c for a stamp, which was not the profit- maximizing price-the USPS goal, allegedly, is to break even rather than to turn a profit. Following the postal services in Australia, Britain, Canada, Switzerland, and Ireland, the USPS allowed Stamps.com to sell a sheet of twenty 49c stamps with a photo of your dog, your mommy, or whatever image you want for $22 (that's $1.10 per stamp, or a 224% markup). Stamps.com keeps the extra beyond the 49c it pays the USPS. What is the firm's Lerner Index? If Stamps.com is a profit-maximizing monopoly, what elasticity of demand does it face for a customized stamp? (Hint: See Solved Problem 11.3.) M