in a monopolistic company, Demand is given by the inverse demand function P = 600 0.5QD, This gives their marginal revenue function as MR = 300 QD. The marginal cost is MC = 4Q. considers how many connections it is optimal for them to offer.

a.) Here, the firm's marginal revenue is not equal to the price. Is it higher or lower than price? Explain why in words.

b.) Does this company experience diminishing marginal product of labor? How can you tell?

c.) Calculate the quantity of output (Q) which maximizes the firm's profit. Calculate the price (P ) the firm will charge. Draw demand, marginal revenue, marginal cost, and the market outcome in a carefully-labeled graph.

d.) Suppose that marginal cost is cut to MC2 = 2Q. Calculate the company's new optimal quantity, and the new price they will charge. draw the shift on a new carefully-labeled graph.

e.) Does the decrease in cost benefit? Does the decrease in cost benefit consumers? Use the values above and additional calculations as you see fit to support your answers.