In class assignment 7 04252022 Econ 53 1. Julie has estimated the demand and marginal revenue MR) for her product. The equations are P = 100 - 2Q (quantity) and MR = 100 - 4Q, respectively. She also experiences a constant marginal cost (MC) of $16. a. What is Julie's profit-maximizing quantity? b. What price should Julie charge at that profit- maximizing quantity? c. What is Julie's Profit? d. Calculate the Lerner's Index or degree of monopoly power for Julie. 2. 1 25 100 b . ) 16 c . ) ( 25 x 16 ) - (16 * 25 1b MR MC Q 25 50