Now assume that the typical firm operates as a monopolist that faces the demand function P=72-0.5Q.

Question 46(1 point)

What is the monopolist's marginal revenue function?

Question 46 options:

MR=72-0.25Q

MR=72-Q

MR=72-2Q

MR=72-4Q

Question 47(1 point)

What profit maximizing quantity does the monopolist choose?

Question 47 options:

3

4

5

6

Question 48(1 point)

What is the profit maximizing price?

Question 48 options:

70

68

66

64

Question 49(1 point)

What is the monopolist's profit?

Question 49 options:

98

108

118

128

Question 50(1 point)

What is the point price elasticity of demand at the profit maximizing price?

Question 50 options:

-8

-10

-12

-14