Part 1 (2 points) Feedback See Hint A monopolist has a cost function given by c(y) = y and faces an inverse demand curve given by P(y) = 300.00 - y, where P is the per-unit price and y is the quantity of output sold. Assume this monopolist cannot discriminate and charges a single price. What is the profit-maximizing level of output? V 75 What is its profit-maximizing price? V $ 225 Part 2 (2 points) Feedback See Hint Assume you want to choose a price ceiling for this monopolist so as to maximize total surplus (consumer surplus + producer surplus). What price ceiling level should you choose? * $ 75 What quantity would be produced at this price ceiling? * 225