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Question 1 (1 point) In today's world, there is no such thing as markets resembling perfect competition not even close. O a) True O b) False Save Question 2 (1 point) Once a firm gains a monopoly, managers never have to worry. O a) True O b) False Save Question 3 (10 points) The demand and cost function for a company are estimated to be as follows: P 100 8Q TC 50 80Q 10Q2 .6 Q3For Q 1:15, calculate total cost, marginal cost, price, total revenue and marginal revenue Save Question 4 (1 point) What price should the company charge if it wans to maximize its profit in the short run