Question 6 Suppose the market demand curve for a monopolist is given as P = 200 - 2Q. Furthermore, suppose the MC curve for the firm can be written as MC = 20 + 2Q. The firm's TC can be expressed as TC = 20Q + Q2 + 100. You are required to answer the following questions: a. Calculate the profit the profit maximising quantity and price. b. Calculate the monopolist's profit. Question 7 "Yekahobi" is a perfect competitive firm with the following information: TC = 100 + 50Q -5Q2 + 0.20Q3 Market price of the product (P) = GH$10. You are required to calculate; (a) the quantity of the product the firm should produce to maximize its profits. (b) the total revenue of the firm. (C) the total cost of the firm. (d) the profit the firm will earn. (e ) Should the firm continue to produce? Why