Questions:

1. A firm is a monopoly for the good it produces. Its marginal cost function is MC=2q2+3, whereq is the quantity it produces, and it has fixed costs of 15. The demand equation for its good is given by 2p+q=48, where p is the price. Find expressions, in terms of q, for the total cost, total revenue and profit. Determine the production levelq that gives maximum profit.

2. The population of a village is6000 at the start of 2022. Each year,2 of the population leave the village, and300 new residents move in. Find an expression, in as simple a form as possible, for the population of the villagen years after the start of 2022. What happens to the population of the village in the long run?