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Consider a. monopolist who faces the inverse demand function of My) = 200 103; with marginal revenue given by MR = 200 20y. In addition the cost function is given by C(y) = 20y2/2 so that the marginal cost is simply, M C = 20y. a) Calculate the monopolists choice of Output and the associated price and prot. b)At the monopolists level of output and price, (that is at y\" and p"), calculate the consumers price elasticity of demand. Note the elasticity of demand is given by _@2 6 AM