Slash and Burn is a monopolist that can sell its output at these prices and with these total costs:

Output Price Total Cost

4 $27 $28

5 26 34

6 25 42

7 24 52

8 23 64

9 22 88

10 21 105

11 20 125

12 19 148

13 18 174

14 17 204

a) What level of output will Slash and Burn choose to produce? What are the selling price and profit?

b) Suppose that Slash and Burn produced at the level that a perfectly competitive industry would, with marginal cost equal to price. What would be the output, price, and profit?