Suppose asingle-price monopolist faces an inverse demand curve given by p(Q)=2212Q and has a marginal cost curve given by MC(Q)=Q.

Q1. What price will the monopolist charge in the marketequilibrium? (Round your answer to one decimal place and use in subsequentcalculations.)

Q2. Calculate the economic rents earned by the monopolist in the market equilibrium. (Round your answer to two decimalplaces.)

Q3. What is the deadweight loss associated with thismonopolist? Note: since'loss' is in thename, you should input a positive number. (Round your answer to two decimalplaces.)

For the next twoquestions, consider the impact of a 40% ad valorem tax imposed on the consumers in this market.

Q5. What quantity will be sold in theafter-tax equilibrium? (Round your answer to two decimal places and use in subsequentcalculations.)

Q6. Suppose that policy makers imposed a specific tax on consumers instead of an ad valorem tax. Calculate the size of a specific tax that would lead to the sameafter-tax quantity as the ad valorem tax. (Round your answer to two decimal places.)