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Suppose demand for a monopolist's product is given by p = 300 6q while the monopolist's marginal cost is given by MC = 3q. a)What

Suppose demand for a monopolist's product is given by p = 300 6q while the monopolist's marginal cost is given by MC = 3q.

a)What is the profit-maximising quantity of output for this monopolist is?

b)What is the profit-maximising price?

c) A second firm with the same marginal cost enters. Firms engage in Cournot (quantity) competition. What is the equilibrium quantity?

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