Suppose that Paul has acquired a monopoly on the production of baseballs and faces the demand and cost situation shown in the following table

Price

Quantity (per week)

Total Revenue

Marginal Revenue

Total Cost

Marginal Cost

$20

15,000

$330,000

19

20,000

365,000

18

25,000

405,000

17

30,000

450,000

16

35,000

500,000

15

40,000

555,000

a.Fill the remaining values in the tables

b.If Paul wants to maximize profits, what price should he changes and how many baseballs should he sell? Draw a graph to illustrate your answer.

c.Suppose the government imposes a tax of $50,000 per week on baseball production. How what price should Paul charge, and how many baseballs should he sell?