Suppose the demand curve for a good produced in a monopolistic market is given by the equationP=30010QP=30010Q. Further, suppose that the total cost of producing this good is equal toTC=5Q2TC=5Q2. Given these equations

a.Calculate the profit-maximizing quantity and the price chosen by the monopolist.

b.Calculate the mark-up of the monopolist at the profit-maximizing quantity.

c.Calculate the price elasticity of demand at the profit-maximizing quantity.

d.Calculate the Lerner Index of the monopolist.

e.Illustrate the deadweight loss created by the monopolist using the supply and demand curves.