Suppose you are central bank governor of a country which is experiencing inflation of 100% per month. You have two economic advisors. One advisor tells you that in order to increase seigniorage you ought to raise the money growth rate. The other advisor tells you that in order to increase seigniorage you ought to reduce the money growth rate. Which of the two recommendations is correct? Why? (Hint: look up the concept of the "Laffer curve" and use it to answer this question.)

In your answer, please explain the concept M/P. Also explain how the Laffer curve should be interpreted when y-axis and x axis are replaced with seignorage revenue and inflation.