Tangy Tangerines is a monopolistic firm in the market for tangerines. The following equations describe the demand for, and the cost of producing tangerines, where Q is output measured in thousand pounds, and P is price per pound. Demand: P = 59 - 30 Marginal Cost: MC = 3 + Q Total Cost: TC = 4 + so + 0.5Q2 The monopolist will charge what price and earn what profit? O Price = $19 and Prot = $53 thousand. 0 Price = $35 and Prot = $220 thousand. O Price = $8 and Profit = $220 thousand. O Price = $19 and Prot = $14 thousand