The demand for a product is Q = 200 P . The product is produced by a regulated monopolist. The marginal cost of production is MC = 60. (a) What price maximizes the total surplus? (b) If the monopolist could choose the price P , what price would it choose to maximize its profits? What would the total surplus be at that price? (c) Now consider the following proposal. If the monopolist sells Q units, in addition to its profits it gets a subsidy from the government equal to 20Q. What quantity will the monopolist choose to maximize its payoff?