The inverse demand curve that a monopoly faces is P =15-Q.The firm cost curve is C(Q)=10+5Q.

a.calculate the functions for marginal revenue ,marginal cost, average cost and average variable cost.

b.what is the profit maximising quantity and price for this monopoly firm.

d.calculate the amount of profit this firm will be making and indicate whether it is supernormal, normal or subnormal profit.

d.Assuming this market was rather a perfect competitive market and the demand equation given above represent the market demand.calculate the profit maximising quantity and price.

e.Compare the price and quantity for the case of monopoly and the perfect competitive market and explain the difference using the appropriate diagram.