The market demand curve facing a one-price monopolist is given by p = 50, 000 0.6y. The cost function of the monopolist is given by: C(y) = 12y.

(a)Find the total revenue (TR), average revenue (AR) and marginal revenue functions of the monopolist.

(b) Find the prot-maximizing output of the monopolist and the price charged for it.

(c) What is the monopolist's prot in equilibrium?

(d) Draw the equilibrium you have derived in parts (a) - (c).

Clearly label the AR, MR and MC curves. Clearly label the prot maximizing output, price and prot.