You are the manager of a monopolistically competitive firm, and your demand and cost functions are estimated as O: 46 - 2Pand C(Q):6+20+02. a. Find the inverse demand function for your firm's product. P: o b. Determine the profitsmaximizing price and level of production. Instructions: Round your response to the nearest penny (two decimal places). Price: $ Instructions: Round your response to one decimal place. Quantity: c. Calculate your rm's maximum prots. Instructions: Round your response to the nearest penny (two decimal places). Problem 08-16 (alga) You are the manager of College Computers, a manufacturer of customized computers that meet the specications required by the local university. Over 90 percent of your clientele consists of college students. College Computers is not the only firm that builds computers to meet this university's specications; indeed, it competes with many manufacturers online and through traditional retail outlets. To attract its large student clientele, College Computers runs a weekly ad in the student paper advertising its \"free service atter the sale\" policy in an attempt to differentiate itself from the competition. The weekly demand for computers produced by College Computers is given by 0 =1.200 - 4P, and its weekly cost of producing computers is (.10) =1,400 + 202. If other firms in the industry sell PCs at $275, what quantity and price of computers should you produce to maximize your rm's prots? Instructions: Round your response to the nearest whole number. Quantity: computers Instructions: Round your response to the nearest penny (two decimal places). Price: $2.\"... What longrun adjustments should you anticipate? @ Exit by other firms along with decreased profits. 0 Entry by other firms along with increased profits. 0 Entry by other firms, reducing your profits. 0 Exit by other firms, increasing your prots. Problem 11-04 (alga) You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Analysts at your firm have determined that group 1's elasticity of demand is 6. while group 2's is -5. Your marginal cost of producing the product is $50. a. Determine your optimal markups and prices under thirddegree price discrimination. Instructions: Enter your responses rounded to two decimal places. Price for group 1: $ Markup for group 2: Price for group 2: $ As a manager of a chain of movie theaters that are monopolies in their respective markets, you have noticed much higher demand on weekends than during the week. You therefore conducted a study that has revealed two different demand curves at your movie theaters. On weekends, the inverse demand function is P: 35 - 0.0016: on weekdays, it is P: 25 - 0.0020. You acquire legal rights from movie producers to show their films at a cost of $25,000 per movie, plus a $3.00 \"royalty" for each moviegoer entering your theaters (the average moviegoer in your market watches a movie only once]. What type of pricing strategy should you consider in this case? 0 Third degree price discrimination 0 Second degree price discrimination C) First degree price discrimination 0 Block pricing What price should you charge on weekends? Instructions: Enter your response rounded to two decimal places. $ What price should you charge on weekdays? Instructions: Enter your response rounded to two decimal places