4. Suppose a monopolist faces the inverse demand function p = a by where p is the price and y is the quantity. Its constant marginal cost is c, which is less than a, and its xed cost is F. a. What is the rm's revenue (as a function of quantity)? b. What is the prot-maximising quantity, and the resulting price? (Both should be expressed as functions of a, b and c.) c. At this quantity and price, what are: i. the price-elasticity of demand; ii. consumer surplus; iii. deadweight loss? d. What is the maximum level of prot? Note any assumptions that you made. e. Suppose that the government imposes an ad valorem tax, t. 50 if the monopolist charges a price p, the price to the consumer is (1 + t) p . What would the effect be on price, quantity sold and prot? f. How would the results in the previous part change if the tax were per unit