9. A monopoly has total costs given by C = 15 + 4 Q where Q is the quantity produced. The demand for its product is given by P = 32 - 2Q where P is the market price. a) Give (and explain) the formula for the monopolist's marginal costs. b) Give (and explain) the formula for the monopolist's total revenue c) What is the profit-maximising quantity to produce? [3] [3] [5] [2] e) How much more would the monopolist sell if its price was equal to marginal cost? [2] d) What will the market price be