A monopolist faces a demand curve given by P = 105 3Q where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $15. There are no xed costs of production. Hint: To answer the following questions, it may be helpful to draw a graph! What quantity should the monopolist produce in order to maximize prot? What price should the monopolist charge in order to maximize prot? How much prot will the monopolist make? What is the deadweight loss created by this monopoly? (Hint: compare the monopoly outcome with the perfectly competitive outcome). Monopoly deadweight loss = If the market were perfectly competitive, what quantity would be produced