A monopoly's demand function is as follows:Q = 60 - P/6.Its total cost function is: TC = 2000 + 24Q.What is the profit maximizing output?

Group of answer choices

42

60

28

90

35

Assume that a monopoly is producing the profit maximizing output.The firm's marginal cost then decreases.Assuming the firm continues operating, how will it respond?

Group of answer choices

The firm will decrease its output and charge a higher price.

The firm will keep its output the same and charge a lower price.

The firm will decrease its output and charge the same price.

None of the answers listed is correct.

1. The firm will keep its output the same and charge a higher price.