A. The total cost function for a monopolist is given by TC = 4,000 + 36Q + 0.06Q' and the demand equation is Q = 1,440 - 12P per unit of output What is the profit maximising level of output? (5 marks) 11. Calculate the profit maximizing price. (2 marks) iii . Calculate total profit at the profit maximising level of output. (3 marks) B. If in question A it were a perfectly competitive firm instead of a monopolist, what would be the equilibrium price and quantity? (5 marks) C. The total cost function for a perfectly competitive firm is estimated to be TC = 720 + 250Q - 6Q' + 0.04Q . The price of each device is $35. i. Should the owner close the outlet? Explain! (5 marks) D. Ital Shack is a local cook shop which produces packaged vegetarian meals for the health conscious. It retails its meal packages for $20 each. It has also estimated that by hiring additional cooks, it can produce the meals at the following rate. Number of Vegetarian meal packages produced and sold per Servers (L) day(Q) 0 5 12 20 3 31 45 5 55 6 64 70 75 9 79 If it costs the company $100 daily in wages to hire each additional cook: i. How many additional cooks should be employed? (5 marks) ii. Suppose the cost of hiring an additional cook was $105 per day instead of $100 per day. how many more cooks should Ital Shack hire?