Consider once again the microchip market described in problem 9 of chapter 7. demand for microprocessors is given by P = 35 - 5Q. where Q is the quantity of microchips ( in millions ). The typical firm's total cost of producing a chip is Ci= 5qi, where qi is the output of firm I.

a. suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. what are the monopolist's profit maximizing price and total output?

b. compute the monopolist's profit and the total consumer surplus of purchasers.