Question: Given the demand function as follows, Q = 190-1.3P where Q (in barrels) and P is price. TC = 0.15Q2 + 80 where TC is

 Given the demand function as follows, Q = 190-1.3P where Q

Given the demand function as follows, Q = 190-1.3P where Q (in barrels) and P is price. TC = 0.15Q2 + 80 where TC is total cost. Based on the above information, 1. Find the quantity. [3 marks] ii. Determine the minimum or maximum value. [3marks] Find the monopolist's price. [3 marks] iv. Find total cost (TC), average cost (AC), and profit for the monopolist. [3marks] V. Draw the graph. [3 marks]

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