Question: Hello, I would like the answer to this question please. 3. (35 pts) A monopolist faces an inverse demand function and a total cost function

Hello, I would like the answer to this question please.

Hello, I would like the answer to this question please. 3. (35

3. (35 pts) A monopolist faces an inverse demand function and a total cost function given by, P(Q) = a - bQ-, a > 0 and b > 0 "(Q) = c- dQ, c> 0 and d > 0 where Q > 0 is the number of units produced and sold, and a, b, c and d are, as indicated, positive parameters. (a) Write the profit function II(Q) and show that it is strictly concave for Q > 0. Is the profit function strictly monotonic? Why or why not? Justify your answer. (b) Find the profit-maximizing level of output Q*. Show, using comparative static analysis, how an increase in (2) parameter b and (iz) parameter d, affects the profit-maximizing level of output Q*. Do you expect these results? Justify your

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