Question: (ii) A firm has a demand function: p=16-2x^(2) and the total cost function: demanded/produced (units in thousand). On the basis of the information given, answer

(ii) A firm has a demand function: p=16-2x^(2) and the total cost function: demanded/produced (units in thousand). On the basis of the information given, answer the following: I. Show that the firm is a monopolist firm. 2 II. Determine the quantity which the firm should produce to maximize profit. Also, determine the amount of profit. 6

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