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4. (25 points) A monopolistically competitive company assembles and installs solar panels it imports at $10 per unit. All remaining costs of the company. denoted RC, is given by the following (where Q is a unit of solar panel): FiC(Q) = 1.0004602 The demand faced by this company is given by P=500-30Q. a) [10 points) What is the Optimal production level. 0*. and what is the prot at 0*? b) [15 points) US announced on Jan 22, 2018 that, a tariff (tax) of 30% would be imposed on imported solar panels. (https://www.fomes.com/sitesfdavekeating/2018/01f23/trump-followsweuropes-lead- with-chinese-solar-panel-tariffsfal7d?b055931 a8) Assuming demand stays the same, what would be the new (1* and 11(0")? [According to the articie, various aspects of solar industry is going to be affected but for the purposes of this question, consider only the change in imported solar panel price) The table below shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table provided to answer the questions below. Price ($) per pound (lb) of cocoa beans Price Cameroon Quantity Cameroon Quantity Nigeria Quantity Nigeria Quantity ($/1b) Demanded (lb) Supplied (1b) Demanded (1b) Supplied (1b) 8 180 500 155 210 7 200 460 180 180 6 250 410 200 160 5 280 360 220 140 4 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? X Number Number Incorrect. To calculate the 4 Price Cameroon 320 Quantity Demanded Cameroon equilibrium price and quantity with free trade, think X X about the two Number Number countries markets as one big 7 Price Nigeria 180 Quantity Demanded Nigeria market for cocoa beans