Problem 1. A product is produced (and sold) in a monopolistic market. The cost of production is 10X+X^2 where X is the quantity of that product so that the monopolist inverse supply function is P(X)=10+2X. The demand function is X(P)=200-2P, where P is the price. A) What price will the monopolist charge. Write the number (no decimals) Answer: 85 Continue with the same Problem 1. Suppose that the government imposes a tax of 156 per unit on the buyers of this product. What is the new monopolist's price? O a. 92.5 O b. 82.5 O c. 72.5 O d. 45.5 Clear my choice Continue with Problem 1. It does not matter if the tax is levied on the buyers or the monopolist