Problem 7 (3 points): A monopolist is facing a demand function (here p is price and q is - - = quantity demanded) p(q) = 1,000,000 5000q 5q and it has a cost function c(q) = 200,000 12,000q + 15q (here q is the quantity produces and c is the total costs of production). Assume that all produced quantity is sold. a) (1 point) Write down the profit function as a function of q b) (1 point) Find the marginal profit function c) (1 point) Compute the marginal profit when q=200 units are produced and use it to make a recommendation to either increase or decrease production.