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Part $1$

Recalling the information from the$$ "Botox Patent$$ Monopoly" application, inverse demand was

p equals $1000$ minus $375$ Upper Qp$=1000375$Q$,$

marginal revenue was

MR equals $1000$ minus $750$ Upper QMR$=1000750$Q$,$

marginal cost was

MC equals $25$MC$=25,$

a$$ constant, and quantity is in millions of units.

Part $2$

What would happen to the$$ monopoly$-$optimal price and quantity if the government had collected a specific tax of

$$$$5050$

per vial of$$ Botox?

The$$ monopoly$-$optimal price would be

$$$$550550.$

$($round your answer to two decimal$$ places$)$

The$$ monopoly$-$optimal quantity would be

$1\mathrm{.}201\mathrm{.}20$

million

units.

$($round your answer to two decimal$$ places$)$