Question: Section II: Short Answer Questions. (20 points each) 1. A monopolist's inverse demand function is estimated as P = 250 - 5Q. The company produces

Section II: Short Answer Questions. (20 points each) 1. A monopolist's inverse demand function is estimated as P = 250 - 5Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC1(Q|) = 5Q1, and the marginal cost of producing at facility 2 is MC2(Q2} = 10122. a) Provide the equation for the monopolist's marginal revenue function. b} Determine the profitmaximizing level of output for each facility. c) Determine the profitmaximizing price. d} Suppose the marginal cost of producing at facilityr 2 becomes MC2(Q3} = 15121;, Determine the profi maximizing price

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