A monopolist with total cost function t c 30q q2 is, Business Economics

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A monopolist with total cost function t c 30q q2 is

A monopolist with total cost function T C = 30Q + Q^2 is facing a market demand given by P = 150 − Q. a) What is the optimal quantity and price the monopolist will set on this market? (Q=30, P=120) b) What quantity and price would this firm set if it was to behave competitively? (Q=40, P=110) c) Calculate the price elasticity of demand at the monopoly price and quantity point. Does the Lerner price formula hold?

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