Problem
A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find theoutput that maximises this monopolist's profits. What are the prices at profits and thatoutput? Find the elasticity of demand at the profit maximising output.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.