[See Solution] You are the manager of a monopoly, and your demand and cost functions are given by P=200-2 Q and C(Q)=2,000+3 Q^2, respectively. What price-quantity
Question: You are the manager of a monopoly, and your demand and cost functions are given by \(P=200-2 Q\) and \(C(Q)=2,000+3 Q^{2}\), respectively.
- What price-quantity combination maximizes your firm's profits?
- Calculate the maximum profits.
- Is demand elastic, inelastic, or unit elastic at the profit-maximizing price-quantity combination?
- What price-quantity combination maximizes revenue?
- Calculate the maximum revenues.
- Is demand elastic, inelastic, or unit elastic at the revenue-maximizing price-quantity combination?
Deliverable: Word Document 
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