Question: #4) Demand for microprocessors is given by P = 35 - 5Q, where Q is the quantity of microchips (in millions). The typical firm's total cost of producing a chip is \({{C}_{i}}=5{{q}_{i}}\) where \({{q}_{i}}\) is the output of firm \(i\).

a) Suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. What are the monopolist's profit maximizing price and total output?