1) Suppose inverse demand equation, P = 14 - Q, and marginal
revenue, MR = 14 -2Q, and marginal cost, MC = 2 + Q. The price that
the profit maximizing monopolist sets is $_ per unit. ____
2) Suppose inverse demand equation, P = 14 - Q, and marginal
revenue, MR = 14 -2Q, and marginal cost, MC = 2 + Q. What quantity
does a profit maximizing monopolist produce? _____