Suppose the demand and Total Cost for a monopolist’s product is given by P = 100 – 7Q; TC = 20 + 20Q + 2Q2 a. Find the monopolist’s profit maximizing P and Q, and profit. b. Show that the second order condition is satisfied. Show that at equilibrium the slope of the MR curve is less than the slope of the MC curve c. Compute the elasticity of demand at the equilibrium. Briefly explain why demand is elastic? d. Compute the Revenue maximizing Q. What is the P at this Quantity? e. What is the elasticity of demand? Briefly explain why?

Digitalhealth electronics inc. is a company that builds diagnostic devices. it was the first company to develop a compact mri scanner by reconfiguring the components of the mri technology. this smaller and user-friendly version of the huge mri scanner created demand from small hospitals, nursing homes, and private practice doctors who were earlier dependent on the scanning machines in large hospitals. which of the following types of innovations does this scenario best illustrate? a. disruptive innovation b. incremental innovation c. radical innovation d. architectural innovation