A monopolist with total cost function c(Q) = 4+ 3Q + 1/2Q^2 faces a market demand function of Qd(P) = 60 - 4P.
a) Calculate the monopolist's profit-maximizing price and quantity sold, and the monopolist's profits, if the monopolist engages in uniform pricing. b) Depict the standard monopoly outcome with a graph (you do not have to graph the functions given above, just the generic monopoly problem).