You are the manager of a monopoly, and your analysts have estimated your demand and cost functions as P = 600 − 3Q and C(Q) = 2,000 + 2Q2, respectively. a. What price–quantity combination maximizes your firm’s profits?   Instructions: Round your response to the nearest penny (two decimal places).   Price: $  Quantity:  units   b. Calculate the maximum profits.   Instructions: Round your response to the nearest penny (two decimal places).   $      c. Is demand elastic, inelastic, or unit elastic at the profit-maximizing price–quantity combination?   multiple choice 1 Unit elastic Inelastic Elastic

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