### Dealing with Competition Models

Given the following: P = 20,000 - 15.6Q and TC= 400,000 +4640Q + 10Q2 where P is the product price, Q is the output level, and Q2 is Q squared A. Given we have a monopoly due to a patent, determine the profit maximizing output level, the monopoly price, and economic profits(High price/high output model). B. Assuming