A monopolist has an inverse demand curve given by p(y) = 12 - y and a cost curve given by c(y) = y2. a. What will be its profit maximizing level of output?
b. Suppose the government decides to put a tax on this monopolist so that each unit it sells has to pay the government $2. What will be its output under this form of taxation?
c. Suppose now that the government decides to put a lump sum tax of $10 on the profits of this monopolist. What will be its output?

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?