Q 1. If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then profit maximization . 2. The monopolist's marginal revenue curve . 3. A profit maximizing monopolist . 4. If firms have monopsony power in the labor market, an increase in the legal minimum wage . 5. A monopoly incurs a marginal cost of $1 for each unit produced. If the price elasticity of demand equals -2.0, the monopoly maximizes profit by charging a price of .