(Table: Demand for Economics Tutoring) Look at the table Demand for Economics Tutoring.Suppose Eric is the only economics tutor in town and therefore holds a monopoly on the sale of economics tutoring.The table shows the demand schedule for his services.Eric can offer additional hours of tutoring at a constant marginal cost of $2 per hour, and he has no fixed costs.a) If Eric acts as a monopolist, how many hours will he offer and what price will he charge?
b) Calculate Eric's monopoly profit.

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The Answer of (Table: Demand for Economics Tutoring) Look at the table Demand for Economics Tutoring.Suppose Eric is the only economics tutor in town and therefore holds a monopoly on the sale of economics tutoring.The table shows the demand schedule for his services.Eric can offer additional hours of tutoring at a constant marginal cost of $2 per hour, and he has no fixed costs.a) If Eric acts as a monopolist, how many hours will he offer and what price will he charge?
b) Calculate Eric's monopoly profit.

(Table: Demand for Economics Tutoring) Look at the Table Demand