Asingle-priced, profit-maximizing monopolist: causes excess demand, or shortages, by selling too few units of a good or service. chooses the output level at which marginal revenue begins to increase. always charges a price above the marginal cost of production. also maximizes marginal revenue. none of the statements is true.

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?