A risk-neutral monopoly must set output before it knows the market price. There is a 40 percent chance the firm's demand curve will be P = 40- 2Q and a 60 percent chance it will be P = 80- 2Q. The...

A risk-neutral monopoly must set output before it knows the market price. There is a 40 percent chance the firm's demand curve will be P = 40- 2Q and a 60 percent chance it will be P = 80- 2Q. The marginal cost of the firm is MC = 4. The expected profit is....
Multiple Choice
O. $300.
O. $450.
O. $400
O. $350.