A mono"Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you wilA monopoly faces the demand function Q = 30 - p. Its inverse demand function is therefore p = 30 - Q, so its marginal revenue function is MR = 30 - 2Q. The firm's cost function is C = 6Q + Q2, so its marginal cost is MC = 6 + 2Q. The monopoly sets its price. Its quantity is determined by the demand function." Q = 30 - p p = 30 - Q MR = 30 - 2 Q C = 6 Q + Q2 MC = 6 + 2 Q poly faces the demand function Q = 30 - p. Its inverse demand function is therefore p = 30 - Q, so its marginal revenue function is MR = 30 - 2Q. The firm's cost function is C = 6Q Q2, so its marginal cost is MC = 6 2Q. The monopoly sets its price. Its quantity is determined by the demand function