Consider a monopoly that faces the inverse demand function if Q E [0, 1/4) P(Q) = (1 - Q), if Q E [1/4, 1] and has the cost function C(Q) = Q2. (a) Assume that the monopoly is required to set a uniform price. Determine the profit- maximising price, quantity and profit of the monopoly. (b) Allow the monopoly to use a two-price mechanism as derived in lectures. The revenue associated with this mechanism is given by (1 - ;Q) Q. 0