1. Suppose that a monopoly faces a market demand given by P = 30 - 2Q. Its total cost is

C (Q) =4 + Q^2. The marginal cost and revenue curves MR(Q) = 30 - 4Q and MC(Q) = 2Q

(i) What is the profit-maximizing quantity and price?

(il) What is the monopolist's profit?

(ili) Should the monopoly operate or shutdown in the long run and why?

Please solve this problem accurately and manually (without using chatgbt as it often makes calculation errors and Problems)

Solve each part to the problem accurately and timely.