A firm in a monopolistically competitive environment discovers that in the long run it faces inverse demand: 16-7 P = 14 - 0.25Q, 14- which means its marginal revenue is: 2 = 14 - 0.50Q. 12- The firm's marginal cost is constant at MC = $2. Sketch these three curves on a graph. 10- 1.) Using the line drawing tool, draw the inverse demand curve on the graph. Label your curve 'D'. Price ($) 8- 2.) Using the line drawing tool, draw the marginal revenue curve on the graph. Label your curve 'MR'. 3.) Using the line drawing tool, draw the marginal cost curve on the graph. Label your curve 'MC'. Carefully follow the instructions above and only draw the required objects. 2- 8 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 Quantity (Q)