Monopoly A monopoly incurs a total cost TC = Q2 and faces the inverse demand P = 12 Q with P denoting the price and Q the quantity. 26) Determine the marginal revenue for the monopoly. 27) Determine the marginal cost for the monopoly. GL/ECON 1000 3.00 Introduction to Economics: Microeconomics Test #3: Questionnaire December 19, 2021 , from 19h00 to time 221100 (Toronto time) Prof. Can Erutku 28) Determine the prot maximizing quantity for the monopoly. 29) Determine the price-elasticity of demand (not expressed in absolute value) at the prot maximizing quantity. 30) Determine the consumer surplus. 31) The government wants to regulate the pricing of the monopoly to maximize total surplus. Since the inverse demand can also be interpreted as the marginal benet curve, determine the price that would maximize total surplus