The demand curve for the monopoly firm AbbA is p = 120 - Q.

Total cost curve of the firm is TC = 100 + Q2 where p represents price and Q represents quantity. a.) Draw the demand curve, the marginal revenue curve and the average cost curve and find the quantity and price that maximize the company's profit.

b.) Is this a natural monopoly? Explain.

c.) Discuss the conditions of a monopoly and the role of the government vis--vis monopolies.

d.) Is the following statement true or false? Explain. "Since a monopoly has no competition, it does not need to advertise."