1. The table below shows the cost and demand situation for a monopolist firm. A. Find the firm's profit-maximizing level of output by finding the quantity at which Marginal cost = Marginal revenue. Then calculate profit at that quantity. Remember that Profit = (Price - ATC)"(Quantity), and that price is given by the demand for a monopolist. B. Graph the marginal cost, avg total cost, demand, and marginal revenue curves and label the profil-maximizing level of output along with the rectangle that represents the firm's profit. C. What would be the equilibrium price and quantity if this were a perfectly competitive market? Assume that the marginal cost curve represents the market supply curve. Marginal Avg Total Perceived Monopoly Quantity Cost Cost Total Cost Demand MR Total Rev Profit $3 $6 $20 $20 $2 $4 $16 $ 12 $4 $4 $ 12 $4 4 $5 $8 $4 5 $15 $7 $4 -$12 $25 $10 $0 -$20