Question 3 Please, if you could give the step by step prompts to help me understand how and why to do the problem, not just the answer. Thank you.

Question 3 (10 points) Suppose a certain city has a monopoly cable-television company. This company has total costs TC = 0.502 + 563 + 10. (Hint: using calculus, this means M0 = Q + 5 since MO is the derivative of T0 with respect to output.) The demand in the community is approximated by the equation Qd = 50 - P. Graphically depict the demand curve as well as the marginal cost (MC) curve. If the cable company is free to choose its own price Pm and quantity 0 , graphically depict the monopoly equilibrium price and quantity. Add any other curve(s) to your diagram that may be required to obtain this outcome. Compute and state the exact monopolist equilibrium price Pm and quantity am that you depicted graphically. What will be the prot made by the monopolist in this case? Please explain how you calculated this prot