0 00 Q1 02 03 04 Quantity Look at the above graph to answer the following questions: 3. Write what area represents total cost at the prot-maximizing output level? (eg: 0P12Q2) b. Write what area represents prot? c. What is the prot per unit (average prot) at the prot-maximizing output level? d. If this industry was organized as a perfectly competitive industry, what would be the prot- maximizing price and quantity? Page 46 of 48