(15 Points) Monopoly Question: curve) Use this graph of a monopoly to answer the following questions. (Note: the AC curve is the same as the ATC $20 Price $18 MC / AC $16 $14 $12 $10 $8 $6 $4 $2 $0 0 300 600 700 800 Quantity per day a) What is the profit maximizing level of output for the monopoly? Sion der To CAV b) What price will the monopoly charge for the good? c) Is the monopoly making a profit, or taking a loss? What is the size of the profit/loss? Shade in the profit/loss on the graph