3. (20 points) Suppose that an industry is characterized as follow: TC=100+2 Q2 MC=4Q Demand: P=90-2Q MR=90-40 a. Graphically illustrate the demand curve, marginal revenue, and marginal cost curve. b. If there is only one rm in the industry, nd the monopoly price, quantity and level of prot. c. nd the price, quantity, and level of prot if the rm is a price taker. d. Compare the monopoly level of prot from part b with the competitive level of prot from part c