3) [7' points) A monopolist can produce its output at a constant average and constant marginal of: ATC = MC = 5 The monopoly faces a demand curve given by the following function: {1: 53P And a marginal revenue curve that is given by the function: MR = 53 2E1 a} Draw the following: a. The firm's demand curve In. The firm's marginal revenue curve c. The firm's marginal cost curve b} What is the monopolist's profit maximizing price? c} What is the profit maximizing quantity for this monopolist? d} How much profit is the monopolist making? e] Suppose the market is no longer depicted by a monopoly, but has become perfectly competitive. What would the profit maximizing price and quantity be if the market were perfectly competitive