Answer questions #7-8 on the basis of the following diagram: Dollars 50 ATC 40 MR 30 20 10 0 200 - 400 600 800 1000 Output 7. In order to maximize profits or minimize losses this firm will produce (how many?) massesunits of output at a price of $ 8. At the optimum output level, what will the total profits or losses be? Use a + sign to indicate profits and use a - sign to indicate losses