For the Diagram of Average and Marginal Revenue and Average Total Cost and Marginal Cost, answer the following: 21) What is the profit maximizing quantity of output? 22) What is Price at the profit maximizing quantity of output? 1 23) What is Average Total Cost at the profit maximizing quantity? 124) What is Profit per unit at the profit maximizing quantity? 1 25) What is Total Profit? 1 26) What is the difference between Price and Marginal Cost at Qamax? 127) What is the quantity of output such that Price = Marginal Cost? 1 28) Using the "triangle method," estimated Deadweight Loss is? 1 29) What is Total Revenue at the profit maximizing quantity? 1 30) What is the ratio of estimated deadweight loss to Total Revenue? 31) What "market structure is this most likely representative of? a) Perfect Competition b) Monopolistic Competition c) Monopoly 1 32) What is the value of the Lemer Index? (L=(Pxmax -MCmax/Pmax) 133) What is the inverse of the slope of the P=f(Q)? 134) At the profit maximizing Q, what is the inverse slope of the demand curve times the P/Q ratio? In other words, what is the elasticity of demand at the profit maximizing Q? 1 35) What the negative of the inverse of the Lemmer Index, that is -1/L? 36) T/F Elasticity of demand at Qmax-L. $ per Unit 170 160 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 0 500 1000 1500 2000 2500 3000 Quantity of Ouptut per unit of time 3500 4000 4500 5000 -ATC -MC Price AR MR