Graph an unregulated profit-maximizing monopoly (in the short-run) that is incurring a short-run loss but is minimizing those losses by choosing to continue to produce. Be sure to include the marginal revenue curve, the marginal cost curve, the average total cost curve, and the average variable cost curve.

The information is to help answer this question:

At the profit maximizing level of output, the monopoly price is $50 and the quantity is 10,000

a. Total revenue is?

b. Total cost is (determine this based on your cost curves - your answer must match your graph)

c. Total fixed cost is?

d. Total variable cost is?

e. Total loss is?

f.Explain how you know that this monopoly is better off staying in business despite the loss.