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PRICE QUANTITY TOTAL COST (Thousands of (Rides per (Thousands of Dollars per Month) Dollars per Ride) Month) 220 80 200 160 180 260 160 370 140 520 120 680 Jenkins Hot Air Balloon Rides is a monopoly. The first 2 columns above show the demand schedule for Jenkin's; and the third column shows its total cost schedule. (Note that the above table can be copied into Excel, if you want to do any calculations there.) 1. The fixed costs of 4 rides is (10 pts) 2. The total revenues from selling 3 units is (10 pts) 3. The marginal revenues from selling the 2nd unit is (10 pts) 4. The marginal costs from selling the 5th unit is (10 pts)1. The fixed costs of 4 rides is (10 pts) 2. The total revenues from selling 3 units is (10 pts) 3. The marginal revenues from selling the 2nd unit is (10 pts) 4. The marginal costs from selling the 5th unit is (10 pts) 5. The average total costs of selling 4 units is (10 pts) 6 Calculate the following: (25 pts) a. the profit maximizing level of output (number of rides): b the profit maximizing price: c. the profit maximizing economic profit