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The following graph shows a monopolist that faces a market demand according to his cost functions. Answer all following questions: MC 122 ATC AVE D . AR H HR a. Define Monopoly b. What is the production level that will maximize profit ( or minimize loss) for the monopolist. Explain. C. Calculate the monopolist's total revenue (TR) at the production level that will maximize profit ( or minimize loss). d. Calculate the monopolist's total cost (TC) at the production level that will maximize profit (or minimize loss). e. What is the profit (or loss) the monopolist will make, at the production level that will maximize profit (or minimize loss)