Price MC X ATC 525 $20 $17 $14 $10 Quantity a) The profit-maximizing price and quantity are found by locating where . equals .. and moving up to the . .. curve to find individuals' willingness to pay. Thus, the profit-maximizing price and quantity are ......and ........... respectively. b) The total revenue at this output level is It is calculated by multiplying the ........... by 49.sen. and is S.. c) The total cost at this output level is found by moving up from the profit maximising quantity to the ...................; curve to find the at this output level d) The total cost at this output level is It is calculated by multiplying the _ .... by the .. .. and is $. e) Total profit equals total revenue .... .. total cost and is S. () price and quantity combination that creates the greatest economic welfare for society