Question 3 (15 points) Refer to the figure below. a. Which level of output maximizes profit? b. In order to maximize profit, what price should the firm charge? c. What is the total revenue which maximizes profit? d. What is the total cost which maximizes profit? e. What is the maximum profit? f. What will likely to happen in this industry in the long-run? Price $18 MC $15 Dollars ($) $12 ATC $8 $6 $4 Demand MR O 600 900 Units of output