Question 3 Suppose a monopolist producer faces an inverse demand curve expressed as: Q = 124 - + and a total cost curve: TC(Q) = 32Q + 40. (a) Derive the monopolist's marginal revenue curve. (b) Derive the monopolist's marginal cost curve. (c) What is the monopolist's profit-maximizing level output? (d) What price should the monopolist charge to maximize profit? (e) Show the profit maximizing decision graphically. Label the Marginal Cost, Marginal Rev- enue, and Demand Curves, as well as the profit maximizing quantity (Q*) and price (P*)