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Part 2: Additional Practice- Assume instead that the costs of production changed for this monopoly so that the marginal cost (MC) and average total cost (ATC) for every unit was $50. 11. Under these new circumstances, identify the profit maximizing price and quantity. 12. Calculate the total revenue at the profit maximizing price and quantity. 13. Calculate the total cost at the profit maximizing price and quantity. 14. Calculate the profit or loss at the profit maximizing price and quantity. Video Help: https://goo.gl/kWuQYW Price $80 $70 $60 MC $50 ATC $40 $30 $20 $10 MR D 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Quantity