Suppose Firm A is the monopolist in producing cake. The daily market demand for cake is given by P =4-(2/3) Q, where P is the dollar price of a cake and Q is the unit of cake. The market price is set at $1 per unit of cake. (@) At the stated price level ($1), explain how the monopolists should change the output level to maximize the total revenue. (b) At the stated price level ($1), explain how the monopolist should change the output level to maximize the profit. (c) "To a monopolist, total revenue maximization is always the same as profit maximization". Explain whether the statement is true or false. (Hint: Relate your answers to the demand curve faced by a monopolist)