Use the following to answer question:
Figure: The Profit-Maximizing Output and Price 
-(Figure: The Profit-Maximizing Output and Price) Use Figure: The Profit-Maximizing Output and Price.Assume there are no fixed costs and AC = MC.At the profit-maximizing quantity of production for the monopolist,total revenue is _____,total cost is _____,and profit is _____.
Definitions:
Latency Stage
The fourth stage in Freud's psychosexual stages, occurring from about age 6 to puberty, characterized by the sublimation of sexual impulses into socially acceptable activities.
Psychosocial Development
A theory by Erik Erikson that outlines eight stages of psychological development that individuals go through from infancy to adulthood, each characterized by a specific challenge.
Deductive Reasoning
A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.
Ambiguous
Something that is open to more than one interpretation, explanation, or meaning, not having a single clear definition.
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