Use the following to answer questions:
Figure: The Profit-Maximizing Output and Price 
-(Figure: The Profit-Maximizing Output and Price) Look at the 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:
Rivalry
Competition between businesses or individuals for market share, resources, or achievements.
Excludability
Excludability is a property of a good or service that allows its owner to prevent others from using it without permission, which is important for classifying goods in economic terms.
Public Good
Services or commodities made available to every person in a society free of cost, courtesy of either the government or non-governmental organizations, devoid of profit objectives.
Marginal Benefit
Marginal Benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.
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