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:
Average Total Cost
The total cost of producing a given output level divided by the quantity of output, including both fixed and variable costs.
Basketballs
Spherical balls used in the game of basketball, designed to bounce when thrown or dribbled on the court.
Total Variable Costs
The sum of all costs that vary with the level of output, such as materials and labor costs.
Earrings
Jewelry pieces designed to be worn on the earlobes or other parts of the ear.
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