Answer the following questions based on the accompanying graph. 
a. What area(s) of the graph represent total revenue for this firm if it were profit-maximizing?
b. What area(s) of the graph represent total cost for this firm if it were profit-maximizing?
c. What area(s) of the graph represent profits for this firm if it were profit-maximizing?
d. What area(s) of the graph represent deadweight loss if the firm were profit-maximizing?
Definitions:
Straight-Line Depreciation
A method of calculating the depreciation of an asset, where the cost is evenly spread over its useful life.
Renovation Cost
The expenses associated with updating or refurbishing an existing structure or space to improve its appearance or functionality.
Initial Investments
The initial outlay of cash required to start a project or an investment, often including purchase of equipment and other startup costs.
After-Tax Discount Rate
The discount rate that is applied to future cash flows after considering the effects of taxes.
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