A monopolist faces a market demand curve ghen by Qᴰ(P)=60−4P. They have a marginal cost curve of with a marginal cost (MC) curve given by MC=3+Q. a. Facing such a demand curve, the implication is that the firm's marginal revenue (MR) curve is MR=15−1/2Q. Use the profit-maximization condition for firms, which tells us that the firm should choose a level of output such that marginal revenue = marginal cost, to solve for the profit-maximizing level of output. (note that, with this profit-maximization condition we now have a system of three equations in three unknows1) b. Graph the MR, MC, and market demand curve, and identify the price that the monopolist should charge if they want to sell the quantity of output that you identified in part (a) above. c. Use the graph in part (b) above to identify and calculate Producer Surplus (PS) for the firm. Recall our definition from class, that PS is the difference between the price received and the marginal costs of production on all units produced and sold.