Q Question 1 0.5 / 0.5 pts The graph depicts a monopolistically competitive firm. Refer to the above graph. This monopolistically competitive firm is earning economic profits in the short run and: Question 2 0.5 / 0.5 pts Refer to the above graphs. A short-run equilibrium that would produce profits for a monopolistically competitive firm would be represented by graph: Question 3 0.5 / 0.5 pts Refer to the diagram. If all monopolistically competitive firms in the industry have profit circumstances similar to the firm shown above, Question 4 0.5 / 0.5 pts A monopolistically competitive firm is producing at a short-run output level where average total cost is $10.00, marginal cost is $5.00, marginal revenue is $6.00, and price is $12.00. In the short run, the firm should: Question 5 0.5 / 0.5 pts The graph depicts a monopolistically competitive firm. Refer to the above graph. In the short run, this monopolistically competitive firm will set price at:

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