Q Question 1 1 / 1 pts One of these four answers defines imperfect competition in the best way. Which one? Question 2 1 / 1 pts One of these four answers represents the characteristics of monopolistic competition in the best way. Which one? Question 3 1 / 1 pts If a monopolistic competitor raises its price, it ____________ customers than a perfectly competitive firm, but ____________ customers compared to the number that a monopoly that raised its prices would. Question 4 1 / 1 pts Village Bagels is a bagel store in a monopolisticly competitive market. Village Bagels collected the data presented in the table below to determine the profit-maximizing quantity at which it should produce and sell. What is Village Bagels’ profit-maximizing quantity? Quantity Price Total Revenue Marginal Revenue Total Cost Marginal Cost 10 $150 $1,500 $15 $800 $80 20 $120 $2,400 $90 $1,340 $54 30 $100 $3,000 $60 $1,720 $34 40 $80 $3,200 $20 $1,880 $20 50 $60 $3,000 ?$20 $2,020 $14 60 $40 $2,400 ?$60 $2180 $16 Question 5 1 / 1 pts If the firm is producing at a quantity of output where marginal revenue exceeds marginal cost, then,