____ 31. In Figure 11-2, which of the graphs represents a monopolistic competitor in long-run equilibrium?

____ 31. In Figure 11-2, which of the graphs represents a monopolistic competitor in long-run equilibrium? A. 1 b. 2 c. 3 d. 4 ____ 32. The monopolistically competitive firm in short-run equilibrium a. faces a downward-sloping demand curve. B. has a marginal revenue curve which lies below its demand curve. C. maximizes profit where MR = MC. D. All of the above are correct.