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QUESTION

# RECO 100 Society and the Value of Nature Chapter 11 Problem set 1. Which is a characteristic of monopolistic competition?

"32. Refer to the above graph. In the short run, this monopolistically competitive firm willset price at:A. $65 and produce 45 units of outputB.$65 and produce 35 units of outputC. $50 and produce 35 units of outputD.$50 and produce 50 units of output"33. Refer to the above graph. At the profit-maximizing level of short-run output, thismonopolistically competitive firm will be making a profit of:A. $275B.$350C. $500D.$525 I just need the answer to these two questions (number 32 and 33) . I have included the attachment so you can view the graph