105 MC ATC MR Demand 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100105110115120 1. This figure above depicts a situation in a monopolistically competitive market. 1 . What price will the monopolistically competitive firm charge in this market? ii. What is the monopolistically competitive firm's short-run profit in the market? iii. At the profit-maximizing level of output, what is this firm's total cost of production? iv . What is the firm's profit in the long-run