1.One benefit of monopolistic competition is that:

Group of answer choices

a) firms do not waste money on advertising

b) tariffs cannot be placed on imported goods

c) resources are used with productive efficiency

d) consumers have greater product variety

2.

Given the following information for a monopolist: P = 400 - 2Q MR = 400 - 4Q MC = 6Q AC = 3Q What price will this firm charge at its profit-maximizing level of output