BE Math.Mich.Com | Dyr & 62 Mindtap - Cengage com/staticb/ul/evo/index.html?elSON=97803571336068d=15215521178snapshotld=29899568 G M Inbox (41) - cinwin4... S Home - Frontline E.. Students 1 5 impressive tiny h.. 5 Blink (1994) | | film- 3) Alpine Achievement Mini Matin-Maker. CENGAGE |MINDTAP Homework 11 Citrus Scooters is a company that manufactures electric scooters in a monopolistically competitive market. The following graph shows the demand curve, marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC) for Citrus. Place the black point (plus symbol) on the graph to indicate the short-run profit maximizing price and quantity for this monopolistically compenaive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit of loss. 500 Monopolisticaly Competitive Outcome 350 Profit or Loss PRICE (Dollars per scooter) 250 200 130 50 Demandy 150 200 350 30 150 40 500 grade-5-multiply-1 patNew Tab X Grade 5 Math Works * Grade 5 Fractions Wo * = Math-Aids.Com | Dyr. X MindTap om/staticb/ui/evo/index.html?elSBN=9780357133606&id=1521552117&snapshotld =2999956& G M Inbox (41) - cinwind... S Home - Frontline E. = Students @ 5 impressive tiny h.. S Blink (1994) | | ffilm.. ) Alpine Achievement Mini Matra CENGAGE | MINDTAP Homework 11 Given the profit-maximizing choice of output and price, Citrus Scooters is earning profit, which means there are sellers in the industry relative to the long-run equilibrium amount. Now consider the long run in which scooter manufacturers are free to enter and exit the market. Show the possible effect of this free entry and exit by shifting the demand curve for a typical individual producer of scooters on the following graph. O Demand PRICE (Dollars per smater] ThemandHomework 11 -O Demand PRICE (Dollars per scooter) Demand QUANTITY (Scooters) Which of the following statements are true for both monopolistically competitive markets and monopoly markets? Check all that apply. Firms are not price takers. Price is above marginal cost. 0 Firms can earn positive profit in the long run. Firms earn zero profit in the long run