figure 2: Stylers Inc. Price/ costs ATC MC AVC P58 PSO D/AR MR 420 480 Quantity/ output questions 1. This Incorporation is under monopolistic competitive market, what do you think is the situation of this industry? (1pt) 2. will this incorporation continue to produce if it is operating in the long run? why? (3pts) 3. we assume this figure shows that Stylers is operating in the short-run, How much is the profit this Inc. could earn? (4pts) 4. If this Inc, will produce at an amount of 480M units, does it both satisfy consumers and the company? Why? (4pts)