Hi, I need help understanding these monopolistic market. Can you please help me with the problems below? Thanks!

Which of the following is true of both monopolistically competitive markets and perfect competition? O the are both allocation efficient markets O they both over produce O There is few buyers or sellers O there is no long run economic profitsWhich of the following best describes what happens when firms enter an intil.:lstr';.ur with monopolistic competition? * O the average total cost curve shifts downward O the demand for existing firms decreases O the supply curve increases 0 the demand for existing firms increases Based your answers to the following questions on the graph below. Using the graph below. explain one reason whyr this is an example of an inefficient market. \"" U Q]! 02 03 Output YUUF EI'ISWEF