Home X B 6-1 Quiz - ECO-201-T2864 Microt x MindTap - Cengage Learning * *Course Hero X + X A ng.cengage.com/staticb/ui/evo/index.html?deploymentld=5981412353502464190243042516&eISBN=9780357133576&id=1327466632&snapshotld=2654212& CENGAGE |MINDTAP Q Search this course ? My Home Module Six Quiz X Courses Back to Assignment Catalog and Study Tools Attempts Keep the Highest / 4 A-Z Rental Options 5 . How short-run profit or losses induce entry or exit College Success Tips Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph shows Fantastique's demand curve, marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). Career Success Tips ? Help Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit or loss. Give Feedback (?) 500 .+ 450 400 Monopolistically Competitive Outcome 350 300 Profit or Loss At PRICE (Dollars per bike) 250 200 150 O 100 50 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is making negative _ profit, which means there are an equal number of shops in the industry relative to the long-run equilibrium. M 8 0 4:38