Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by:

q = 60 (1/2)p, where q is quantity sold per week.

The firm's marginal cost curve is given by MC = 60.

1. How much will the firm produce in the short run?

2- What price will it charge?

In addition to providing the quantitative answers for the question, please also describe the approach you used to arrive at your conclusions.