The marginal costs (MC). average variable costs (AVC). and average total costs (ATC) for a monopolistically competitive firm are shown in the figure below. a. Identify the profit-maximizing price and quantity and show total profit. Instructions: Use the tool provided 'Pt. A' to identify the profit-maximizing price and quantity. Then use the tool provided 'Profit' to illustrate this area on the graph. Drag the points to move or resize. Price $60 Tools MC $50 PL. A Profit $40 ATC $30 $20 $10 MR D O 10 20 30 40 50 Quantity Instructions: Enter your answer as a whole number. If you are entering a negative number be sure to include a negative sign (-) in front of that number. b. At the profit-maximizing price and quantity. profit is: $ c. In the long run, other firms will [(Click to select) v | this market. (Click to select) " will [Click to select) v ] and the price of this good will [(Click to select) v]