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Use the following graph to answer the next question. A graph depicts 3 curves with costs and revenues on vertical axis and quantity on horizontal
Use the following graph to answer the next question. A graph depicts 3 curves with costs and revenues on vertical axis and quantity on horizontal axis.The horizontal axis lists values as 15, 20, and 35 and the vertical axis lists values as 0.60, 0.90, 1.05, and 1.25. The u-shaped curves labeled ATC and AVC are drawn above an increasing curve, MC that is near to the origin and rises high where ATC ends. MC intersects both AVC and ATC. The dotted straight lines from both the axes connects to the data points at curves as follows: data point (15, 0.60) at point of intersection of MC and AVC; (20, 1.25) at MC; (35, 0.90) at AVC; and (35, 1.05) at ATC. The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will produce how many units to maximize profits in the short run? Multiple Choice 0 20 35 15Which industry would be best characterized as monopolistically competitive? Multiple Choice Internet-search sites business cloud-computing services web design consulting smart-phone manufacturing
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