© Macmillan Learning The accompanying graph depicts the marginal cost (MC), average total cost (ATC), demand, and marginal revenue (MR) curves facing a monopolistically competitive firm. Place point A at the profit-maximizing price and quantity combination for the firm. What is the total profit made by the firm? Profits: $ Price 20 19 19.00 18 17 MC 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 MR 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Quantity A ATC 17Demand

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