Suppose the figure to the right represents the market for a particular brand of shampoo, such as L'Oreal, Lancome, or Maybelline. Assume the market is monopolistically competitive. What is the firm's profit-maximizing price and quantity? The monopolistically competitive firm's profit-maximizing quantity is thousand bottles of shampoo, and its profit-maximizing price is $ per bottle. (Enter your responses as integers.) Price and cost (per bottle) 3.00- MC 2.80- ATC 2.60- 2.40- 2.20- 2.00- 1.80 1.60- 1.40- 1.20- 1.00- 0.80 0.60- 中 0.40- 0.20 MR 0.00+ 0 2 4 6 8 10 12 14 16 18 20 22 24 Quantity (shampoo bottles in thousands) LY

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