MC
200
180
160
140
120
100
80
ATC
60
40
20
MR
Q
0
20 40 60 80 100 120 140 160 180 200
Refer to the figure above. It illustrates a firm in a monopolistically competitive market. What is the firm's profit-maximizing price, quantity, and resulting profit?
P=$120, Q=120, profit=$14400
P=$140, Q=100, profit=$6000
P=$120, Q=120, profit=$2400
P=$140, Q=100, profit=$4000