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The below Figure shows cost and demand curves for a monopolistically competitive producer of icedtea. Use the Figure to answer question 15 through 18
What is the profitmaximizing output level?
A.22 cases 

B. 
24 cases 

C. 
30 cases 

D. 
38 cases 
What is the firm's profitmaximizing price?
A 
12 

B 
13 

C 
14 

D 
16 
At the profitmaximizing output level the firm will
A. earn a profit of $176.
B. break even.
C. earn a profit of $88.
D. earn a profit of $60
Based on the diagram, one can conclude that
A. some existing firms will exit the market. 

B. 
new firms will enter the market. 

C. 
the industry is in longrun equilibrium. 

D. 
firms achieve productive efficiency 
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