If it costs Danitra $225 to create 4 necklaces and $275 to create 5 necklaces, then the marginal cost of producing the 5th necklace is $50

Refer to the above figure. The above figure shows the cost structure of a firm producing an information product. Which curve represents average total cost?

A) Any of the 3 could be ATC. B) Curve 1 C) Curve 2 D) Curve 3

A monopolistically competitive firm is one:

A. of many firms that all sell the exact same product. B. that behaves like a monopolist. C. of many firms that sell products that are close but not perfect substitutes. D. of a small number of firms that sell products that are close but not perfect substitutes.