Draw a graph of the monopolistic competitor taking a loss in the graph below. 
Definitions:
Efficiency Variance
The difference between the actual amount of input (time, materials, etc.) used in production and the standard amount expected to be used.
Direct Labor-Hours
The sum of the hours spent by workers directly manufacturing a product.
Variable Overhead
Indirect production costs that fluctuate with the level of output, such as utilities or materials used in the manufacturing process.
Efficiency Variance
A measure used in cost accounting to evaluate the efficiency of resource usage, calculated as the difference between actual usage and the standard or expected usage.
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