1. Does monopolistic competition literally require zero profits for all firms? Explain. 2. Do monopolistically competitive markets have both entry and exit going on at the same time? Explain.

Only typed answer and don't use chat gpt and don't answer in table 2. Charlie consumes apples (A) and bananas (B). His utility function is . The price   of apples is $1, the price of bananas is $2, and Charlie’s income is $40. The price of bananas   suddenly falls to $1.   (a) Before the price change, how many apples and bananas did Charlie consume?   (b) After the price change, how many apples and bananas did Charlie consume?   (c) If after the price change, Charlie’s income had changed so that he could only attain his   original level of utility, how many apples and bananas would he have consumed?   (d) What are the magnitudes of the price, substitution, and income effects for the   consumption of bananas?

breakeven point explained

Maria takes out a 30-year mortgage at 5.5% to buy a house that costs $280,000. She must have a down payment of 3% of the purchase price.