2. Given the data in the table, at what quantity would a purely competitive firm cover all of its costs and earn only normal profits? Calculate. Price 5555 Quantity 5 TFC 30 TVC 10 10 30 20 15 30 50 20 30 60

What is your average direct sale price to Online consumers? How is your average different than the competition? Explain.

Should the government become more involved in the regulation of the Internet? Why or why not?

In 50 words, answer the following question: In class, we talked about how social media is a common resource. Do you think the providers of social media forums should regulate the behavior of users? If not, why not? If so, how? (Hint: think economically. How could the providers (not) solve the problems with common resources by regulating?)

What can be used to influence and shape consumers’ intangible preferences in order to differentiate products within a monopolistically competitive market? Group of answer choices pricing strategy product placement advertising

Cross-Rates 1€=$1.75, 1$=£1.75 Is there an arbitrage opportunity if €=£1? Yes No