Consider the following graph of a monopolistically competitive firm: 50 45 40 35 ↑ Price 20 15- 10- MC ATC MR 10 20 30 40 50 60 70 80 Quantity a. When the firm profit maximizes, what is the amount of the firm's profit or loss? Is this firm in the short run or long run equilibrium and why? b. Assume that this firm is typical of other firms in the industry. Given the profit (or loss) that firms in the market are earning, what adjustments will happen in the long run for the market to reach long run equilibrium? c. What is the similarity between the long run equilibrium of this monopolistically competitive firm from a perfectly competitive firm? What is (are) the difference(s) in their long run equilibrium situation (consider price and output levels)?

Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700   Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order?  At what quantity of bags will profits be maximized? A   Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B   Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C   Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D   Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.

What is the fixed cost? what is the AVC quantity of 10 quantity.       Total cost  0.                    1000 10.                    2000 20.                   4000

The tabulated factors stop at n = 100. how can they be used to calculate (P/F,i,150) and (P/F,i,200)?

Evaluate the costs and benefits associated with achieving ISO 9000/9001 certification status for a specific product- or service-based company.