The market for fertilizer is perfectly competitive. firms in the market are producing output but are currently incurring economic losses.
a. how does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertilizer?
b. draw two graphs, side by side, illustrating the present situation for the typical firm and for the market.
c. assuming there is no change in either demand or the firms’ cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, the quantity supplied by each firm, and the total quantity supplied to the market.

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).