The table below shows data for Flo's Beach Ball Company, a monopolistically competitive firm. Price Quantity Total Cost TR MR MC
$10 6 $50
$9 7 $53
$8 8 $57
$7 9 $62
$6 10 $68

Required:
a. Use the columns above to calculate Total Revenue, Marginal Revenue, and Marginal Cost at each output level.
b. In order to maximize profit, how many beach balls should Flo's Company produce, and what price should the firm charge?
c. At the profit-maximizing output level, what is the firm's total profit?
d. Given your answer from (b), what will happen to the beach ball industry in the long-run? [Describe the steps that will occur.] What will happen to the profits for Flo's Company?

Which of the following best explains why treasury bonds have an effect on the size of the money supply? a. the amount of treasury bonds in circulation affects both unemployment and inflation. b. the government can spend more money and charge lower taxes by using treasury bonds. c. the federal reserve bank can buy and sell these bonds to raise or lower bank deposits. d. the interest paid on treasury bonds influences the interest rates charged by private banks. 2b2t

Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

Identify the three components of a family's culture and provide one example from your own experience