The financial situation at Starbucks in the late 2000s illustrates the fact that maintaining long-run profits in a monopolistically competitive market is

Use the following table to answer questions a-c

Output (Q): 0 1 2 3 4 5 6 Total Cost (TC): $36 $45 $52 $61 $74 $91 $110 a. What is the average fixed cost of producing 4 units of output? b. What is the marginal cost of producing the third unit of output? c. At what level of output does the firm encounter diminishing marginal returns? How do you know?

Which of the following measures did the Fed take during the financial crisis of 2008? a. The Fed lowered the discount rate and paid interest on reserves held at the Fed. b. The Fed increased the reserve requirement ratio

c. The Fed sold all government securities. d. The Fed decreased its spending. e. The Fed increased the discount rate.