If, for a particular short-run production, we observe that marginal product is decreasing we can conclude that average product is decreasing as well

What kind of system is the United States economy based on?

Fill in the blank(s) with the appropriate word(s).

Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market

If Kevin trains 5 clients per day, he will ________ his profit and will ________. A) maximize; earn normal profit B) not maximize; earn a normal profit anyway C) maximize; earn an economic profit D) not maximize; earn an economic profit anyway E) not maximize; incur an economic loss