Firms in a monopolistically competitive market face ________ demand curves and earn ________ economic profits in the long run

The above table shows the short-run total product schedule for the campus book store. When the book store hires the 3rd employee

A) the bookstore is still experiencing increasing marginal returns. B) the book store has already begun to experience diminishing marginal returns, but average product is still rising. C) both marginal and average product have already begun to decline. D) marginal product is at its maximum.

The table above shows some data that describe Tom's T-Shirts' total product when Tom has 1 sewing machine

An increase in the number of workers from 1 to 2 a day increases average product of labor from ________ T shirts per worker and marginal product of labor is ________ T shirts per worker. A) 10 to 11; 22 B) 10 to 22; 12 C) 10 to 22; 22 D) 10 to 11; 12