1. Illustrate each of the following types of firms on separate graphs. On each graph, label the firm's profit or loss (if any). Numbers aren't needed. a) A profit-maximizing monopolistically competitive firm in the short run making a positive economic profit. b) A loss-minimizing monopolistically competitive firm in the short run which has shut down. c) A loss-minimizing monopolistically competitive firm in the short run which is operating but losing money. d) A monopolistically competitive firm in the long run attempting to maximize profits. 2. A PROFIT-MAXIMIZING COMPETITIVE FIRM MAKING A PROFIT IN S:R. A PERFECTLY COMPETITIVE, FIRM IN LIP EQUILIBRIUM 2. Illustrate each of the following types of firms on separate graphs. On each graph, label the firm's profit or loss (if any). Numbers aren't needed. a) A profit-maximizing oligopoly with a kinked demand curve in the short run making a positive economic profit. b) A cartel in the short run maximizing profits. @) A PERFECT COMPETITIVE FIRM SHUTTING DOWN IN S. R. 3. In the long run a monopolistically competitive firm is selling 100 brushes for $2 each. Calculate this firm's total revenue, total costs, and total profit. 4. In the long run a monopoly regulated to break even is producing 2000 megawatts of electricity at a total cost of $10,000. At what price per megawatt is the government's price ceiling set