4) Often economists don't have complete demand schedules and cost curves - they must make do with a few numbers. Suppose that you have the following numbers for Rose's Tea Shop, a firm in a monopolistically competitive industry. TR = $1,200 TC = $700 Price = $12 MR = $10 TVC = $300 MC = $6 Explain how you know that: a) This firm is imperfectly competitive. b) This firm is not maximizing profits. c) This firm is operating in the short run. d) The demand curve is further to the right than it will be in the long run. e) Sketch the diagram for this firm based on the information above. Put numerical values where you can. Hint: start with points for the values above at the current q produced and then fit the curves as you know generally how they are shaped for this type of firm