8. (14 points) Ivan owns a donut shop in a busy city and operates in a monopolistically competitive market a. The term "monopolistic competition" is contradictory - in what sense is Ivan a monopoly? In what sense does Ivan operate in a competitive market? b. Boris claims that, since business is sometimes slow in Ivan's donut shop, he will definitely lose money Use the concept of excess capacity to argue that Boris is wrong Text Predictions: On 17 Accessibility: Good to go D 19