B. Based on your calculations, is Marios a perfectly competitive firm or a monopolistically competitive firm? Explain your reasoning. [1.5 Marks]

C. Discuss two differences between a monopolistically competitive market and a competitive market. [1.5 Marks]

Question 8 Question 4: Suppose that Table 2 below represents the demand schedule for Pizza at Mario's Italian restaurant. Table 2: Mario's Demand Schedule Price (SR) Quantity of pizza 26 30 24 60 22 90 20 120 18 150 16 180 14 210 A. Using the below table, calculate Mario's total revenue and marginal revenue. P Q TR MR 26 30 N/A 24 60 22 90 20 120 18 150 16 180 14 210