EXHIBITS:

Email X To: Andrew Austin, Accounting Associate From: Laura Fuller, Accounting Manager RE: Economic Profits Hi Andrew, Per our discussion, I am attaching the short- and long-run supply and demand curves of our four products. Please calculate their economic profits. Below are the meanings of the terms we use in the curves. Term Meaning ATC Average Total Cost MC Marginal Cost MR Marginal Revenue STD Short-Term Demand LTD Long-Term Demand Let me know if you have any questions. Thank you, Laura Fuller Accounting ManagerSupply and Demand Curves (Read Only) Product I Short-run Long-run Price MC Price MC ATC ATC BO MR/STD 70 80 MR/LTD 350 450 500 600 Quantity 500 Quantity Product II Short-run Long-run Price Price MC 125 110 MC 100 ATC -ATC MR STD 550 650 750800 Quantity Quantity Product Ill Short-run Long-run Price MC Price MC ATC ATC 145 130 100 115 90 55 MR STD YMR LTD 600 700 600 900 1000 Quantity 700 300 1000 QuantityProduct IV Short-run Long-run Price Price MC MC ATC ATC DEL 190 125 180 120 170 115 160 110 150 100 130 100 MR STD MR LTD 500 600 800 900 1000 Quantity 600 700 900 1000 1100 QuantityEXHIBiTS E Suppl}r and Demand Curves (Read Dr E Email A company sells tour products in four different markets. each with its own market structure. For each of the following products listed in column A, select from the option list provided the relevant market structure {column B}; and enterthe appropriate amount in the associated cell for shortrun [column C) and longrun (column El) protmaximizing economic profits. Enter all amounts as whole numbers. Use a leading minus sign {jl to denote ant,r losses. If the amount is zero. enter a zero {U}. A B C D Short-run prot- Long-run prot- il Product Market structure maximizing economic maximizing economic prot {loss} prot [loss] E 12.: 1a.: 2 i 3 II E its 123 4 III E 123- 123 5 W E 1:: 133 Select an option below O Pure competition O Monopoly Monopolistic competition O Oligopoly RESET CANCEL ACCEPTC D Short-run profit- Long-run profit- maximizing economic maximizing economic profit (loss) profit (loss) 123 123 FORMATTED RESPONSE 123 123 RESET CANCEL ACCEPT 123 123 123 123