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FRQ- need asap In the 1930s, Crescent Theatre was the first and only drive-in theatre operating in the area, giving them monopoly power over the

FRQ- need asap

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In the 1930s, Crescent Theatre was the first and only drive-in theatre operating in the area, giving them monopoly power over the town. Assume that Crescent Theatre is a profit-maximizing firm and due to the current times, is operating at a negative economic profit in the short-run. A. Draw a correctly labeled graph for Crescent Theatre and show each of the following. 1. The profit-maximizing price and quantity of tickets, labeled as PM and QM respectively Il. The area representing the negative economic profit, shaded completely B. Explain why Crescent Theatre continues to operate in the short run despite earning negative economic profit in the short run C. Would Crescent Theatre's total revenue increase. decrease, or stay the same if it decides to sell one fewer ticket than QM? Explain

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