\fScenario #3 $300 I, 200 3 B O 3 E '8 100 B a I.) 50 0 Questions: 1. What is the rule for determining the prot maximizing output? 2. What is the prot maximizing output (quantity) for Scenario #1? 3. In Scenario #1, is the rm operating at a prot, loss or zero prot? 4. In Scenario #1, what is the rm's operating prot or loss amount in dollars? Write out how you computed this amount. 5. In Scenario #1, does this graph depict the short-run or long-run for this rm? 6. What is the prot maximizing output (quantity) for Scenario #2? 7. In Scenario #2, is the rm operating at a prot, loss or zero prot? Write out how you computed this amount. 8. In Scenario #2, what is the rm's operating prot or loss amount in dollars? 9. In Scenario #2, does this graph depict the short-run or long-run for this rm? 10. What is the prot maximizing output (quantity) for Scenario #3? 11. In Scenario #3, is the rm operating at a prot, loss or zero prot? Write out how you computed this amount. 12. In Scenario #3, what is the rm's operating prot or loss amount in dollars? 13. In Scenario #3, does this graph depict the short-run or long-run for this rm? 14. How does the long-run di'er -om the short-run in perfect competition