Happy Hands is a monopolistically competitive firm that faces the following demand schedule for its gloves. The rm has a fixed cost of $1 0 and a constant zero marginal cost. Price 05) (pairs of gloves) To maximize profit. how many pairs of gloves per day should Happy Hands produce? 0 We do not have enough information to determine the quantity. 0 3 pairs . O 4 pairs 0 5 pairs. Happy Hands is a monopolistically competitive firm that faces the following demand schedule for its gloves. The rm has a fixed cost of $10 and a constant zero marginal cost. Price ($) (pairs of gloves) 30 2O 18 16 12 U1 In the long run, what is the likely outcome for Happy Hands? O Happy Hands firm will not have any markup to its price. 0 Happy Hands will face lower demand and reach a long-run equilibrium at a lower price. O Happy Hands will not have any excess capacity. O Happy Hands will not charge a price that is exactly equal to the marginal cost. Happy Hands is a monopolistically competitive firm that faces the following demand schedule for its gloves. The rm has a fixed cost of $10 and a constant zero marginal cost. Price Quantity ($) (pairs of glows) 30 1 20 2 18 3 16 4 1 2 5 8 6 5 7 Which of the following statements about the market outcome is correct? 0 At the prot-maximizing quantity, Happy Hands is sustaining a loss of $4. 0 At the prot-maximizing quantity, Happy Hands earns a positive prot of $24. O Al the prot-maximizing quantity, Happy Hands earns a positive prot of $54. 0 At the prot-maximizing quantity, Happy Hands has zero economic profit