Homework: Monopolistic Competition, Oligopoly, and Game Theory (Ch 11) The following table shows the daily cost data and demand schedule for a typical firm producing board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenue, and Marginal Revenue columns in the following table and then answer the questions that follow Marginal Revenue Average Total Cost (Dollars) (Dollars) Quantity (Board games) 1 2 4 5 6 7 B Price Total Cost Marginal Cost (Dollars per game) (Dollars) (Dollars) 12.00 10.00 7.00 6.00 5.00 4.00 2.00 1.00 10 16 18 20 35 48 70 96 Under monopolistic competition, a typical firm will produce Based on your calculations, the firm will Fill in the Average Total Cost column in the previous table. 6 2 2 5227 15 13 26 Total Revenue (Dollars) board games at a price of S Based on your calculations, the level of excess capacity in this monopolistically competitive market is AA per board game in the short run.