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Madame Defarge sells a plate of either gumbo or jambalaya for $ 6 . The food is made in the morning at her nearby restaurant,
Madame Defarge sells a plate of either gumbo or jambalaya for $ The food is made in the morning at her nearby restaurant, when the kitchen is otherwise unoccupied. Her crew of three, each of whom earns $ per hour, takes hours to make the meals required by Madame Defarge. In creating these meals, they use ingredients equal to $ Madame Defarge hires another worker to load her cart with food and sell it during the lunch hours. That worker costs $ per hour and typically sells out the entire cart of meals in hours. The cart is rented for $ per day week. The carts are not in operation on the weekends, when Madame Defarge is too busy at her restaurant. What factors make this a monopolistically competitive market? Mark all that apply. A There are many types of food from which students can choose. B Madame Defarge sells out the entire cart in hours. C Madame Defarge is one of many vendors. D Madame Defarge only operates on specific days. E There are no licensing fees for foodcart vendors. Madame Defarge's profit per meal is equal to $Enter your response rounded to the nearest penny. What would you expect to see happen in this business? A Firms would enter this market due to positive economic profit in the short run. B Firms would exit this market due to negative economic profit in the short run. C Firms would enter this market due to positive economic profit in the long run. D Firms would exit this market due to negative economic profit in the short run.
Madame Defarge sells a plate of either gumbo or jambalaya for $ The food is made in the morning at her nearby restaurant, when the kitchen is
otherwise unoccupied. Her crew of three, each of whom earns $ per hour, takes hours to make the meals required by Madame Defarge. In
creating these meals, they use ingredients equal to $
Madame Defarge hires another worker to load her cart with food and sell it during the lunch hours. That worker costs $ per hour and typically sells
out the entire cart of meals in hours. The cart is rented for $ per day week. The carts are not in operation on the weekends, when
Madame Defarge is too busy at her restaurant.
What factors make this a monopolistically competitive market? Mark all that apply.
A There are many types of food from which students can choose.
B Madame Defarge sells out the entire cart in hours.
C Madame Defarge is one of many vendors.
D Madame Defarge only operates on specific days.
E There are no licensing fees for foodcart vendors.
Madame Defarge's profit per meal is equal to $Enter your response rounded to the nearest penny.
What would you expect to see happen in this business?
A Firms would enter this market due to positive economic profit in the short run.
B Firms would exit this market due to negative economic profit in the short run.
C Firms would enter this market due to positive economic profit in the long run.
D Firms would exit this market due to negative economic profit in the short run.
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