Please solve all these questions and make sure it is right. Also no cursive and explain why it is right with actual evidence from other sources. Make the answers clear and numbered. As soon as possible.

Part II: answer 2 of the 3 short answers(10 Points Each): 1. You are the CEO for a firm that sells Beats by Dre headphones. Your firm has the following Average total cost schedule: Quantity Average Total Cost 800 Beats by Dre $500 801 $501 Your current level of production is 800 devices, all which have been sold. Someone calls, desperate to buy one unit. This means you would have to increase production to 801 units. The caller offers you $1100 to produce the extra unit. a. Should you accept this offer? b. What is the net change in the firm's profit? 2. What are the barriers to entry for Imperfect Markets? 3. What are the main characteristics of a Perfectly competitive market. Explain what they imply for a perfectly competitive firm