Price Cost ATC Demand Quantity The diagram below shows the demand and average total cost curve for Friedman Inc., a monopolistic competitor. Friedman Inc. produces chain in this market. In the diagram, the relationship between the demand curve and average total cost curve shows that Friedman Inc. currently earning a los breaking even earning a profit In the long run, which of the following is likely to happen Quantity The diagram below shows the demand and average total cost curve for Friedman Inc, a monopolistic competitor. Friedman Inc. produces chains in this mar the diagram, the relationship between the demand curve and average total cost curve shows that Friedman Inc. is currently Oraring loss breaking even Learning a profit In the long run, which of the following is likely to happen some firms will exit the market some firms will enter the market there will be no change in the market Shift the demand curve (by grabbing the big dot at the end) so it represents the long run so that Friedman Inc. is still in the market If Jose wants to maximize utility for the consumption of various items given a budget of $16%, which of the following would be needed to be considered? a Total Utility from all items above 100 A Marginal Utility of zero for all items The same Marginal Unility per dollar for all items A positive Marginal Utility per dollar for all items