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Problem 4. (20 marks) In Akron, Ohio, the movie market is monopolistically competitive. The demand function for daily attendance and the long-run total cost function

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Problem 4. (20 marks) In Akron, Ohio, the movie market is monopolistically competitive. The demand function for daily attendance and the long-run total cost function at the Plaza Movie House are, respectively, P -9-0.040 and TC = 10Q - 0.060' + 0.09010 (A) What will be the number of patrons (6-43]) per day at that price? (B) Calculate the price that the Plaza Movie House will charge for admission to movies in the long run. (C) What is the value of the LRAC that the firm will incur? (D) How much profit will the firm earn

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