QUESTION 1 a maximizer. If a Florida orange stand operates in a perfectly competitive market, that stand's owner will be a price: b. discriminator c. taker. d. maker. QUESTION 2 a. more than $5 but less than $50. Elena sells scarves off the Santa Monica Pier in the summer through a kiosk she rents. Because of the location and type of good she sells, she is operating in a perfectly competitive market. If Elena sells 10 scarves at $5 per scarf, her marginal revenue is: b. $50. C $250 d.$5. QUESTION 3 (Figure: Playoff T-Shirts) Use Figure: Playoff T-Shirts. Edward is one of 10 vendors who sell playoff T-shirts at football games in a perfectly competitive market. His costs are identical to the costs of the other 9 vendors. If the price of a shirt is $6, the short-run industry supply will be Price _shirts. r cost MC ATC $14.. 110 ... AVC 14 20 22 24 Quantity a. 240 b.220 c. 140 d.0 QUESTION 4 (Table: Total Cost for Peter's Plum Pantry) Use Table: Total Cost for Peter's Plum Pantry. Peter is the largest producer of plums in California. He is also a price-taking profit maximizer. If the market price of plums is $3.50 per unit, the profit-maximizing output is_ units. Table: Total Cost for Peter's Plum Pantry Quantity per Total Cost Period $10 16 LO