Refer to the Monopolistic Competitive Firm Graph. If the monopolistically competitive firm is maximizing profits, what will its profit be? Monopolistic Competitive Firm Graph Price MC ATC AVC D MR Quantity Long Description O a. FGAB b. EFBC C. OGAD d. OFBD "Hide FeedbackRefer to the Pizzeria Matrix. In a small town, two pizza restaurants compete against each other. Each pizzeria needs to decide whether to advertise lunch specials. In the payoff matrix, the hourly profit is shown in the top-left for Becky's Pizza Parlour (A) and in the bottom-right for Makena's Pizzeria (B). What will be the outcome if the two restaurants work together to maximize their profits? Pizzeria Matrix Makena's Pizzeria (B) Becky's Pizza Parlour (A) Advertise Don't Advertise Don't Advertise Advertise $200 (A) $350 (A) $200 (B) $150 (B) $150 (A) $300 (A) $350 (B) $300 (B) Long Description a. Becky's Pizza Parlour will advertise and Makena's Pizzeria will NOT advertise. O b. Both Becky's Pizza Parlour and Makena's Pizzeria will advertise. O c. Neither Becky's Pizza Parlour nor Makena's Pizzeria will advertise. O d. Becky's Pizza Parlour will NOT advertise and Makena's Pizzeria will advertise.Refer to the Pizzeria Matrix. In a small town, two pizza restaurants compete against each other. Each pizzerias needs to decide whether to advertise lunch specials. In the payoff matrix, the hourly profit is shown in the top-left for Becky's Pizza Parlour (A) and in the bottom-right for Makena's Pizzeria (B). What is the Nash equilibrium? Pizzeria Matrix Makena's Pizzeria (B) Becky's Pizza Parlour (A) Advertise Don't Advertise Don't Advertise Advertise $200 ( A) $350 (A) $200 (B) $150 (B) $150 (A) $300 (A) $350 (B) $300 (B) Long Description a. Becky's Pizza Parlour will advertise and Makena's Pizzeria will NOT advertise. .b. Both Becky's Pizza Parlour and Makena's Pizzeria will advertise. O c. Neither Becky's Pizza Parlour nor Makena's Pizzeria will advertise. O d. Becky's Pizza Parlour will NOT advertise and Makena's Pizzeria will advertise. Hide FeedbackThe Organization of the Petroleum Exporting Countries (OPEC) is a cartel that restricts the supply of oil so that the price is higher and the member countries can enjoy a higher profit. Suppose Kuwait decides to increase the production of oil and Saudi Arabia follows suit and also increases its production. What strategy is this activity an example of? a. a dominant strategy b. a tit-for-tat strategy O c. a profit-maximization strategy O d. a payoff strategy Hide Feedback