Yorkville university answer in word not on the paper

more than ONE document for your assignment. 1 Under what conditions should a competitive him shut down in the short runi Snellyeqdamn why (10 points) 2. al Using appropriate graphs, explain how and why the demand curve for monopaliat firm differs from the demand curve of a firm in perfect competition? bj what do firms in perfectly compelilive markets and mongpulse competire market have in our mon? How are they different in the long run? (70 points) 3. For each of the following observations about an industry briglly explain whether it charter ces e finn that is perfectly competitive or not perfectly competitive. oj The firms are spending lots of money on adver lising b] The firms are currently making economic profits in the short run. ci Two firms produce 60 percent of the totalindustry output. d) The firms issue coupons offering _ price discount. 20 points]