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d. He would sell 125 hot dogs and charge $2.75 e. The offer is tempting because it will allow him to sell his hot dogs at a higher price and have more customers as well. However the cost of the license seems high and it is unlikely that he will be able to charge enough to make up the loss. Question 2 a. Monopolistically competitive b. Perfectly competitive corn is just corn. There is not such thing special corn. c. Perfectly competitive copy is just copy. d. Monopolistic there is only one copy center. e. Monopolistically competitive f. Monopolistically competitive Question 3 The change in demand for oil over the next year is looked to in balance of the amount produced by the OPEC countries. However there is a problem with the issue of Iraq. Iraq is going to make more oil than it has during the war. This change in production will throw things out of balance. Other nations in OPEC will have to make their oil production less than before in order to make things normal again.
Approximate Word count = 698
Approximate Pages = 2.8
(250 words per page double spaced)
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