Q1. Larry, Curly also Moe run the only saloon in town. Larry wants to sell as many drinks as possible without losing money. Curly wants the saloon to bring in as much income as possible. Moe wants to make the largest possible profits. Using a single diagram of the saloon's demand curve also its cost curves, explain how the price also quantity combinations favored by each of the three partners.

Q2. If the manager of impact industries decides to produce 240 units, illustrate what will the long-run total cost also long-run average cost of producing 180 units.