Q1. Suppose that a calculator company operates in a perfectly competitive marketplace producing 5,000 Calculators every day. At this output level, marginal cost exceeds the marketplace price. It follows that producing one more Calculator will cause this firm's:

Q2. The 3 demand schedules in the table below elucidate how Elucidate how many rounds of golf every year Lorena will demand at every price under 3 different scenarios. In scenario D1, Lorena's income is $50,000 every year also movies cost $9 every. In scenario D2, Lorena's income is also $50,000 every year, but the price of seeing a movie rises to $11. Also in scenario D3, Lorena's income goes up to $70,000 every year, while movies cost $11.