(Answered) Well your report received a luke-warm reception the ceo of

Economics

Well, your report received a luke-warm reception. The CEO of Stoll's Pasty Farms expressed concern about several things. Uncle Tolvo's pasty crop was unique as his plants and soil structure were "one of a kind" and no one else could duplicate the quality of his pasty harvest. Given this fact, Stoll's Pasty Farm feels they can capture 1/10th of the pasty market through unique differentiation of their product.

Using information from question 1, what is the formula for the MR curve of Stoll's Pasty Farms?
Explain how this information can be used in determining the firm's profit maximizing output in the short run?
How might this situation change in the long-run?

[NOTE: Use an economic diagram to illustrate your answer to parts "b" and "c" and then explain your diagram in a manner that would make sense to your grandmother.]

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