I'm struggling in this question, please help me explain. Thank you so much!

Choice One: 1. According to the accompanying table, what quantity of output should the profit-maximizing firm produce? Explain your answer. .240 80 Ian E E .- 2. Identify whether or not each of the following scenarios describes a competitive market, along with appropriate assumption. 0 Dozens of companies produce plain white socks. Consumers regard plain white socks as homogeneous and don't care who manufactures their socks. o A few major airlines account for the vast majority of air travel. Consumers view all airlines as providing basically the same service and will shop around for the lowest price. c There are hundreds of colleges that serve millions of students each year. The colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs. 0 The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm permitted to sell the drug. 3. Total industry sales are $105 million. The top four firms account for sales of $10 million, $9 million, $8 million and $5 million, respectively. What is the four-firm concentration ratio