Question: May I please have some help with the problem in the attached screenshot? Boyd has the following utility function: U = 10034/6 , where B

May I please have some help with the problem in the attached screenshot?

Boyd has the following utility function: U = 10034/6 , where B represents books and C represents audio CDs Bundle A contains 5 unit(s) of good B and 9 units of good C. Bundle E contains 9 units of good B and 4 units of good C. Which bundle does he prefer? |:| (enter an A, E, or I if you are indifferent). His total level of utility in this case is D (round your answer to one decimal place)

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1. Explain how the long run differs from the short run in pure competition. LO11.1

2. Relate opportunity costs to why profits encourage entry into purely competitive industries and how losses encourage exit from purely competitive industries. LO11.2

LO11.1 Explain how the long run differs from the short run in pure competition.