Please answer the following questions:

3. Use the table to answer the questions below. Average Total Marginal Marginal Variable Average Quantity Price Revenue Revenue Total Cost Cost Cost Total Cost 0 0 0 1,500 50 35 1,750 35 2,600 22 22 52 100 34 3,400 33 3,400 16 19 34 150 33 4,950 31 4,100 14 17 27 200 32 6,400 29 4,700 12 16 24 250 30 7,500 22 5,000 6 14 20 300 28 8,400 18 5,500 10 13 18 350 26 9,100 14 6,200 14 13 18 400 25 10,000 18 7,100 18 14 18 450 24 10,800 16 8,200 22 15 18 A. Is this business operating in the long run or the short run? 8. At what quantity and price is this business prot maximizing? C. When this firm is prot maximizing, is it earning a profit, loss or zero economic profits? D. If our firm is a monopolistic competitive firm and has decided to advertise. With this decision, the profit maximizing quantity and price at that quantity remains the same but the average total cost has increased to $28 and average variable cost has increased to 520. How does this decision to advertise impact the company? E. Graph what happens in part D. Label everything