In Akron, Ohio, the movie market is monopolistically competitive

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In Akron, Ohio, the movie market is monopolistically competitive. The demand function for daily attendance and the long-run average cost function at the Plaza Movie House are, respectively,</o:p>

P = 9 – 0.4Q</o:p>

and</o:p>

AC = 10 – 0.06Q + 0.0001Q²</o:p>

(a) Calculate the price that the Plaza Movie House will charge for admission to movies in the long run.</o:p>

(b) What will be the number of patrons per day at that price?</o:p>

(d) How much profit will the firm earn?</o:p>

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