(Solved): 2. Understanding excess capacity The following table shows the daily cost data and demand schedule ...

2. Understanding excess capacity The following table shows the daily cost data and demand schedule for a typical firm produding board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenve, and Marginal Revenve columns in the following table and then answer the questions that follow. Under monopolistic competition, o typical firm will produce board games at a price of per board game in the short run. Besed on your calculations, the firm will FIN in the Average Total Cost column in the provious table. Based on your cakulations, the level of excess capacity in this monopolistically competitive market is