Use the following to answer questions: 
-(Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. If the Saints were a perfectly competitive firm in a perfectly competitive industry, their profit-maximizing price and output, respectively, would be:
Definitions:
Frequency
The number of cycles (of a repeating event) per unit time, measured in hertz (Hz) in the context of waves or electrical signals.
Synchronous Speed
The rotation speed at which the magnetic field in the stator rotates in synchronous machines, typically equal to the AC supply frequency divided by the number of pole pairs.
Synchronous Motor
An AC motor that operates at a constant speed, set by the power supply frequency, and whose rotor is synchronized with the magnetic field of the stator.
Amortisseur Winding
A squirrel-cage winding on the rotor of a synchronous motor used for starting purposes only.
Q2: The competitive model assumes all of the
Q10: Given the large amount of interdependence among
Q12: (Figure: Marginal Product of Labor) Look at
Q34: To maintain profits in the long run,
Q72: The demand curve for a monopoly is:<br>A)
Q101: (Table: Cherry Farm) Look at the table
Q116: The market for breakfast cereal contains hundreds
Q195: (Table: Prices and Demand) Look at the
Q302: (Figure: Water Works) Look at the figure
Q316: If the price is less than the