Use the following to answer questions:
Figure: A Rock Climbing Shoe Monopoly 
-(Figure: A Rock Climbing Shoe Monopoly) Look at the figure A Rock Climbing Shoe Monopoly. If the firm acts to maximize profit, the firm will sell _____ pairs of shoes at _____ per pair.
Definitions:
Raw Materials Production Needs
The essentials and quantities of raw materials required to fulfill the production schedule for goods.
Raw Material Purchases
The total cost of materials bought that are intended to be used in the production of goods.
Cost of Goods Sold
The immediate expenses linked to the manufacturing of products that a company sells.
Sales Forecast
An estimate of the quantity of goods or services that an organization expects to sell in a particular period.
Q3: (Figure: The Profit-Maximizing Output and Price) Look
Q4: If a perfectly competitive firm reduces its
Q88: An input whose quantity can be changed
Q94: Suppose the price elasticity of demand for
Q107: (Figure: Monopoly Profits in Duopoly) Look at
Q125: If the price is greater than average
Q159: In the short run, if a monopoly
Q223: If a perfectly competitive firm is producing
Q266: (Table: Total Cost and Output) Look at
Q308: Control of a scarce resource or input,