Pierre's Motorized Pirogues and Mudboats is setting up an acceptance sampling plan for the special air cleaners he manufactures for his boats.His specifications,and the resulting plan,are shown on the POM for Windows output below.In relatively plain English (someone else will translate for Pierre),explain exactly what he will do when performing the acceptance sampling procedure,and what actions he might take based on the results. 
Definitions:
Monopoly Power
The exclusive ability of a company to determine the price and production level of a product or service in the market.
Marginal Revenue
The gain in revenue resulting from the sale of one extra unit of a good or service.
Marginal Cost
The price of making an additional unit of a product or service.
Perfect Competition
A market setup where numerous buyers and sellers interact, offering identical products, with no barriers to entry or exit, and complete transparency of information, resulting in suppliers having no control over prices.
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