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{"ops":[{"insert":"For the following industries, identify factors used in those industries that in the short run are (i) fixed; (ii) variable. a. Spanish La liga b. Michelin star restaurant. 3. Distinguish between an inferior good and a Giffen good. This can be done intuitively or graphically using indifference curves. 4. Indicate what the profit maximizing condition is for? a. A Perfect competitive firm b. A Monopolist c. Show graphically the profit maximizing condition in part a, and b. d. Explain intuitively the profit maximizing condition in part a, and b.\n"}]}
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