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Assume that bagatelles are produced by a monopolistic competitive industry in both the US and in Europe. For the US and EU, firms have similar fixed costs (F) and marginal costs (c):$60,000,000 and $60 per unit respectively. Suppose that US and European sales units (S) are respectively given by the following figures as well: 30,000,000 and 120,000,000. A.) Graphically characterize the US market for bagatelles. Recall that the relationship between the number of firms (n) and the average costs of a typical firm can be depicted graphically by the CC curve and is given by the equation: AC=n(F/S)+c. In addition, the relationship between the number of firms and the price each firm charges can be depicted graphically using the PP curve given by: P=c+(450) where the sensitivity of a firm's sales to its price has already been included into the equation. Graph the PP and CC curves below, by plotting values for AC and P as n equals 5,10,15,20, 25 . Assume that bagatelles are produced by a monopolistic competitive industry in both the US and in Europe. For the US and EU, firms have similar fixed costs (F) and marginal costs (c):$60,000,000 and $60 per unit respectively. Suppose that US and European sales units (S) are respectively given by the following figures as well: 30,000,000 and 120,000,000. A.) Graphically characterize the US market for bagatelles. Recall that the relationship between the number of firms (n) and the average costs of a typical firm can be depicted graphically by the CC curve and is given by the equation: AC=n(F/S)+c. In addition, the relationship between the number of firms and the price each firm charges can be depicted graphically using the PP curve given by: P=c+(450) where the sensitivity of a firm's sales to its price has already been included into the equation. Graph the PP and CC curves below, by plotting values for AC and P as n equals 5,10,15,20, 25

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