“Market Structures” Please respond to the following:

• From the scenario, assuming Katrina’s Candies is operating
  in the monopolistically competitive market structure and faces the
  following weekly demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 +
0.01333Q and FC = $5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in $ and Q is in kilograms.
All answers should be rounded to the nearest whole number.

•  
• Algebraically, determine what price Katrina’s Candies
  should charge in order for the company to maximize profit in the short
  run. Determine the quantity that would be produced at this price and the
  maximum profit possible.

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Write a 1 page report, double spaced, 12 pt font, times new roman, 1″ margin. A cover sheet must be attached which list name course title date and assigned date.

Reference at least two ethical principles and provide a rationale for their use as evidence.

CASE 2: To Sell or Not to Sell

Chris Hunt has been in private practice for 10 years in a suburb of a large metroplex. Dr. Hunt graduated from an Advanced Education in General Dentistry Program (AEGD) and associated in a large general practice for 3 years before buying a building and opening a solo practice. Although all phases of general dentistry are performed, the focus of the practice is moving toward adult esthetic dentistry. Ms. Lisa Meyer is a dental hygienist who has been in Dr. Hunt’s practice full time for 3 years and enjoys a great relationship with her patients and an active schedule. Ms. Meyer has been a full time practitioner for 6 years, and this is the second office in which she has ever worked. Her greatest professional rewards are the trust that has developed between her and her patients and the improvement she has seen in their oral health.Dr. Hunt recently completed a continuing education series on esthetic dentistry and hired a practice management company to review the office. The course director and the management team both stressed the importance of using the hygienist to “sell dentistry” to patients. The course and the management team both identified certain phrases and inferences hygienists should use to help the patient make the “right” choice.Dr. Hunt approaches Ms. Meyer and explains her new role to her. Ms. Meyer is uncomfortable with this change in her job duties because she feels that she would be using her professional position to possibly unduly influence patients toward making certain treatment choices. “Am I taking advantage of the trust that I worked hard to establish with our patients?” she asks. “No,” Dr. Hunt replies. “Actually, you are educating our patients about the benefits of the highest quality care. In fact, to make this arrangement more attractive I am including an incentive plan with cash bonuses for every case that you sell.” This statement concerns Ms. Meyer because she feels that these incentives may eventually place her own economic self-interest in conflict with the patient’s best interest

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