Q1. Briefly summarize this "loanable funds" theory in your own words. Identify at least one important Entrepreneur that you would consider an "Entrepreneurial Legend" and state why you consider the person to be (or have been) exemplary. Your reason for selecting the person should include examples of managerial economics and should include other criteria such as social responsibility and ethics. Remember to cite your authority and be careful not to plaigerize.
Q2. Current price of a case of toothpaste is $42.00, and the CPI has estimated its marginal cost function to be as follows: MC=.006Q. What would happen to the profit maximizing level of output if the market price suddenly rose to $54 per case?