Part C and D please! A. In the resource market, what is the impact on the demand for coal if the price of the substitute good, natural gas, increases?B. The table below represents a perfectly competitive market. If the industry price is $18, calculate the marginal revenue product for the second and third workers.\[\begin{array}{|c|c|}\hline\text{No of Employees} & \text{No of Washes} \\\hline1 & 10.00 \\2 & 19.00 \\3 & 26.00 \\\hline\end{array}\]C. Explain why the Value of the Marginal Product = Marginal Revenue Product for perfect competitors but these values are not equal for the monopolistic competitors.D. In a company, if the Marginal Revenue Product of the 8th worker hired is less than the MRC for that worker, should the firm hire the 9th worker? Explain.E. Graph the resource market for passenger and freight train engineers. Show the change in the wage rate and quantity of workers hired if there is a very large number of engineers retiring and the demand for rail travel has increased in the last year.

1. Number of firms: In both perfect and monopolistic competition, there exists a large number of firms. 2. Availability of substitutes: In perfect competition, all products are identical and therefore, are perfect substitutes of each other while in monopolistic competition, the products differ in color, shape, or any other attribute and serve the purpose of close substitutes but are not perfect. 3. Control over the market: In perfect competition, individual firms do not have any control over the market and have to sell their product at the industry price. While in monopolistic competition, Part C: Value of Marginal Product (VMP) = Marginal Product (MP)×Product Price (P) Marginal revenue product (MRP)=Marginal Revenue (MR)×Marginal Product(MP) Under perfect competition, marginal revenue is equal to the price of the product because all units of a good or service are sold at the same price due to perfect substitutes. Under monopolistic competition, Marginal revenue is not equal to the price of a product because, with each additional unit, the price in the market falls. Marginal revenue product (MRP) refers to the marginal revenue created by one additional unit of the variable factor while marginal resource cost (MRC) refers to the cost incurred to employ one additional unit of the variable factor. If MRP is less than MRC at 8th worker, then the firm should not employ 9th worker because it will increase the cost of the firm then the revenue earned by the 9th worker.