need help please :) two questions being labeled 4 is a typo

1. Suppose that the paper clip industry is perfectly competitive. Also assume that the market price for paper clips is 2 cents per paper clip. The demand curve faced by each firm in the industry is: a. A horizontal line at 2 cents per paper clip. b. A vertical line at 2 cents per paper clip. c. The same as the market demand curve for paper clips. d. Always higher than the firm's MC curve. 2. Use the demand schedule below to determine total revenue and marginal revenue for each possible level of sales: Product Quantity Total Marginal Price Demanded Revenue Revenue $2 2 No No No No a. What can you conclude about the structure of the industry in which this firm is operating? Explain b. Graph the demand, total-revenue, and marginal-revenue curves for this firm. c. Why do the demand and marginal-revenue curves comcide? d. "Marginal revenue is the change in total revenue associated with additional units of output." Explain verbally and graphically, using the data in the table. 3. A perfectly competitive firm whose goal is to maximize profit will choose to produce the amount of output at which: a. TR and TC are equal. b. TR exceeds TC by as much as possible. c. TC exceeds TR by as much as possible. d. none of the above. 4. If it is possible for a perfectly competitive firm to do better financially by producing rather than shutting down, then it should produce the amount of output at which: a. MR MC. d. none of the above.5. A perfectly competitive firm that makes car batteries has a fixed cost of $10,000 per month. The market price at which it can sell its output is $100 per battery. The firm's minimum AVC is $105 per battery. The firm is currently producing 500 batteries a month (the output level at which MR = MC). This firm is making a and should production. a. profit increase b. profit; shut down c. loss increase d. loss; shut down 6. Consider a profit-maximizing firm in a competitive industry. For each of the following situations, indicate whether the firm should shut down production or produce where MR = MC. a. P minimum ATC. c. Minimum AVC