Please answer the following questions. State whether the answer is true or false and provide a one sentence explanation.

The following information is relevant for m following questions 16-17. It is known that the firm has fixed costs of 1005. The price in the competitive market is 505 per unit. Each additional unit costs 55 more then previous one, such that the first unit cost 55, the second one 10$ etc. In this case: 16. In the short run, the firm will produce 10 units. True/false Explain: 17. In the long run, the firm will shut down. True/false Explain