Question: please give CORRECT answers, will rate helpful Question 9 (1 point) For a perfectly competitive firm producing the profit-maximizing quantity, the average total cost is

please give CORRECT answers, will rate helpful

please give CORRECT answers, will rate helpful Question 9 (1 point) Fora perfectly competitive firm producing the profit-maximizing quantity, the average total costis $10 and the average variable cost is $8. If the marketprice for its product is $10, which of the following is truefor the firm? 0 It is sustaining a loss and should shutdown. 0 It is earning zero economic profit and will remain inbusiness. 0 The firm is earning positive economic profit. 0 It will

Question 9 (1 point) For a perfectly competitive firm producing the profit-maximizing quantity, the average total cost is $10 and the average variable cost is $8. If the market price for its product is $10, which of the following is true for the firm? 0 It is sustaining a loss and should shut down. 0 It is earning zero economic profit and will remain in business. 0 The firm is earning positive economic profit. 0 It will temporarily shut down until the price rises. Question 10 (1 point) Even if short-run marginal costs decrease initially, they eventually increase because of the effects of: 0 Increasing marginal product 0 Increasing fixed costs 0 Diseconomies of scale 0 Diminishing marginal product Question 11 (1 point) In the short run, the firm will realize an economic loss but will continue to produce if the price is: 0 Below P2 0 Between P2 and P3 0 Between P3 and P4 0 Between P1 and P2 Question 12 (1 point) If output (Q) is increasing but so is the average total cost (ATC) then the firm must be facing: (select all that apply) Select 1 correct answerls) C] There is not enough information C] Constant returns to scale C] Economies of scale C] Diseconomies to scale Question 13 (1 point) Consider the below graph. The left side of the short-run ATC curve derives its shape from: O Decreasing willingness to pay 0 The long-run price 0 The spreading of fixed costs 0 Diminishing marginal returns Question 14 (1 point) Consider the below graph. Below which market price will make the firm shut down in the short run? Question 15 (1 point) Consider the below graph. At a price of $9, what will the firm do in the short run? / . 0 Shut down and save fixed costs 0 Increase output to increase total revenue 0 Exit the industry 0 Stay open and earn short run loses Question 16 (1 point) Consider the below graph. At a price of $18, what will be the profit

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