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QUESTION 11 4 points Save Ans If you have the following table that shows the costs of certain firm Quantity Fixed cost Variable costs Total cost Marginal cost (MC) (Q) (FC) (VC) (TC) 0 10 1 5 2 3 22 4 17 5 23 6 1- Based on the above table, does the firm operate in short run or long run? 2- Based on the above table, what is the value of fixed costs if the firm produces 3 units? 3- Based on the above table, what is the value of marginal costs at 4 units? 4- Based on the above table, what is the value of Average Total Costs (AC) at 5 units? For the toolbar, press ALT-F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px Ev A v _ v E E ...QUESTION 10 1 points Save Ans If a perfectly competitive firm incurs an economic loss in short run, it should: O A Shut down O B. Try to raise its O C. Shut down if loss exceeds fixed O D. Shut down if loss is less than fixed immediately. price. cost. cost