Question 1 4 pts Examine the table above, which gives information about the costs of a perfectly competitive firm. You are hired to determine the profit-maximizing quantity for the firm at different prices. For each price listed, you must find the output level, total revenue, total cost, and profit. When the market price is P = $14, What is the profit maximizing level of output? What is total revenue at this level of output? What is the total cost at this level of output? What is the profit at this level of output?Question 2 4 pts Examine the table above, which gives information about the costs of a perfectly competitive rm. You are hired to determine the protmaximizing quantity fur the rm at different prices. For each price listed, you must nd the output level. total revenue, total cast. and pruflt. When the market price is P = $18, What is the prot maximizing level of output? What is total revenue at this level of output? What is the total cost at this level of output? What is the prot at this level of output? Question 25 2 pts Figure A a. The industry b. A representative firm MC ATC AVC Price per bushel ($) D 10 12 13 15 Bushels of wheat Bushels of wheat Refer to Figure A. In which of the following price ranges will the firm continue to operate but at a loss? O $5-$6 O $6-$7 O $7-$8 O $8-$9Question 3 4 pts Examine the table above, which gives information about the costs of a perfectly competitive rm. You are hired to determine the prot-maximizing quantity for the rm at different prices. For each price listed, you must nd the output level, total revenue, total cost, and prot. When the market price is P = $44, What is the prot maximizing level of output? What is total revenue at this level of output? What is the total cost at this level of output? What is the prot at this level of output? Question 34 12 pts Suppose a monopolist faces the following demand curve: P = 250 2Q Marginal cost of production is constant and equal to $10, and there are no xed costs. What is the monopolist's prot-maximizing level of output? ' What price will the prot-maximizing monopolist charge? , How much prot will the monopolist make if she maximizes her prot? What would be the value of consumer surplus in this monopoly market? How much consumer surplus would there be if this market was perfectly competitive? What is the value of the deadweight loss when the market is a monopoly? Question 35 12 pts Suppose a monopolist faces the following demand curve: P = 596 4Q Marginal cost of production is constant and equal to $60, and there are no xed costs. What is the monopolist's prot-maximizing level of output? ' What price will the prot-maximizing monopolist charge? How much prot will the monopolist make if she maximizes her prot? , What would be the value of consumer surplus in this monopoly market? How much consumer surplus would there be if this market was perfectly competitive? What is the value of the deadweight loss when the market is a monopoly? Question 4 4 pts Examine the table above, which gives information about the costs of a perfectly competitive rm. You are hired to determine the prot-maximizing quantity for the rm at different prices. For each price listed, you must nd the output level, total revenue, total cost, and prot. When the market price is P = $53, What is the prot maximizing level of output? What is total revenue at this level of output? What is the total cost at this level of output? What is the prot at this level of output? Question 5 4 pts Examine the table above, which gives information about the costs of a perfectly competitive rm. You are hired to determine the prot-maximizing quantity for the rm at different prices. For each price listed, you must nd the output level, total revenue, total cost, and prot. When the market price is P = $70, What is the prot maximizing level of output? What is total revenue at this level of output? What is the total cost at this level of output? What is the prot at this level of output?