Select choices which are true about Average Fixed Costs.$($Select all that apply.$)$

Question $2$ options:

$($change in Total Cost$)$ divided by $($change in Quantity$)$

always decreases as Quantity increases

always vertical

Average Total Cost minus Average Variable Cost

Total Fixed Cost divided by Quantity

always horizontal

Question $3(2$ points$)$

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Which of the following are characteristics of a monopoly market?$($Check all that apply.$)$

Question $3$ options:

P $>$ MC at the profit maximizing quantity

In the long run, only zero economic profit possible

In the long run, firms operate at the minimum of the ATC curve

In the short run, positive economic profit possible

MR $=$ MC at the profit maximizing quantity

Significant barriers to entry

In the short run, only zero economic profit possible

In the long run, positive economic profit possible

Easy entry$/$exit

P $=$ MC at the profit maximizing quantity