Table: Total Cost for a Perfectly Competitive Firm Quantity 1 2 10 Total Cost ($) 10 16 20 22 24 25 27 30 34 39 45 If the market price is $4.50, profit at the profit-maximizing quantity of output is: O $5.00. O $34.00. O $4.50. O $2.00. E E 2 pt An decreasing-cost industry is an industry in which average total costs decrease as industry output increases. True O False Question 16 Table: Total Cost for a Perfectly Competitive Firm Quantity 0 1 3 4 7 9 10 Total Cost ($) 10 16 20 22 24 25 27 30 34 39 45 Firm's breakeven price equals to $. Q 4.28 O 4.5 O 4.25 O 4.33