this is question with multiple choice. It will be on file please

Question 12 Long-run economic profits would most likely exist in which market structure? O monopoly and oligopoly O monopoly only O monopoly and monopolistic competition O monopoly. monopolistic competition and oligopoly Question 13 Specializing in the production of a good or service in which one has a comparative advantage enables a country to do all of the following except O consume a combination of goods that lies outside its own production possibilities frontier. O produce a combination of goods that lies outside its own production possibilities frontier. O engage in mutually beneficial trade with other nations. O increase the variety of products that it can sume with no increase in resources. Question 14 Which of the following costs will not change as output changes? O marginal cost O average fixed cost O total fixed cost O total variable cost O average variable cost Question 15 The variety of products and features which consumers may choose from in monopolistically competitive industries: O Makes the demand curves facing firms in these industries perfectly elastic O Leads to an optimal allocation of resources in the market structure O At least partially offsets the ties of this market structure O Guarantees that firms produce at full-capacity output levels Question 16 For a firm that can effectively price discriminate, who will be charged a lower price? O buyers that are members of the smallest market segment O buyers that are members of the largest market segment O customers who have an elastic demand for the product O customers who have an inelastic demand for the product Question 17 Suppose the equilibrium price in a perfectly competitive industry (a price taker) is $15 and a firm in the industry charges $21 Which of the following will happen? O The firm's revenue will increase. O The firm will sell more output than its competitors. O The firm's profits will increase. O The firm will not sell any output