1. Many people note that the goal of maximizing the market value of the rm may be more appropriate than maximizing short-run prots because: (a) the market value of the rm is based on long-run prots. (b) managers will not focus on increasing short-run prots at the expense of long-run prots. (C) (d) this would more closely align the interests of owners and managers. all of the above 2. Bette's Breakfast, a perfectly competitive eatery, sells its \"Breakfast Special\" (the only item on the menu) for $5.00. The costs of waiters, cooks, power, food etc. average out to $3.95 per meal', the costs of the lease, insurance and other such expenses average out to $1.25 per meal. Bette should close her doors immediately. (3" continue producing in the short and long run. (a f O ( ( ( 3. An effective price oor [minimum price) causes a loss of Q... raise her prices above the perfectly competitive level. lower her output. (D l l ) continue producing in the short run, but plan to go out of business in the long run. ) ) consumer surplus only. b l l (c) consumer surplus for certain and possibly producer surplus as well. ) l (a ( producer surplus only. [d producer surplus for certain and possibly consumer surplus as well. (e neither producer nor consumer surplus. 4. If a monopolist sets her output such that marginal revenue, marginal cost and average total cost are equal, economic prot must be: (a) negative. (b) positive. (c) zero. (d) indeterminate from the given information