(11 marks) State whether each of the following statements are TRUE or FALSE. Give a brief explanation to your answer. a. Listed in the table is the long-run total cost for Firm A. The above table shows that the production of Firm A exhibits the diseeonomies of scale. (3 marks) b. A rm never operates on the downward-sloping portion of its AVC curve. (3 marks) c. To nd the prot maximizing level of output, a competitive rm nds the output level where price equals marginal revenue. (2 marks) (1. When a monopolist is generating zero economic prot, the monopolist has no personal income to support his or her daily expenses. Therefore, instead of running the monopoly, it is better for him or her to work as an employee in another rm to earn a wage