11-9 What is the marginal revenue for the FIRM from selling the 250th unit of output? a. $10 b. $8 C. $6 d. $4 e. zero 11-10 What output should the firm produce? a. 200 b. 250 C. d. 150 300 The next two questions refer to the following figure: wor A $ Price and cost (dollars) 7 6 5 4 3 2 SMC D = MR 9 0 100 200 300 400 Output The graph shows demand and marginal cost for a perfectly competitive firm. 11-11 If the firm is producing 100 units of output, increasing output by one unit would firm's profit by $ a. increase, $3 b. increase, $2 C. decrease, $1 d. increase, $1 e. decrease, $2 11-12 If the firm is producing 300 units of output, decreasing output by one unit would firm's profit by $ a. decrease, $2 b. increase, $2 C. increase, $3 decrease, $5 increase, $5 the the 11-13 In order to minimize losses in the short run, a perfectly competitive firm should shut down if a. total revenue is less than total cost. b. total revenue is less than total fixed cost. C. total revenue is less than total variable cost. d. total revenue is less than the difference between total fixed cost and total variable cost.