8 (1 point) A competitive firm faces the following market price: P-200. Variable costs are C(Q)=Q^2. The firm also pays $17000 in costs that do not depend on production (even if q=0). Hint - marginal cost is MC(Q)=2*Q NOTE - KEEP YOUR CALCULATIONS. THIS INFORMATION WILL BE USED IN MULTIPLE QUESTIONS What is the profit of this firm (ECONOMIC profit, ignoring sunk costs) -7000 -17000 10000 Question 9 (1 point) What industry is most likely, in your opinion, to be a perfectly competitive industry? None of those are likely competitive Internet search Supply of electricity to households Fast food stores near DePaul Question 10 (1 point) If a firm has negative accounting profits in the short run, it should All other answers are incorrect Close since accounting profits are negative Stay open if economic profits are positive Stay open regardless of economic profits