Answer the question on the basis of the following demand and cost data for a specific firm. Demand Data (1) Price Cost Data 2) Price (3) Quantity Output $ 12. 00 Total Cost $ 10. 00 6 6 11. 00 $ 6 3. 85 7 7 10. 00 8. 00 8 8 1. 00 64 7. 00 9 9 8. 00 67 6. 10 10 10 7. 00 72 5. 00 11 11 70 6. 00 4. 15 12 12 86 If columns (1) and (3) of the demand data shown are this firm's demand schedule, the profit-maximizing price will be Multiple Choice O $10.00. O $12.00. (Alt + A) O $9.00. O $11.00.Answer the question on the basis of the following short run demand and cost data for a specific firm. Demand Data Cost Data (1) Price (2) Price (3) Quantity Total Output Total Cost $ 80 $ 35 2 2 $ 45 76 30 3 3 55 72 25 4 4 70 68 20 5 5 30 64 15 6 6 115 60 10 7 7 145 56 5 8 8 180 In the long run, the number of firms in this monopolistic competitive industry will most likely Multiple Choice O stay the same. O The answer cannot be determined from the given data. O decrease. O increase.Answer the question on the basis of the following demand and cost data for a specific firm. Demand Data Cost Data 1) Price (2) Price (3) Quantity Output Total Cost $ 12. 00 $ 10. 00 6 6 $ 61 11. 00 3. 85 7 7 10. 00 8. OC 8 8 64 9. 00 7. 00 9 9 67 8. 00 6. 10 10 10 72 7. 00 5. 00 11 11 70 6. 00 4. 15 12 12 86 If columns (1) and (3) of the demand data shown are this firm's demand schedule, the profit-maximizing level of output will be Multiple Choice O 7 units. O 8 units. O 9 units. O 6 units