ATC AVC 0 At what price will the firm shown in the accompanying graph make just a normal prot? Select one: Large minimum efficient scale of plant combined with limited market demand may lead to Select one: O a. natural monopoly. O b. patent monopoly. O c. government franchise monopoly. O d. shared monopoly.Marginal product is Select one: O a. the change in total output attributable to the employment of one more worker. O b. the change in total revenue attributable to the employment of one more worker. O c. the change in total cost attributable to the employment of one more worker. O d. total product divided by the number of workers employed.An explicit cost is Select one: C a. emitted when accounting prots are calculated. it b. a money payment made for resources not owned by the firm itself. (I? c. an implicit cost to the resource owner who receiyes that payment. 33 d. always in excess of a resource's opportunity cost. Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The total revenues of Harvey's firm in the first year were Select one: =33 a. $220,000. C? b. $105,000. C? 0. $605,000. 9 d. $825,000. Which of the following is not a barrier to entry in an industry? Select one: C? a. economies of scale s: b. prot maximization C? c. strategic pricing C? cl. government licensing