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Can ANYONE explain the below problems to me and tell me in little words how to solve these problems? Total Cost Variable Cost Quantity dollars)

Can ANYONE explain the below problems to me and tell me in little words how to solve these problems?

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Total Cost Variable Cost Quantity dollars) dollars) 0 $1,000 100 1,360 360 200 1,560 560 300 1,960 960 100 2,760 1,760 500 4,000 3,000 600 5,800 4,800 Table 12-1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. 7) Refer to Table 12-1. What is the fixed cost of production? 7) A) $0 B) $500 C) $1,000 D) It cannot be determined. 8) Refer to Table 12-1. If the market price of each camera case is $8, what is the profit-maximizing 8) quantity? A) 300 units B) 400 units C) 500 units D) 600 units 9) Refer to Table 12-1. If the market price of each camera case is $8, what is the firm's total revenue? 9) A) $2,400 B) $3,200 C) $4,000 D) $4,800 10) Refer to Table 12-1. If the market price of each camera case is $8 and the firm maximizes profit, 10) what is the amount of the firm's profit or loss? A) $0 (it breaks even) B) loss of $1,000 C) profit of $440 D) loss of $440 11) Refer to Table 12-1. Suppose the fixed cost of production rises by $500 and the price per unit is still 11) $8. What happens to the firm's profit-maximizing output level? A) It will remain the same. B) It must rise to offset the increased cost. C) The firm will shut down. D) It must fall. 12) Refer to Table 12-1. The firm will not produce in the short run if the output price falls below 12) A) $8. B) $4. C) $3.20. D) $2.80

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