Consider the firm's total costs shown in the table below. What is the firm's fixed cost and variable cost when the quantity produced is 20 units? Qty Total Cost 0 200 10 400 20 700 30 800 40 1100 Fixed Cost = 0, Variable Cost = 700 Fixed Cost = 350, Variable Cost = 350 Fixed Cost = 200, Variable Cost = 700 OFixed Cost = 200, Variable Cost = 500 Question 32 (1 point) The incidence of an excise tax depends on the price elasticity of supply and the price elasticity of demand. If the price elasticity of demand is _ _ _ _._ and the price elasticity of supply is _, then the excise tax is paid mainly by producers. O High (elastic), low (inelastic) O High (elastic), high (elastic) O Low (inelastic), Low (inelastic) 13'C Partly sunny ~ 49) 9 ENG 4:53 PM 11/10/20