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Question 5 (1 point) Suppose that a price-taking firm in a perfectly competitive market has the following cost function: C(Q) - A +0.5Q2 where A=$200.0 are fixed cost. Also, MC(Q)-Q. All fixed cost are sunk. What is the firm's shut down price? No units, no rounding. Your Answer: Your AnswerQuestion 2 (1 point) Suppose that two firms firms have the same avoidable fixed cost and the same variable cost. The only difference between the two firms is that firm 1 has larger sunk cost than firm 2. We expect firm 1 to have a larger shut-down price than firm 2. O True O False Question 3 (1 point) Suppose that two firms have the same avoidable fixed cost and the same variable cost. The only difference between two firms is that firm 1 has larger sunk cost than firm 2. We expect that firm 1 has a smaller profit than firm 2. O True FalseQuestion 6 (1 point) Suppose that a price-taking firm in a perfectly competitive market has the following cost function C(Q) - A + 0.502 where A=$150.0 are now avoidable fixed cost. Also, MC(Q)=Q. What is the firm's shut down price? No units. If necessary, round to 2 decimal places. Your Answer: Your