Economics question

Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a perfectly competitive market at $50 per unit. Its average fixed costs are $35 and its average variable costs are $15 at 20 units of output. In the short run, this corporation: should shut down and make a loss of $1000 should shut down and make a loss of $100 should keep producing and make a profit of $0 O should keep producing and make a profit of $1000 Question 11 1 pts A firm finds that at its MR = MC output, its TC = $6000, VC = $1000 and total revenue is $2000. In the short run, this firm should: shut down and lose $0 shut down and lose $5000 shut down and lose $1000 keep producing and make a profit of $4000 keep producing and lose $4000One feature of a perfect competition is that the perfectly competitive firm: O sells a product that is different from other perfectly competitive sellers in the market is a price taker is the only producer of a product without any substitutes is a price maker Question 2 The demand curve for a perfectly competitive seller is perfectly elastic or horizontal. This means that: they can sell as much output as it chooses at the existing market price their total revenue does not change no matter how much they produce they are price makers and have the power to influence the market price they must lower price to sell more output