Hi I have a couple questions. Thank you!!

Suppose there is a perfectly competitive market where all firms have the following cost structure: Output 0 1 2 3 4 5 6 7 Total cost $0 $10 $13 $16 $20 $25 $32 $42 Which of the following is a point on the long-run supply curve for this market? O P = $4; Q = 400 O P = $5; Q = 500 O P = $7; Q = 700 O P = $6; Q = 600For a particular competitive rm, the minimum value of average variable cost (AVC) is $12 and is reaching when 200 units of output are produced. For the same rm, the minimum value of average total cost (ATC) is $15 and is reached when 230 units of output are produced. Which of the following statements is correct? 0 If the rm's xed cost (FC) amounts of $500, then the rm cannot earn a positive prot unless the price of its product exceed $16. 0 In the short run, the rm will shut down if the price of its product is $14 0 For this rm, the minimum value of variable cost (VC) is $2,400 0 In the long run, the rm will shut down if the price of its product is $11