I need help with these questions, I'm very thankful for anyone can help me!

Cost and Industry Structure

1. What is profit?

2. What is the difference between accounting profit and economic profit?

3. Can a firm have a positive accounting profit, but still be unsuccessful?

4. What two parts can total cost be broken down into?

5. What are fixed costs?

6. What are variable costs?

7. What do variable costs often show the pattern of?

8. What is average cost?

9. What is average variable cost?

10. What is marginal cost?

11. Where does marginal cost ALWAYS intersect average variable cost and average cost?

12. What economic concept can fixed costs be thought of as?

13. What does average cost tell us?

14. What does average variable cost tell us?

15. What does marginal cost tell us?

16. Are there fixed costs in the long run?

17. What are production technologies?

18. Which production technology is best for any given firm?

19. What is economies of scale?

20. What is constant returns to scale?

21. What is diseconomies of scale?

22. What two things about an industry does the long run average cost curve tell us?