n the perfectly competitive market for iPhone cases, a total quantity of 2000 iPhone cases are sold for $35. The graph for the market and firm are shown below.

Flag question: Question 13Question 131pts

8a. What is the Total Revenue for the market?

Group of answer choices

$35,000

$280

$200

$70,000

Flag question: Question 14Question 141pts

8b. What is the Total Revenue for the firm?

Group of answer choices

$35,000

$280

$200

$70,000

Flag question: Question 15Question 151pts

8c. What is the Total Cost for the firm?

Group of answer choices

$35,000

$280

$200

$70,000

Flag question: Question 16Question 161pts

8d. What is the Profit for the firm?

Group of answer choices

$280

$80

$120

$160

Flag question: Question 17Question 171pts

8e. What will happen in the market for iPhone cases in the long run?

Group of answer choices

New firms will enter the market.

Firms will exit the market (shut down)

Price will increase

There will be no change.

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5. In the perfectly competitive market for iPhone cases, a total quantity of 2000 iPhone cases are sold for $35. The graph for the market and rm are shown below. Market Firm P P MC ATC AVC $30 $25 $20 315 810 D 85 2000 0 012345675 Q a. What is the Total Revenue for the market? b. What is the Total Revenue for the rm? 0. What is the Total Cost for the rm? d. What is the Prot for the rm? e. What will happen in the market for iPhone cases in the long run