Need all mcq ans with explanation

In our Hotelling's model of location or product variety, suppose that the reservation price V is $8, transport cost t is $2 and the number of consumers Nis 10,000. Fixed cost F is $500. The socially optimal number of stores or varieties is and the profit- maximizing number of stores or varieties is A reason why the firm will limit its number of stores is due to its average fixed cost (AFC). With the socially optimal number of stores, its AFC is equal to With the profit-maximizing number of stores, its AFC is equal to a. 3; 5; $0.15; $0.25 b. 4; 5; $0.2; $0.25 C. 4; 5; $0.25; $0.35 d. None of the answers above is correct. In our Hotelling model of product differentiation, which of the following is CORRECT? a. The higher the reservation price V, the higher the equilibrium number of stores and profits of the firm. b. If the firm has MC = 0, it will produce an infinite number of stores because total production cost is equal to zero. Consumers who are located close to the stores enjoy positive consumer surplus while those who are farthest away from have zero consumer surplus d. All of the answers above are correct. According to the article "What to Do When There Are Too Many Product Choices on the Store Shelves?", which of the following is CORRECT? a. Firms are pushed to produce more product varieties because this is a way to increase total sales and keep up with the competition. b. Choices do matter to consumers and studies have found that around 50% of consumers seek out new product varieties. C. Studies have found that when consumers are bombarded with multiple choices for a given product, they are likely to pick a variety that is easiest to evaluate rather than one that has the most important features to them. d. All of the answers above are correct. In our Hotelling's model of location or product variety, suppose that the reservation price V is $8, transport cost t is $2 and the number of consumers Nis 10,000. Fixed cost F is $500. The socially optimal number of stores or varieties is and the profit- maximizing number of stores or varieties is A reason why the firm will limit its number of stores is due to its average fixed cost (AFC). With the socially optimal number of stores, its AFC is equal to With the profit-maximizing number of stores, its AFC is equal to a. 3; 5; $0.15; $0.25 b. 4; 5; $0.2; $0.25 C. 4; 5; $0.25; $0.35 d. None of the answers above is correct. In our Hotelling model of product differentiation, which of the following is CORRECT? a. The higher the reservation price V, the higher the equilibrium number of stores and profits of the firm. b. If the firm has MC = 0, it will produce an infinite number of stores because total production cost is equal to zero. Consumers who are located close to the stores enjoy positive consumer surplus while those who are farthest away from have zero consumer surplus d. All of the answers above are correct. According to the article "What to Do When There Are Too Many Product Choices on the Store Shelves?", which of the following is CORRECT? a. Firms are pushed to produce more product varieties because this is a way to increase total sales and keep up with the competition. b. Choices do matter to consumers and studies have found that around 50% of consumers seek out new product varieties. C. Studies have found that when consumers are bombarded with multiple choices for a given product, they are likely to pick a variety that is easiest to evaluate rather than one that has the most important features to them. d. All of the answers above are correct