Output Total Revenue Total Cost The table gives data for a purely competitive, protmaximizing rm. Based on this information, in the short run how.r much is this rm earning in economic profit {or losing, as reected by negative numbers]? Multiple Choice 0 $30. $58. $50. 0 O m. 0 Purely competitive industry X has decreasing costs and its product is an inferior good. The industry is currently in long-run equilibrium. The economy now goes into a recession and average incomes decline. The result will be Multiple Choice O an increase in output and in the price of the product. O an increase in output, but not in the price of the product. O a decrease in the output, but not in the price of the product. O a decrease in output and in the price of the product.Answer the question on the basis of the provided demand and cost data for a pure monopolist. Demand Data Cost Data Quantity Price Demanded Output Total Cost $ 6.00 3 3 $ 5.00 5.60 4 4 6.00 5. 20 5 6.50 4.80 6 6 7.50 4.40 7 7 9.00 4.00 8 8 11.06 3.60 9 14.00 The profit-maximizing level of output will be Multiple Choice O 4 units. O 5 units. O 6 units. O 7 units.Answer the question on the basis of the following demand and cost data for a specific firm. Demand Data Cost Data (1) Price (2) Price (3) Quantity Output Total Cost $ 11.00 $ 10.00 6 6 $ 61 10.50 3 . 85 7 7 62 10.00 8.00 8 8 64 9.50 7.06 9 9 67 9.00 6.10 10 10 72 8.50 5.00 11 11 79 8.00 4.15 12 12 36 Suppose that entry into the industry changes this firm's demand schedule from columns (1) and (3) to columns (2) and (3). Economic profit will Multiple Choice O fall by $10.50. O fall to $11.50. O increase by $3. O decline to zero.Expected Rate _ \" The table shows the rate of return and R&D spending for a hypothetical rm. Assume the interestrate cost of funds falls from 10 percent to 6 percent. What will happen to the optimal amount of R&D spending? Multiple Choice 0 It increases from $24 billion to $36 billion. It increases from $24 billion to $42 billion. It decreases from $42 billion to $24- billion. 0 It decreases from $36 billion to $24 billion