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AVC 1D 30 50 70 90 Referring to the diagram. this Perfectly Competitive firm would incur losses if the price fell below: 912 ('7: $10 Referring to the previous diagram. if the market price was $10. and thisfirm was producing 70 units. what would you recommend to this firm? 0 Decrease production (J Increase production () I have no idea. (i) Leave production the same because this is where profits are at their greatest. qn...-.. - H ww-w _.'..' Referring to the previous diagram, ata price of $12, the maximum profit the firm can make is: (1)3340 (35260 O 5250 5140 Question 4 (1 point) E 1!! list-II : Referring to the previous diagram, if the price of the product is $12, in order to maximize profitsY the firm should produce? (3 90 units of output [j 100 units of output C] 60 units of output () 70 units of output Question 5 [1 point) Referring to the previous diagram, at the profit maximizing output level consistent with a price of $12, the firm's total revenue is: 0 31200 if; 3720 (j: 5840 L) $1030 Question a (1 point) ml: Referring to the previous diagram, at what price would this firm choose to close down rather than produce? 0 s10