Please answer following questions. These are multiple choice. Thank you for your time and have a lovely day!

1. Which of the following characteristics are unique to the monopoly market structure? A) Market power B) Persistent economic profits C) Marginal revenue beneath demand D) Economies of scale E) An insurmountable barrier to entry 2. Koel is the single producer of home air conditioners in its rural market. The firm's monthly demand is described by the equation P - 5000 - 50, where P is the price and Q is the quantity of units sold. Which of the following must be true of Koel? A) An increase in price decreases the quantity sold.B) It is a natural monopoly. C)A decrease in price decreases the quantity sold. D) Higher levels of output bring in increasingly lower total revenue if demand is elastic. E)Maintaining the current price decreases the quantity sold over time. 3. Which of the following accurately describes a monopolistically competitive market? A) Barriers to entry or exit secure firms' long-term economic profits.B) An individual firm's demand curve is perfectly elastic.C) Firms will earn normal profit in long-run equilibrium. D)Production is inefficient in the short run and efficient in the long run. E) Firms will produce more and charge less than firms in perfect competition. 4. A firm is the only supplier of sprockets. The allocationly efficient output of sprockets is 40 million units. Consumers would pay $6 per sprocket at that price level. The firm is producing 30 million sprockets. Which of the following statements must be true? A) The firm is producing too much output. B) The firm is charging more than the competitive price. C) The firm is operating in a monopolistically competitive market, D) The firm's marginal revenue is higher than its market demand. E] The firm's average total cost is equal to the price at its current output level 5.Saturn Unlimited sells vials of asteroid dust. At its current production level, it's marginal revenue is lower than the demand curve. This means that A) the firm is experiencing economic losses B) the firm has market power ( the firm is not producing atits profit-maximizing quantity D) an increase in the firm's output will increase its profits Er the firm is productively efficient