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1. Given a market structure of perfect competition, and P = 2000 Q and Marginal Costs equal to 0, the firm would produce how many units of output? a. None of these is correct b.1000 c.2000 d.0 2.A monopoly supplier has a P = 110 - 40 (Four Q). His marginal cost is $10.00 What should be his profit maximizing price? a.50 b.25 c.None of the above d.60 3A monopolist has a price of P = 110 - 40 (Four 0) His marginal cost is $10.00, what should be his profit maximizing output? a.l4 b.12.5 c.10 d. None of these is correct 5.For a firm in long run monopolistic competition, the Price is given by P = 4.75 - 0.20 (zero point two 0). Average total cost is given by 5 0.30 + 0.010 ( Five minus zero point three 0 plus zero point zero one 0 squared. The profit maximizing quantity is ...? a.None of these is correct b. 3.75 c. 10 d.5 6. For a firm in long run monopolistic competition, with a Price of P = 4.75 - 0.20 (zero point two 0) and Average Total Costs of 5 - 0.30 + 0.00102 ( five minus 0.3 squared plus zero point zero zero one 0 squared), the long run profit is zero. Select one: True False