please solve the following questions, choose the right answer

19) Refer to the figure below . It refers to the cost curves for a firm in p market . When the market price is $ 4, this firm .. . . .... A. has positive profit B. breaks even C. should shut down in the short run D. should operate in the short run despite of negative profit 20) Refer to the table below . It is the cost information for a firm in a perfectly co market . Using marginal analysis , what is the profit maximizing output when price is $ 40 ? Output Total Cost 0 10$ N - 50$ 3 140$ A Zero B. One C. Two D. Three14) In a perfectly competitive market, marginal revenue A is less than market price B. is equal to market price C. greater than market price D. zero 15) The shutdown price is the minimum point on the A. average total cost curve B. average variable cost curve C. average xed cost curve D. marginal cost curve 16) The total cost (TC ) of producing 10 units of output is $ 500 and the average ( AVC ) is $ 35, what is the average fixed cost (AFC) at that level of outp A. $ 15 E. $ 35 C. $50 D. $65 11) Refer to the Figure below . It is the total product curve for Jackets . There is when four labor are used for producing 9 Jackets per day (point E) ? A. increasing returns to labor B constant returns to labor C. diminishing returns to labor D. zero return to labor 12 F G H 10 8 Total Jackets per day product N B 3 4 5 6 Units of labor per day 12) The slope of the total product curve A. the marginal product B. the marginal cost C. the average total cost D. the average variable cost curve . 13) The curve labeled Y represents the firm's Cost ( per period) Y Output (per period) A. average total cost B. average variable cost C.average fixed cost D. marginal cost Cost (per period) Output (per period)6 )A person would not eat all the food in an all- you -can -eat buffet . What is the reason ? A. There is constant marginal utility. B. There is increasing marginal utility . C. There is diminishing marginal utility. D. There is decreasing total utility . 7) You have $ 500 to spend on sandwich and book. Prioe for each sandwich is $20 . Prioe for each book is $100 . Which of the following is not an affordable oonsumption bundle ? A. 6 sandwiches and 2 books . B. 5 sandwiches and 4 books . C. 10 sandwiches and 4 books . D. 20 sandwiches and no book . 8) Which of the followings is false ? A. opportunity * cos t = explicit * cos t + implicit * cost B. economic prot revenue - opportunity cost 0. economic prot revenue explicit cost D. accounting prot = revenue - explicit" cost 9) You have $ 500 to spend on sandwich and book. Prioe for each sandwich is $20. Price for each book is $ 100. What happens if the price of each sandwich increases to $25? A. Your budget line does not change . Blow: consumption possibilities increase . C. The maximum number of books you can consume increases. D. The maximum number of sandwiches you can consume drops. 10) Which of the following is best described as a xed cost? A. Cost of raw materials . B. Wage to hire workers. C. Payment to an electric utility. D. Fixed rental payment for a factory. 1 ) If three workers can produce 14 chairs a day , four workers can produce 18 chairs a day and five workers can produce 20 chairs a day , the marginal product of the fifth worker is A. 2 chairs B. 3 chairs C. 4 chairs D. 18 chairs 2 ) Which of the following is the implicit cost for having a child? A. Expenses for baby's room . B. Food and clothing for the child . C. Salary lost by not working D Preschool expenses . 3) Refer to the table below. What is the optimal number of quantities to be consumed? Quantity consumed Marginal benefit Marginal cost 10$ 2$ B$ 3$ 5$ 5$ 3$ 8$ A. One B. Three C. Two D.Four 4) The total cost for producing one, two and three outputs is $200, $400, and $700 respectively. What is the marginal cost for the third output? A. $200 B. $300 C.$400 D. $700 5 ) A firm maximizes his profit when A. the marginal revenue is greater than the marginal cost. B. the marginal revenue is equal to the marginal cost . C.the marginal revenue is less than the marginal cost. D. the marginal profit is positive