QUESTION 1 but the perfectly (Figure: 23andme Curves) 23andme is a genetics and biotechnology company well-known for its in-home DNA kits and online genealogy and health reports. Several features of 23andme's services are protected by patents. The graph shows 23andme's marginal cost, firm demand, and marginal revenue curves for daily sales of its kits. The market price is $ competitive price is $ Price $350 $200 $50 25 25 0 a. 200; 50 b.350; 50 c. 50; 200 Od. 200; 350 Marginal cost Firm demand curve Marginal revenue 50 75 100 125 150 Quantity QUESTION 2 (Figure: Demand and Average Cost Curves) Which diagram represents the demand and average cost curves of a firm in the long run, given free entry and exit? Firm A Average Firm B cost Demand Firm C Average cost a. Firm A b. Firm B c. Firm C Od. Firm D Demand Firm D Demand Average cost Average cost Demand QUESTION 3 (Figure: The Profit-Maximizing Output and Price in the Diamond Market) Use Figure: The Profit-Maximizing Output and Price in the Diamond Market. Assume that there are no fixed costs and that AC = MC = $200. The profit-maximizing output for a monopolist is: Price, cost, marginal revenue of diamond $1,000 800 B 600 400 200 a. 0. b.S. - 16. d.20. 0 -200 C MC MR D -400 8 10 16 20 Quantity of diamonds QUESTION 4 (Figure: Demand, Revenue, and Cost Curves for Thneeds) Use Figure: Demand, Revenue, and Cost Curves for Thneeds. Thneeds and Things is a monopolist in the thneed ("things we need") market. If the government wants to regulate Thneeds so that an efficient outcome is reached, it would impose a price ceiling of: Price of thneeds $100 90 30 20 70 60 8 8 50 40 80 MR MC ATC 10 0 20 60 100 140 180 220 Quantity of thneeds a. $40. b. 546. c. $50. d. $65. QUESTION 5 (Figure: The Cost Curves for Charlie's Cookie Confections) Use Figure: The Cost Curves for Charlie's Cookie Confections. The curve labeled Y represents the firm's Cost per unit 0 a. marginal b. average c. fixed costs per unit d. variable costs per unit W X Y Quantity cost curve.