Question 1, Text Exercise 2.2 HW Score: 0%, 0 of 11 points Part 1 of 3 QO Points: 0 of 1 Should a firm shut down if its revenue is R =$800 per week, its variable cost is VC = $700, and its sunk fixed cost is F = $2,400? This firm should () A. shut down because total cost is greater than revenue. () B. not shut down because variable cost is less than revenue. (O C. shut down because fixed cost is greater than revenue. (O D. not shut down because revenue is positive. (O E. not shut down because total cost is greater than variable cost. Question 2, Text Exercise 2.6 X HW Score: 0%, 0 of 11 points Part 1 of 5 (O Points: 0 of 1 A firm's profit function is 2 n(q) = R(q) - C(q) =60q - (90 + 20q + 10q"). What is the positive output level that maximizes the firm's profit (or minimizes its loss)? What is the firm's revenue, variable cost, and profit? Should it operate or shut down in the short run? The output level at which the firm's profit is maximized is q=| |. (Enter your response as a whole number.) Question 3, Text Exercise 3.2 N HW Score: 0%, 0 of 11 points Part 1 of 2 (O Points: 0 of 1 The cost function for Acme Laundry is C(q)=10+40q+, where q is tons of laundry cleaned. What g should the firm choose so as to maximize its profit if the market price is p? The output level at which the firm's profit is maximized as a function of p is q=| |. (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shorttclits. E.g., a fraction can be created with the / character.) Question 3, Text Exercise 3.2 HW Score: 8.48%, 0.93 of 11 points O Save Part 2 of 2 O Points: 0 of 1 The cost function for Acme Laundry is C(q) = 10+40q + q, where q is tons of laundry cleaned. What q should the firm choose so as to maximize its profit if the market price is p? The output level at which the firm's profit is maximized as a function of p is q = - 20 . (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a fraction can be created with the / character.) If p =60, then Acme Laundry should produce units. (Enter your response as a whole number.)Question 1, Text Exercise 2.2 HW Score: 13.03%, 1.43 of 11 points EN X ) & Points: 0.33 of 1 Should a firm shut down if its revenue is R = $800 per week, its variable cost is VC = $700, and its sunk fixed cost is F = $2,400? This firm should shut down because total cost is greater than revenue. not shut down because variable cost is less than revenue. shut down because fixed cost is greater than revenue. not shut down because revenue is positive. not shut down because total cost is greater than variable cost. Should a firm shut down if its revenue is R =$800 per week, its variable cost is VC =$1,200, and its sunk fixed cost is F =$2,400? This firm should () A. not shut down because total cost is greater than variable cost. () B. shut down because total cost is greater than revenue. () . shut down because varible cost is greater than revenue. (O D. shut down because fixed cost is greater than revenue. () E. not shut down because revenue is positive