Question 23 1 pts This question tests your understanding of the short run and the long run. 23. Fixed cost is xed in O the short run but not the long run Q both the short run and the long run 0 the long run but not the short run Question 25 1 pts 25. The short-run supply curve of a competitive firm is the O average variable cost curve above the marginal cost curve O marginal cost curve above the average variable cost curveQuestion 29 1 pts 29. This question tests your understanding of the economics of monopoly (price searchers, other firms cannot enter the market in the long run) and price discrimination. Here are two statements concerning a profit-maximizing price searcher. = A price searcher would always maximize profit by maximizing revenue. A price searcher would always maximize profit (or minimize loss) at a level of output where the absolute value of the price elasticity of demand is greater than one. Which statement(s) is (are) TRUE? Choose one or both.Question 30 1 pts 30. This question tests your understanding of the economics of monopoly {price searchers, other rms cannot enter the market in the long run} and price discrimination. Here are two statements about price takers and price searchers. i A competih've rm {price taker} can never successfully price discriminate. ll A monopolist {price searcher] can always successfully,r price discriminate. |Choose the correct opon from the list below. O Both statements are true. C) Only II is true. O Neither statement is true. 0 Only | is true. Question 31 1 pts 31. This question tests your understanding of the economics of monopoly {price searchers, other firms cannot enter the market in the long run]I and price discrimination. Which statementisi below is [are] TRUE? Choose one or more. C] Price discrimination occurs where a seller charges different prices in different markets that are entirely explained by the difference in his costs of supply. C] Successful price discrimination can neyer reduce the deadweight loss associated with single-price monopoly. C] Successful price discrimination can neyer increase output beyond that of a single-price monopoly. C] Price discrimination occurs where a seller charges the same price in different markets where his costs of supply differ between the markets