Question 25 {1 point] You run a business with annual revenue of $5,000 and expenses of $1,000. You have a job offer from one of your competitors to work for an annual salary of $2500. The equipment for the business could be sold and the funds invested to generate $100 in annual interest earnings if the proceeds were invested. What is your economic profit from running the business? ('3. $1,?00 Question 26 {1 point] If the demand curve for a certain good is perfectly inelastic, what will be the effect on an increase in price on the quantity demanded? (:3: Cannot be determined from the information given (:3: Leave the quantity demanded unchanged (:3: Decrease the quantity demanded (:3. Increase the quantity demanded Question 2? {1 point] Suppose a firm has many different possible short-run average total cost curves, representing different amounts of fixed inputs. The long-run average cost curve _________________ each of the short run average cost curves. (\"I is greater than k_./' [3. is less than or equal to .r'\\ - k-) IS the sum of [3. can be less than or greater than Question 28 {1 point] Which of the following is an implicit cost? [3| You quit yourjob to go to college, losing your hourly wage of $10 I"). You pay $350 for textbooks K- (:3. You pay $4,000 for tuition I:_:l You have to pay $20 in library late fees