Question 26 (4 points) Average Total Total Product Average Fixed Cost | Average Variable Cost Cost Marginal Cost $150.00 $17.00 $167.00 $17 75.00 16.00 91.00 50.00 15.00 65.00 37.50 14.25 51.75 30.00 14.00 44.00 25,00 4.00 $9.00 21.40 15.71 37.11 18.75 7.50 36.25 30 16.66 9.44 36.10 35 15.00 21.60 36.60 41 13.60 24.00 37.60 47.5 12.50 26.67 39.17 56.5 If the firm is in a competitive market and is able to charge $45, what level of output will it choose to produce, and how much profit/loss will it earn? Oa 10 units and $84 of profit. Ob 5 units and $15.00 of profit J C 11 unit and $81.40 of profit. O d This firm should shut down and lose $150. Question 27 (4 points) Average Total Total Product Average Fixed Cost | Average Variable Cost Cost Marginal Cost 150.00 17.00 $167.0 $17 75.00 6.00 1.00 50.00 5.00 65.00 37.50 14.25 51.7 30.00 14.00 14.00 25.00 14.00 39.00 21.40 15.71 37.11 18.75 17.50 36.25 30 16.66 19.44 36.10 35 15.00 21.60 36.60 13.60 24.00 37.60 47.5 12.50 26.67 39.17 56.5 The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $12, the competitive firm should produce Oa 4 units at a loss of $159. b 4 units at an economic profit of $51.75. Time left for this O c assessment: 8 units at a loss of $18.00 75:41 d zero units at a loss of $150