Question 5 (3.1 points) Listen Marginal Costs to determine if a firm produces or shuts down: Is compared with average total cost O Is compared with Marginal Revenue C Is compared with Price Is not usedQuestion 6 (3.1 points) (1 Listen The property of cross-price elasticity between products A and B tells us the following: C If the cross-price elasticity between A and B is negative the products are complementary in consumption O If the cross-price elasticity between A and B is positive the products are complementary in consumption If the cross-price elasticity between A and B is negative the products are substitutes in consumption O None of the above are correctQuestion 7 (3.1 points) () Listen If the consumers think that there are very few substitutes for a good, then Supply would tend to be price-elastic Supply would tend to be price-inelastic O Demand would tend to be price-elastic O Demand would tend to be price-inelasticQuestion 8 (3.1 points) () Listen Which is NOT an attribute of a pure monopoly: C Entry and Exit to the market is blocked by cost structure and/or law Firm produces a differentiated product Firm has significant price control There is only one firm producing in the market for a geographic region