Question 7 (10 points) In the model of monopolistic competition, if the price is ________ average costs, than firms are earning __________ economic profit and we should expect firms to _________ the industry. I1: I less than; positive; enter I: I less than; negative; exit I: I more than; negative; exit I: __::I equal to; zero; exit Question 8 (10 points) In the model of monopolistic competition, if an industry has large ________ relative to another industry, then we should expect _________ firms to operate in the long-run equilibrium of that industry. I: I marginal costs; more I: fixed costs; less I1: '_::I fixed costs; more I: __::I marginal costs; less Question 9 (10 points) In the model of monopolistic competition, if firms have average cost curves that __________ with the quantity sold, then opening to trade will __________ the total number of firms and __________ the average price. I1: '_::I slope down; decrease; increase I: slope down; decrease; decrease I1: I slope up; decrease; increase I: I slope down; increase; decrease