Questions options A) qd, qa, qb, qt, 0, QCB) P1, a, Qa, 0C) QC, QD, QT, 0, QA, QBD) lost, R, N, H, SLoss, R, N, C P2Loss, P2, C, N, S None of the above Loss, R, N, qc, 0E) I know the farm should shut down because it is incurring lossesyes, the firm stays in business in the short run, because it covers all it's fixed cost, and only a portion of its variable costs None of the above In the short round, the firm will stay in business, because it is covering all of its variable cost and portion of its fixed cost F) QB, qd, qt, none of the above, QA, QCG) none of the aboveR, you, QT, zero P3, T, QT, QA P3, T, qt, zero R, D, QD, zero H) 0,QD, D, LNone of the above R, U, QT, zero R, D, I, zero I) profits, R, D, QD, zeroProfits, p3, t, qt, zero None of the above Profits, P3, t, u, r J) none of the aboveMC curve above point dMC curve above point a MC curve Above point BK) price will be at P3Price will seat at Price, j, or point B min avc None of the above price will sit at point L or point D wear price = min ATCL) zero, QD, QT, QB, QA, QCOnly answers no explanation i only have 20 minutes

1. The diagram below depicts cost curves and demand curves facing a perfectly competitive firm. The following questions are based on the diagram. Price ($) MC m ATC P2 e MR3 AVC MR2 NO g MR a Quantity 0 92 9d a. If firm's demand curve is MR, what is the firm's output level? b. What is the amount of profit or loss? c. Suppose the demand curve is MR, what is output level? d. Identify the profit or loss incurred by indicating the area, e.g. rectangle OPIAq,. e. In the short run, should this firm continue to produce? Explain. f. If the firm's demand curve is MR,, what is the firm's output level? g. Identify the area that represents the total revenue. h. Identify the area that represents the total cost of producing this output level. i. Identify the area that represents the firm's profit/loss. j. Identify the firm's short-run supply curve. k. If the cost curves do not change, what is the long run equilibrium price? 1. If the cost curves do not change, what is the long run the equilibrium quantity