rage Question 3 (2 points) The table of cost information below represents costs facing a firm operating in a perfectly competitive market. 16 Q FC VC TC 0 30 5 10 10 55 15 90 20 10 11 12 150 What is the marginal cost of the 20th unit produced? 13 14 15 O $18 O $7.5 0 $6 O $12 Question 4 (2 pointsQuestion 4 (2 points) The table of cost information below represents costs facing a firm operating in a Page 1: 2 3 perfectly competitive market. TC Q FC VC 30 0 0 5 10 10 55 15 90 20 150 10 11 12 If the market equilibrium price is $10, what is the perfectly competitive firm's marginal revenue? 13 14 15 O $7 O $10 O $3 Question 5 12Jiaqing Wang: Attempt 1 me Left153:58 Page 1: Question 5 (2 points) 3 The table of cost information below represents costs facing a firm operating in a perfectly competitive market. 0 FC VC TC 0 30 5 10 10 55 15 90 10 11 12 20 150 If the market price is $10, how much output will the firm produce to maximize its profit? 13 14 15 O 10 O 15 O 20 QuanTOIT (2 TOUTS) Jiaqing Wang: Attempt 1 Time Limit: 2:00:00 Time Left:1:55:52 Question 6 (2 points) Page 1: The table of cost information below represents costs facing a firm operating in a 2 3 perfectly competitive market FC VC TC 5 0 30 5 10 10 55 15 90 20 150 10 11 At what quantity level does the firm reach productive efficiency? 13 14 0 5 15 O 20 O 15 0 10 Question 7 (2 noVulliHICE ZUZU Exam 2 PM_Shorter Version (2 Hours) Jiaging Wang: Attempt 1 Time Left:1:55:46 Time Limit: 2:00:00 Page 1: Question 7 (2 points) The table of cost information below represents costs facing a firm operating in a 1 3 perfectly competitive market. VC TC Q FC 6 0 30 5 10 0O 10 55 15 90 20 150 10 11 12 In the long run, this firm will be making _ profit. 13 14 15 An unknown amount of Zero Negative Positive QuestionPage 1: Question 8 (2 points) The market share table below describes the market for widgets in a fictional economy. 3 V Company Sales (in millions) Mike's Widgets and Stuff 250 4 un O Widget Pros 120 All About Widgets 300 Widgets R Us 75 Down with Widgets 155 What is the three-firm Widget Emporium 100 concentration ratio industry? (CR) for this 10 11 12 70.5 14 15 100 O 67,5 0 67.0