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amount of time to take the quiz. Que, so you won't D X Question 30 2 pts A monopolist faces the following demand curve: Quantity Price $20 2 $16 $12 $8 $4 Suppose the monopolist has an average fixed costs of $5 and a per-unit variable cost equal to $4. What is the total profit if the firm operates at the profit-maximizing price? 0 9 12 O 15 None of the aboveQuestion 25 2 pts When a monopolistically competitive firm is in a long-run equilibrium, the values of marginal revenue, average total cost, and price are all the same. O True O False Next . Previous64 48 MC 24 16 Demand MR 16 24 32 40 48 56 64 Q The picture above is of a monopolistically competitive firm. If the average variable cost is $30 at the profit maximizing quantity, and if the firm's profit is $60 at that quantity, then it's average fixed costs amount to O $3.5 O $4.5 O $5 O $5.5 O None of the above NextA monopolistically competitive firm faces the following demand curve for its product: Price ($) 20 18 16 14 12 10 8 6 4 2 Quantity 10 20 30 40 50 60 70 80 90 100 The firm has total fixed costs of $140 and a constant marginal cost of $12 per unit. We can conclude that: O firms will exit this market O firms will enter this market O the marker is in long run equilibrium this firm is operation at its efficient scaleQuestion 26 2 pts Which of the following is true under monopolistic competition in the short run? O P = MC. O P=MR O P > ATC O None of these is true Next PreviousQuestion 29 Reading Liu 1 pts 105 100 95 90 ATC 80 73 70 65 60 55 50 45 40- 35 * 30- 25 20 15 10 MR Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100105110115120 2 Picture above shows a Monopolistic Competition firm in the short-run. What are the profits for the firm? $100 $200 $400 None of the above