Solve the following questions. Give explanations for your working.

1.In a competitive market, the market-determined price is $25. A firm in this market is producing 10,000 units of output, and, at this output level, the firm's average total cost reaches its minimum value of $25. What should the firm do?

Group of answer choices:

Increase output because long-run marginal cost is above the average variable cost

Reduce output because average total cost is above the price

Reduce output because average total cost is above the average variable cost

Maintain current output because price is equal to long-run marginal cost

Maintain current output because price is equal to average variable cost

Increase output because the price is above average variable cost

The force of interest is: 6(1) =0.01/ + 0.04 OSISS Find the present value at time 0 of the payment stream 0.5/ + 2, which is received between time 0 and 5.The force of interest at any time / (measured in years) is given by: 0.04 0 0 ) of investments of 1 at times 0, 4 and 6? (ii) What is the present value at time 0 of a payment stream paid at a rate of p(!) =51 -1 received between / = 1 and / = 5?A scientist identifies 1,282 newborn wildebeest and observes them during their first year of life on the savannah. The scientist wishes to calculate the constant transition intensity over this period covering all types of death, including natural causes and ending up as a tasty snack for passing carnivores. If the true transition intensity is 0.18, what is the probability that the scientist observes a hazard rate in excess of 0.2