Suppose a perfectly competitive market is in equilibrium and demand for the product increases in the short-run firms will have positive profit. O in the long-run firms will have negative profit. O in the long- run firms will have positive profit. O in the short- run firms will have negative profit. D 10JR2 15 Suppose a perfectly competitive market is in equilibrium and demand for the product decreases O in the long-run some firms will enter and profit will eventually be zero. in the long-run some firms will enter and profit will eventually be positive. in the long-run some firms will exit and profit will eventually be positive. in the long-run some firms will exit and profit will eventually be zero. D 10] Ra 16 1 5) A company charges $20 for a product and sells 5 units. Its average fixed costs are $8 and its average variable costs are $7. What is this company's total profit? O -$75 O $25 O $65 $60 D [0] Ra 17 1 5) A company has total costs of $30 and sells a product for $5 and sells 5 units of the product. This company's profit is O $25 $125 $0 O -$5 D R2 18 A company has total fixed costs of $100, total variable costs of $200 and when it charges $2 and sells 400 units. Its profit is $500 and its average total costs are $0.75 $500 and its average total costs are $1.33 $600 and its average total costs are $1.33 $600 and its average total costs are $0.75