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Question 7 lithe average variable cost of producing 120 units is $8 and the total fixed cost is $650, then the total cost ($) at producing 120 units is? Enter number only. No letters or symbols. :1 Question 8 10 S n D 0 1 2 3 4 5 6 7 8 9 10 Quantity Consider graph above showing the supply and demand of widgets. Is the following statement true or false? If there was perfectly efficient rationing under a price ceiling of $2 per unit, the total surplus of the economy would be less than the case of $4 tax. O True O False