Thelma has a long term lease on her cotton farm with an annual lease payment of $10,000. Prior to planting in the spring of 2020, she predicts that she will have $5000 left after paying all of her costs except for the annual lease payment. In this case, what should Thelma do? Select one: O a. continue to operate even though she predicts an accounting loss of $5000 O b. exit the market and experience an accounting loss of $10,000 O c. continue to operate because total revenue exceeds total cost O d. shut down and experience an accounting loss of $5000Suppose that the average cost to one firm to supply an entire market is less than the average cost at which two or more firms could supply the same market, what is this industry called? Select one: O a. a resource industry O b. a natural monopoly O c. an exclusive industry O d. a government monopolyDoug's Donut Shop operates in a competitive market and is currently producing 200 donuts. He has average revenue of $1.50, his average total cost is $1, and his total fixed costs are $30. Does Doug have profits or losses? Select one: O a. profits of $100. O b. profits of $200. O c. losses of $300. O d. losses of $100.Thelma and Louise are competitors in a local beer market and each is trying to decide if it is worthwhile to advertise. If both of them advertise, each will earn a profit of $2000. If neither of them advertises, each will earn a profit of $5000. If one advertises and the other doesn't, then the one who advertises will earn a profit of $7500 and the other will earn a profit of $1000. To make the most money, what should Thelma do and how much profit will she earn? Select one: O a. she should advertise, and she will earn $7500 O b. she should advertise, and she will earn $2000 O c. she should do whatever Louise does, and will earn either $2000 or $5000 O d. she should not advertise, and she will earn $5000