You are the manager of a firm that sells its product in a competitive market at a price of'iOO. Your rm's cost function is C = 40 + 502. The protmaximizing output for your rm is Multiple Choice 0 .0. O Q .2. O 20. You are the manager of a monopoly that faces a demand curve described by P =10 - 20. Your costs are C = 20 + 29. The revenue maximizing output is Multiple Choice 0 .5. Annie owns a florist and operates in a perfectly competitive market. Suppose that price per unit is $12. If at the point where MC and MR curves intersect, ATC = $18 and AVC = $15, then Annie will Multiple Choice O stay open in short run. O shut down in the short run. O earn zero profits in the short run. O earn positive profits in the short run.* nnie owns a florist and operates: in a perfectly competitive market. Suppose that price per unit is 15. If at the point where MC and MR curves intersect, ATC = $18 and AVC = $15, then Annie will Multiple Choice 0 have losses equal to fixed costs. exit in the short run. earn positive prots in the short run. 000 earn zero prots in the short run. The graph shows a monopolist firms cost and revenue curves. What is the profit-maximizing price? $120 MC 1 10 100 90 80 70 60 50 40 30 20 10 MR D 0 Quantity 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15O $20 O $40 O $60 O $70