A firms average total cost is 80 its average variable

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4) A firm’s average total cost is $80, its average variable cost is $75, and its output is 50 units. Its total fixed cost is A) $100. B) $250. C) $300 D) can’t determine. 5) For a single price monopolist, all of the following are FALSE except: 6) If total fixed costs increase, then the average total cost curve ____ and the marginal cost curve ____. 1
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7) In the short run, a monopoly's profits 8) A competitive industry is in long-run equilibrium. Some firms adopt new technology that reduces the average total cost of producing the good. In the long run, the price is ____, firms with the new technology make ____ economic profits, and firms with the old technology ____. A) lower; positive; switch to the new technology or exit the industry B) constant; positive; make normal profit C) lower; zero; switch to the new technology or exit the industry D) constant; zero; make economic losses 9) Price discrimination by a monopoly
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