. If the market price of corn is $1.75 per corn cob, in the short run how much corn should Cathy produce each day to maximize profits?      corn cobs per day c. What are Cathy's profits/losses per day if she produces the profit-maximizing quantity of corn in the short run (losses are expressed as a negative number)?      $  d. In the short run, assuming nothing else changes, Cathy shouldmultiple choice 1produce a lower quantity of corn per day.shut down, because the market price is above the AVC.produce a greater quantity of corn per day.produce the same quantity of corn per day.e. If the short-run price of corn falls to $1.25 per corn cob, Cathy shouldmultiple choice 2produce a lower quantity of corn per day.shut down, because the market price is below the AVC.produce a greater quantity of corn per day.produce the same quantity of corn per day.

. In the short run, assuming nothing else changes, Cathy shouldmultiple choice 1produce a lower quantity of corn per day.shut down, because the market price is above the AVC.produce a greater quantity of corn per day.produce the same quantity of corn per day.e. If the short-run price of corn falls to $1.25 per corn cob, Cathy shouldmultiple choice 2shut down, because the market price is below the AVC.produce a lower quantity of corn per day.produce the same quantity of corn per day.produce a greater quantity of corn per day.

The table below shows the daily costs, rounded to $0.25, of Cathy's Corn Stand. Cathy sells her corn cobs in a perfectly competitive market. Cathy's Corn Stand's Production CostsQuantity (corn cobs) AVC (dollars) ATC (dollars) MC (dollars)20.00 2.75 4.50 2.0030.00 2.25 3.50 1.5040.00 2.00 2.75 1.2550.00 1.75 2.50 1.2560.00 1.50 2.25 1.5070.00 1.50 2.25 1.7580.00 1.50 2.25 2.2590.00 1.75 2.50 2.75 a. Draw Cathy's marginal cost (MC) curve. Instructions: Use the tool provided "MC" to plot the curve point by point (8 points total). Points for average variable and average total cost are rounded to the nearest $0.25 in the graph. Instructions: In part b, enter your answer as a whole number. In part c, round your answer to two decimal places. If you are entering a negative number include a minus sign. b. If the market price of corn is $1.75 per corn cob, in the short run how much corn should Cathy produce each day to maximize profits?      corn cobs per day c. What are Cathy's profits/losses per day if she produces the profit-maximizing quantity of corn in the short run (losses are expressed as a negative number)?      $  d. In the short run, assuming nothing else changes, Cathy shouldmultiple choice 1produce a lower quantity of corn per day.shut down, because the market price is above the AVC.produce a greater quantity of corn per day.produce the same quantity of corn per day.e. If the short-run price of corn falls to $1.25 per corn cob, Cathy shouldmultiple choice 2shut down, because the market price is below the AVC.produce a lower quantity of corn per day.produce the same quantity of corn per day.produce a greater quantity of corn per day.

Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 - 50P, profit to the firm will beQuestion 3Select one:a.5.b.6.c.15.d.9.

Refer to Scenario 15.5. Suppose there are 100 firms each with a short run total cost of TC = q2 + q + 4, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 − 50P, how much will be produced in the market ( Call this Q)?  and what profit will each firm make?Group of answer choicesQ=300, Profit = $25Q=400, Profit = $15Q=500, Profit = $21Q=600, Profit = $50

Multiple Choice QuestionThe monopolist's level of output is not at the minimum point of Blank______, meaning it will not be productively efficient.Multiple choice question.average profitaverage total costmarginal revenueaverage variable cost