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Question 45 0.4 pts Refer to the accompanying figure to answer the following questions. Price and Cost MC ATC Quantity If the price is $3, the firm is making a profit and will exit the market. O zero profits and the market is at long-run equilibrium. O a proft and more firms will enter the market. O a loss and will exit the market. a loss and more firms will enter the market. Question 46 0.4 pts If Dorothys Doughnuts is a perfectly competitive firm and is currently incurring economic losses of $500 o the market supply curve will shift to the right. firms will exit the market Ofirms will enter the market. O individuals will demand fewer doughnuts. O individuals will demand more doughnuts.

Question 47 0.4 pts Refer to the accompanying figure to answer the following questions. Price and Cost MC ATC $8 $5 Quantity This firm would shut down in the long run if the price O fell below $3. O fell below $8. O rose above $8 O fell below $5 rose above $5 Question 48 0.4 pts False advertising is generally regulated by O the Securities and Exchange Commission (SEC). O the Federal Trade Commission (FTC). O state and local governments. O the Nuclear Regulatory Commission (NRC). O the Antitrust Division of the Department of Justice.

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Ans45) the correct option is a loss and will exit the market.

Because ATC is higher than price.

Ans46) the correct option is firms will exit the market.

Ans47)  the correct option is fell below $5

Shut point is when Any price falls below MC = ATC

Ans48) the correct option is the federal trade commission ( FTC)

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