19. The profit maximizing firm in the diagram
A. is incurring a loss per unit of $40
B. is incurring a loss per unit of $49
C. is incurring a loss per unit of $108
D. has a profit per unit of $5
20. The firm in the diagram
A. has fixed costs equal to $540
B. has fixed costs equal to $490
C. has fixed costs equal to $480
D. should close down immediately to minimize losses 16. The perfectly competitive firm in the
diagram should A. produce 12 units of output B. produce 10 units of output C. produce 5 units of
output D. close down 17. The maximum economic profit (or minimum economic loss) for the
firm in the diagram would be a A. loss of $480 B. loss of $490 C. loss of $540 D. loss of $60 18.
The firm in the diagram A. will not close immediately B. is earning a short-run economic profit
C. is operating in the long run D. will close immediately