Q 1.I’MABigCorp. produces and sells kitchen wares. Last year, it produced 7,000 can openers and sold each one for $6. To produce the 7,000 can openers, the company incurred variable costs of $28,000 and a total cost of $45,000. I'MABIGCorp.'s average fixed cost was 2.A positive technological change is an improvement in a production process that allows firms to produce the same output with fewer inputs. Suppose a chain of convenience stores reorganized its system of supplying its stores with food. This led to a sharp reduction in the number of trucks that the company had to use and increased the amount of fresh food on store shelves. Which of the following statements best describes the chain stores' actions? 3. Which of the following is an example of a long run adjustment? 4.The ABC Company manufactures routers that are used to provide high-speed Internet service. ABC sells an average of 1,000 routers each month, but to exhaust economies of scale in its industry ABC would have to sell 3,000 routers each month. Therefore, 5.In 1955, the chairman of the Sony corporation offered to sell transistor radios through department stores in the United States. Sony based its selling price on its average total cost of production. If a store bought 5,000 radios, Sony would sell them at $29.95 each. For 10,000 there would be a discount, and for more than 10,000 the price would begin to climb. Based on this information, 10,000 radios was located at the