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10. Suppose a firm has incurred $100 in fixed costs and has the following short-run variable cost (VC) curve (where q refers to output): VC $ X G 91 92 Which of the following statements must be true? a) The firm's average variable cost (AVC) curve is minimized at qı units of output. b) The firm's average total cost (ATC) curve is minimized at q2 units of output. c) At the right price, the firm will maximize profit by producing qı units of output. d) The firm's average fixed cost (AFC) is the same amount regardless of output. e) None of the above are true statements. 11. Consider the Flaber Pencil Company, which uses one variable input (L) and one fixed input (K) to produce pencils. If Flaber is currently producing 10,000 units of pencils and is on its long-run output expansion path, which of the following must be true? a) Flaber is producing 10,000 units of pencils at the lowest possible total cost. b) Flaber's profit is zero. c) Flaber is not on its short-run output expansion path. d) Flaber will never change its current level of K. e) All of the above are true statements.