Question 2 Use the following to answer the question: Total Cost 1000 1 2200 2 3600 3 4500 4 5600 5 7200 6 8700 7 10500 8

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Question 2
Use the following to answer the question:
Total Cost
1000
1
2200
2
3600
3
4500
4
5600
5
7200
6
8700
7
10500
8
12800
9
15300
10
18000
If the firm produces six units, average costs equal
Question 3
Use the following to answer the question:
Total Cost
0
2000
1
4400
2
6400
3
8000
4
9200
5
10000
6
10400
7
11200
8
12400
9
14000
10
16000
If the firm increases output from 6 units to 7 units, the
marginal cost is​
Question 4
The demand function for your product is:
where P is price
Assuming that P = $38
Calculate the point price elasticity of demand.
Question 5
The demand function for your product is:
where P is price
Assuming that P=$55
Calculate the point price elasticity of demand.
Question 6
Use the following to answer the question:
Total Cost
0
1500
1
3500
2
5500
3
8100
4
10700
5
13000
6
15900
7
18300
8
20700
9
24000
10
26500
Assuming that variable costs are 0 when Q = 0, if the firm
produces one unit, average FIXED costs equals