Question 5 If you know that: Fixed cost = AED 3000 Variable cost= AED 500 Quantity= 100 units price= AED 10 What is the

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answerhappygod
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Question 5 If you know that: Fixed cost = AED 3000 Variable cost= AED 500 Quantity= 100 units price= AED 10 What is the

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Question 5
If you know that:
Fixed cost = AED 3000 Variable cost= AED 500 Quantity= 100 units price= AED 10
What is the amount of:
1- Total costs? (2 marks)
2- Average total costs? (2 marks)
3- Total revenue? (2 marks)
Total = 6 marks
What are possible three market conditions in which the invisible hand is not working and there is a dead weight loss (lost economic surplus) in the market? (3x2 = 6 marks)
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