Economics

1. As the price for the particular product changes, the quantity of the product demanded changes
according to the following schedule:
Total Demanded Price per unit
100 150
150 145
200 140
225 135
230 130
232 125
Using Arc Method, the price elasticity of demand for this product when the price decreases
from 140 to 135 is
a. 0.8824
b. 0.20
c. 5.00
d. 10.00

Total units of product Ave. fixed cost Ave. variable cost Ave. total cost
6` 30.00 50.00 80.00
7 25.72 48.00 73.72
8 22.50 47.00 69.50
9 20.00 47.50 67.50
2. The marginal cost of producing the ninth unit is
a. 51.50
b. 39.96
c. 91.46
d. 76.00
3.