1.Carolyn knows average total cost and average variable cost for a given level of output.Which of the following costs can she not determine given this information?

(A) total cost

(B) average fixed cost

(C) fixed cost

(D) variable cost

(E)Carolyn can determine all of the above costs given the information provided.

2.The marginal cost of a monopolist is constant and is $8.The demand curve is given by Q = 80 - P.Thedeadweightloss from monopoly power is ________.

(A) $600.00

(B) $624.00

(C) $648.00

(D) $692.00

(E)none of the above

3.A Cournot oligopoly has 19 firms, and the (inverse) market demand curve is given by P = 80 - Q.All firms have marginal cost, MC = $40.The equilibrium price in this market will be

(A)$40.50

(B)$42

(C)$53.33

(D)$60.15

(E)There is not enough information to answer definitely