1.Suppose a firm is currently producing 50 units. Its total fixed costs are $500 and its total variable costs are $200. At an output level of 50 units, calculate the average fixed costs.

A. $4

B. $10

C. $11

D. $14

E. $700

2.Suppose a firm is currently producing 50 units. Its total fixed costs are $500 and its total variable costs are $200. At an output level of 50 units, calculate the average total costs.

A. $4

B. $10

C. $11

D. $14

E. $700

Assume six firms comprising an industry have market shares of 30, 20, 20, 10, 10, and 10 percent. The Herfindahl Index for this industry:

A. is 2,525.

B. is 2,200.

C.is 2,000.

D.1,800.

E. 80.