3.when a restaurant stays open for even though there are few customers supporting the restaurant ,which principles are demonstrated

a.fixed and sunk cost in the short run

b.short run,fixed costs are important decisions to stay open for lunch

c. if revenue exceeds variable cost the restaurant owner is making profitable

4, Equilibrium price for a tin is R5 but the price set is R6,will the price of R6 per tin be maintained.

5.which good will have a low Price elasticity of demand

a,\.beer

b.castle lite

c.light beer

d.alcoholic drink