8. Anna and Fabienne co-founded a company of energy drink for college students. Total Cost is given as TC(q)=2 ^2+1000. The market for energy drinks is competitive.

a. What is the firm's fixed cost? What is its variable cost? Give the equation for the average total cost.

b. Derive the company's supply function and draw the supply curve.

9. Consider the following data on France GDP:

Year Nominal GDP (billion US dollars) GDP Deflator (base year: 2010)

2014 $ 2 ,662 103 .5 %

1994 $ 1 ,885 79 %

What is the real GDP in 1994 measured in 2010 prices, and the real GDP in 2014 measured in 2010 prices?