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mics-3 - College of the North Atlantic - Qatar presentation - saifistheboss@gmail.com - Left:0:50:01 Part II - Short Answers - 5 % of Final Grade Saif Al-Naemi: Attempt 1 Noura's Books is the only bookstore in the city. The figure below shows the demand curve for books, the marginal revenue curve and marginal cost curve. 8 8 MC thousands of books per your! Paragraph . . . 1. What quantity of books will maximize the profit of Noura's Books and what price will Noura's Books charge for each book? (1 mark) 2. What is Noura's Books annual total revenue? (1 mark) 3. At the price charged to purchase a book, is the demand for books elastic, inelastic or unit elastic? Explain why. (1 mark) 4. Calculate Noura's Books deadweight loss. (1 mark) 5. Explain why Noura's Books operates inefficiently. (1 mark)