Need help with questions #1 - #10 (except #2, as it has already been answered). If you need more information, please do not hesitate to let me know. All information needed in answering these questions can be found within the screenshots. Thanks!!

QUESTION 1 5 points Save Answer You are given with the following. The cost of 1 unit of chocolate is $1 and the cost of one fruit is $2 Q of chocolate TIL Q of Fruit TU 0 0 0 1 100 120 180 240 280 WT 220 270 290 Using the MU and MU/Dollar for both fruit and chocolate, what is the correct combination of chocolate and fruit? O a. 1 unit of chocolate and 3 units of fruit O b. 4 units of chocolate and 4 units of fruit O c. 3 units of chocolate and 1 unit of fruit O d. 1 unit of chocolate and 2 units of fruit QUESTION 2 5 points Saved Assume the carrot market operates in the perfectly competitive market. The price that producers charge in the market is $10 and they sell 40 units. Also, the total fixed cost to produce 40 units is $80. The average variable cost to produce each unit of carrot is $6. Given this information, please calculate the profit that the firms are making in this type or market O a. $320 O b. $400 O c. $80 O d. $160 QUESTION 3 2.5 points Save Answer When total utility is at its maximum point, what is the value of marginal utility? O a. Zero O b. Negative c. Positive O d. Infinite QUESTION 4 2.5 points Save Answer All of the following explains the inverse relationship between price and quantity demanded except O a. The Substitution Effect O b. The sales tax effect O c. The Diminishing Marginal Utility effect O d. The Income Effect QUESTION 5 2.5 points Save Answer Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and SubmitQuestion Completion Status: QUESTION 5 All the following are determinants of Elasticity of Demand EXCEPT - 2.5 points Save Answer O a. Whether the good is a luxury or necessity O b. The percentage of total budget spent of a particular good or service O c. The number of buyers in the market O d. Availability of substitutes QUESTION 6 2.5 points Save Answer The coefficient of price elasticity of demand for gasoline prices in Dallas, Texas is 0.32. What does this tell us about the price elasticity of demand? O a. Elastic O b. Unitary c. Perfectly Elastic O d. Inelastic QUESTION 7 2.5 points Save Answer The restaurant industry can be classified under the following market structure where products are differentiated but there are a large number of sellers and buyers O a. Oligopoly O b. Monopolistic Market O c. Perfect competition O d. Monopoly QUESTION 8 2.5 points Save Answer The main reason for diseconomies of scale is - O a. Managerial Problems O b. Low Interest Loans O c. Shortage of Land space O d. High Interest Loans QUESTION 9 2.5 points Save Answer If the total cost to produce 6 brownies is $4 and the fixed cost is $1. What the average variable cost for each brownie? O a. $3 O b. $0.33 O c. $0.667 O d. $0.5 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit