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please help with these questions. This is ALL the information I have. QUESTIONS 1, 2, AND 3 are not related to the first problem about

please help with these questions. This is ALL the information I have. QUESTIONS 1, 2, AND 3 are not related to the first problem about the orange juice

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Suppose that the demand side of the market for orange juice is composed of three individuals, A, B, and 0. Let P be the price of one liter of orange juice and Qd be the quantity demanded of orange juice in liters. 0 Individual A buys only one liter of orange juice if the price falls below her reservation (or choke) price of 10 dollars. 0 Individual B's demand for orange juice is dened by 62'}; = 5 P/ 2. 0 Individual C buys 2 liters if the price is below 5 dollars, 1 liter if the price is between 5 and 10 dollars and nothing if the price is above 10 dollars. Sketch the market demand by aggregating the three individual demands. Label you graph clearly. Suggestion: Sketch individual demands rst and then sketch the market demand. QT 1 Point The law of supply states that O A. quantity supplied increases as price increases, other things constant. O B. supply increases as price increases, other things constant. O C. quantity supplied increases as price decreases, other things constant. O D. a good can be sold at any price. O E. None of the above. Save Answer Q2 1 Point Suppose that supply is defined by Qs = -2 + , for P > 4. If P = 8, then the variable cost is equal to O A. $12. O B. $8. O C. $6. O D. $4. O E. None of the above.Q3 1 Point Suppose that supply is defined by P = 5Qs. If P = 10, then the producer surplus is equal to O A. $2. O B. $4. O C. $6. O D. $8. O E. None of the above

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