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Q5. Please give me the full answers to all the questions, 6a and 6b. Thank you! A firm is selling 5 units of its product

Q5. Please give me the full answers to all the questions, 6a and 6b. Thank you!

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A firm is selling 5 units of its product and has the following cost and revenue figures: Output/sales 2 4 5 Total revenue 0 200 350 450 500 500 Total costs 50 100 140 200 250 310 6a) For each output level, determine the following: the firm's average revenue, price, and the firm's profit level. A - BI U ABC X2 x 2 E 123 O C evigilation.monash.eduETE#$38H. Perst6. of 7 6b) Is the firm operating below or above its profit maximising output? A BI U X2 x2 E E E ABC 123 D C

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