Question 1 Complete the following table: Units of Labor Total Product Average Product Marginal Product 20 30 66 -- 10 16 78 - 7 10Question 1 Suppose the demand schedule for compact discs is as follows: Price Quantity Demanded Quantity Supplied 40 20 10 35 30 12 24 45 14 16 50 1. If the price increase from $8 to $10, calculate the price elasticity of demand compact discs. 2. If the price increase from $8 to $10, calculate the price elasticity of supply compact discs.Question 2 Yesterday, the price of envelopes was $3 a box, and Julie was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Julie is now willing to buy 8 boxes. 1. What is Julie's elasticity of demand? 2. Is Julie's demand for envelopes elastic or inelastic? 3. To have total revenue increases, should she decrease the price of the envelopes? Why or why not?Question 3 Use the following information to compute your own-price; incomer and cross-price elasticity of demand for propan Quantity Demanded income {$1399} Heat Pump Price heaters. 1 . Calculate d1e price elasticity of demand for propane heaters when a price decrease from $303 to $259. 2. Calculate income elasticity of demand for propane heaters when income increases from $2ELEHZICI to . 3. Calculate cross elasticity of demand for propane heaters when price decrease from $3l to $209. Question 2 Find TC, AFC, AVC, ATC, and MC for the following table. output fc VC to mc afc avc atc 0 50 0 50 90 50 120 50 165 4 50 220 5 50 290