Question 2 a) Do you think that firms' revenues increase on account of "month end" sales? Explain your answer using elasticity concepts. (6 marks) b) Explain how the concept of returns to scale is linked to cost of production. (6 marks) c) Show using an appropriate diagram explain why income taxes are superior to value added tax which is applied to a wide range of commodities. (4 marks) d) Explain the relationship among Total Product (TP), Average Product (AP) and Marginal Product (MP). (2 marks) e) Explain the relationship between Average Cost (AC) and Marginal Cost (MC) (2 marks)