1. The following incomplete table shows a firm's various costs of producing up to 6 units of output. Fill in as much of the table as possible. If you cannot determine the number in a box, explain why it is not possible to do so.

A

Q	TC	TVC	TFC	AC	MC	AVC
1	100
2		140
3			20
4				95
5					170
6						120

B.

Q	TC	TVC	TFC	AC	MC	AVC
1	20				10
2				18
3						15
4		72
5					30
6	144

1. Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay for a good or service. ... The producer surplus is the difference between the actual price of a good or service-the market price-and the lowest price a producer would be willing to accept for a good.

Given the following information, calculate both the producer and consumer surplus a. P- 140 = - .5q b. MC = 10 + 4q (must show all work to receive full marks)

1. Calculate the consumer surplus, and producer surplus given:

P = 120 - .25q and MC + 2q =5. Illustrate your response.