Use the following to answer questions (6) through (11): Suppose in Tuvalu, the firm Something's Fishy is the sole provider of fresh fish to the island nation. Further, suppose the daily demand for the product of Something's Fishy is given by: Q = 5,000 - 500P, where Q is the quantity demanded and sold of fresh fish (in pounds) and P is the price of fresh fish (in U.S. dollars per pound). Also, suppose Something's Fishy total cost (TC) per day is: TC = 1,000 + 6Q. [6] The average total cost of producing and selling 200 pounds of fresh fish equals: A. $5 B. $6 C. $11 D. None of the above [7] Suppose the owner of Something's Fishy wishes to maximize the firm's total revenue. If so, ___ pounds of fish should be sold today. A. 5,000 B. 2,500 C. 800 D. None of the above

[8] Profit at the quantity where total revenue is maximized is closest in value to: A. $15,000 B. $10,000 C. $5,000 D. $0 [9] At the quantity where total revenue is maximized, the price elasticity of demand is closest in value to: A. -100 B. -2 C. -1 D. 0