1. When the P-intercept is P10, what is the coefficient of price elasticity of demand at a selling price of P5.00?

a. greater than 1

b. lesser than 1

c. equal to 1

2. The Total fixed cost is P10,000, the selling price is P12 per unit, the average variable cost is P10. Which of the following represents the output when profit is P3,000?

a. 4,000 units

b. 6,500 units

c. 3,500 units

3. The Total fixed cost is P10,000, the selling price is P12 per unit, the average variable cost is P10. Which of the following represents the profit when output is 3,000 units?

a. 4,000

b. -4,000

c. 6,500

d. none of the above

4. The Total fixed cost is P10,000, the selling price is P12 per unit, the average variable cost is P10. Which of the following represents the break-even quantity?

a. 3,000 units

b. 4,000 units

c. 5,000 units

5. If a point along the demand curve is labeled (10,5), it means that

a. the price is P10 pesos and the quantity demanded is 5 units.

b. the quantity demanded is 10 units and the price is P5 pesos.

c. the price is 10 units and the quantity demanded is 5 pesos.