Please answer the following multiple-choice questions:

1. The competitive equilibrium can be obtained as:

a. Intersection of the MR and MC

b. Intersection of S and D

c. Intersection of MR and AC

d. None of the above

2. The marketing director for a Swiss specialty equipment manufacturer estimates the rm can sell 200 units and earn total revenue of CHF500,000. However, if 250 units are sold, revenue will total CHF600,000. At the level of 250 units, the marginal revenue per unit is closest to:

a. CHF2,000.

b. CHF2,400.

c. CHF2,500

d. None of the above.

Consider the following information for the following 3 questions. A rm's director of operations gathers the following information about the rm's cost structure at different levels of output:

Exhibit A

Quantity (Q)	Total Fixed Cost (TFC)	Total Variable Cost (TVC
0	200	0
1	200	100
2	200	150
3	200	200
4	200	240
5	200	320

3. Refer to the data in Exhibit A. When quantity produced is equal to four units, the average xed cost (AFC) is closest to:

a) 50.

b) 60.

c) 100.

d) 110

4. Refer to the data in Exhibit A. When the rm increases production from four to ve units, the marginal cost (MC) is closest to:

a) 40.

b) 64.

c) 80.

d) 90.

5. Refer to the data in Exhibit A. The level of unit production resulting in the lowest average total cost (ATC) is closest to:

a) 2.

b) 3.

c) 4.

d) 5.