Please answer the questions below and kindly provide an explanation.

PART 1: Computations/ Analyical Questions 1) The demand curve is given by: QD = 5000 - 10P Find the price and quantity at which total revenue is maximized and the maximum revenue. 2) Refer to the demand and supply equations. At a price of $35, there will be Qd = 80 - 2P Qs = -10 + 4P 3) If the total cost of producing one unit of the output is $100 and the marginal cost of that unit is $20, the average fixed cost of producing two units of output is 4) Carefully explain if the following statements are true, false, or uncertain. a. If average cost is increasing, marginal cost must be increasing. b. If there are diminishing returns, the marginal cost curve must be positively sloped. C. Marginal costs decrease as output increases because the firm can spread fixed costs over more units. 5) Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q. a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer. PART 2: Application of Managerial Economic Theories/ Concepts 1) Suppose that the demand for oranges increases. Carefully explain how the rationing function of price will restore market equilibrium