Question: Section B: Answer any two (2) questions (Total Marks: 16) 2. The following information is given for Greenline bus company: Price Qty (S/trip) Demanded (trips

 Section B: Answer any two (2) questions (Total Marks: 16) 2.

The following information is given for Greenline bus company: Price Qty (S/trip)

Section B: Answer any two (2) questions (Total Marks: 16) 2. The following information is given for Greenline bus company: Price Qty (S/trip) Demanded (trips per Total Cost week) (S/week) 220 0 80 200 160 180 260 160 3 380 140 520 120 5 680 (a) Find Greenline's Total Revenue, Marginal Revenue and Marginal Cost. (3 marks) (b) Find Greenline's profit maximizing output and price and calculate firms profit (3 marks) (c) Plot a graph of Greenline's marginal revenue and marginal cost curve (2 Marks)

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