b. i) If Q+P= 5 and 2P-Q =5.5 (3) find Q* and P* 2 ii) QD= 30 - 6P 2 QS= 2P¯+ 4P + 6

If the FC = $200, the VC of the 9th unit is $400, and the VC of the 8th unit is $300, then ___: a) The MC curve is above the ATC curve at the 10th unit;b) The MC of the 8th unit is $80;c) The ATC of the 8th unit is $80;d) The AVC of the 8th unit is $75.

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A company is evaluating 3 different distribution plans for a new product. The company has developed best case (60% probability) and worst case (40% probability) estimates for each plan. Results are summarized in the table below. What is the optimal decision based on the maximum expected value criterion? Worst Best Plan 1 -2 10 Plan 2 3 6 Plan 3 4 5 Prob 0.4 0.6