Study the table below and answer the questions that follo Output units Total costs Average costs
(TC)
(ATC)
0
10
1
20
20
2.
28
3
34
11.3
4
38
9.5
5
42
8.4
6
48
8
7
56
8
8
72
9
2.1
2.2
Identify the value of the fixed costs.
Give an example of a fixed cost.
Briefly describe the term marginal cost.
Explain the intersection point of ATC and MC using in
2.3
2.4
2.5
Differentiate between the short run and long run.
QUESTION 3
3.1
3.2
Name TWO products with an inelastic demand.
What is the significance of price elasticity of demand to
Distinguish between normal and inferior goods.
3.3
4​

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.