📝 Basic Principle of Economics

Q1. A consumer has \$120 to spend on apples (\$2 each) and bananas (\$1 each). If she buys 30 apples, how many bananas can she purchase?

💡 Difficulty: easy | ✅ Correct: B

Q2. Given the linear demand curve \( P = 100 - 2Q \) and a market price of \$40, what is the consumer surplus?

💡 Difficulty: medium | ✅ Correct: C

Q3. A firm’s total cost function is \( TC = 100 + 5Q + Q^{2} \). At which output level does average total cost reach its minimum?

💡 Difficulty: hard | ✅ Correct: B