4. A firm operates with a Fixed Cost of $100. Use the cost data provided below to determine the Average Total Cost (ATC) at an output of 5 units.

The Average Total Cost (ATC) for producing 5 units is: ____(4)____

5. Define asymmetric information and identify what specific information creators have that investors lack in the memecoin market. Answer in less than 5 sentences. ____(5)____

6. Explain why honest crypto project creators might leave the market even if they want to sell, and how this leads to a "death spiral" in less than 5 sentences. ____(6)____

一、問答申論和計算題(共 15 分)Consider a market where the demand function is \( Q_d = a - b \times P \) and the supply function is \( Q_s = k \times P \), with \( P \) representing the price, and \( Q_d \) and \( Q_s \) representing the quantity demanded and supplied, respectively. The parameters \( a \), \( b \), and \( k \) denote specific constants in the equations. If the government provides a subsidy of $1 per unit, calculate the deadweight loss. Is this loss greater, equal to, or less than the case if the government imposes an unit tax of $1 per unit? Why?

II. 簡答題 (40%) 1. A firm pays $5 for each unit of capital. Labor costs $5 per hour for the first 10 hours and $10 per hour for every hour thereafter. Draw the isocost curves for total costs of $50 and $100. (6%)

2. Suppose that the cost function of a monopolist is $TC = 100 + 10Q + 2Q^2$, and the demand curve it faces is p = 90 - 2Q. What will be the profit-maximizing price, quantity, and profit for this firm? What is the deadweight loss? (10%)

3. John is indifferent between canned soup and fresh soup. Canned soup sells for $1 per serving, and fresh soup sells for $2 per serving. Assuming that John has allocated $4 toward soup, how will he spend it? Explain your answer by drawing John's budget line and indifference curves. (8%)

4. What is the main conceptual difference between GDP and GNP? How different are GDP and GNP for countries with many citizens who work abroad? Which one is greater? (8%)

(a) purchasing power parity \( (2\%) \)

(b) frictional unemployment \( (2\%) \)

(c) economies of scale \( (2\%) \)

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