3- Use the figure below to answer the following questions. Styles 70 60 Supply 50 40 2 30 Demand 1000 2000 3000 4000 5000 6000 7000 8000 Quantity (number of hours of gardening service per month) Figure 1 a- Consider the demand curve in Figure 1. What is the consumer surplus (CS) when the price is $30 per hour? (Mention the area using the numbers and calculate CS) b- Consider the demand curve in Figure 1. What is the producer surplus (PS) when the price is $30 per hour? (Mention the area using the numbers and calculate PS) c- Consider the demand curve in Figure 1. If the price rises from $30 to $50 per hour, What will happen to economic surplus? (Mention the area using the numbers) d- Consider the demand curve in Figure 1. If the price falls from $30 to $15 per hour, What will happen to economic surplus? (Mention the area using the numbers) 20 10 Price ($s per hour)

3- Use the figure below to answer the following questions. Styles 70 60 Supply 50 40 2 30 Demand 1000 2000 3000 4000 5000 6000 7000 8000 Quantity (number of hours of gardening service per month) Figure 1 a- Consider the demand curve in Figure 1. What is the consumer surplus (CS) when the price is $30 per hour? (Mention the area using the numbers and calculate CS) b- Consider the demand curve in Figure 1. What is the producer surplus (PS) when the price is $30 per hour? (Mention the area using the numbers and calculate PS) c- Consider the demand curve in Figure 1. If the price rises from $30 to $50 per hour, What will happen to economic surplus? (Mention the area using the numbers) d- Consider the demand curve in Figure 1. If the price falls from $30 to $15 per hour, What will happen to economic surplus? (Mention the area using the numbers) 20 10 Price ($s per hour)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?

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Referring to the graph below (Figure 3) showing a consumer's initial budget line (labeled BO) and new budget line (labeled B1) for two goods, X and Y, and two different indifference curves (IC1-IC2). IC2 IC1 B0 81 Figure 3 Consider the shift in the budget line from B0 to B1. Which of the statements cannot explain the observed shift in the budget line? O a. The consumer's income doubled and the prices of both X and Y tripled. O b. The consumer's income increased and prices remained constant. The consumer's income decreased and prices remained constant. O C. O d. The consumer's income is unchanged and the prices of both X and Y increased. The consumer's income decreased by 25% and the prices of both X and Y decreased O e. by 5%.
Eleanor is a hard-working college junior. One Tuesday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Eleanor's first hour of work, from 8:00 AM to 9:00 AM, is The marginal gain from Eleanor's third hour of work, from 10:00 AM to 11:00 AM, is[ Later, the teaching assistant in Eleanor's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 25 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading.…
The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Note: PRICE (Dolar per box) 249 ARKRE 20 50 45 40 35 0 40 Supply and 80 120 160 200 240 200 320 350 400 QUANTITY (Mons of boxes) Graph Input Tool Market for Florida Oranges Price (Dollars per box) Quantity Demanded (Millions of boxes) 15 232 Quantity Supplied (Millions of boxes) 168
Exercise A3 What dome slices of a pie chart represent?
What is a production technology?
Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.
Ginny is a hard-working college senior. One Sunday, she decides to work nonstop until she has answered 150 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 60 10:00 AM 105 11:00 AM 135 Noon 150 Use the table to answer the following questions. The marginal, or additional, gain from Ginny’s second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Ginny’s fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Ginny’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 52.5 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same…
Teresa is a hard-working second-year university student. One Thursday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Teresa's second hour of work, from 9:00 AM to 10:00 AM, is The marginal gain from Teresa's fourth hour of work, from 11:00 AM to noon, is problems. problems. Later, the teaching assistant in Teresa's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 35 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during…
Edit View History Bookmarks People Window Help Tab 100% Thu 9:40 AM Group | Internship focu X sakai.rutgers.edu : FRM COLO X Chapter 6 - Knewton knewton.com/learn/section/02a22af7-Ofc1-4bd0-adf0-6b695b188b23/quiz/121b96ba-a283-4cac-b674-6cf08293504c/results HBO Max N Netflix НВО Маx a Prime Video Disney+ Sy Symbolab Youtube Target 4p Chase Navy Federal C Chegg WS.J WSJ 1R Rutgers Zoom Khan Academy QUESTION 7 0/1 POINTS Quantity of Product A Total Utility Marginal Utility Quantity of Product B Total Utility Marginal Utility 1 16 16 1 30 30 30 14 46 16 42 12 61 15 52 10 4 75 14 60 8. 88 13 66 6. 6. 100 12 7 70 4 7 111 11 Please refer to the table above. The price of Product A is $1 and the price of Product B is $3. How many of Product A is in the optimal consumption choice if this consumer is limited to spending $25? X That's not right. 4 unit(s) of Product A FEEDBACK 234 n6
Please help to solve this into detail. Thank you.
Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980
2spring22 (1) - Protected View Saved to this PC - Search (Alt+Q) erences Mailings Review View Help der Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing. Enable Editing 1- Refer to the information provided in Table1. The table sets out Sue's Surfboards' total product schedule. Answer the following questions. Table 1 Output (surfboards per week) 50 80 125 185 200 220 230 Labor (workers per week) 1 3. 4 7 Calculate the average product of labor b. Calculate the marginal product of labor Over what output range does Sue's Surfboards enjoy the benefits of increased specialization and the division of labor? a. C. d. Over what output range does Sue's Surfboards Experience diminishing marginal product of labor? 0n workers at $650 a week and its total