5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each sandwich he eats: Value of first sandwich Value of second sandwich Value of third sandwich Value of fourth sandwich Value of fifth sandwich Value of sixth sandwich a. Use this information to construct Nassir's demand curve for sandwiches 0.600KD 0.500KD 0.400KD 0.300KD 0.200KD 0.100KD b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy? C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at a price of 0.200KD? d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now? What would happen to Nassir's consumer surplus? Show this change on your graph

5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each sandwich he eats: Value of first sandwich Value of second sandwich Value of third sandwich Value of fourth sandwich Value of fifth sandwich Value of sixth sandwich a. Use this information to construct Nassir's demand curve for sandwiches 0.600KD 0.500KD 0.400KD 0.300KD 0.200KD 0.100KD b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy? C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at a price of 0.200KD? d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now? What would happen to Nassir's consumer surplus? Show this change on your graph

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 1SCQ: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can...

See similar textbooks

Similar questions

. It is a hot day, and Bert is thirsty. Here is the value heplaces on each bottle of water:Value of first bottle $7Value of second bottle $5Value of third bottle $3Value of fourth bottle $1a. From this information, derive Bert’s demandschedule. Graph his demand curve for bottledwater.b. If the price of a bottle of water is $4, how manybottles does Bert buy? How much consumersurplus does Bert get from his purchases? ShowBert’s consumer surplus in your graph.c. If the price falls to $2, how does quantitydemanded change? How does Bert’s consumersurplus change? Show these changes in yourgraph.
c.Define a budget line d.Given that Tebogo's income is P1800 price of food is P30 and price of entertainment is P40, Draw tebogos budget line. e.Using a diagram, show waht would happen to Tebogo,s budget line if income increases from P1800 to P2100 while prices remain P330 for food and P40 for entrtainment. f.Using a diagram, show what would happen to Tebogo's budget line if income increases from P1800 to P2100 while prices remain P30 for food and P40 for entertainment.
39. The following chart shows thec total utility-that Ammar receives from çonşuming various amounts-of chocolate.candy bars each day: Number candy, bars consumed për đay Total'utility 1' 40- 2 70 90 100 4. 80 Which of the following statements about Ammar's marginal utility is correct? Hiş marginal utility from the first candy bar is greater-than his marginalutility from the second candy' bar
Five consumers have the following marginal utility ofapples and pears:Marginal Utilityof ApplesMarginal Utilityof PearsClaire 6 12Phil 6 6Haley 6 3Alex 3 6Luke 3 12The price of an apple is $1, and the price of a pear is$2. Which, if any, of these consumers are optimizingtheir choices of fruit? For those who are not, howshould they change their spending?
See Pigure entitled "Conumer move from A to B or C. Aume that this figure shows Gustavo's demand for a product called Daton. If Gustavo ia originally at point A, which ot the following can cause him to move to point C. For each of the options gives ume that all other determinants of demand (other than the change specified) remain unchanged. Connet move bom A to B or C 40 20 10 60 Quaitity ) Decrease in price of Daton's substirute Caton. 2) Deerease in price of Daton 3) Increase in price of Daton 4)Inerease in Gustavo's income
d. None of the above * 4Tam maximizing my utility with respect to bread and bananas, and the marginal of a loaf of bread is twice the marginal utility of a bunch of bananas: 2 I buy four times as many loaves of bread as bunches of bananas ' touy twice as many bunches of bananas as ļoaves of bread Pb. OI buy more loaves of brecad than bunches of bananas, but you do not know Poreasl.how many more d. The price of a bunch of bananas is twice that of a loaf
Focus on the maxims of Quantity, Relation, and Manner. Which maxim(s) is/are flouted whensomeone retweets, and how does flouting the maxim(s) cause viewers to assume an impliedmeaning that a retweet signals agreement with the message in the retweet?
Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the goods you buy has a negative income elasticity, that is, it is an inferior good, what must be true of the income elasticity of the other good you buy?
Would you expect total utility to rise or fall with additional consumption of a good? Why?
The rules of politics are not always the same as the rules of economics. In discussions of setting budgets for government agencies, there is a strategy called closing the Washington Monument. When an agency faces the unwelcome prospect of a budget cut, it may decide to close a high-visibility attraction enjoyed by many people (like the Washington Monument). Explain in terms of diminishing marginal utility why the Washington Monument strategy is So misleading. Hint: If you are really trying to make the best of a budget cut, should you cut the items in your budget with tile highest marginal utility or line lowest marginal utility? Does the Washington Monument strategy cut the items with the highest marginal utility or line lowest marginal utility?
Tammy loves donuts. The table shown reflects the value Tammy places on each donut she eats:Value of first donut $0.60Value of second donut $0.50Value of third donut $0.40Value of fourth donut $0.30Value of fifth donut $0.20Value of sixth donut $0.10a. Use this information to construct Tammy's demand curve for donuts.b. If the price of donuts is $0.20, how many donuts will Tammy buy? c. Show Tammy's consumer surplus on your graph. How much consumer surplus would shehave at a price of $0.20? d. If the price of donuts rose to $0.40, how many donuts would she purchase now? Whatwould happen to Tammy's consumer surplus? Show this change on your graph.
34. If Hager's total utility from consuming falafel increased at a constant rate, no matter how many falafel Hager consumed, what would Hager's demand curve for falafel look like? a. Vertical 6) Horizontal C. Downward sloping d. Upward sloping