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2. (a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? 17 MC S/slice ATC /AVC 2.50 1.40 slices/day 570 2 (b) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 0.80 per slice? MC S/slice ATC JAVC 1.03 0.80 slices/day 360

Refer to the diagram, representing Slippery Slope Oil Company. What price of oil would make 15 million barrels the optimal quantity to extract and sell this year?     Multiple Choice   50   110   70   90

2 (b) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 0.80 per slice? MC S/slice ATC JAVC 1.03 0.80 slices/day 360

videos % + 450/quizzes/525164/take Is the maximum that can be made with the resources (i.e., land) the farmer has. O Can be reached if she specializes and trades with another farmer. O Does not efficiently use all of the resource available. O Uses the resources more efficiently, costing the farmer less. Question 8 Assume that Derryland and Whetonia can switch between producing cheese and producing bread at a constant rate. 4 Derryland Whetonia Table 1-1 Question 9 Labor Hours Needed to Make 1 Unit of Cheese 1 2 hs Bread The rest of the questions refer to Table 1-1 The opportunity cost of 1 unit of cheese for Derryland in terms of units of bread is Q Search 4 5

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per ogr 82.00 20.00 17.50 16.00 12.00 10.00 7.50 6.00 2.60 250 500 750 1000 120 1500 1750 Quantity of ehrimp (in kilogram) Government of Canada has introduced deficiency payment program with a target price equal to $1750 per kilogram of Shrimp, Government spending under the program is Select one Oa $12,500 Ob $22500 Oc $15,000

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Price (per latte) $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 0 5 10 Market for Lattes 15 20 25 30 35 40 45 50 Quantity of Lattes (cups) D¦ 55 60

Dollars $70 $50 $10 0 Multiple Choice о 5 10 15 20 First Year Quantity Extracted (millions of barrels) о Refer to the diagram, representing Slippery Slope Oil Company. What price of oil would make 20 million barrels the optimal quantity to extract and sell this year? 110 90 TC 130 70 EC Price Per Barrel

$1000) Average Incomes of Children with Low Income Parents (5) 9 50- 45- 40- 35- 30- 25- Upward Mobility versus Median Rent by Neighborhood Opportunity Bargains Normandy Parke 1,000 Central District 1,500 Median 2 Bedroom Rent 2,000 2,500 The image above displays the relationship between the cost of living as measured by the average rent of 2-bedroom housing, and income mobility as measured by the average income of children with low-income parents. Data for this image are from Seattle. Two neighborhoods are highlighted: Normandy Park and the Central District. Many people that receive housing vouchers would like to move to areas with high opportunities for their children, but assume those areas are too expensive. How do Normandy Park and the Central District illustrate the idea of *opportunity bargains"? there is a trade-off between the cost of living and higher income growth for the children. for families living in the Central District, Normand Park is more expensive to live in and has…

1. Refer to the table below. Emissions (tons/month) 10 6. Marginal Abatement Cost 15 30 7 50 70 100 120 150 3 185 230 290 1 01 a) The firm faces an emissions charge of $100 per ton/month. If the fim chooses to emit 0 tons/month what is the firm's total cost? b) The firm faces an emissions charge of $100 per ton/month. At what level of emissions does the firm minimize total abatement cost? c) The firm faces an emissions charge of $100 per ton/month. What is the firm's total cost with optimal choice? d) If the firm faced an emissions charge of $150 per ton/month, at what level of emissions does the firm minimize total abatement cost? e) If a regulatory agency simply mandated that the firm could emit a maximum of 5 tons/month and there were no emission charges, what would be the firm's total cost? f) If the firm faced an abatement subsidy of $100 per ton/month, what level of emissions would a firm choose? g) If the firm faced an abatement subsidy of$100 per ton/month, what would be the…

$1200 $1000 $1000 D3 D1 D2 $600 D3 D1 D2 0 300 500 650 500 Computers Per Week Computers Per Week A Refer to the graphs. Which of the following best represen Price Price

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The following graph shows the daily demand curve for bikes in Houston. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 240 220 200 Total Revenue 180 160 140 120 100 80 60 40 20 0 PRICE (Dollars per bike) 0 9 18 27 > 36 45 54 63 72 QUANTITY (Bikes) 00 8 Demand 90 81 99 106

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Consider the market for running shoes. Draw a firm's average total cost curve with no advertising. Label it ATCO Draw the firm's average total cost curve with advertising. Label it ATC₁. If the firm successfully advertises, the quantity produced increases such that OA. total cost increases and average total cost increases OB. total cost decreases and average total cost increases C. total cost increases and average total cost decreases OD. total fixed cost decreases Click the graph, choose a tool in the palette and follow the instructions to create you

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estions Pall22_Microecon_KM Join: 746518 Assigned 2 Gradebook o Handouts Sep 16, 11:59 PM Dashboard Que Sep 16, 11:59 PM < HW3 (Ch3 & 4) Homework Due in 2 days Unanswered B Melinda Lee Cantrell app.tophat.com Unanswered Ⓒ A company producing 1000 phone protection covers a week when the price was $4. Their covers become very popular pushing up the price to $8. The next month they are producing 4000 cases a week. With this information answer the following: HW3 13 Homework Unanswered Determine the elasticity of supply for this company. (2 decimal places is the default answer) Type your numeric answer and submit 10am Fall22_Microecon_KM - Assigned | Top Hat HW3 14 Homework Answered. 15/17 answered MacBook Pro Submit O Please type your answer to submit Submit 05 + 88 Becca v Open in Reading View PERFECCCCE how2ree

(a) Diagrammatically show and explain how oil prices dropped as concerns over fuel demand in the near term in COVID-19 pandemic hit Europe and the United States. Diagrammatically show and explain what happened to the oil market if the price remained unchanged despite the concerns over the fuel demand. (b) (c) You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for both of the goods.

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AFCATC $120150 6085 4060 3048 2145 2042 17.444 1548 MC 30 20 10 12 28 38 50 72 Quantity 2 3 4 7 Refer to the above information to answer this question. What is the value of the breakeven price? O a) $42 Ob) $40 Od $18 Od) $30

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate," you must show how you arrived at your final answer. Use the following graph to answer parts (a)-(e). Prices and costs are in dollars. 30 /MC ‚ATC 27 24 21 18 15 12 9. 6. 3 0 4 8 12 16 20 24 28 32 36 40 MR Quantity The graph above shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for one of many profit-maximizing firms operating in the short run in an industry in which there are no barriers to entry. Each firm sells a similar but not identical product. (a) What will happen to total revenue if the firm raises the price from $9 to $12? Explain. (b) At 16 units, is the firm producing at the allocatively efficient quantity? Explain. (c) If the firm produces 12 units, will the firm's economic profit be…

What is the highest price consumers would be willing to pay forthis product? Also called the reservation price in the market.

40- 36- 32- MC 28- 24- 20- ATC 16- 12- 8- 4- 10 20 30 40 50 60 70 80 Output (boxes of apples per day) 90 100 Price (dollars per box)

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Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. Assume gadgets are sold in a competitive market, the equilibrium price is $6, and the equilibrium quantity is 500 units. (c) Assume gadgets now become more popular. On your graph in part (a), show the effect of the increase in gadgets' popularity on the equilibrium price and quantity of gadgets. (d) Assume instead there is an increase in the price of tin, a major input in producing gadgets. What will be the effect of an increase in the price of tin on the market for gadgets? (e) If both changes in part (c) and part (d) occurred simultaneously, will the equilibrium quantity of gadgets increase, decrease, remain unchanged, or be indeterminate? Explain.

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search (All+Q) Design Layout References Mailings Review View Help Enable Editing en verified by Microsoft Defender Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing. 4) Refer to the table below to answer the following questions. Table 2 Firm A R&D A: $25 No R&D A: -$3 R&D B: $15 B: $60 Firm B A: $60 A: $50 No R&D B: -$3 B: $35 Refer to Table 2. Firms A and B can conduct research and development (R&D) or not conduct it. R&D is costly but can increase the quality of the product and increase sales. The payoff matrix is the economic profits of the two firms and is given above, where the numbers are millions of dollars. a. What is Firm A Dominant Strategy? b. What is Firm B Dominant Strategy? c. What is the Nash Equilibrium?