Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.(?)FREE-THROW PERCENTAGE1009080703020100012GAME35Game Free-Throw PercentageAverage Free-Throw PercentageYou can think of the result in any one game as being Sam's marginal free-throw percentage. Based on your previous answer, you can deduce thatwhen Sam's marginal free-throw percentage is above the average, the average must beYou can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average totalcost curve, the average total cost must beAlso, when the marginal cost curve is above the average total cost curve, the average totalcost must be. Therefore, the marginal cost curve intersects the average total cost curve Consider the following scenario to understand the relationship between marginal and average values. Suppose Sam is a professional basketball player,and his game log for free throws can be summarized in the following table.Fill in the columns with Sam's free-throw percentage for each game and his overall free-throw average after each game.Game Result Total Game Free-Throw Percentage Average Free-Throw PercentageGame18/108012/2014/2816/3222/4023458/104/102/82/46/880On the following graph, use the orange points (square symbol) to plot Sam's free-throw percentage for each game individually, and use the greenpoints (triangle symbol) to plot his overall average free-throw percentage after each game.Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.

Average total cost is the per unit average cost of production. It is determined by dividing the…

Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) FREE-THROW PERCENTAGE 100 90 80 70 60 50 40 30 20 10 0 0 2 GAME 3 5 -O- Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Sam's marginal free-throw percentage. Based on your previous answer, you can deduce that when Sam's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average tota cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be

Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) FREE-THROW PERCENTAGE 100 90 80 70 60 50 40 30 20 10 0 0 2 GAME 3 5 -O- Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Sam's marginal free-throw percentage. Based on your previous answer, you can deduce that when Sam's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average tota cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5. 7) Fifteen years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average salary of recent high school graduated was $25,000 and that now the average salary has risen to $28,500. Fortunately for your analysis a neighboring community did not change its annual spending on education. In the other town 15 years ago high school graduates earned an average of $22,500, and now the average is $23,750. a) Use a differences-in-differences estimator to determine whether Easton’s spending increase potentially caused the wages of high school graduates to rise. b) What underlying assumption do you have to make in order for your estimate to be valid? What might cause that underlying assumption to not be valid?
Assume the following: (1) three people go to a restaurant, (2) each person orders a soda for P2 and the group of three orders a large pizza to share for a price of P12 and (3) a fourth person joins the group and orders one soda and is invited to share in eating the pizza. Which of the following statements is false? a. The cost of the fourth person’s soda will be P2. b. The total cost of the four sodas consumed by the group is P 8. c. When the fourth person joined the group the total cost of the large pizza increased to P 16. d. When the fourth person joined the group the average pizza cost per person dropped to P3.
64. (This problem assumes knowledge of the basic rulesof baseball.) George Lindsey (1959) looked at boxscores of more than 1000 baseball games and foundthe expected number of runs scored in an inning foreach on-base and out situation to be as listed in the fileP09_64.xlsx. For example, if a team has a man on firstbase with one out, it scores 0.5 run on average untilthe end of the inning. You can assume throughout thisproblem that the team batting wants to maximize theexpected number of runs scored in the inning.a. Use this data to explain why, in most cases,bunting with a man on first base and no outs isa bad decision. In what situation might buntingwith a man on first base and no outs be a gooddecision?b. Assume there is a man on first base with one out.What probability of stealing second makes an attempted steal a good idea?
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10 - You were planning to spend Saturday working at your part-time job, but a friend asks you to go skiing. What is the true cost of going skiing? Now suppose that you had been planning to spend the day studying at the library. What is the cost of going skiing in this case? (Answer the question according to the definition of opportunity cost.) (5 points)
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3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Jacques is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Jacques’s free-throw percentage for each game and his overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 1 8/10 8/10 80 80 2 6/10 14/20 3 1/5 15/25 4 3/5 18/30 5 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Jacques’s free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.…
Only typed answer Kara and Kyle are competing sockeye salmon fishers. Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each. Kara's cost per ton is $6; Kyle's cost per ton is $10. Assume that the market price of sockeye salmon is $14 per ton. If Kara pays Kyle $5 per ton for his ITQs, and if she then catches her new limit of 4,000 tons, her profit would be?
1.Use the marginal analysis technique to determine the quantity of organic coconut oil that will maximize net benefits. Present results in table form and highlight the maximizinglevel. 2. Graphically illustrate letter B. Separate the graphs for TB – TC approach, MB = MC rule, and net benefit (maximum). The sequence of the graph: (1) TB – TC approach (topmost graph); (2) net benefit (middle graph); and (3) MB, MC, & MNB (last, 3rd graph). But be sure that the graphs are parallel in X-axis so as to be consistent in the results. (Label your graphs accordingly and appropriately.)
A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught: Hours Fish (pounds) 0 0 1 10 2 18 3 24 4 28 5 30 The fisherman has a fixed cost of $10 (his pole) and the opportunity cost of his time is $5 per hour. What is the total cost of capturing 28 pounds of fish? Question 7 options: 30 40 20 10
Suppose that the total benefit and total cost from a continuous activity are, respectively, given by the following equations: B (Q) = 100 + 36Q -4Q and C (Q) = 80 + 12Q Write out the equationfor the net benefits. What are the net benefits when Q= 1? Q= 5? Write out the equation for the marginal net benefits. What are the marginal net benefits when Q= 1? Q= 5? What level of Q maximizes net benefits? At the value of Qthat maximizes net benefits,what is the value of marginal net benefits?
Intermediate MicroeconomicsProblem Set 10.Submission options:â€¢ in person during lectures or TA sessions;â€¢ in Xiaoye Liaoâ€™s mail box at 19 West 4th, 6th Floor;â€¢ (less recommended) e-mail Xiaoye Liao atxl775@nyu.eduâ€“ in that case, be sure to use the subject line: â€œSubmission Problem Set 10â€.Exercise 1Consider a game of rock-scissor-paper. There are two players, player 1 and player 2,and the winner receives $1 from the loser (if they draw, nothing happens). They playthis game simultaneously.1. What kind of game is this? Express this game in normal form.2. What are the set of possible actions and strategies?3. Find all Nash equilibria of this game.Exercise 2Consider a game represented by the following payoff matrix. Find all pure strategyNash equilibria. UMD LCR?10, 0 ?10, ?1 ?10, ?1?8, ?8 0, ?102, ?14, 57, ?101, 1 Exercise 3Consider a game represented by the following…