PRICE (Dollars per ream) O c. x to y. Ⓒd. y tox. Figure 4-9 X QUANTITY (Reams of paper) S. S₂ Refer to Figure 4-9. All else equal, an increase in the price of the pulp used in the paper production process would cause a move from a. Sa to Sb. Ob. Sb to Sa.
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- Campbell needs to be paid at least $500 in order to sell their bicycle. They sell their bicycle and realize $125 in producer surplus. How much money was paid to Campbell for their bicycle?Table 24-5The table below pertains to Wrexington, an economy in which the typical consumer’s basket consists of 20 pounds of meat and 10 toys. Year Price ofMeat Price of aToy 2004 $3 per pound $2 2005 $1 per pound $7 2006 $4 per pound $5 Refer to Table 24-5. The cost of the basket Group of answer choices increased from 2004 to 2005 and increased from 2005 to 2006. increased from 2004 to 2005 and decreased from 2005 to 2006. decreased from 2004 to 2005 and increased from 2005 to 2006. decreased from 2004 to 2005 and decreased from 2005 to 2006.The price of the commodity is P4/unit. Complete the table below Note: The table has already been answered and the three sub-parts. ONLY NO. 4 AND 5 HAVE LEFT UNANSWERED Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 -100 10 90 10 40 100 40 140 4 10 14 4 4 -100 20 80 20 80 100 55 155 2.75 5 7.75 4 1.5 -75 30 70 30 120 100 67 167 2.23 3.33 5.567 4 1.2 -47 40 60 40 160 100 77 177 1.925 2.5 4.425 4 1 -17 50 50 50 200 100 86 186 1.72 2 3.72 4 0.9 14 60 40 60 240 100 93 193 1.55 1.67 3.216667 4 0.7 47 70 30 70 280 100 113 213 1.61 1.42 3.04 4 2 67 80 20 80 320 100 143 243 1.7875 1.25 3.0375 4 3 77 90 10 90 360 100 183 283 2.03 1.11 3.14 4 4 77 100…
- Qd = β0 +β1Psh +β2M+β3Pcg+β4Ax+ β5C Where, Qd = Quantity demand for a deluxe room in sh Psh = Price of a deluxe room in sh (US$/room) = US$. 200.00 M = Visitors per capita income (US$/Day) = US$ 120 Pcg = Price of a deluxe room in CG (US$/room) = US$. 150.00 Ax = Average advertising expenditure in sh (US$/room) US$. 18.00 C = Customer Satisfaction Index = 8.56 DV: Q R- Square: 0.86 T table value 1.671 No of obse: 62 F- Ratio: 154.15 Var Para Esti SE β0 127.8 49.6 β1 -1.3.0 0.42 β2 2.75 1.01 β3 2.55 1.21 β4 1.41 0.48 β5 1.85 0.23 a) Are estimated parameters comparable with economic theory? why ,What are the significant parameters that could be impact on the demand for a deluxe room b) Construct the Total Revenue (TR) function of Sh hotel and determine the TR maximize demand c) Calculate and interpret, cross-price elasticity, income elasticity, and advertising elasticity of demand for a deluxe room and Calculate Adjusted R2 and interpret it.Samsung sells its 16in monitors to Apple for £85 per screen. Its estimated cost is £49 andApple is willing to pay up to £99. The value creation (VC) and consumer surplus (CS) in thiscase are equal to:a. VC=£50 , CS=£14.b. Impossible to say.c. VC=£36 , CS=£14.d. VC=£99 , CS=£36Only typed answer and don't use chat gpt InlSuppose I purchased a piece of art of $50. The next week, when someone offers me $1000 for it, I refuse. Mmy consumer surplus from the art is A. $1050. B. less than $50. C. at least $950. D. at least $1000.
- Q3. Mary works on a part-time job with a monthly income $300. She spends money only infitness centre and other goods represented as composite good with a price of 1$/unit. Thefitness centre membership costs her $50 per month, and she can work out in the centre up to20 visite per month for free. Each additional visit beyond 20 will cost her $5/visit. (Hints;assume that x is the fitnese centre visite, and y is a composite good $1/unit.] a) Write down and simplify Mary's budget constraint function(s).b) Draw Mary's budget line with clear labels,No written by hand solution Suppose there is an increase in lump sum taxes. Describe and illustrate the impact on consumers’ optimal choices for consumption, leisure, and labor supply with a graph. What is the impact on consumer welfare?Need answer asap. Consumer surplus? A limited edition package is sold only to 200 customers for $130 each. The average value of the package for the 200 customers is $280.
- Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?1. What is meant by "extended order" of the marketA grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? marginal revenue gross earnings pure profit marginal costs net benefit
