PLEASE ANSWER THE SECOND BLANK!!!! THANK YOU 14000-12000-10000-8000-C,6000-4000-2000-F1L1of2000 4000 6000 8000 10000 12000 14000FoodOther Consumption Suppose the income elasticity of demand for food is 0.50 and the price elasticity of demand is- 1.50. Suppose also that Felicia spends $10,000 a year on food, the price of food is $2, andthat her income is $25,000.If a sales tax on food caused the price of food to increase to $2.50, what would happen to herconsumption of food? Because a large price change is involved, use the arc elasticity tomeasure the price elasticity of demand rather than a point elasticity.Felicia's consumption of food would decrease by 1428.57 units. (Enter your response roundedto two decimal places.)Suppose that Felicia gets a tax rebate of $2,500 to ease the effect of the sales tax. What wouldher consumption of food be now? (Again, use an arc income elasticity to answer this questioninstead of a point income elasticity.)Felicia's consumption of food would nowdecimal places.)units. (Enter your response rounded to two

The budget constraint is the limit of the opportunity set—all the different combinations of…

Answered: Suppose the income elasticity of demand…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Number of wells Total water output (in 1000s of liters/day TR TC AVR Profit 0 0 0 0 0 0 10 100 10000 600 1000 9400 20 200 20000 1200 1000 18800 30 280 28000 1800 933.3 26200 40 340 34000 2400 850 31600 50 380 38000 3000 760 35000 60 400 40000 3600 666.7 36400 70 400 40000 4200 571.4 35800 80 380 38000 4800 475 33200 90 340 34000 5400 377.8 28600 Use your graph and the data in your table to identify the economically efficient numberof wells (Hint: What is the profit maximizing number of wells?)
The Economic Service Life ( ESL ) for an the number of years at which the highest cost occurs . O. True O. False The amount expended in the past and be recovered is O. Opportunity Cost O. Sunk Cost O. First Cost O. M & O Cost The value at the end of the asset's expec O. salvage value O. purchase value O. annual value O. future value
Average expense operating expense year one 4000 year year 2 (4000) 3(4500) year three 4 5000 year 5 5500 slavage Value year 1 (6000) 2 (5000) 3 (4000) 4( 2500) 5(1250)
what do you think about NFTs in the market, is there and need for them? And what are some concerns regarding NFT in the public are the ethical correct?
Please no written by hand and no emage Solve in excel Carp, Inc. wants to evaluate two machines for packaging their products.Machine A:Initial cost is $700,001st year O&M cost is 18,000; this cost increases $900 each year.The annual benefits are $154,000It can be sold at the end of 10 years useful life for $145,000 Machine B:Initial cost is $1,600,001st year O&M cost is 28,000; this cost increases $650 each year.The annual benefits are $300,000It can be sold at the end of 20 years useful life for $210,000The companies uses an interest rate of 15% Use annual cash flow analysis to decide which is the most desirable alternative.
Product Q uses 2 chemicals - A and B. Scrap materials are disposed at a cost 250 per tonne. During the month 1000 tonnes of A and 1500 tonnes of B were used to produce 50000 tonnes of Product Q. 4 tonnes of Product Q were scraped and were reused in the nexts month's production What is the environmental cost?
A company is going to buy a new machine for manufacturing its products. Five machines are available. Data is as follows: A B C D E First Cost 25,200 31,800 38,500 46,600 52,500 Power per year 1,300 1,450 2,600 2,300 2,300 Labor per year 10,500 9,200 6,200 3,900 2,350 Maintenance per year 2,800 1,800 1,400 1,300 850 Taxes per year 3% 3% 3% 3% 3% Life, years 5 5 5 5 5 If money is worth 15% before taxes to the company, which machine should be chosen? Use Annual Cost Method
a) 12800 b) 14400 c) 9600 d) 11200
Current assets 10,000 dollars; Stock 2000 dollars; Current Liabilities $ 4000; The quick ratio equals Select one: a. 6000 b. 3 c. 2 d. 2.5
Market demand is q=1200-20p
A) Mary O’Leary’s company ships fine wool garments from CountyCork, Ireland. Five years ago she purchased some new automatedpacking equipment having a first cost of $125,000. The annual costsfor operating, maintenance, and insurance, as well as market valuedata for each year of the equipment’s 10-year useful life are asfollows. B) Now Mary is looking at the remaining 5 years of her investment inthis equipment. What is the marginal cost for each of the remaining5 years? When, if at all, should Mary replace this packing equipmentwith a new asset that has a minimum EUAC of $110,000?
asap pls, thank you!

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS