MyLab Economics with Pearson eText -- Access Card -- for Foundations of Economics
8th Edition
ISBN: 9780134518312
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 15, Problem 8SPPA
To determine
To explain:
The cost and revenue of the maple syrup market and the cost and revenue of one maple syrup producer in 2016.
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Question 2
suppose Boeing is the only firm that produces aeroplanes in the world. The marginal cost of producing an aeroplace of Boeing is $50,000. The quantity demanded for Boeing's aeroplane is provided as bleow.
Table1 -Demand schedule
Price/ Quantity
(thousands $)
40,000 /10
30,000 /30
20,000 / 60
10,000 / 100
1) calculate Boeing's total revenue and marginal revenue. How many aeroplances will Boeing Produce?
Full explain this question and text typing work only
We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line
Pic 1 :
You live in a town with 300 adults and 200 children, and you are thinking about putting on a play to entertain your neighbors and make some money. A play has a fixed cost of $2,000, but selling an extra ticket has zero marginal cost. Here are the demand schedules for your two types of customers:
Price
Adults
Children
(Dollars)
(Tickets)
(Tickets)
10
0
0
9
100
0
8
200
0
7
300
0
6
300
0
5
300
100
4
300
200
3
300
200
2
300
200
1
300
200
0
300
200
To maximize profit, you would charge $ ?
for an adult's ticket and $ ?
for a child's ticket. Total profit in this case would be $ ?
The city council passes a law prohibiting you from charging different prices to different customers.
Now you set a price of $ ?
for all tickets, resulting in $ ?
in profit.
Pic 2 :
Indicate whether each of the following groups of people is better off, worse off, or the same because of the law prohibiting price discrimination.…
Amazon May be Sprinting into Athletic Apparel
People increasingly wear their workout clothes outside the gym and athletic clothing sales in the United States increased by 15 percent in 2015 and 12 percent in 2016. Amazon wants to get this $44 billion market, which is currently dominated by Nike and Under Armour.
How will Amazon’s entry into the athletic clothing market influence Nike and Under Armour?
Choose the best answer.
Amazon’s entry into the athletic clothing market will 1.(increase, decrease, have no effect) the demand for Nike’s and Under Armour’s clothing. Nike’s and Under Armour’s price will 2. (increase, decrease, have no effect) and the quantity they each produce will 3.(increase, decrease, have no effect). They were making an economic profit before Amazon entered (which is why Amazon entered the market) but Amazon’s entry 4.(raised, decreased, had no effect on) their economic profit.
Chapter 15 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Foundations of Economics
Ch. 15 - Prob. 1SPPACh. 15 - Prob. 2SPPACh. 15 - Prob. 3SPPACh. 15 - Prob. 4SPPACh. 15 - Prob. 5SPPACh. 15 - Prob. 6SPPACh. 15 - Prob. 7SPPACh. 15 - Prob. 8SPPACh. 15 - Prob. 9SPPACh. 15 - Prob. 10SPPA
Ch. 15 - Prob. 11SPPACh. 15 - Prob. 1IAPACh. 15 - Prob. 2IAPACh. 15 - Prob. 3IAPACh. 15 - Prob. 4IAPACh. 15 - Prob. 5IAPACh. 15 - Prob. 6IAPACh. 15 - Prob. 7IAPACh. 15 - Prob. 8IAPACh. 15 - Prob. 9IAPACh. 15 - Prob. 10IAPACh. 15 - Prob. 11IAPACh. 15 - Prob. 1MCQCh. 15 - Prob. 2MCQCh. 15 - Prob. 3MCQCh. 15 - Prob. 4MCQCh. 15 - Prob. 5MCQCh. 15 - Prob. 6MCQCh. 15 - Prob. 7MCQCh. 15 - Prob. 8MCQ
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