Homework Answers
1) The area of the shaded quadrilateral is 165,000
Working: We will apply the formula of 1/2 *base * height, thus area of the shaded quadrilateral:
(1/2*70*7000) - (1/2*40*4000) = 165,000
2) The area of the quadrilateral corresponds to the total amount spent between day, 40 and day, 70
Working: The area of the quadrilateral reflects the total amount spent between day, 40 and day, 70
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The blue line on the following graph shows a firm's daily costs for the first 90...
12. The blue line on the following graph shows the speed of a bike as it...
12.
The blue line on the following graph shows the speed of a bike as it accelerates down a hill. 20 18 16 14 12 10 6 0 23 5 678 910 TIME (Seconds) 2 12 10 n. 0 1 2345 6 7 8910 TIME (Seconds) 10.5 21 42 The area of the shaded quadrilateral is feet The area of the quadrilateral corresponds to the ▼ between Grade It Now Save & Continue Continue without saving 0 1 2345 6...
The area of the quadrilateral corresponds to the (a) average amount spent per day or (b)...
The area of the quadrilateral corresponds to the (a)
average amount spent per day or (b) total amount
spent between :
a. day 40 and day 70
b. day 0 and day 40
c. day 0 and day 70
d. day 40 and day 100
The blue line on the following graph shows a firm's daily costs for the first 90 days of the fiscal year. Because the firm is expanding, its cost constantly rising. o 6 2 10 20...
3. Using the midpoint method The following graph shows two known points (X and Y) on...
3. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for tomatoes 10 II Demand 10 203050 00 0 8 100 QUANTITY (Thousands of pounds of tomatoes) 10 II Demand 10203° 40 50 60 70 BO 90 100 QUANTITY (Thousands of pounds of tomatoes) According to the midpoint method, the price elasticity of demand suggests that the demand for tomatoes its for tomatoes between point X and point Y is approximately...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive market. Suppose the market price for the good is $80 per unit Use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss at the market price of $80 per unit if the firm chooses to produce the profit-maximizing quantity of output Profit or Loss PRICE AND COST (Dollars) QUANTITY (Thousands of units) At the market price of $80...
1. Working with Numbers and Graphs 01 The following graph shows a demand curve (in blue)...
1. Working with Numbers and Graphs 01 The following graph shows a demand curve (in blue) and a supply curve (in orange). Suppose a price ceiling of $8 per unit is imposed. Use the grey points (star symbols) to shade the area representing the deadweight loss resulting from the price ceiling. Supply Deadweight Loss PRICE Demand 0 1 2 3 7 8 10 4 5 6 QUANTITY Grade It Now Save & Co Continue withol
4. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in...
4. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in Dallas. 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 Total Revenue 200 180 140 120 O 100 0 60 40 20 0 18 27 3 45 54 63 72 90 99 108 QUANTITY (Bippitybops) On the following graph, use the green...
4. Supply and demand for loanable funds alog The following graph shows the market for loanable...
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CENGAGE I MINDTAP asearch this course :jonatan Numbers and Graphs Perfect Competition (Ch 09) a T...
CENGAGE I MINDTAP asearch this course :jonatan Numbers and Graphs Perfect Competition (Ch 09) a The following graph shows the dally cost curves of a firm operating in a perfectly competitive market. Suppose the market price for the good is $40 per unit. Use the blue rectangle (circie symbols) to shade the area representing the firm's pront or loss at the market price or $40 per unit i the irm chooses to produce the pront-maximizing quantity or output. Profntor Loss...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market for cashmere sweaters is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. Profit or Loss PRICE AND COST (Dollars per sweater) 0 10 90 100 20 30 40 50 60 70 80 QUANTITY OF OUTPUT (Sweaters) In the short run, at a market price of $80 per sweater, this firm will choose to...
Suppose that the market for blenders is a competitive market. The following graph shows the daily cost curves of a firm operating in this market
Suppose that the market for blenders is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. In the short run, at a market price of $50 per blender, this firm will choose to produce _______ blenders per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the...
12.
The blue line on the following graph shows the speed of a bike as it accelerates down a hill. 20 18 16 14 12 10 6 0 23 5 678 910 TIME (Seconds) 2 12 10 n. 0 1 2345 6 7 8910 TIME (Seconds) 10.5 21 42 The area of the shaded quadrilateral is feet The area of the quadrilateral corresponds to the ▼ between Grade It Now Save & Continue Continue without saving 0 1 2345 6...
The area of the quadrilateral corresponds to the (a)
average amount spent per day or (b) total amount
spent between :
a. day 40 and day 70
b. day 0 and day 40
c. day 0 and day 70
d. day 40 and day 100
The blue line on the following graph shows a firm's daily costs for the first 90 days of the fiscal year. Because the firm is expanding, its cost constantly rising. o 6 2 10 20...
3. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for tomatoes 10 II Demand 10 203050 00 0 8 100 QUANTITY (Thousands of pounds of tomatoes) 10 II Demand 10203° 40 50 60 70 BO 90 100 QUANTITY (Thousands of pounds of tomatoes) According to the midpoint method, the price elasticity of demand suggests that the demand for tomatoes its for tomatoes between point X and point Y is approximately...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive market. Suppose the market price for the good is $80 per unit Use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss at the market price of $80 per unit if the firm chooses to produce the profit-maximizing quantity of output Profit or Loss PRICE AND COST (Dollars) QUANTITY (Thousands of units) At the market price of $80...
1. Working with Numbers and Graphs 01 The following graph shows a demand curve (in blue) and a supply curve (in orange). Suppose a price ceiling of $8 per unit is imposed. Use the grey points (star symbols) to shade the area representing the deadweight loss resulting from the price ceiling. Supply Deadweight Loss PRICE Demand 0 1 2 3 7 8 10 4 5 6 QUANTITY Grade It Now Save & Co Continue withol
4. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in Dallas. 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 Total Revenue 200 180 140 120 O 100 0 60 40 20 0 18 27 3 45 54 63 72 90 99 108 QUANTITY (Bippitybops) On the following graph, use the green...
4. Supply and demand for loanable funds alog The following graph shows the market for loanable funds in a closed economy. The upward sloping range line represents the supply of loanable funds, and the downward sloping blue line represents the demand for loanable funds ters ans access Tips ccess Tips 10 FOR YOU Suppo Tools NTEREST RATL Pent ar Principles of wand edback 100 LOANABLE FUNDS INTEREST RATE (Percent) Demand . 100 200 300 400 500 600 700 80000 1000...
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