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The owner of a skating rink rents the rink for parties at $1080 if 60 or...
The owner of a skating rink rents the rink for parties at $1320 if 60 or fewer skaters attend, so that the cost per pers...
The owner of a skating rink rents the rink for parties at $1320 if 60 or fewer skaters attend, so that the cost per person is $22 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Price per Skater Total Revenue 60 $ 70 $ 80 $ (b) Does the owner's revenue from...
fa skating rink rents the rink for parties at $200 if 20 or fewer skaters attend,...
fa skating rink rents the rink for parties at $200 if 20 or fewer skaters attend, so that the cost per person is $10 if 20 attend. For each 5 skaters above 20, she reduces The owner the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 20, 30, and 40 skaters attend. No, of skaters Total Revenue Price per Skater 20 $ 30 40 (b) Does the owner's revenue from the rental of...
The owner of an apartment building can rent all 60 apartments if she charges $1,800 per...
The owner of an apartment building can rent all 60 apartments if she charges $1,800 per month, but she rents one fewer apartment for each $50 increase in monthly rent. (a) Construct a table that gives the revenue generated if she charges $1,800, $1,850, and $1,900. No. of Apts 60 Rent Total Revenue $1,800 s 59 $1,850$ $1,900$ (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,800 to $1,900? O revenue increases...
The owner of an apartment building can rent all 60 apartments if she charges $1,600 per...
The owner of an apartment building can rent all 60 apartments if she charges $1,600 per month, but she rents one fewer apartment for each $50 increase in monthly rent (a) Construct a table that gives the revenue generated if she charges $1,600, $1,650, and $1,700. No. of Apts Rent Total Revenue 60 | $1,600|$ 59 $1,650 58 $1,700 (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,600 to $1,700? O revenue...
20629393 6. -45 points y Notes Ask Your This is Section 3.8 Problem 30: A motel owner observes th...
20629393 6. -45 points y Notes Ask Your This is Section 3.8 Problem 30: A motel owner observes that when a room is priced at $60 per day, all 80 rooms of the motel are occupled. For every $3 rise in the charge per room per day, one more room is vacant. Each occupled room costs an additional $16 per day to maintain. (a) The demand function, expressed by p, the price in dollars charged for each room per day,...
1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases...
1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases specialization B) may cause coordination difficulties. C) always increases the amount of output produced D) increases efficiency. 2) Which of the following statements is NOT true? A) AFC = AC - AVC C) AVC = wage/MPL B) AC = AFC + AVC D) C=F-VC 3) The more elastic the demand curve, a monopoly A) will have a larger Lemer Index. will face a lower...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40 euros, the price per unit of good X (i.e. Px ) is 5 euros and the price per unit of good Y (i.e. Py) is 1 euro. a) What is the marginal utility of good X (MUx) for the consumer? ( Answer: MUx = 10) b) What is the marginal utility of good Y (MUy) for the consumer? ( Answer: MUy = 1) c)...
Q1 Which of the following are included and which are excluded in calculating this year's GDP....
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
fa skating rink rents the rink for parties at $200 if 20 or fewer skaters attend, so that the cost per person is $10 if 20 attend. For each 5 skaters above 20, she reduces The owner the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 20, 30, and 40 skaters attend. No, of skaters Total Revenue Price per Skater 20 $ 30 40 (b) Does the owner's revenue from the rental of...
The owner of an apartment building can rent all 60 apartments if she charges $1,800 per month, but she rents one fewer apartment for each $50 increase in monthly rent. (a) Construct a table that gives the revenue generated if she charges $1,800, $1,850, and $1,900. No. of Apts 60 Rent Total Revenue $1,800 s 59 $1,850$ $1,900$ (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,800 to $1,900? O revenue increases...
The owner of an apartment building can rent all 60 apartments if she charges $1,600 per month, but she rents one fewer apartment for each $50 increase in monthly rent (a) Construct a table that gives the revenue generated if she charges $1,600, $1,650, and $1,700. No. of Apts Rent Total Revenue 60 | $1,600|$ 59 $1,650 58 $1,700 (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,600 to $1,700? O revenue...
20629393 6. -45 points y Notes Ask Your This is Section 3.8 Problem 30: A motel owner observes that when a room is priced at $60 per day, all 80 rooms of the motel are occupled. For every $3 rise in the charge per room per day, one more room is vacant. Each occupled room costs an additional $16 per day to maintain. (a) The demand function, expressed by p, the price in dollars charged for each room per day,...
1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases specialization B) may cause coordination difficulties. C) always increases the amount of output produced D) increases efficiency. 2) Which of the following statements is NOT true? A) AFC = AC - AVC C) AVC = wage/MPL B) AC = AFC + AVC D) C=F-VC 3) The more elastic the demand curve, a monopoly A) will have a larger Lemer Index. will face a lower...
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
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