Homework Answers
6. a) 0 units
The consumer will buy 0 units since the price of $8 is too high. The consumer is unwilling to make any purchase at that price level.
7. a) Increase prices and increase quantity supplied.
Since the demand is greater than the supply, the price increases. There is a need to increase the supply to make sure that an equilibrium is reached.
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
IN 5 6 7 8 9 10 -50000+ - 100000 - 150000 -200000 Discount Rate The...
IN 5 6 7 8 9 10 -50000+ - 100000 - 150000 -200000 Discount Rate The owner of a r salon spends $1,000,000 to renovat s premises estimating that will increase her show by 1220,000 per year. She constructe Alwaldscontrole does Per decision to renovate become untenatie? above graph which shows en presente (NPV)m a ction of the discoun OA. 48% OB 40% OC.3.3% OD 3.0% Use the information for the question(s) below. 150000 100000 50000 0 + AdN -50000...
Question 23 (1 point) Figure 4-18 20 price 1 2 3 4 5 6 7 8...
Question 23 (1 point) Figure 4-18 20 price 1 2 3 4 5 6 7 8 9 10 quantity Refer to Figure 4-18. What is the equilibrium quantity in this market? a) 7.5 units Ob) 5 units OC) 10 units O d) The equilibrium quantity cannot be determined from this graph. Question 24 (1 point) Figure 4-18 2 prace 1 2 3 4 5 6 7 8 9 10 quantity Refer to Figure 4-18. What is the equilibrium price in...
Question 5 (10 points) Saved Knowing that coffee and tea are substitutes, suppose that the demand...
Question 5 (10 points) Saved Knowing that coffee and tea are substitutes, suppose that the demand for coffee increases and, at the same time, the supply of the coffee decreases. What would surely happen in the tea market? The Demand for tea will go up because the price of coffee went up The price of tea will go down because the price of coffee went up. The supply of tea will go down because the price of coffee went up....
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55...
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55 60 65 70 qani Refer to Figure 6-22. As the figure is drawn, who sends the tax payment to the government? O a. The buyers send the tax payment. O b. The question of who sends the tax payment cannot be determined from the graph. Oc. A portion of the tax payment is sent by the buyers, and the remaining portion is sent by...
In the market for televisions, the price of a television falls and nothing else changes. Price...
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
(67)Suppose that when the price of cherries is $10 per lb, the quantity supplied of cherries...
(67)Suppose that when the price of cherries is $10 per lb, the quantity supplied of cherries is 20 lbs. When price of cherries is $6 per lb, the quantity supplied of cherries is 12 lbs. The price elasticity of supply is: (a)1.7 (b)1.0 (c)2.5 (d)0.8 (68)If an excise tax is placed on the producer of a product that has a perfectly inelastic demand, given ceteris paribus then: (a)The entire tax will be paid by the producer (b)The consumer and producer...
2. 3. 4. 5. 6. 7. 8. A firm's average fixed cost (AFC) is 10 when...
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
Question 4 (2 points) The term "imaginary audience" refers to adolescents' O A) ability to understand...
Question 4 (2 points) The term "imaginary audience" refers to adolescents' O A) ability to understand how others perceive them OB) false belief that everyone is attending to their behavior and appearance OC) constant posing and posturing for "selfies" D) the belief that others are spying on them Question 5 (2 points) What is Piaget's fourth and final stage of cognitive development? O A) preoperational B) pre-formal OC) concrete D) formal Question 6 (2 points) According to Erikson, the goal...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
IN 5 6 7 8 9 10 -50000+ - 100000 - 150000 -200000 Discount Rate The owner of a r salon spends $1,000,000 to renovat s premises estimating that will increase her show by 1220,000 per year. She constructe Alwaldscontrole does Per decision to renovate become untenatie? above graph which shows en presente (NPV)m a ction of the discoun OA. 48% OB 40% OC.3.3% OD 3.0% Use the information for the question(s) below. 150000 100000 50000 0 + AdN -50000...
Question 23 (1 point) Figure 4-18 20 price 1 2 3 4 5 6 7 8 9 10 quantity Refer to Figure 4-18. What is the equilibrium quantity in this market? a) 7.5 units Ob) 5 units OC) 10 units O d) The equilibrium quantity cannot be determined from this graph. Question 24 (1 point) Figure 4-18 2 prace 1 2 3 4 5 6 7 8 9 10 quantity Refer to Figure 4-18. What is the equilibrium price in...
Question 5 (10 points) Saved Knowing that coffee and tea are substitutes, suppose that the demand for coffee increases and, at the same time, the supply of the coffee decreases. What would surely happen in the tea market? The Demand for tea will go up because the price of coffee went up The price of tea will go down because the price of coffee went up. The supply of tea will go down because the price of coffee went up....
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55 60 65 70 qani Refer to Figure 6-22. As the figure is drawn, who sends the tax payment to the government? O a. The buyers send the tax payment. O b. The question of who sends the tax payment cannot be determined from the graph. Oc. A portion of the tax payment is sent by the buyers, and the remaining portion is sent by...
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
Question 4 (2 points) The term "imaginary audience" refers to adolescents' O A) ability to understand how others perceive them OB) false belief that everyone is attending to their behavior and appearance OC) constant posing and posturing for "selfies" D) the belief that others are spying on them Question 5 (2 points) What is Piaget's fourth and final stage of cognitive development? O A) preoperational B) pre-formal OC) concrete D) formal Question 6 (2 points) According to Erikson, the goal...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
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