Homework Answers
11) social marginal benefit will be the sum of the marginal benefit received by two consumers. For IV unit, total marginal benefit is 20 + 16 = 36. Select $36
12) 3 units. This is because total marginal benefit is $54 at this quantity and marginal cost is also $54.
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Q11 (1 point). Tom and Jerry are the only members of society. The table below shows...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable, non-rival good. Should the government provide the good? O Yes. O No. e TC MB to Sam MB to Jill 0 0 ܢܕ 12 12 14 2 24 8 12 3 36 6 10 4 48 4 8 5 60 2 6 09 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable,...
5. Three cake makers have very different ways of operating their businesses. The table below shows...
5. Three cake makers have very different ways of operating their businesses. The table below shows the total cost for each of them, for making cakes. Quantity of cakes Ciara's total cost Linda's total cost SO $0 1 $8 $12 $20 ut WN Ryan's total cost SO $211311 $ 53 $10 $1919 $33 $53 $25 $28 $16 $24 $32 $40 $48 $29 $29 / / / / a) Calculate the marginal costs for each cake maker. b) Draw the marginal...
Question 8 1 pts The following table shows Total Utility data for products Land M. Assume...
Question 8 1 pts The following table shows Total Utility data for products Land M. Assume that the price of Lis $2 each and the price of Mis $4 each and that the consumer's income is $24. What quantities of Land M should be purchased to maximize total utility? Units of L 1 1 2 3 4 5 Total Utility 9 15 18 20 21 Units Total of M Utility 16 2 28 3 36 4 40 5 42 4...
Q20 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the...
Q20 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. What is the price paid by each consumer? O 4.50 O 4.60 O 4.70 0 4.80 р Q Demanded Q Supplied 4.00 140 20 4.10 130 40 4.20 120 60 4.30 110 80 4.40 100 100 4.50 90 120 4.60 80 140 70 160 4.70 4.80 60 180 4.90...
1. Given the table below, compute total product for resources A and resources B Both resources...
1. Given the table below, compute total product for resources A and resources B Both resources are varible and are employed in purely competitive markets. The price of A is $4.00 and the price of 8 is $8.00. The Final product is $1.00 per unit. (20 points) Quantity of Resources A Quantity of resources B Marginal Product of B TP MRP TRB Marginal TRA Employed Product of A TP MRP 40 32 24 20 16 36 32 24 16 12...
not sure from my answers ^^ Q18 (1 point). The table below shows the demand and...
not sure from my answers ^^
Q18 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. What is the new equilibrium quantity sold? 40 60 оооо 80 100 P Demanded Q Supplied 20 4.00 140 4.10 130 40 4.20 120 60 110 80 4.30 4.40 100 100 90 120 4.50 4.60 80 140 70 4.70 4.80 160 180 60...
Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the...
Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. How much tax revenue, in dollars, is collected by the government from the tax? Numerical answer Q Supplied Q Demanded 140 4.00 20 4.10 130 40 4.20 120 60 4.30 110 80 4.40 100 100 4.50 90 120 4.60 80 140 4.70 70 160 4.80 60 180 4.90 50...
Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC,...
Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of X? OUTPUT(Q) FC VC TC AVC ATC MC 10 200 400 х 11 662 Y 12 82 N $40 $600 $6000 $60 Question 10 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the fixed cost when...
21) Refer to Figure 9-17. Without trade, consumer surplus is 1 point Figure 9-17 1 Price...
21) Refer to Figure 9-17. Without trade, consumer surplus is 1 point Figure 9-17 1 Price Domestic Supply World price + tariff World Price Domestic Demand 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76 80 84 88 92 96 100 Quantity O a. $400 and producer surplus is $200. b. $400 and producer surplus is $800. O c. $1,600 and producer surplus is $200. O d. $1,600 and producer...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price for this firm? Q FC VC TC MC AFC AVC ATC 0 100 100 100 16 116 16 100.0 16.0 116.0 2 100 30 130 14 50.0 15.0 65.0 100 42 142 12 33.3 14.0 47.3 100 56 156 14 25.0 14.0 39.0 100 72 172 16 14.4 34.4 100...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable, non-rival good. Should the government provide the good? O Yes. O No. e TC MB to Sam MB to Jill 0 0 ܢܕ 12 12 14 2 24 8 12 3 36 6 10 4 48 4 8 5 60 2 6 09 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable,...
5. Three cake makers have very different ways of operating their businesses. The table below shows the total cost for each of them, for making cakes. Quantity of cakes Ciara's total cost Linda's total cost SO $0 1 $8 $12 $20 ut WN Ryan's total cost SO $211311 $ 53 $10 $1919 $33 $53 $25 $28 $16 $24 $32 $40 $48 $29 $29 / / / / a) Calculate the marginal costs for each cake maker. b) Draw the marginal...
Question 8 1 pts The following table shows Total Utility data for products Land M. Assume that the price of Lis $2 each and the price of Mis $4 each and that the consumer's income is $24. What quantities of Land M should be purchased to maximize total utility? Units of L 1 1 2 3 4 5 Total Utility 9 15 18 20 21 Units Total of M Utility 16 2 28 3 36 4 40 5 42 4...
Q20 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. What is the price paid by each consumer? O 4.50 O 4.60 O 4.70 0 4.80 р Q Demanded Q Supplied 4.00 140 20 4.10 130 40 4.20 120 60 4.30 110 80 4.40 100 100 4.50 90 120 4.60 80 140 70 160 4.70 4.80 60 180 4.90...
1. Given the table below, compute total product for resources A and resources B Both resources are varible and are employed in purely competitive markets. The price of A is $4.00 and the price of 8 is $8.00. The Final product is $1.00 per unit. (20 points) Quantity of Resources A Quantity of resources B Marginal Product of B TP MRP TRB Marginal TRA Employed Product of A TP MRP 40 32 24 20 16 36 32 24 16 12...
not sure from my answers ^^
Q18 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. What is the new equilibrium quantity sold? 40 60 оооо 80 100 P Demanded Q Supplied 20 4.00 140 4.10 130 40 4.20 120 60 110 80 4.30 4.40 100 100 90 120 4.50 4.60 80 140 70 4.70 4.80 160 180 60...
Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. How much tax revenue, in dollars, is collected by the government from the tax? Numerical answer Q Supplied Q Demanded 140 4.00 20 4.10 130 40 4.20 120 60 4.30 110 80 4.40 100 100 4.50 90 120 4.60 80 140 4.70 70 160 4.80 60 180 4.90 50...
Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of X? OUTPUT(Q) FC VC TC AVC ATC MC 10 200 400 х 11 662 Y 12 82 N $40 $600 $6000 $60 Question 10 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the fixed cost when...
21) Refer to Figure 9-17. Without trade, consumer surplus is 1 point Figure 9-17 1 Price Domestic Supply World price + tariff World Price Domestic Demand 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76 80 84 88 92 96 100 Quantity O a. $400 and producer surplus is $200. b. $400 and producer surplus is $800. O c. $1,600 and producer surplus is $200. O d. $1,600 and producer...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price for this firm? Q FC VC TC MC AFC AVC ATC 0 100 100 100 16 116 16 100.0 16.0 116.0 2 100 30 130 14 50.0 15.0 65.0 100 42 142 12 33.3 14.0 47.3 100 56 156 14 25.0 14.0 39.0 100 72 172 16 14.4 34.4 100...
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