The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $ (Enter your response as an integer.) (...) Price (dollars per unit) 90- 80- 70- 65 60- 50- 40- 30- 20- 10- 0 39 25 :51 10 20 30 40 50 60 70 80 90 Quantity (1,000s of units per unit of time)

The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $ (Enter your response as an integer.) (...) Price (dollars per unit) 90- 80- 70- 65 60- 50- 40- 30- 20- 10- 0 39 25 :51 10 20 30 40 50 60 70 80 90 Quantity (1,000s of units per unit of time)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter1A: Appendix: Working With Graphs

Section: Chapter Questions

Problem 1E

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The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $. (Enter your response as an integer.) Show Transcribed Text Price (dollars per unit) 3 100 C 90- 80- 70- 60-57 50- 40- 30- 21 20- 10- 0+ 33 69 0 10 20 30 40 50 60 70 80 90100 Quantity (1,000s of units per unit of time)
Homework (Ch 05) On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter. TOTAL REVENUE (Dollars) 7830 7290 6750 8210 5670 5130 4590 4050 3510 2970 0 25 50 75 100 125 150 175 200 225 250 275 300 325 PRICE (Dollars per scooter) Total Revenue gage Learning According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $25 per scooter, shown as point B on the initial graph. Because the demand between points A and B is a $25-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must be
Effect of Weather on Prices. Suppose a freeze in Florida destroys 20% of the orange crop. Use the line drawing tool to show the effect of this freeze on the market for oranges. Be sure to properly label this line. Carefully follow the instructions above, and only draw the required objects. C Price per pound 14.00- 13.00- 12.00- 11.00- 10.00- 9.00- 8.00- 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- Orange market Quantity of oranges S₁ D₁ Q
PRICE (Dollars per CD) 20 18 16 14 2 0 0 S₂ S₁ 1 2 1 4 5 6 7 QUANTITY (Millions of CDs) 8 9 10 Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be you know that at a price of $10 per CD, the is five million CDs. Moreover,
The supply equation for a given product is y = 10x + 50, while the demand equation for the same product is given by y = 5x + 350, where x is the price per unit and y is the number of units sold. Find the break-even point, the price and quantity at which supply equals demand. First graph each line, then place a dot indicating the solution to the system. +500 + -450 400 350 300 250 200 150 100 10 50 -50 -100 -150 -200 -250 -300 10 20 30 40 50 60 70 80 90 1
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. PRICE (Dollars per scooter) TOTAL REVENUE (Dollars) 195 180 165 910 150 1130 800 1020 090 135 580 120 470 105 360 On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. 250 75 140 60 45 30 15 0 Demand 03 6 9 12 15 18 21 24 27 30 33 36 39 QUANTITY (Scooters) 0 15 30 45 Total Revenue 60 75 90 105 120 125 150 165 180 195 PRICE (Dollars per scooter) A Total Revenue ? (?) According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $30 per scooter, shown as point B on the initial graph. Because the demand between points A and B is in total revenue per week. a $15-per-scooter increase in price will lead to In general,…
I am stuck on this problem, I don't know where to start. Could you give a step by step on how to figure this problem out. Thank you. There is an increase in demand of 100 units at each price and a decrease in supply of 100 units at each price. In the graph below, draw the new demand and supply lines. Instructions: Use the graphing tools, 'D2', 'S2', to plot the new demand and supply lines on the figure and then use the grid lines to determine the new equilibrium price and quantity.
A business sells 30,000 units each month at a price of Tk.150 each. It is projected that monthly sales will increaseby 3000 units for each Tk.4.50 reduction in price.(i) Construct the demand equation(ii) What is the highest price to be paid for this product?(iii) What is the highest quantity demanded for this product?(iv) How many units will be bought if the price is Tk.100 per unit?(v) What is the price per unit if 40,000 units were demanded?(vi) Sketch the graph of the demand equation.
A business sells 30,000 units each month at a price of Tk.150 each. It is projected that monthly sales will increaseby 3000 units for each Tk.4.50 reduction in price.(i) Construct the demand equation(ii) What is the highest price to be paid for this product?(iii) What is the highest quantity demanded for this product?(iv) How many units will be bought if the price is Tk.100 per unit?(v) What is the price per unit if 40,000 units were demanded?(vi) Sketch the graph of the demand equation. You have to solve only iv,v and vi.
The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). AAPS you 100- The area of the triangle shown on the diagram is $ an integer.) 90- (Enter your response as 80- 70- 65 60- 50- 40- 30- 20- 15 10- D 25 0- 0. 75 70 10 20 30 40 50 60 80 90 100 Quantity (1,000s of units per unit of time) Price (dollars per unit)
The following graph shows the monthly demand and supply curves in the market for tote bags. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per tote bag) 80 72 64 58 48 40 32 24 16 8 0 X 0 50 100 150 200 250 QUANTITY (Tote bags) Supply 300 350 400 450 500 The equilibrium price in this market is $ Demand Graph Input Tool Market for Tote bags Price (Dollars per tote bag) Quantity Demanded (Tote bags) per tote bag, and the equilibrium quantity is Price (Dollars per tote bag) Shortage or Surplus 48 32 24 Shortage or Surplus Amount (Tote bags) 500 Quantity Supplied (Tote bags) Pressure tote bags per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether…
Task 2 - Below is a hypothetical demand and supply for apartments. Answer the following questions below using as basis the schedule given: Number of Apts. Number of Apts. Supplied/Month Rent/Month (Php) Demanded/Month 1 120,000 200 100,000 20,000 400 80,000 40,000 600 60,000 60,000 800 40,000 80,000 1000 20,000 100,000 1200 120,000 1. Draw the demand and supply curves for apartments using the schedule above. 2. What is the equilibrium rent per month? At this rent, what is the number of apartments demanded and supplied per month? 3. At P400 rent per month what will be the demand and supply of apartments? Will there be a surplus or shortage of supply? Explain your answer. 4. At 800 rent per month what will be the demand and supply of apartments? Will there be a surplus or shortage of supply? Explain your answer.