x 84 Price 50 45 40 35 30 25 20 15-- 10 5 0 0 10 20 30 40 50 60 70 80 90 100 Quantity Consider the figure shown. What is the consumer surplus when the P-$15? Selected Answer: Correct Answer: Answer range +/-0.1 (1224.9-1225.1) 490 1,225
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- Shane teaches guitar lessons. The graph below shows the comparison of his expenses and revenue for one month. r ($) L -1000 000 -600 200 Number of Lessons Expenses Revenue How many lessons must he teach to break even?$1200 $1000 $1000 D3 D1 D2 $600 D3 D1 D2 0 300 500 650 500 Computers Per Week Computers Per Week A Refer to the graphs. Which of the following best represen Price Priceities/97507c54-29b3-4b89-bbid-c07ca40b872e/curiosity-feed?section=ef2825d6-34c2-4bae-8d5b-fec67cf63218 MY COMMUNITY ST Questions Bilal A Student at 0 Asked by Sara Kress Bloomingto 8 Student at Indiana University Bloomington 5 Availabl 0 Do you think taxing household carbon emissions would decrease the amount they would spend on gas and heat, and therefore My Questions have a positive impact on the environment? 2 All-Time Are gas and heat normal or inferior goods? Track my own par Will people continue to produce the same amount of carbon emissions no matter the price? ABOUT THIS COMMUN Graf - ECON 201 - Add Response 0 Responses Options 11:51 PM, 9/28/2019 Microeconomics 289 Student learners 0 532 Questions asked 923 Responses shared Asked by Carrie Haltermnan Student at Indiana University Bloomington As more forests are cut down and burned, how will the elasticity of wood and its' compliments be effected? A-K Change Section THIS COMMUNITY'S PRC Trees are crucial to our life on Earth.…
- NOTE: Answer only the d and eProfit = 2203.4*Demand -705030 Profit(1000)QUESTION 9 The FitBit is a device that monitors various health and fitness activities of a person. When it was first introduced by FitBit Inc., the FitBit was the only device of its type in the market. Assume this is still the case and that the marginal cost of production is $55 per FitBit. Below is a table of potential prices that could be charged and the corresponding quantities. Price (S/FitBit) Quantity (FitBits) 160 60 145 70 130 80 115 90 100 100 What price should FitBit Inc. charge in order to maximise profit? Answer to the nearest whole number (with no decimal places or $ sign).
- Please Only 8 & 9 I will rate the answerTennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models: MODEL AVERAGEQUANTITYSOLD (UNITS/MONTH) CURRENTPRICE TOTALREVENUE VARIABLECOST PERUNIT CONTRIBUTIONMARGIN PERUNIT CONTRIBUTIONMARGIN* A B C Total 15,000 5,000 10,000 $30 35 45 $450,000 175,000 450,000 $1,075,000 $15.00 18.00 20.00 $15 17 25 $225,000 85,000 250,000 $560,000 *Contribution to fixed costs and profits.The company is considering lowering the price of Model A to $27 in an effort to increase the number of units sold. Based on the results of price changes that have been instituted in the past, Tennis Products’ chief economist estimates the arc price elasticity of demand to be –2.5. Furthermore, she estimates the arc cross elasticity of demand between Model A and Model B to be approximately 0.5 and between Model A and Model C to be approximately 0.2. Variable costs…Prce per botie (S) The diagram to your right describes the per unit costs and revenues related to the monopoly firm NutriPowder Inc. NutriPowder Inc manufactures and sels a new food powder called NuriPowder that provides the consumer with all the essential nutnents and yet helps the consumer treduce his or her woight significantly Using the rectange drawing tool, draw the area that represents the weekly maximum total prote eamed by manufacturing and selling NutnPowder. Label it Profr. Note: if you are not prompted for a label then you have used the wrong drawing tool MC to ATC 41 20 112 MR 20 Quantity (Hundeds of bottes per week)
- COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied. Already solve few hours agob) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? Already solve few hours agoc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in…COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied.b) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? GRAPHc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in favor of which argument you are in favor of.6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Houston. 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 bike) 300 275 ) 250 225 175 150 125 100 75 50 25 0 0 + 6 12 18 24 30 36 42 48 QUANTITY (B) Demand 54 60 66 72 Total Revenue
