Use the graph on the right to sketch the budget constraint. 1.) Using the line drawing tool, sketch the following budget constraint. Label your line 'BC'. Px $24.00 Py $15.00 Income $480.00 Note: Carefully follow the instructions above and only draw the required object. ID 32- 28- 24- 20 Units of Y 6. 12- 8- 8 16 Units of X 12 20 24 28

Use the graph on the right to sketch the budget constraint. 1.) Using the line drawing tool, sketch the following budget constraint. Label your line 'BC'. Px $24.00 Py $15.00 Income $480.00 Note: Carefully follow the instructions above and only draw the required object. ID 32- 28- 24- 20 Units of Y 6. 12- 8- 8 16 Units of X 12 20 24 28

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?

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QUESTION 1 Given the Budget of $1000 P of X = 10 10 Q of X TU of X (10s) (Average) MU of X MU/$ of X ooooo 0 10 20 30 40 .50 60 70 80 100 180 250 310 365 0 10 8 7 6 5.5 ២៦ 415 460 502.5 90 542.5 5 4.5 4.25 4 100 581.5 3.9 1 0.8 0.7 0.6 0.55 0.5 0.45 0.425 0.4 0.39 P of Y = 500 Q of Y TU of Y MU of Y MU/S of Y 500 0 1 2 3 5 510 870 1195 1485 1730 510 360 325 290 245 1.02 0.72 0.65 0.58 0.49 The optimal consumption bundle: of X; of Y
Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.
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Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?
Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. What is the value of M? a. $50 b. $140 c. $360 d. $410
AutoSave W- q5 micro OFF Home Insert Draw Design Layout References Mailings Review View Share O Comments Calibri (Bod... v 11 A^ A Аa v AaBbCcDdE AaBbCcDdEe AaBb( AaBbCcDc AaBbCcDdE€ AqBbCcDdEe > Paste A A No Spacing Subtle Emph... Styles Pane Sensitivity v ab X, Subtitle U Normal Heading 1 Heading 2 Title * Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates Consider a monopolist that produces coal for energy, with demand curve defined by P = 190 – 20 and marginal cost given by MC = 10 + 2Q. Also, the firm's average total cost is ATC = 100/Q + Q+ 10. (Price and costs are in dollars per tonne of coal, while quantity is in thousands of tonnes.) Calculate the monopolisť's profit-maximizing quantity, price, and profit. For a monopoly, profit maximization occurs where the marginal revenue equals the marginal cost. a. b. What would be the competitive output and price if this monopolist operated as a competitive firm?…
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Mega Partner is selling two products Marker(m) and Eraser(e) and their budget is given with thefollowing equation: 15Qe+ 30Qm= 3000. Now answer the following questions. I. Draw the budget line for Mega PartnerII. What would be the highest amount spend on Marker with the existing budgetIII. If Total budget increases to 4500 what would be the new budget line (use diagram)IV. If Price of the Marker becomes 15, how this changes the existing budget line keeping allthe values remain same.