Caroline is an artist. She purchases canvas, paints, brushes, and accessories for $100. She sells one of her original paintings to an art gallery for $2,000, even though an art lover will pay the gallery $5,000 for that painting. How much value does the art gallery add? O $5,000 O $1,900 O $4,900 O $100 O $3,000

2. Study Questions and Problems #2 Lorenzo can paint either 5 walls or 2 window frames in one hour. In the same time, Neha can paint either 10 walls or 1 window frames. To minimize the time spent painting, should specialize in painting walls, and should specialize in painting window frames. Grade It Now Save & Continue

Saved to this PC V ut References A A Aa x² A a. b. C. O Search (Alt+Q) Mailings Review View Help Du A A EEE ΕΞ ΑΙ ¶ ↓ E- Paragraph LO Value of first donut Value of second donut Value of third donut Value of fourth donut Value of fifth donut Value of sixth donut S Normal Problem 1 Tammy loves donuts. The table shown reflects the value Tammy places on each donut she eats: $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 If the price of donuts is $0.20, how-many donuts will Tammy buy? Why? Body Text How much consumer surplus would she have at a price of $0.20? Styles m If the price of donuts rose to $0.40, how many donuts would she purchase now? What would happen to Tammy's consumer surplus?

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Sven runs a daycare for some of the neighborhood children, where he earns $300/day inrevenue. He runs the daycare out of his home, for which the mortgage costs $3,000 per month($100 per day). Each day, Sven spends $50 on food, diapers, and other supplies. He also hassome toys and playground equipment that originally cost $500, but which he wouldn’t getany money for reselling today. Sven looks after all the children himself, so he doesn’t pay anymoney in labor costs. If he weren’t busy with the daycare, he could earn $120 per day as aprivate nanny. What is Sven’s daily economic profit from the daycare? (Select one from below) (a) $300: Economic profit is equal to revenue.(b) $180: That is his revenue minus opportunity cost.(c) $150: That is his revenue minus input cost.(d) $130: That is his revenue minus variable cost.(e) $50: That is his revenue minus accounting cost.(f) $30: That is his revenue minus economic cost.(g) $0: In the long run, all firms must make zero profits.(h) –$200:…

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

4. Kay lives in a city where housing costs $1 per square foot. They have a monthly budget of$1,000, of which they decide to allocate $500 to rent a 500 sqft. apartment and spend teother $500 on consumption. A generous relative offers Kay a deal on a 400 sqft. apartmentfor only $200 per month, which they accept. What is the equivalent variation of this transferfor Kay, in dollars per month? (Select one)(a) More than $300: Kay gets utility from both consumption and the new apartment.(b) $300: That is how much more Kay can consume with the new cost of rent.(c) $250: That is how much less Kay’s old bundle would have cost at the new prices.(d) Between $0 and $250: Kay would substitute away from her old bundle at the new prices.(e) $200: That is the additional cost of Kay’s new bundle at the old prices.(f) Between $0 and $200: Kay may prefer to substitute away from her new bundle at theold prices.(g) $100: That is the differential cost of the new apartment at the old prices.(h) $0: The new…

1. Alizeh and Kelly were traveling together and have gotten stranded at an airport overnight. They have no cash, but they did both think to bring granola bars and turkey sandwiches with them. They currently each have several granola bars and a few sandwiches. Alizeh announces that she'd be willing to give up a granola bar for one turkey sandwich. Kelly responds that turkey sandwiches are bigger than granola bars so she would be willing to give up a granola bar if she could get half a turkey sandwich. Is Kelly and Alizeh's current allocation of granola bars and turkey sandwiches efficient? Explain why or why not. (Note that you cannot rely on a rule here – you have to specifically explain why the allocation does or does not meet the definition of an efficient allocation.)

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25 Columns 1 through 4 in the following table show the marginal utility, measured in utils, that Ricardo would get by purchasing various amounts of products A, B, C, and D. Column 5 shows the marginal utility Ricardo gets from saving. Assume that the prices of A, B, C, and D are, respectively, $9, $3, $2, and $6 and that Ricardo has an income of $71. Column 1 Column 2 Column 3 Column 4 Column 5 Units of Good A Units of Units of Units of MU MU MU MU Good B Good C Good D Number of Dollars Saved MU 1 72 1 24 1 15 1 36 1 5 2 54 2 15 2 12 2 30 2 4 3 45 3 12 3 8 3 24 3 3 4 36 4 9 4 7 4 18 4 2 5 27 5 7 5 5 5 13 5 1 6 18 6 5 6 4 6 7 6 0.50 7 15 7 2 7 3.5 7 4 7 0.25 8 12 8 1 8 3 8 2 8 0.13 Instructions: Enter your answers as a whole number. a. What quantities of A, B, C, and D will Ricardo purchase in maximizing his utility? 4 units of A 3 units of B units of C units of D b. How many dollars will Ricardo choose to save?