EBK MICROECONOMICS
5th Edition
ISBN: 9781118883228
Author: David
Publisher: YUZU
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Question
Chapter 1, Problem 1.20P
To determine
(a)
The following table is to be completed and it is also verified that the optimal design of fence will be square.
To determine
(b)
The manner in which the length L of the optimally designed pen will increase is to be determined.
To determine
(c)
The change in the optimal length is to be determined.
To determine
(d)
The change in the optimal area is to be determined.
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a) What is the island's maximTwo fields can be planted on Robinson Crusoe's island. Each can be used to grow oranges or apples. If Field A is planted entirely with oranges, it will produce 2 bushels (bu.) of oranges. If A is planted entirely with apples, it will yield 4 bu. of that crop. For Field B, the numbers are reversed: B will produce 4 bu. of oranges if entirely planted with oranges, or it will produce 2 bu. of apples if entirely devoted to that crop. IF A FIELD IS SPLIT BETWEEN THE TWO CROPS, the output of each crop from that field will be proportional to the fraction of the field planted in that crop. For example, if half of B is planted with each crop, then it will produce 2 bu. of oum possible output of oranges? __________
b) Graph your answer in a) on the axes found on the next page and label it point H..(Put oranges on the horizontal axis and apples on the vertical axis)
c) What is the island's maximum possible output of apples? __________
d) Graph your answer in c) on the…
A local restaurant has an advertising budget of $10,000. The restaurant can purchase TV ads from a local station (X) or send mailers to local mailboxes (Y).The price for a TV ad is
PX= $1,000. The price to send ads through the mail is PY= $500 per campaign.
Suppose the local tv station is running a special where if an advertiser buys 5 TV ads, the sixth ad is free (limit one free ad). On the graph below, how much is A?
A
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O 10
BOD
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06
CD
BL
E
X
Chapter 1 Solutions
EBK MICROECONOMICS
Ch. 1 - Prob. 1RECh. 1 - Prob. 2RECh. 1 - Prob. 3RECh. 1 - Prob. 4RECh. 1 - Prob. 5RECh. 1 - Prob. 6RECh. 1 - Prob. 7RECh. 1 - Prob. 1.1PCh. 1 - Prob. 1.2PCh. 1 - Prob. 1.3P
Ch. 1 - Prob. 1.4PCh. 1 - Prob. 1.5PCh. 1 - Prob. 1.6PCh. 1 - Prob. 1.7PCh. 1 - Prob. 1.8PCh. 1 - Prob. 1.9PCh. 1 - Prob. 1.10PCh. 1 - Prob. 1.11PCh. 1 - Prob. 1.12PCh. 1 - Prob. 1.13PCh. 1 - Prob. 1.14PCh. 1 - Prob. 1.15PCh. 1 - Prob. 1.16PCh. 1 - Prob. 1.17PCh. 1 - Prob. 1.18PCh. 1 - Prob. 1.19PCh. 1 - Prob. 1.20PCh. 1 - Prob. 1.21P
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