Microeconomics (13th Edition)
13th Edition
ISBN: 9780134744476
Author: Michael Parkin
Publisher: PEARSON
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Chapter 11, Problem 32APA
To determine
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Students have asked these similar questions
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.
TOTAL REVENUE (Dollars)
1460
1320
1180
1040
900
760
620
480
340
200
+
0 15 30
45 60 75 90 105 120 135 150 165 180 195
PRICE (Dollars per scooter)
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 $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is
▼, a $15-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
We have the results from our first Facebook ad campaign. The following table summarizes the
results broken down by age and whether the person seeing the add clicked through.
Age 40 or under
85
Age more than 40
65
Total
Clicked Through
150
Did Not Click
590
260
850
Total
675
325
1000
For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut
above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who
clicked through to our website are age 40 or less, we should focus our ads to only younger
people. I'm not great with number though, and since I know you had a stats class in college, I
wanted to get your opinion. Should we focus our adds only to those age 40 and under or should
we do something else?
Price
MC
AFC
AC
AVC
Quantity
Refer to the diagram above. Based on the information illustrated in the graph, which of the following is correct?
A. producing a marginal unit is reducing average costs overall
B. the marginal cost of production for producing an additional unit is below the cost for producing the
earlier units
C. the transition point between where MC is pulling down and pulling up AC always occurs at the minimum
point of the AC curve
D. low marginal costs first pull up the overall average costs
Chapter 11 Solutions
Microeconomics (13th Edition)
Ch. 11.1 - Prob. 1RQCh. 11.1 - Prob. 2RQCh. 11.2 - Prob. 1RQCh. 11.2 - Prob. 2RQCh. 11.2 - Prob. 3RQCh. 11.3 - Prob. 1RQCh. 11.3 - Prob. 2RQCh. 11.3 - Prob. 3RQCh. 11.3 - What is the shape of the AFC curve and why does it...Ch. 11.3 - Prob. 5RQ
Ch. 11.4 - Prob. 1RQCh. 11.4 - Prob. 2RQCh. 11.4 - Prob. 3RQCh. 11.4 - Prob. 4RQCh. 11.4 - Prob. 5RQCh. 11 - Prob. 1SPACh. 11 - Prob. 2SPACh. 11 - Prob. 3SPACh. 11 - Prob. 4SPACh. 11 - Prob. 5SPACh. 11 - Prob. 6SPACh. 11 - Prob. 7SPACh. 11 - Prob. 8SPACh. 11 - Prob. 9SPACh. 11 - Prob. 10SPACh. 11 - Prob. 11SPACh. 11 - Prob. 12SPACh. 11 - Prob. 13SPACh. 11 - Prob. 14SPACh. 11 - Prob. 15APACh. 11 - Prob. 16APACh. 11 - Prob. 17APACh. 11 - Prob. 18APACh. 11 - Prob. 19APACh. 11 - Prob. 20APACh. 11 - Prob. 21APACh. 11 - Prob. 22APACh. 11 - Prob. 23APACh. 11 - Prob. 24APACh. 11 - Prob. 25APACh. 11 - Prob. 26APACh. 11 - Prob. 27APACh. 11 - Prob. 28APACh. 11 - Prob. 29APACh. 11 - Prob. 30APACh. 11 - Prob. 31APACh. 11 - Prob. 32APA
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- 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. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ?arrow_forwardMust complete chart and graph MR, MC, ATC, AVC, and where Q indicates max profit. FOR CHART, FIND: Mid-point AVG Quantity Total Revenue (pxQ) Fixed costs calculations Variable costs (wages x workers) Total Costs (TC) Total Profit (TR-TC) AVC (VC/Q) ATC (TC/Q) Marginal Revenue (MR) (change in TR/ change in Q) Marginal Cost (MC) (change TC/ change in Q) Change in profit (MR-MC)arrow_forwardWhy do more sales in not equal more profitarrow_forward
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