If in the figure above price P1 equals $3.00, price P2 equals $14.00, price P3 equals $30.50, and quantity Q1 equals 89 units, then what is the value of consumer surplus the market equilibrium? O a $1223.75 Ob $1980.25 O c. $1246.00 Od $734.25 Oe. $489.50 Of $756.50
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- A friend of yours is off to Paris to eat croissants at Laduree on Rue Royale Croissants Total value. EFTIRER ALLEZ MITS 1 2 3 4 3. Why does she eat more at lower prices? 5 6 7 8 2. How many will she eat at $10? How many at $4? $10.00 $18.50 $25.50 $31.00 $35.00 $37.50 $38.50 $38.00 1. What happens to her total happiness when she eats each additional croissant? Is it increasing/decreasing at an increasing/decreasing rate? Marginal ValueAlda is willing to pay $2,000 to visit her favoritecousin over spring break. A month ago, she bookeda trip costing $1,200. Spring break has arrived, butAlda needs one day to finish an important paperbefore she goes. Alda could cancel her trip and geta refund of $800. Or, she could pay an additional$1,000 (on top of the $1,200 she already paid) torebook the trip for two days later. Explain whatAlda should do.Tane 1E Se.Fot Eamcation Tary notes that an electronics store is affenng a flat $20 off all prices in the store Tony reasons that he is better off if he buys something with a price of $S0 than sOmething with a price of $500 because it would represent a larger disCount as a percentage of the price. This Is: 35 Select one Oa Aabional ahoice because saviing 40% Is better than saving 48. O& Trug Tony would slso be better off f he didn't spend so much Oc False savng $20 is saving $20. Od The proper applicabon of Cost-Benefit Principle NEXT PAGE
- What price ÅSsuming do you line and budget that understand by line? Consumer has income of $180, which monthly he Spends Good' X on two commodities and Grood Y. The price l07 Good $13 and price of the is $24. What would ' be Combinations of Crood X is Various Good Y this combinations line regard? and in and write draw various budget according ly?As a consumer, how can you sustain your needs (basic commodities) despite the challenges in increased price of theseitems in the market? How can you makeuse of your imitative, and utilize your income to satisfy your demands at the most affordable prices?The above figures show the market for gasoline. Which figure(s) shows the effect of an increased preference for cars that are smaller and more fuel efficient? DI 这些 D2 D2 D₁ Quantity (gallons of gas) Quantity (gallons of gas) Figure A Figure B Price (dollars per gallon) S2 她 Quantity (gallons of gas) Figure D Quantity (gallons of gas) Figure C O Figure A O Figure B O Figure C O Figure D Price (dollars per gallon) S2
- The table shows the total utility data for products S and T. Assume that the prices of S and T are $3 and $5, respectively, and that consumer Income is $22. Total Utility Units of S 1 12 2 27 3 ºd $43 3 43 Multiple Cheice P $4 Which of the following price-quantity schedules would represent the demand for S in the $3 and $4 price range (ə) (c) () P Ra $42 3 14 option C option E eption A (b) PARE 39 48 51 Od 3 5 Units of T 1 2 P 54 3 ROAD રત 2 3 Total Utility 20 35 45 50 52 CUINIf a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded of that product, will another 10 decrease in the price cause another 3 increase (no more and no less) in quantity demanded?ourses/76705/quizzes/99976/take/questions/1710702 pe Question 9 4 pt 1. Price D2 D1 Quantity Which of the following scenarios is most likely to cause the change in the market for avocados reflected in the graph above? O Global recession dramatically reduces incomes everywhere O Eating more avocados are found to reduce blood sugar O New time saving techniques are used to harvest avocados O Urban sprawl is reducing the area in which avocados are grown Next» * Previous
- Tea 50 40 30 20 10 0 Tea 50 40 30 20 10 0 OC OA D Chart A 2 5 10 15 20 25 30 Scones Chart C 5 10 15 20 Tea 25 30 Scones 50 40 30- 20 10 0 Tea 50 40 30 20 10 Chart B 5 10 1 0 5 15 20 25 30 Scones Chart D Look at the figure Budget Lines for Tea and Scones. For months now. Agnes has had $20 per month to spend on tea and scones. The price of each cup of tea and each scone has been $1. Which of the charts shows what will happen to her budget line if the price of a cup of tea falls to $0.50? 10 15 20 25 30 Scones 1 ptsPrice per arginal Utility Fron Current Consumption Product Unit $ 10 20 20 30 The table shows the marginal utite derived trom curent consumpton leves of three new products. A B and C at are being sold in the maet at the prces isted The contumer can imniediately gan the most extra total utity by winching spending from Mnple Choce ANEWhich of the following statements is correct Multiple Choice If supply increases and demand increases, equilibrium quantity will rise. If supply increases and demand increases, equilibrium price will rise. If supply increases and demand increases, equilibrium quantity will fall. If supply increases and demand remains constant, equilibrium price will rise. If supply decreases and demand remains constant, equilibrium price will fall. Mc Graw Type here to search