TIS & APPBased on Darnell's willingness to sell, plot his supply curve as a step function on the following graph using the orange points (square symbol). Be sureto plot your first point at (0, 0),10Darnell's SupplyPrice = $5Quantity Sold3Producer Surplus121Quantity of WaterSuppose the price of a bottle of water is $5.Use the black line (plus symbol) to drawa price line at $5. Next use the grey point (star symbol) to indicate how many bottles of water Darnell willproduce and sell at that price. Finally, use the purple point (diamond symbol) to shade the area that represents Darnell's producer surplus.In this case, Darnell receives Sin producer surplus from his water sales.If the price rises to $8, Darnell now sellsbottles of water. Thishis producer surplus to SPrice of Wat er2. 5.Darnell owns a water pump. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of waterrises as he pumps more, Here is the cost he incurs to produce each bottle of water:Cost of first bottle:$1Cost of second bottle: $4Cost of third bottle:$7Cost of fourth bottle: $9From this information, complete the following table by denving Darne/'s supply schedule.PriceQuantity SuppliedMore than $9$7 to $9$4 to $7$1 to $4$1 or less

5. Probiems and Damell owns a water pump. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of water rises as he pumps more. Here is the cost he incurs to produce each bottle of water: Cost of first bottle: $1 Cost of second bottle: $4 Cost of third bottle: $7 Cost of fourth bottle: $9 From this information, complete the following table by deriving Darnell's supply schedule. Price Quantity Supplied More than $9 $7 to $9 $4 to $7 $1 to $4 $1 or less

5. Probiems and Damell owns a water pump. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of water rises as he pumps more. Here is the cost he incurs to produce each bottle of water: Cost of first bottle: $1 Cost of second bottle: $4 Cost of third bottle: $7 Cost of fourth bottle: $9 From this information, complete the following table by deriving Darnell's supply schedule. Price Quantity Supplied More than $9 $7 to $9 $4 to $7 $1 to $4 $1 or less

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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pls, solve this ques within 10-15 minutes with clear explanations and also explain why other options are wrong I'll give you multiple upvotes.