Graph the PPF     A B C D E F Sanitizer(y) 100 95 85 65 35 0 Rice (x) 0 5 10 15 20 25

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section7.1: Consumer Surplus
Problem 1QQ
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Question
  1. Graph the PPF

 

 

A

B

C

D

E

F

Sanitizer(y)

100

95

85

65

35

0

Rice (x)

0

5

10

15

20

25

 

 

  1.  Graph the two demand curve and mark Z the point where price is 4 and demand is 20.

 

Price

0

1

2

3

4

5

Demand (A)

60

50

40

30

20

10

Demand (B)

24

20

16

12

8

4

 

  1. Graph the demand curve and if the price is 6 please shade the consumer surplus

 

Price

0

2

4

6

8

10

12

Demand

60

50

40

30

20

10

0

 

  1. Graph the two supply curve and mark X the point where price is 6 and supply is 6.

 

Price

0

2

4

6

8

10

Supply (A)

0

3

6

9

12

15

Supply (B)

0

2

4

6

8

10

 

  1. Graph the supply curve and if the price is 3 and supply is 9 units please shade the consumer surplus

 

Price

0

1

2

3

4

5

Supply (A)

0

3

6

9

12

15

 

  1. Graph the demand and supply curve. Mark Z the equilibrium point

 

Price

0

5

10

15

20

25

30

Demand

60

50

40

30

20

10

0

Supply

0

10

20

30

40

50

60

 

  1. Please shade the total surplus (consumer plus producer surplus)

 

Price

0

5

10

15

20

25

30

Demand

60

50

40

30

20

10

0

Supply

0

10

20

30

40

50

60

 

  1. Graph the table below and mark the two equilibrium point as A and B

 

Price

0

3

6

9

12

15

18

Demand

600

500

400

300

200

100

0

Supply A

0

100

200

300

400

500

600

Supply B

0

200

400

600

800

1000

1200

 

  1.  Graph the table below

 

Units consumed (X)

1

2

3

4

5

6

MU

30

20

15

9

4

0

TU

30

50

65

74

78

78

 

  1. Graph the isoquant below

 

Labor (x)

50

38

28

20

14

10

8

7

Capital (y)

3

6

9

12

15

18

21

24

 

  1. Graph the cost curve below

 

output (Q)

P

TFC

TVC

TC

0

8

50

0

50

10

8

50

100

150

20

8

50

120

170

30

8

50

130

180

40

8

50

135

185

50

8

50

150

200

60

8

50

170

220

70

8

50

195

245

80

8

50

220

270

90

8

50

260

310

100

8

50

310

360

110

8

50

400

450

120

8

50

500

550

 

  1. Graph the ATC and MC below

 

output

ATC

MC

0

-

10

10

18

2

20

10

1

30

7

0.5

40

5.375

1.5

50

4.6

2

60

4.166667

2.5

70

3.928571

3.3

80

3.85

3.2

90

3.777778

5

100

3.9

9

110

4.363636

10

120

4.833333

 

 

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ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning