not use ai please HW: Ten Principles of Economics AssignmentStoreLocal Shoe StoreTravel Time Each Way(Minutes)15Price of a Sneakers(Dollars per sneakers)112Different Neighborhood in Town3098Rural Outlet6086Juanita earns an hourly wage of $42 at her job. In order to purchase her sneakers she will have to take time off work, so each hour away from her jobcosts her $42 in lost income. Assume that Juanita's travel time is the same each way (to and from the store) and that it will take her 30 minutes onceshe reaches a store to complete her shopping. Assume throughout the question that Juanita incurs no additional costs other than the sneakers, suchas gas.Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.StoreLocal Shoe StoreDifferent Neighborhood in TownRural OutletOpportunity Cost of Time(Dollars)Price of a Sneakers(Dollars per sneakers)Total Cost(Dollars)1129886Assume that Juanita considers both her opportunity costs and the price of sneakers when making her shopping decision. Juanita will minimize her costof buying the sneakers if she shops at the

1. Local Shoe StoreTravel time each way: 15 minutesTotal travel time: 15+15=30 minutesShopping time:…

Answered: HW: Ten Principles of Economics…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 9PA

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Store Travel Time Each Way Price of a Suit (Minutes) (Dollars per suit) Local Department Store 15 100 Across Town 30 86 Neighboring City 60 63 Juanita makes $56 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $56 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Store Opportunity Cost of Time Price of a Suit Total Cost (Dollars) (Dollars per suit) (Dollars) Local Department Store 100 Across Town 86 Neighboring City 63
Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department Store 15 102 Across Town 30 85 Neighboring City 60 76 Juanita makes $42 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $42 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Please answer typed
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Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.
8. Study Questions and Problems #7 If someone's health declines, due to sickness or injury, their human capital revenue product and wage. This will tend to the person's marginal Gandak Now Savo & Continue
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Store Local Shoe Store Different Neighborhood in Town Rural Outlet Travel Time Each Way (Minutes) 15 30 60 Juanita earns an hourly wage of $34 at her job. In order to purchase her boots she will have to take time off work, so each hour away from her job costs her $34 in lost income. Assume that Juanita's travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Juanita incurs no additional costs other than the boots, such as gas. Store Local Shoe Store Price of a Boots (Dollars per boots) 110 103 82 Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time (Dollars) Price of a Boots (Dollars per boots) 110 Total Cost (Dollars) 103 82 Different Neighborhood in Town Rural Outlet Assume that Juanita considers both her opportunity costs and the price of boots when making…
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Eleanor is a hard-working college junior. One Tuesday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Eleanor's first hour of work, from 8:00 AM to 9:00 AM, is The marginal gain from Eleanor's third hour of work, from 10:00 AM to 11:00 AM, is[ Later, the teaching assistant in Eleanor's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 25 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading.…
2. Hakim works 40 hours per week and currently earns $10.25 per hour at his job. His supervisor tells him that next month, he will receive a 7% pay increase. a) Calculate Hakim's new hourly pay. b) How much will Hakim earn per month after the increase? Assume a 4-pay month.
Explain the law of Equi marginal utility with the help of schedule. (

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