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Answered: O \lour margunel benetit trom eahing…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price and cost (dollars per ride) The graph shows the market for the two zipline firms that operate in a resort city. If the firms decide to compete, then together they will produce rides at a price of per ride. 60 O A. 400: $30 MC O B. 400; $50 50 O C. between 200 and 400: between $30 and $50 40 O D. 200: $30 O E. 200; $50 30 20 'D 10 MR 100 200 300 400 500 Quantity (number of rides)
Karen goes to the casino with 1000$ and plays the following strategy: In her first game, she putsin 1$. If she wins, she finishes playing and takes her profit home. If she looses a game, she willplay another game and put in twice as much money as she did in the previous game. If she wins,she will finish playing and take her profits home. She will keep going with that strategy, untilshe either wins a game or runs out of money.(a) Create a table for n = 1, 2, ..., 10 which lists: (a) The amount of money she puts in in game n;(b) the sum of the amount of money she has put in in all games up to this game n; and (c)her overall profit if the game n is the first game she wins.(b) What is the likelihood of her loosing 8 games in a row?(c) How many games can she loose in a row before she cannot afford to continue with herstrategy of doubling her bet?(d) Given the low likelihood of loosing, is this a smart strategy for Karen to pursue?
O Suppose goa twice Aisume mixed stratojes (ran domi zing among the three artions) do jou hawe? and I play the game reck- -paper-scissor are not albuad. How
15
FoisPas, a French restaurant in Westwood, has decided to increase the price of its Sunday brunch from $30 to $34. Following this price increase, the number of reservations on a typical Sunday dropped from 60 to 55. Which statement is correct? O FoisPas was initially maximizing revenues, as demand was unit-elastic at the initial price O The total costs faced of FoisPas on a typical Sunday must have increased for sure O The price increase led to a decrease in total revenues as demand was elastic at the initial price O FoisPas faces a horizontal demand curve O The price increase had a positive impact on total revenue as demand was inelastic at the initial price
4 90 80 70 60 50 40 30 20 10 A O $50. BO $40. Refer to the Figure. The value of the good to consumers minus the cost of the good to consumers amounts to $120 if the price of the good is CO $65. 6 DO $60. Demand Q
Please solve 9 ,10 and 11
QUESTION 14 28 24 20 16 12 8 4 O P 048 S1 b) $4 c) $8 d) $10 O e) $12 D1 12 16 20 24 Q 14. The maximum that buyers are willing to pay for the 16-th unit of this product is O a) $2
It is less important for firms that sell commodities to have a competitive advantage. O a. True, a competitive advantage is not useful for commodity firms because they are usually a monopoly with no competitors O b. True, the most important factor for commodity firms is lower prices O c. False O d. True, the most important factor for commodity firms is lower costs O e. True, the most important factors for commodity firms are both lower costs and lower prices

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O \lour margunel benetit trom eahing Candy bous is Shoon in the teible bela #Candy Bars Marginal Benetel 2 3. あ2 4 i which Core principle is represented in this Seenario? lo0 ts 4 the price o7 a Candy bar s $3 many has Should you buy? @@plonation.