Part 1 Write down the total water use for each district. Make sure to include the units and be mindful of the scale in the horizontal axis. Part 2 Calculate the total revenue for each water district. Show all your work and clearly identify the final answer for each district by drawing a box around the answer and writing the Water District number. In making the calculation, make sure to identify the revenue for each crop so that the sum for the water district is clear. Attach an additional piece of paper (after this page) if you need more space to show the calculations. Be mindful of the scale of the water axis to get the correct dollar values. Part 3 Interpret the marginal revenue value for the highest value crop in Water District 1 and Water District 2. Note that we are NOT yet talking about any cutback situation.

Part 1 Write down the total water use for each district. Make sure to include the units and be mindful of the scale in the horizontal axis. Part 2 Calculate the total revenue for each water district. Show all your work and clearly identify the final answer for each district by drawing a box around the answer and writing the Water District number. In making the calculation, make sure to identify the revenue for each crop so that the sum for the water district is clear. Attach an additional piece of paper (after this page) if you need more space to show the calculations. Be mindful of the scale of the water axis to get the correct dollar values. Part 3 Interpret the marginal revenue value for the highest value crop in Water District 1 and Water District 2. Note that we are NOT yet talking about any cutback situation.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.

Question

Problem 2: please show work

Part 1
Write down the total water use for each district. Make sure to include the units and be mindful
of the scale in the horizontal axis.
Part 2
Calculate the total revenue for each water district. Show all your work and clearly identify the
final answer for each district by drawing a box around the answer and writing the Water District
number. In making the calculation, make sure to identify the revenue for each crop so that the
sum for the water district is clear. Attach an additional piece of paper (after this page) if you
need more space to show the calculations. Be mindful of the scale of the water axis to get the
correct dollar values.
Part 3
Interpret the marginal revenue value for the highest value crop in Water District 1 and Water
District 2. Note that we are NOT yet talking about any cutback situation.

Revenue/AF
1000
600
500
900
800
700
400
300
200
100
0
of
4000
1000
3500
2000
1500
3000
2500
500
0
Peaches
10
Tomatoes
10
20 30
20
Water District 1
Almonds
40
30
Cumulative Water Usage (000 AF)
40
Water District 2
Onions
60
50
Cumulative Water Usage (000 AF)
70
Wheat
50
Cotton
60
Irrigated
Pasture
100
70
110

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