Suppose that Boris is a price taker and the price for each concert is $35. For Boris to maximise his total net benefit (total benefit – total cost), how many concerts will he attend? Draw Boris' individual demand curve to help you find the answer. Note: if Boris is indifferent between attending and not attending a concert, please assume that he attends it to break the tie. The optimal number of concerts that Boris will attend is:
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Suppose that Boris is a price taker and the price for each concert is $35. For Boris to maximise his total net benefit (total benefit – total cost), how many concerts will he attend? Draw Boris' individual demand curve to help you find the answer.
Note: if Boris is indifferent between attending and not attending a concert, please assume that he attends it to break the tie.
The optimal number of concerts that Boris will attend is:
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- Alda is willing to pay $2,000 to visit her favoritecousin over spring break. A month ago, she bookeda trip costing $1,200. Spring break has arrived, butAlda needs one day to finish an important paperbefore she goes. Alda could cancel her trip and geta refund of $800. Or, she could pay an additional$1,000 (on top of the $1,200 she already paid) torebook the trip for two days later. Explain whatAlda should do.Mega Partner is selling two products Marker(m) and Eraser(e) and their budget is given with thefollowing equation: 15Qe+ 30Qm= 3000. Now answer the following questions. I. Draw the budget line for Mega PartnerII. What would be the highest amount spend on Marker with the existing budgetIII. If Total budget increases to 4500 what would be the new budget line (use diagram)IV. If Price of the Marker becomes 15, how this changes the existing budget line keeping allthe values remain same.Answer the question based on the following graph. Which of the following statements is entirely correct? Tom's monthly budget constraint 40 •D E nts 20 Number of hamburgers per month O Point E is unattainable and Point D is inefficient. O Both point D and E are unattainable. O Point E is inefficient and Point D is unattainable. O Point A is inefficient and Point E is unattainable. « Previous Next Number of hot dogs per month
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