Survivor 1 & Survivor 2 are lost in the Woods. The Quantities of Good A & Good B are in Fixed Supply. The Edgeworth Box below shows all the possible allocations of these 2 Goods & can be used to answer the following Questions: For each statement below, note whether the Statement is True or False & Why? Good B Survivor 2 B Good A c) Point A is less efficient than Point B. True or False? Survivor 1 d) If Survivor 2 has more of Good A than Survivor 1, then Survivor 1 prefers Point A to Point B. True or False?
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- PRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate some14. Ii an increase in the price ofpetre) ficseases the damand fon fulelent, hybrid cars, then 2. Hybrid cars are an inferior good. b. Petrol and hybrid ca1S are complements in conSumplioa. C. Petrol is an inferios good. (C) Petrol and hybrid cari ard subatitutenin boasumption) Th 64 y.The figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes consumer confidence. Move the supply and/or demand curves to reflect the primary effect this would have on the market for online music. You can assume that online music is a normal good. Also select the end result of equilibrium price and quantity. Equilibrium price increases. O remains constant. Equilibrium quantity increases. remains constant. decreases. O change is ambigous. decreases. change is ambiguous. Price (5 per track) Quantity (number of tracks) Supply Demand
- If the price of a pie is 12, what is the maximum number of pies she could buy in a week?Does a firm have the riight to "create" wants and try to persuade consumers to buy goods and services they didn't know about earlier? 'What are examples of "good" and "bad" want creation? Who should decide what is good and what is bad?QUESTION 3 1 points Save Answ If the demand for commodity X is represented by the equation P = 100- 2Q and supply by the equation P = 10 + 4Q. When the price equals to S 10, do we have shortage or surplus or equilibrium? By how much if any? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). %3D BIUS Paragraph E vE v A v . Arial 、工 启Q 14px
- 8 3 & 4) . Due in 2 days HW3_11 Homework Answered ||| Put in order from most price sensitive (first) to least price sensitive (last) in terms of elasticity of demand. Drag and drop options into correct order and submit. For keyboard navigation... SHOW MORE ✓ E Medical care: -0.17 M ||| SAM SAM - Project Assignment Submission III app.tophat.com Answered Tobacco: -0.45 Restaurant Meals: -1.6 17/17 answered Leisure travel: -2.4 HW3_12 Homework Answered 10am_Fall22_Microecon_ Kris' Kabobs: Kris decides to drop the price of his famous Kabobs from $3 to $2. Last week at $3 he sold 240 and this week at $2 he sold We can use this information to determine the elasticity of demand for the Kabobs. Do that! (correct sign and 2 decimal places in your answer)Suppose X is an inferior good and the price of X rises Select one: O a The IE will be larger than the SE. O b. The SE will be a decrease in X. O c. You will buy more X as its price rises. O d The IE wilI be a decrease in X.AaBbCcI AaBbCcI AaBbC = 三 T Normal T No Spac... Heading 1 Paragraph Finding the market price Consider the marketdemandand supply schedulesfor chocdlate bars Possible price of chocolate bars(pence) 50 Quantity dem andedper Quantity supplied m onth 100 000 150 000 per m onth 420 000 40 300 000 30 200 000 260 000 330000 200 000 120 000 60 000 20 10 400 000 40 000 On graphpaper plot the dem and and supply curvesfor chocolate bars on one graphwit "price per chocolate bar on the vertical axis and quantity per m orth' alongthe bottom 1. Using the above table state at which price dem andequals gupnl.. This will be the m arketpricefor chocolate barsbecause at that price producers are willi make and selljust asm anybars asconsuners are willing to byy,
- 1. For given prices ps and pg, and income I. Tom’s Marshallian demands for salad andgreen juices are...Dtermine the implications of market pricing on the following when making economic decisions. Abswer in no more than five sentences: 1. Buyer/consumer 2. Seller/producer/supplierFigure 2-16 caps of coffee per day Avans with at sery Refer to Figure 2-16. Taking cause and effect into account, which of the following interpretations would be most reasonable regarding the relationship between coffee and hours without sleep? O The less coffee a person drinks per day, the more time he can go without sleep. There is no relationship between how much coffee per day a person drinks and how long he can go without sleep. The more coffee a person drinks per day, the more time he can go without sleep. O The more coffee a person drinks per day, the less time he can go without sleep.