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A: Output FC VC TC MC AFC AVC ATC 1 180 12 192 12 180 12 192 2 180 20 200 8 90 10 100 3 180 27…
![Table 1: Market for Skis
P
0
20
40
60
80
Qd
25
20
15
10
5
100 0
Qs
0
4
8
12
16
20](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5001696-9a28-4637-9c10-f396cdab1a41%2Fbe96f01b-85a0-4592-b3b8-08f1a2eebb70%2F3zhrpp_processed.png&w=3840&q=75)
![Part 2: Again consider the market for skis.
a. What is the consumer surplus? Explain what this number means.
b.
What is the producer surplus? Explain what this number means.
What is the total surplus? Explain what this number means.
C.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5001696-9a28-4637-9c10-f396cdab1a41%2Fbe96f01b-85a0-4592-b3b8-08f1a2eebb70%2F0bdfkic_processed.png&w=3840&q=75)
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- HW (Ch 13) The following scenario examines the relationship between marginal and average values. Suppose Nalah is a high school basketball player. The following table presents their game-by-game results for foul shots. Fill in the columns with Nalah's foul-shooting percentage for each game and their overall foul-shooting average after each game. Game Foul-Shooting Percentage Average Foul-Shooting Percentage 80 Game 1 CENTAGE 2 345 -100 90 On the following graph, use the orange points (square symbol) to plot Nalah's foul-shooting percentage for each game individually, and use the green points (triangle symbol) to plot Nalah's overall average foul-shooting percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 80 70 Game Result 60 4/5 2/5 1/4 1/2 4/4 Total 4/5 6/10 7/14 8/16 12/20 43. 80 Game Foul-Shooting Percentage Average Foul-Shooting Percentage ?Complete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- --- (2) (3) 179 (4) (5) (6) (8) (9) (10) (11) 30 (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25) (7) m (12) (13)6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Houston. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bike) 300 275 ) 250 225 175 150 125 100 75 50 25 0 0 + 6 12 18 24 30 36 42 48 QUANTITY (B) Demand 54 60 66 72 Total Revenue
- Text Entry Copy and paste or type your submission right here. HTML Editor В I A - I E E 3 E E X' X, =三 用▼ 12pt Paragraph Quantity Total Costs 20 10 1 30 12 2 42 13 55 20 4 75 25 100 30 16 ||130 128 words MacBook Pro 国 3.Don't answer by pen paper and don't use chatgpt otherwise we will give dounvoteThe owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Total Revenue 60 70 80 Price per Skater $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? O The revenue increases. O The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) = (d) Find the number of skaters that will maximize the revenue. skaters (e) Find the maximum revenue. $ (f) When the revenue is at the maximum possible, what price is paid per skater? $
- PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Lakes's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Mountaineer (Dollars per night) 350 150 50 100 200 ? For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Lakes is charging $350 per room per night. If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Lakes rooms per night to rooms per night. Therefore, the income elasticity of demand is from , meaning that hotel rooms at the Lakes are If the price of an airline ticket from DSM to ACY were to increase by 50%, from $100 to $150 roundtrip, while all other demand factors remain at their initial values,…Now summarize your results. Enter values for each of the following prices: 19) Profit maximizing price. 20) Socially best price. 21) Price where profit is zero.I need help with question 4 5 and 6
- PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…AutoSave W- q5 micro OFF Home Insert Draw Design Layout References Mailings Review View Share O Comments Calibri (Bod... v 11 A^ A Аa v AaBbCcDdE AaBbCcDdEe AaBb( AaBbCcDc AaBbCcDdE€ AqBbCcDdEe > Paste A A No Spacing Subtle Emph... Styles Pane Sensitivity v ab X, Subtitle U Normal Heading 1 Heading 2 Title * Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates Consider a monopolist that produces coal for energy, with demand curve defined by P = 190 – 20 and marginal cost given by MC = 10 + 2Q. Also, the firm's average total cost is ATC = 100/Q + Q+ 10. (Price and costs are in dollars per tonne of coal, while quantity is in thousands of tonnes.) Calculate the monopolisť's profit-maximizing quantity, price, and profit. For a monopoly, profit maximization occurs where the marginal revenue equals the marginal cost. a. b. What would be the competitive output and price if this monopolist operated as a competitive firm?…FC VC TC MC AFC AVC ATC 1. 160 65 3 10 20 55 4 28
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