The table below shows Tom's demand schedule for web tutoring before and after winning the lottery. Use the data provided to answer the following questions: Quantity Demanded (Hours per Semester) Price (per Initial Quantity After Increase Hour) Demanded in Income $50 1 8 45 2 9 40 3 10 35 5 12 30 25 20 15 10 7 9 12 15 20 14 16 19 22 27 Instructions: Enter your responses as a whole number. At what price would Tom buy 12 hours of web tutoring? a. Without a lottery win. per hour b. With a lottery win.
The table below shows Tom's demand schedule for web tutoring before and after winning the lottery. Use the data provided to answer the following questions: Quantity Demanded (Hours per Semester) Price (per Initial Quantity After Increase Hour) Demanded in Income $50 1 8 45 2 9 40 3 10 35 5 12 30 25 20 15 10 7 9 12 15 20 14 16 19 22 27 Instructions: Enter your responses as a whole number. At what price would Tom buy 12 hours of web tutoring? a. Without a lottery win. per hour b. With a lottery win.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![The table below shows Tom's demand schedule for web tutoring before and after winning the lottery. Use the data provided to answer
the following questions:
Quantity Demanded (Hours per Semester)
Price (per Initial Quantity After Increase
Hour) Demanded in Income
$50
1
8
45
2
9
40
3
10
35
5
12
30
7
14
25
9
16
20
19
22
15
10
27
12 15 20
Instructions: Enter your responses as a whole number.
At what price would Tom buy 12 hours of web tutoring?
a. Without a lottery win.
per hour
b. With a lottery win.
per hour](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb11155a1-ccdc-4c1d-a6a9-b6860bfe0319%2Fb58b3ffa-5952-4a59-b453-274bb0bfa351%2Fdg5ewpo_processed.png&w=3840&q=75)
Transcribed Image Text:The table below shows Tom's demand schedule for web tutoring before and after winning the lottery. Use the data provided to answer
the following questions:
Quantity Demanded (Hours per Semester)
Price (per Initial Quantity After Increase
Hour) Demanded in Income
$50
1
8
45
2
9
40
3
10
35
5
12
30
7
14
25
9
16
20
19
22
15
10
27
12 15 20
Instructions: Enter your responses as a whole number.
At what price would Tom buy 12 hours of web tutoring?
a. Without a lottery win.
per hour
b. With a lottery win.
per hour
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