zmGIGIIG IGe.com/static/nb/ui/evo/index.html?deploymentid=5981412282275864594790208&elSBN 9780357133576&snapshotid=3793204&id=19835399... ☆CENGAGE MINDTAP37,0273EPRICE (Dollars per roll)6.005.505.004.50Homework (Ch 07)Suppose the market for cinnamon rolls is perfectly competitive, so sellers take the market price as given. Yakov manages a bakery that offerscinnamon rolls for sale. The following graph plots Yakov's weekly supply curve (orange line). Point A represents a point along his supply curve. Theprice of cinnamon rolls is $2.50 per roll, which is given by the black horizontal line.4.00zm3.503.002.502.00с1.501.000.500zmPriceSupply0. 244RYakov's Weekly Supply6. 8 10 12 14 16 18QUANTITY (Rolls)FER26zm5TG Search or type URLBb | 90x20 22 24Under the Influence D*♫ stv N/A77☆A?F8IamazonOD music+T8Q Search this .com/static/nb/ui/evo/index.html?deploymentid=5981412282275864594790208&elSBN 9780357133576&snapshotid=3793204&id=19835399..CENGAGE MINDTAPHomework (Ch 07)Using the previous graph, you can determine that Yakov is willing to supply his 2nd weekly roll for $producer surplus earned from supplying the 2nd roll is $Suppose the price of cinnamon rolls were to rise to $3.00 per roll. At this higher price, Yakov would receive a producer surplus of $the 2nd roll he sells.The following graph plots the weekly market supply curve (orange line) for cinnamon rolls in a hypothetical small economy.PRICE (Dollars per roll)6.005.50Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of cinnamon rolls is $2.50 per roll.Then, use the green point (triangle symbol) to shade the area representing additional producer surplus when the price rises to $3.00 per roll.5.004.504.003.503.002.502.00CEDP=$3.00P=$2.50Supply4Small Economy's Weekly SupplyFi26Ⓡ tv SllG Search or type URLT6YYInitial PS (P=$2.50)Additional PS (P=$3.00)g&77W$8GIG COSince he receives $2.50 per roll, the- 99Q Search tfrom

Producers surplus is the difference between the actual market price and the minimum amount a…

Using the previous graph, you can determine that Yakov is willing to supply his 2nd weekly roll for producer surplus earned from supplying the 2nd roll is $ Suppose the price of cinnamon rolls were to rise to $3.00 per roll. At this higher price, Yakov would receive a producer surplus of $ the 2nd roll he sells. The following graph plots the weekly market supply curve (orange line) for cinnamon rolls in a hypothetical small economy. PRICE (Dollars per roll) Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of cinnamon rolls is $2.50 per roll. Then, use the green point (triangle symbol) to shade the area representing additional producer surplus when the price rises to $3.00 per roll. ? 6.00 5.50 5.00 4.50 + 3.50 3.00 2.50 2.00 P=$3.00 P=$2.50 Supply Small Economy's Weekly Supply Since he receives $2.50 per roll, the Initial PS (P=$2.50) A Additional PS (P=$3.00) from

Using the previous graph, you can determine that Yakov is willing to supply his 2nd weekly roll for producer surplus earned from supplying the 2nd roll is $ Suppose the price of cinnamon rolls were to rise to $3.00 per roll. At this higher price, Yakov would receive a producer surplus of $ the 2nd roll he sells. The following graph plots the weekly market supply curve (orange line) for cinnamon rolls in a hypothetical small economy. PRICE (Dollars per roll) Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of cinnamon rolls is $2.50 per roll. Then, use the green point (triangle symbol) to shade the area representing additional producer surplus when the price rises to $3.00 per roll. ? 6.00 5.50 5.00 4.50 + 3.50 3.00 2.50 2.00 P=$3.00 P=$2.50 Supply Small Economy's Weekly Supply Since he receives $2.50 per roll, the Initial PS (P=$2.50) A Additional PS (P=$3.00) from

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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