Principles Of Economics, Ap Edition, 9781337292603, 1337292605, 2018
8th Edition
ISBN: 9781337292603
Author: Mankiw
Publisher: Cengage Learning (2018)
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Question
Chapter 18, Problem 3PA
Subpart (a):
To determine
Calculate marginal product of labor.
Subpart (b):
To determine
Calculate value of marginal product of labor.
Subpart (c):
To determine
Demand and equilibrium price of an apple.
Subpart (d):
To determine
Demand and equilibrium price of an apple.
Subpart (e):
To determine
Demand and equilibrium price of an apple.
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Students have asked these similar questions
Which of the following is the best example of perfect price discrimination?
A. Universities give entry scholarships to poorer students.
B. Students pay lower prices at the local theatre.
○ C. A hotel charges for its rooms according to the number of days left before the check-in date.
○ D. People who collect the mail coupons get discounts at the local food store.
○ E. An airline offers a discount to students.
Consider the figure at the right. The profit of
the single-price monopolist
OA. is shown by area D+H+I+F+A.
B. is shown by area A+I+F.
OC. is shown by area D + H.
○ D. is zero.
○ E. cannot be calculated or shown with just the
information given in the graph.
(C)
Price ($)
B
C
D
H
FIG
шо
E
MC
ATC
A
MR
D = AR
Quantity
Consider the figure. A perfectly price-discriminating
monopolist will produce
○ A. 162 units and charge a price equal to $69.
○ B. 356 units and charge a price equal to $52 for the
last unit sold only.
OC. 162 units and charge a price equal to $52.
OD. 356 units and charge a price equal to the
perfectly competitive price.
Dollars per Unit
$69
$52
MR
162 356
Output
MC
D
Chapter 18 Solutions
Principles Of Economics, Ap Edition, 9781337292603, 1337292605, 2018
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