Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 6, Problem 22SQ
To determine
The marginal cost of the fourth unit.
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At Yennefer's current production level, a extra bunch of herbs adds 24 extra spells. Each bunch of herbs costs $61. What is Yennefer's Marginal Cost of an extra spell?
1. How does fixed cost affect marginal cost? Why is this relationship important?
2. Is it possible for total utility to increase while marginal utility diminishes? Explain.
3. Define economies of scale and explain why they might arise. Define disecononies of scale and explain why they might arise.
pamela sells 10 bottles of olive oil per week at $5 per bottle. she can sell 11 bottle per week if she lowers the price to $4.50 per bottle. the output effect would be
A. $4.95
B.$50
C.$4.50
D. $45
Chapter 6 Solutions
Survey Of Economics
Ch. 6.5 - Prob. 1YTECh. 6 - Prob. 1SQPCh. 6 - Prob. 2SQPCh. 6 - Prob. 3SQPCh. 6 - Prob. 4SQPCh. 6 - Prob. 5SQPCh. 6 - Prob. 6SQPCh. 6 - Prob. 7SQPCh. 6 - Prob. 8SQPCh. 6 - Prob. 9SQP
Ch. 6 - Prob. 10SQPCh. 6 - Prob. 11SQPCh. 6 - Prob. 1SQCh. 6 - Prob. 2SQCh. 6 - Prob. 3SQCh. 6 - Prob. 4SQCh. 6 - Prob. 5SQCh. 6 - Prob. 6SQCh. 6 - Prob. 7SQCh. 6 - Prob. 8SQCh. 6 - Prob. 9SQCh. 6 - Prob. 10SQCh. 6 - Prob. 11SQCh. 6 - Prob. 12SQCh. 6 - Prob. 13SQCh. 6 - Prob. 14SQCh. 6 - Prob. 15SQCh. 6 - Prob. 16SQCh. 6 - Prob. 17SQCh. 6 - Prob. 18SQCh. 6 - Prob. 19SQCh. 6 - Prob. 20SQCh. 6 - Prob. 21SQCh. 6 - Prob. 22SQCh. 6 - Prob. 23SQCh. 6 - Prob. 24SQCh. 6 - Prob. 25SQ
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- At Stacy's current production level, an extra bunch of hats adds 20 extra scarves. Each bunch of hats costs $53. What is Stacy's Marginal Cost of an extra scarf?arrow_forwarda. When three pens and four erasers were purchased, the cost was $21.25. When two pens and two erasers were purchased, the cost was $12.50. What was the the price of a pen and the price of an earaser? b. Solve y = x2 +1 and 2y = 3x + 4arrow_forwarda. When three pens and four erasers were purchased,the cost was $21.25.When two pens and two erasers were purchased,the cost was $12.50.What was the the price of a pen and the price of an earaser? b.Solve y=x2+1 and 2y=3x+4arrow_forward
- At Yennefer's current production level, a extra bunch of herbs adds 19 extra spells. Each bunch ofherbs costs $54. What is Yennefer's Marginal Cost of an extra spell?arrow_forwardMrs. Beatty buys sketchbooks and puzzles. Each sketchbook costs $1, and each puzzle costs $3. Which ordered pair represents the cost of 3 sketchbooks as the x-value and the cost of 3 puzzles as the y-value?arrow_forward30. What happen when you add Total Fix Cost and Total Variable cost that is divided by their quantity. a. the assumption is that goods were produce but yet to be priced b. the assumption is that goods were produce but yet to be equalized c. the assumption is that goods were produce but yet to be quantified d. the assumption is that goods were produce but yet to be determinedarrow_forward
- when samsung reallocates its resources to produce 3.75 million tablets instead of 2 million tablets the opporunity cost a. 1.75 million tablet b 1.75 million phone c. 7 million phone d.7 million tabletarrow_forwardPeople will consistently sit through terrible movies at the theater instead of leaving early. This behavior makes no sense because it implies people are: O ignoring sunk costs, which is irrational. focusing on sunk costs, instead of thinking at the margin. thinking at the margin, instead of focusing on sunk costs. not thinking at the margin, which is rational.arrow_forwardAt Stacy's current production level, an extra bunch of scarves adds 20 extra hats. Each bunch of scarves costs $53. What is Stacy's Marginal Cost of an extra hat?arrow_forward
- You run a business producing t-shirts. This month your total cost of production is $80,000, your variable cost of production is $50,000, and you produce 10,000 t-shirts. It follows that average cost is a. variable: $2 b. total; $10 c. fixed; $3. d. total; $13arrow_forwardThe cost curve for producing widgets passes through the following points and is piecewise linear in between. Solve, d. What is the incremental cost of producing the 100th widget? e. What is the incremental cost of producing the 500th widget?arrow_forwardX and Y are factors of production. X's marginal product is 30 and Y's marginal product is 20. X=5 dollars for each unit, Y= 4 dollars for each unit. Since Y costs less than X, can the firm keep produce the same output at a cheaper cost by using less of X and more of Y? Explain why or why not.arrow_forward
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