EBK ECONOMICS
21st Edition
ISBN: 8220106637173
Author: McConnell
Publisher: YUZU
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Question
Chapter 7, Problem 3RQ
To determine
Cause of downward slope of demand curve.
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Which of the following equations correctly represents solving Q = 140 - 4P for P?
O P 35-4Q
O P = 140 - Q
OP
140 - 4Q
OP=35-1Q
O P = 140+ Q
Plot the relationship between P and Q on the following graph.
Note: Price (P) is on the vertical axis and quantity (Q) is on the horizontal axis.
PRICE
40
35
30
25
20
15
л
10
?
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9 UTILITY CALCULATIONS
TOTAL AND MARGINAL UTILITY
Quantity
Consumed
Marginal
Utility
Total Utility
Total
Utility
70
60
50
22
40
22
30
18
20
40
10
14
3
54
2
4.
8.
Quantity Consumed
10
Marginal Utility
4
64
20
6.
10
70
1
2
3
4
6.
8.
-10
-20
Quantity Consumed
Quantity Consumed
2.
3.
6
8.
1.
3.
Louis is trying to decide what combination of cups and plates to buy. His
budget is $12. Plates cost $4 each and cups cost $2 each. The numbers in
the table represent total utility. Given his budget, which combination will
maximize total utility? number of plates and cups.
Quantity Plates Utility from Plates
1
33
2
3
4
LO
5
6
64
93
103
112
123
Quantity Cups Utility from Cups
1
15
2
3
4
5
6
27
42
54
65
75
Chapter 7 Solutions
EBK ECONOMICS
Ch. 7.1 - Prob. 1QQCh. 7.1 - Prob. 2QQCh. 7.1 - Prob. 3QQCh. 7.1 - Prob. 4QQCh. 7.A - Prob. 1ADQCh. 7.A - Prob. 2ADQCh. 7.A - Prob. 3ADQCh. 7.A - Prob. 1ARQCh. 7.A - Prob. 2ARQCh. 7.A - Prob. 1AP
Ch. 7.A - Prob. 2APCh. 7.A - Prob. 3APCh. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQCh. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 9DQCh. 7 - Prob. 10DQCh. 7 - Prob. 1RQCh. 7 - Prob. 2RQCh. 7 - Prob. 3RQCh. 7 - Prob. 4RQCh. 7 - Prob. 5RQCh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 7P
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