Economics For Today
10th Edition
ISBN: 9781337670654
Author: Tucker
Publisher: Cengage
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Chapter 9.4, Problem 1YTE
To determine
Graphical illustration of the
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Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.
Note: You will not be graded on any changes made to this graph.
PRICE (Dollars per scooter)
TOTAL REVENUE (Dollars)
195
180
165
910
150
1130
800
1020
090
135
580
120
470
105
360
On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90,
$105, and $120 per scooter.
250
75
140
60
45
30
15
0
Demand
03 6 9 12 15 18 21 24 27 30 33 36 39
QUANTITY (Scooters)
0 15 30 45
Total Revenue
60 75 90 105 120 125 150 165 180 195
PRICE (Dollars per scooter)
A
Total Revenue
?
(?)
According to the midpoint method, the price elasticity of demand between points A and B is approximately
Suppose the price of scooters is currently $30 per scooter, shown as point B on the initial graph. Because the demand between points A and B is
in total revenue per week.
a $15-per-scooter increase in price will lead to
In general,…
Use the accompanying graphs below to answer the questions about the market for apples current generation iPhone
In 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If
someone buys a season pass, he can ski as many days as he wishes. The table below provides
information on the prices and the number of passes sold in 2018 and 2019.
Type of Pass
One day
Season
Price in 2018
x 34000
$60
$1,200
Number of Passes
Sold in 2018
5,000
250
Price in 2019
$80
$1,400
Given the information in the table, we know that the revenue earned from selling day passes
changed by $ 52000
, and the revenue earned from selling season passes changed by $
Number of Passes
Sold in 2019
3,100
190
From the answers to Part 1, we know that the demand for day passes is elastic
demand for season passes is inelastic
and the
Chapter 9 Solutions
Economics For Today
Ch. 9.1 - Prob. 1GECh. 9.1 - Prob. 2GECh. 9.2 - Prob. 1YTECh. 9.4 - Prob. 1YTECh. 9 - Prob. 1SQPCh. 9 - Prob. 2SQPCh. 9 - Prob. 3SQPCh. 9 - Prob. 4SQPCh. 9 - Prob. 5SQPCh. 9 - Prob. 6SQP
Ch. 9 - Prob. 7SQPCh. 9 - Prob. 8SQPCh. 9 - Prob. 9SQPCh. 9 - Prob. 10SQPCh. 9 - Prob. 11SQPCh. 9 - Prob. 12SQPCh. 9 - Prob. 13SQPCh. 9 - Prob. 1SQCh. 9 - Prob. 2SQCh. 9 - Prob. 3SQCh. 9 - Prob. 4SQCh. 9 - Prob. 5SQCh. 9 - Prob. 6SQCh. 9 - Prob. 7SQCh. 9 - Prob. 8SQCh. 9 - Prob. 9SQCh. 9 - Prob. 10SQCh. 9 - Prob. 11SQCh. 9 - Prob. 12SQCh. 9 - Prob. 13SQCh. 9 - Prob. 14SQCh. 9 - Prob. 15SQCh. 9 - Prob. 16SQCh. 9 - Prob. 17SQCh. 9 - Prob. 18SQCh. 9 - Prob. 19SQCh. 9 - Prob. 20SQ
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