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41. Kama gets 180 total utils from taking three yoga classes this month. The additional utility derived from taking a fourth yoga class this month is 40 utils. Which of the following statements would be TRUE? A) The total utility from taking four yoga classes will be 140 utils. B) The marginal utility from the ?fth yoga class will be greater than 40 utils but less than 220 utils. C) The marginal utility of the third yoga class will be greater than 40 utils. D) The marginal utility from the second yoga class will be less than 40 utils.

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Consider the following situation: a person sells fishes by the seashore, assuming that he is a monopolist, and that there is no cost of production of output. The inverse demand curve for his fishes s is given by: p( s ) = 10 -s. Plus, assume that he can always choose to throw fishes back in the ocean: he cannot choose to store fishes, aiming to sell them another day. Say that, one day, 6 fishes gotten for him. In this case, what is his optimal quantity to sell, and what is the price at which he sells his fishes?

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What are the characteristics of a "tragedy of the commons"? Can the emission of greenhouse gases (causing global warming) be framed as a tragedy of the commons? Why (not)? Explain how the characteristics of a "tragedy" are, or are not, met when it comes to global warming.

Need step by step on how to solve. please help Scenario 5-2 Suppose the demand function for good X is given by:Qdx=15-0.5Px-0.8Py where Qdx is the quantity demanded of good X, Px is the price of good X, and Py is the price of good Y, which is related to good X. Refer to Scenario 5-2. Using the midpoint method, if the price of good X is constant at $10 and the price of good Y decreases from $10 to $8, the cross price elasticity of demand is about Selected Answer: c. -2.57, and X and Y are complements. Answers: a. -0.80, and X and Y are complements. b. -0.22, and X and Y are complements. c. -2.57, and X and Y are complements. d. 0.57, and X and Y are substitutes.

28. Suppose there are ten firms in the wiffleball market, in which the market demand elasticity is -1.1. The elasticity of supply is .9. A single firm in this industry decides that, because there are only 9 competitors, it might be a good idea to increase prices by 1%. Calculate the residual demand elasticity facing a single firm. 29. The price elasticity of demand for umbrella in Drytown is -3, and in Wettown the elasticity is 1.5. A single firm supplies the umbrellas in both towns. If the marginal cost per umbrella is $2.00, how much should the firm charge for umbrellas in Drytown and in Wettown? 30. A monopolist faces two separate demand curves: P1 = 150 - 5Ql, and P2 = 90 - 2Q2. The firm's marginal cost is constant at 50. Find Q1, Q2, P1, P2.

Many people are concerned about the rising price of gasoline. Suppose that government officials are thinking of capping the price of gasoline below its current price. Which of the following outcomes do you predict will result from this policy? Instructions:You may select more than one answer. Click the box with a check mark for correct answers and click to empty the for the wrong answers. Drivers will purchase more gasoline. Quantity demanded for gasoline will increase. Long lines will develop at gas stations. Oil companies will work to increase their pumping capacity.

3.If two companies are seeking regulatory approval to merge their respective businesses, which of the following will most likely NOT be the focus of the arguments that they will present in favor of the merger? Consumers can purchase better quality goods or services at a lower price. the newly created firm will have a greater market share The newly created firm is able to take advantage of economies of scale. The newly created firm will benefit consumers by operating more efficiently. 4.why does a monopoly face a down sloping demand? because it will have the same number of buyers at each price a monopoly actually faces an upward sloping demand since it can charge any price it wants since it controls the market it faces a market demand

Which of the following is a side effect of enforcing property rights? aDecreasing the risks of real estate ownershipbIncreasing the use of bankscMaking investors less likely to take risks

This is microeconomics. Please write graphs and explanation. Suppose the monopolistically competitive barber shop industry in a community is in long-run equilibrium, and that the typical price is $20 per haircut. Moreover, the population is rising. Illustrate the short-run effects of a change on the price and output of a typical firm in the market. Show what happens in the long run. Will the final price be higher than $20? Equal $20? Be less than $20? Assume that nothing happens to the cost of producing haircuts. Suppose that, initially, the price of a typical children's haircut is $10. Do you think this represents price discrimination? Why or why not? Consider the same industry as in Problem 1. Suppose the market is in long-run equilibrium and that an annual license fee is imposed on barber shops. Illustrate the short-run effects of the change on the price and output of haircuts for a typical firm in the community. Now show what happens to price and output for a typical firm in the long run. Who pays the fee in the long run? How does this compare to the conclusions of the model of perfect competition?

if demand is perfectly inelastic the absolute value of the price elasticity of demand is 0, less than 1,more than 1 or equal to the absolute value of the slope of the demand curve

How does a pollution tax cause consumers to help reduce pollution?

"Pollution should be completely eliminated." Do you agree with this statement? Why or why not.? Post your comments.

82. The advantage to selling pollution permits rather than using a fixed percent reduction for all firms is A. government raises additional revenue. B. reductions in pollution are accomplished by those firms that can do so at least cost. C. enforcement costs are eliminated. D. pollution is driven to zero.

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