ECN 212, HOMEWORK #4 – MICROECONOMIC PRINCIPLES
A number of Selection: Reply every of those questions by darkening the bubble in your scantron sheet, as if youwere taking an examination in school. Hand in solely the scantron sheet. Ensure you have darkened in your identify and 10-digit ASU Affiliate ID quantity on the scantron sheet. YOU MUST USE THE (eight 1/2 INCH BY 11 INCH)1. Which of the next is probably to trigger a rise within the demand for personalcomputers?A) A rise within the variety of laptop producers, different issues equal.B) A rise in the price of laptop paper.C) A rise within the provide of non-public computer systems, different issues equal.D) A requirement by universities that each one college students purchase private computer systems.E) A discount within the value of non-public computer systems, different issues equal.2. To reply questions 2, eight, 22, and 24, confer with Determine 10-2, from Lecture 10, which was Dr.Filer's day by day demand curve for sweet bars. Assume the value of sweet bars is $.70 every. What isthe own-price coefficient of elasticity of demand at that time on the demand curve?A) - Three/7.B) - 7/Three.C) Not sufficient info given to reply the query.D) 7/Three.E) Three/7.Use the next to reply questions Three-7:Whole Output0246810Whole Price$100$196$212$310$430$5703. Within the desk above, assume the marginal value of the fifth and sixth models are the identical. That valueisA) $98.B) $310.C) $80.D) $261.E) $49.Web page 14. Within the desk above, whole fastened prices are equal toA) $100.B) $53.C) Can't be decided from the data offered.D) $98.E) $10.5. Within the desk above, if the manufacturing of two additional models (models 11 and 12) will increase whole value by$162, thenA) the thirteenth unit must go up in value.B) the common variable value of manufacturing 11 models is $732.C) the marginal value of the twelfth unit will likely be $162.D) the entire value of manufacturing 12 models will likely be $894.E) the common whole value of manufacturing 12 models is $61.6. Within the desk above, the common fastened value of the primary unit of output isA) Can't be decided from the data given.B) $100.C) $96.D) $48.E) $98.7. Within the desk above, the common variable value of manufacturing two models of output isA) $98.B) $50.C) $96.D) $100.E) Not one of the above.eight. Assume the value of sweet bars is $.30 every. What's the own-price coefficient of elasticity ofdemand at that time on the demand curve?A) 7/Three.B) - 7/Three.C) - Three/7.D) Not sufficient info given to reply the query.E) Three/7.9. If the demand curve for product J shifts to the left as the value of product Okay will increase, thenA) items J and Okay are usually not associated.B) J and Okay are substitute items.C) J and Okay are complementary items.D) the variety of shoppers of product Okay has elevated.E) the earnings of shoppers of product Okay has elevated.Web page 2Use the next to reply questions 10-13:CombinationABCDEProduction of SwedenPounds of Chocolate02468Plates of Caviar1514128010. Confer with the desk above. If Sweden is utilizing mixture C and it needs 2 extra kilos ofchocolate, it should give upA) nothing.B) four plates of caviar.C) 6 plates of caviar.D) eight plates of caviar.E) 2 kilos of chocolate.11. In keeping with the desk above, Sweden can makeA) Three kilos of chocolate or 16 plates of caviar.B) eight kilos of chocolate and 15 plates of caviar.C) four kilos of chocolate and 12 plates of caviar.D) Each B and C.E) Each A and C.12. Confer with the desk above. The chance value of the fifth and sixth kilos of chocolate isA) Alternative value do not apply as a result of chocolate is a luxurious good.B) 12 plates of caviar.C) four plates of caviar.D) 6 plates of caviar.E) eight plates of caviar.13. In keeping with the desk above, to provide 6 kilos of chocolate and 14 kilos of caviar,A) the PPC of Sweden should shift out.B) the PPC of Sweden should shift in.C) the PPC of Sweden should not change.D) Sweden should depart some assets idle.E) None of those; Sweden won't ever be capable of produce such portions.Web page 3Use the next to reply questions 14-16:Variety of Employees012345Output per Hour0712151718Value of the Product$Three$Three$Three$Three$Three$314. In keeping with the previous desk, the marginal-revenue product of theA) first employee is $Three.B) fourth employee is $68.C) second employee is $12.D) fifth employee is $Three.E) third employee is $Three.15. In keeping with the previous desk, if the wage price is $9 per hour, what number of employees ought to thisfirm rent?A) Three.B) four.C) 5.D) 1.E) 2.16. In keeping with the previous desk, if the wage price is $6 per hour, what number of employees ought to thisfirm rent?A) 2.B) 5.C) four.D) Three.E) 1.Web page 4Use the next to reply questions 17-21:Whole Income ()60Whole RevenueCurve5040302010100.3030405060AB0.25Value ()20C0.20D0.15E0.10F0.051020304050DemandCurve60Amount17. Within the determine above, rising the value of the product by $.05 when the present value is $.15wouldA) lower whole income.B) depart whole income unchanged.C) improve whole income.D) improve demand for the product.E) lower the amount demanded to 40.18. Within the determine above, if the producer will increase value throughout the part of the demand curve fromD to F,A) whole income will likely be $30.B) there will likely be a lower in revenue.C) there will likely be no change in amount demanded.D) there will likely be a rise in demand.E) there will likely be a rise in whole income.19. Within the determine above, the part of the demand curve from D to F isA) the superbly inelastic vary of the demand curve.Web page 5B)C)D)E)the elastic vary of the demand curve.the inelastic vary of the demand curve.the superbly elastic vary of the demand curve.the unit-elastic a part of the demand curve.20. Within the determine above, which part of the demand curve has an elasticity of demand larger than1?A) D to F.B) A to C.C) C to F.D) A to D.E) C to D.21. Confer with the determine above. If the producer's value at present corresponds with the elastic part ofthe demand curve, how might the producer improve whole income?A) Improve value, however not above level D.B) Improve value, however not above level C.C) Improve value, however not above level B.D) Lower value, however not beneath level D.E) Lower value, however not beneath level B.22. Assume the value of sweet bars is $.10 every. How a lot is Dr. Filer's client surplus eachday, from consuming sweet bars?A) $Three.70.B) $5.00.C) $four.60.D) $four.90.E) $Three.60.23. If a value improve from $20 to $40 causes amount demanded to lower from 100 models to 50models, one can conclude that demand for the product isA) unit-elastic.B) completely inelastic.C) infinitely elastic.D) inelastic.E) elastic.24. Assume the value of sweet bars falls from $.70 every to $.30 every. What's the own-pricecoefficient of elasticity of demand over that value vary?A) - 7/Three.B) - 1.C) - Three/7.D) 1.E) Not one of the above.Web page 625. If a lower within the demand for product X causes the demand curve for product Y to shift to theright, then X and Y are probably to be which of the next?A) Butter and margarine.B) Vehicles and gasoline.C) Knives and forks.D) Tennis balls and tennis rackets.E) Sneakers and laces.