Economics 108 Homework #6 CHAPTER 15 Assignment……………………
1. Which of the next circumstances may aect the worth of a hamburger at Waldoslunch counter?a) The value of meat goes up.b) A brand new restaurant tax of 50 cents per hamburger is imposed.c) Waldo is found to be in violation of a security code, and the violation would beprohibitively costly to appropriate. In consequence, Waldo is for certain to incur a ne of$500 yearly any more.d) A brand new restaurant tax of $500 per yr per restaurant is imposed.e) Phrase will get round that a variety of Waldos clients have been having stomachproblems recently.2. A well-known ballplayer for the Chicago Cubs threatens to stop until his wage is doubled,and the administration accedes to his demand.a) True or False: The followers must pay for this by means of greater ticket costs.b) If the Cubs additionally rent a well-known and in style participant from one other ballclub, whathappens to ticket costs?three. A monopolist faces the next demand and variable value schedules:DemandQuantity Price1$2021931841751661571481391210111110128VariableCost$259142027354454657790The monopolists xed prices are $10. Create a chart with columns for Whole Income,Marginal Income, Mounted Price, Variable Price, Whole Price, Marginal Price, and Prot.What amount does the rm produce? What worth does it cost?four. The Taos Pueblo is an historical American Indian group that admits vacationers. Theadmission payment is $5 per individual plus $5 per digicam. Of the next potential explanationsfor this pricing coverage, which one(s) would rely as worth discrimination?a) Vacationers with cameras usually tend to be intrusive, poking into peoples privateresidences.b) Vacationers with cameras are more likely to keep longer.c) Vacationers with cameras are usually extra smitten by visiting the reservation.d) Vacationers with cameras are much less seemingly to purchase postcards offered by the reservation.