Suppose the price of a good is $179. The first customer is willing to pay $200, the second customer is willing to pay $210, and the third customer is willing to pay $300. How much consumer surplus is there in this market

The leading producer of cell phone backup batteries, jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as jumpstart. also, in general, the price of backup batteries has declined because of economies of scale and learning. in addition, jumpstart has added complementary assets, such as a carrying case. considering all of these factors, the backup battery industry is most likely in the introduction stage. growth stage. shakeout stage. maturity stage.

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x,y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.

One of the benefits of a well designed ergonomic work environment is low operating costs is true or false