It is a hot day, and Bert is thirsty. Here is the value he places on each bottle of water: Value of first bottle $7, Value of second bottle $5, Value of third bottle $3, Value of fourth bottle $1
a. From this information, derive Bert’s demand schedule. Graph his demand curve for bottled water.
b. If the price of a bottle of water is $4, how many bottles does Bert buy? How much consumer surplus does Bert get from his purchases? Show Bert’s consumer surplus in your graph.
c. If the price falls to $2, how does quantity demanded change? How does Bert’s consumer surplus change? Show these changes in your graph.
Answers: 2
Business, 21.06.2019 21:30
In a macroeconomic context, what are implicit liabilities? money owed to people possessing government issued bonds. the amount of money that firms collectively owe to shareholders. money that the government has promised to pay in the future. payments that the federal government undertakes only during periods of recession. which of the choices is a significant implicit liability in the united states? military spending education spending national science foundation spending social security
Answers: 2
Business, 22.06.2019 14:30
Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.
Answers: 1
Business, 22.06.2019 23:00
You cannot make copies of media, even as a personal backup, without violating copyright. true
Answers: 3
It is a hot day, and Bert is thirsty. Here is the value he places on each bottle of water: Value of...
Arts, 18.03.2020 07:34
Mathematics, 18.03.2020 07:34
Health, 18.03.2020 07:35
Mathematics, 18.03.2020 07:36
Mathematics, 18.03.2020 07:37
Mathematics, 18.03.2020 07:38
Mathematics, 18.03.2020 07:39
Mathematics, 18.03.2020 07:39
Mathematics, 18.03.2020 07:41
History, 18.03.2020 07:41
Physics, 18.03.2020 07:42
Mathematics, 18.03.2020 07:43
Mathematics, 18.03.2020 07:44
English, 18.03.2020 07:44