Bwl 55 Assignment Of Lease

Unformatted text preview: [email protected]@@@@@@@@DW InsthotorAssignabla2 Excreti- Score: 0 of 1 pt Assignment Score: 11.52% {4.03 of 35 pts) 35 til 35 com plete E Laura used to earn $20,000 ayear, selling real estate, but she now sells greeting cards. The return to entrepreneurship in the greeting cards industry is $20,000 a year. Over the year, Laura bought $9,000 worth ofoards from manufacmrers ofgreeting cards and sold these cards for $54,000. Laura rents a shop for $5,000 a year and spends $2,200 on utilities and office expenses. Laura owns a cash register, which she bought for $2,000 with funds from her savings account. The bank pays 2 percent a year on savings accounts. At the end ofthe year, Laura was offered $1,500 foil-her cash register. Laura has explicit costs of 16,200‘ dollars. Laura has implicit costs of 40,540‘ dollars. Laura‘s economic profit is —2,740‘ dollars. a» If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. Md®®@@@@@@@@bw Chaciqmintzpmblem Excreti- Score: 0 of 1 p1: Assignment Score: 11.52% {4.03 of 35 pts) 35 til 35 complete E Ann leases a farmer's field and. grows melons. She hires students to pick and pack the melons. Labor Total product {student-Bl {melons por day) The table sets out. Ann's total product schedule. 0 0 1 80 What is the marginal product of the fourth student and the 2 ‘l 80 average product of 4 students‘}' 3 300 The marginal product of the fourth student is '4 400 100‘ melons a day. 5 430 6 540 7 580 The average product of4 students is 100‘ melons a day. it» Answer to 1 decimal place. Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. ® @Q‘@@@@@@@@@DW CheckpointZTostA1 (.— Exnrelll Score: 0.5 of 1 pt Assignment Score: 11.52% {4.133 of 35 pts) 35 of 35 complete a Raj.r hires students in the summertomow lawns. Labor Total product The table sets out Ray's total product schedule. {Stud-I'll!) {MIDI Pirwk) 0 0 What is the marginal product of the fourth student and the 1 3 average product when Raj.r hires 4 students? 2 7 3 1 2 The marginal product ofthe fourth student is 4‘ lawns a 4 15 week. 5 1 Q The average product of4 students is 4 6 21 lawns a week. a» Answerto 1 decimal place. Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. ® «[email protected]@@@@@@@@@bw chapmrpmmems (.— Exlrelll Score: 13 of 1 pt Assignment Score: 11.52% {4.133 of 35 pts) 35 til 35 complete a Naomi's birdhouse t‘E'actch.r rents equipment and hires students. Labor Total _ . mom... product Natimihpgg‘tgflzgzyfortheeqmpment and $lDfladayto ”my, mum“ Mfr-II!) eac s e s. 0 0 The table shows Naomi's total product schedule. 1 2:] At what output is Naomi's average total cost at a 2 42 minimum? At what output is Naomi's average variable 3 66 cost at a minimum? 4 35 Naomi's average total cost is at aminirnuin when she produces 86‘ hirdhousesa day. Naomi's awn-age variable cost is aminimum when she produces 66‘ hirdhousesa day. Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. (3 [email protected]@@@@@@@@bw lnstmctor Assignahle 5 Elll'dll Score: 0 of 1 pt mmlfll Score: 11.52% {4.03 at 35 pts) 35 ol' 35 complete a — Victorruns aferretfiarm inAthens, Georgia Victor pays $80!] a week for equipment and $60!] a week Labor Total product to each worker-he hires. Immm thrill! PIIWIIKI 0 0 The table shows Victor's total product schedule. ‘1 300 _ 2 2,400 Victor's average‘ total cost is a minimum when he 3 71200 prothlces 7,200 ferrets. 4 3,000 Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. . ®[email protected]@®fi)@@@@@@@bw Checlmointaresm Exercis- Seerl: 0.5 of 1 pt Alumni-n! Score: 11.52% {4.03 of 35 pts) 35 of 35 complete g The graph shows the short-rim total cost curves of Poppy TOM II!“ {doliam} 3 Lipstick, a producer of lipsticks. 1 :-m Draw a point on each curve and give it the appropriate label. is. BE Choose the statement that is incorrect. (:1- A. Total variable cost includes the cost of labor. [M B. The quantities cffixed factors change as output changes, but their total cost per unit produced does not change. (:30. The vertical distance between the purple curve and the blue curve is total fixed cost; -:j:j:-D. TC= TFC + WC 0 an on Quantity {ilpetldcs per day) 3» Draw onlyr the objects specified in the question. Question is complete. 120 150 180 [email protected]@@@@@@@@bw sham-mm Eat-Idl- Seen: 0 of 1 pt WHICH. Score: 11.52% {4.03 of 35 pts) 35 of 35 complete a Pam runs a vegetable stall in the market building. Pam has no skills, no job experience, and no alternative employment. Enh'epreneurs in the vegetable stall business earn $9,000 a year. Pam pays the rent of$50l1 ayear, andhertotal revenue is $16,000 ayear. She borrowed $1,000at15 percent ayearto huy equipment At the end ofone year, Pam was ofi‘ered $900 forher business and all its equipment. Pam's explicit costs are $ 65$?I . Pam's implicit costs are 5 9,1007. Pam's economic profit in the first year is 6,2512? dollars. sis-b if your answer is negative, include a minus sign. If your answer is positive. do not include a plus sign. Question is complete. Move your pointer over or top on the red indicators to see incorrect answers. fidd‘@@@@@@@@@bw smegma-.135 f—\ Ell-relo- Score: CI of 1 pt Annulment Score: 11.52% {4.03 of 35 pts) 35 pl 35 com plate E5 — The graph shows the average variable cost curve and _ 0051 [dfiiifll'fi per candle) 3 average total cost curve for a firm that. produces candles. ‘ Draw the f'u'm‘s marginal cost curve. Label it. 7 I3- In? When the marginal cost of producing an output exceeds its average variable cost but is less than its average total cost. it A. average variable cost is increasing while average total cost is decreasing {:1- B. hoth average variable cost and average total cost are increasing .9; C. average fixed cost is increasing 1 1:} D. total variable cost is at its maximum value I D 5 10 15 2D 25 3|] Output [candles per day) at» Drew onlyr the objeets specified in the question. Question is complete. . («[email protected]@@@@@@@@DW Checlmcinl4Problem1 Elll'dll Scorn: (I of 1 pt ”ohm-n! Scam: 11.52% {4.03 of 35 pts) 35 all 35 complete a To g1owme1ons,Petra1easeslfieldfor$20adayand capital for $120 a day. She hires students at $90 a day. Output with Output with Labo 1 fl Id 2 fl Id Suppose that Petra now leases 2 fields for $40 a day and {moguls} W twice as much capital for $240 a day. 0 0 P. 0 The table shows Petra's output. 1 60 132 2 130 272 WhenPetra firms 2 fields and produces 63'? melons a day, 3 210 434 heraverage total cost is $ 1130‘ amelon. 4 310 63? 3» Answer to 2 decimal places. 5 395 810 6 IND 952 7 535 1 095 Question is complete. Move your pointer over or tap on the red indicators to see incorrect answers. «[email protected]@@@@@@@@@bw some...“ Est-relu- Scorn: (I of 1 pt Will-I'll Score: 11.52% (4.03 of 35 pts) 35 of 35 complete a ReadEye on Retailm' Costs. Then answer the Cost [dol am per customer) 3 following questions. The graph shows the average total cost curve for a retailer that uses clerk-staffed checkouts. Draw the marginal cost curve for a retailers that uses clerk-staffed checkouts. Label it MCO. Minimum average total cost for the retailer thatuses self—checkoulsoccursatanoutputoffiflflcustomersaday. ti] Draw a point to show minimum average total cost for the retailer that uses self—checkouts. Drawthe averagetotalcostcurvefortheretailerthat uses self—checkouts. Lahel it ATCI. BDU Draw the marginal cost curve fort he retailer that uses D'" D 200 400 600 am 10m self—checkouts. Label it MCI. Output {customers per day) a. 3» Draw only he objects specified in the quesh'cn. Iii-1 Question is complete. . [email protected]@@@@@@@@@wc Eta-Idle Seen: 0 of 1 pt The table shows the demand schedule for Lin's Fortune Cookies. Lin's Fortune Cookies operates in a market called til-A. an oligopolyr {3* B. perfect competition [it]. monopolistic competition .;.;x D. a monopoly fl:- E. a perfect oligopol}.r Lin's marginal revenue for each batch of cookies demanded is $ 15‘. WEI-HI Score: 11.52% {4.03 of 35 pts) Price Quantity demanded {dollars per belch] {hatches per day) Chapter Problem 3 es el' 35 complete 5-3 15 O 15 15 15 15 15 15 mthM—l Question is complete. Move your pointer over or top on the red indicators to see incorrect answers. «[email protected]@@@@@@@@@bw mmenl Score: 11.52% (4.03 of 35 pts) Ell-rele- Scorn: (I of 1 p1: Larry's firm produces fortime cookies. Drew three points on Larry's supply curve: 1) When the marlnet price of fortune cookies is $30 a hatch the firm produces 7.5 hatches. Label the point 1. 2) When the marloetprice is $43 ehatchthe firmpmduces 5 hatches Label the point 2. 3) When the marketprice is $32 ahatchthe firm either produces S hatches or shuts down. Larry decides to - produce 5 hatches. Label fine point 3. Draw Larry's supply curve above the shutdown point. Label it St- Drsw Larry's supply curve below the shutdown point. Label it 3:. [El BI Question is complete. Price (dollars per batch) 51 01234ssreeio Quantity (batches of fortune cooldes per day) 3» Drew oniythe objects specified in the question. Chapter Problem 6 35 el 35 complete E5 «[email protected]@@@@@@@@@DW Insimctormsignabiea E’lll'flll Score: 0.2 of 1 pt Assignment Score: 11.52% {4.03 of 35 pts) 35 ol' 35 complete a The market in which the firms that sell maple syrup operate is perfmt competition The firms that sell computers operate in monopolistic compefition‘. Finns that sell breakfast cereals operate in an 015311131113!r Producers ofvilamins operate in monopolistic competition . The only restaurant in a small town is an example of monopoly Question is complete. Move your pointer over or top on the red indicators: to see incorrect answers. («[email protected]@@@@@@@@@bw CheckpoinIZProblams EIII'HII Seen: a of 1 pt Auburn-I1! Score: 11.52% (4.03 of 35 pts) 35 el 35 complete 5-3 — Poinsettia growing is a perfectly competitive industry and all poinseitia growers have the same cosls. The market price ofpcinsettias is $27 apct and each grower maximizes profit by producing 1,40l}pcts a week. Average total cost ofprcduoing pcinsettias is $25 a pot and average variable cost is $18 a pot. Minimum average variable cost is $10 a pot. What is the economic profit of each grower at the shutdown point? Each grower's economic profit at the shutdown point is “9,300" dollars a week. ”'5 If the firm incurs an economic Ices, indicate the loss with a minus sign. lithe firrn some on economic profit. do not include a plus sign. Question is complete. Move your pointer over or top on the red indicators to see incorrect answers. . «[email protected]@@@@@@@@@bw comm...” f—\ Exerdle Score: 0 of 1 pt halymrenl Score: 11.52% {4.03 of 35 pts) 35 pl 35 complete a _ Click on the icon to read the news clip, then complete an Price and cost {dollars per gallon) 3 the following steps. As aresult oftheincreaseinthedemandformaple syrup, 55 the price of maple syrup risw‘. The graph shows therevenne andoost curvesforan individual producer in the maple syrup industry. Drawtbe marginal revenue curve ifthe price ofmaple syrup rises to $40 a gallon. Label it MR1. Draw a point. to show the new equilibrium quantity and equilibrium price. Drawashapethatrepresentsthe economieprofitor economic loss. Label it. i] 100 200 300 400 51m EDD TDD BUD 900 Quantity [timsends ofgallons per year) ' . B. :u» Draw only the objects specified in the question. Question is complete. Move your pointer over or too on the red indicators to see incorrect answers. . [email protected]@@@@@@@@éfiibw cmmmapmemz Eat-rele- Score: 0.5 of 1 pt Alumni-n! Score: 11.52% {4.03 of 35 pts) 35 ol' 35 complete a Tulip growing is a perfectly competitive industry and all tulip growers have the same cost curves. 3 The market price oftulips is $11ahunchand each grower maximizes profitbyproduoing SDflhunches aweek. _ The averagetotal cost ofproducingtlflips is $20 ahunch. Minimum average variable cost is $10 ahunch. and the minimum averegetotal cost is $12 ahunch. Inthelongnnthemarketpriceoftlflipsis ahunch. ("J-A- $11 -:Z'Z:- 3- $44 .gfc. $12 -:I'I:- 0. $20 -:j'j:- E. $10 Inthelongrun, atulip grower-'5 economic profitis SCI". Question is complete. Move your pointer over or top on the red indicators to see incorrect answers. «[email protected]@@@@@@@@@bw Instructor Afiignable 11 EI-rd— Scum 0.33 at 1 pr Alumni-rut Sear-r 115m (mas of 35 pm) 35 or 3: mmpl... at Click on the icontn read the news clip, then complete the following steps. 1'75 Pm” and 0051 {dollars per gallon) 9 The falling oil price lowers the price ofethanol. 1,50 The mph shows an ethanol producer's shorterun equilibrium. Drawapointtoshowthequantityofethanolthefirmproducesandtheprine.Lahelitl. 1'25” Suppose that the {ailing oil price changes the market price ofethanal by25 cents a gallon. Draw the producer’s new marginal revenue curve. Label it MR'. Drawapointtoshowthenewmrantity ofethanol producedandtheprioe.Lahel itZ. oT . Draw a shape that represents the producer’s economic loss. Label it. I a... I‘l‘the prioeofoilremains lowfnrsomeyearsandethanolprnduoersare inourringan economic loss, then in the long run . “-25 [-A. willremain inthemarhetin hopes that demand for ethanol will increase and the price will rise 0.0!: _ _ u 10 20 30 «J 51] 61] 70 an __* B. some producers will exit the market, supply will decrease, and the pnce wrll rise Quantity (mllllons of gallonsnfattnnnl) r . some producers will enmrthe market in hopes that demand for ethanol will increase a» Draw only the objects specified in the (martian. and the price will rise 3.1 D. some produoers will exit the market, supply will durrease, demand will increase, 7 and the price will rise QE. some producers will exit the market, demand will increase, and each farmer that remains in the market will receive a highu prioe Question Is complete. . @[email protected]@@@@@@@@@bw Checkpointaresm Brlrdl- Scan: 0 of 1 pt mum-nu Scum: 11.52% (4.03 at :5 pt!) 35 pl :5 campl... El — The graph shows the perfectly competitive market for sunha‘tsr Price (dollars per sunhat) 3 Draw a ahapethat shows the consumer surplus. Label it CS. 45 Draw a ahapethat shows the produem' surplus. Label it PS. 7 Draw a point to indicate the efl‘leient unrilibrium. EI‘J 7 At the competitive equilibrium, . ._*A. the sum ofeonsumer surplus and producer surplus is maximized [j-B. the sum ofconsumer surplus and producer surplus is minimized 5)! C. producer surplus is maximized r':'-D. consumer surplus is maximized u 20 40 an an 100 Quantity (sonnets per week) a» Draw only the chit-ins specified in the question. @[email protected]@@@@‘@@@@Dw Checkpoinumblsmz a-rd— Scorn: n or 1 pt Alumni-n: Scorn: 1152* (4.03 of 35 pix) as all as mmpl... lg! — Sam's Mineral Springs is a singleprioe monopoly. The table gives Sam's demand scheduler Prlce and rmrglnal MEWS (COHEN W" W) 3 Price Quantity ' {dull-I1 plr bolls] {sown p-r hour) ' in u 9 1 a 2 T 3 (i 4 5 5 Draw points on the demand ourvetn show the quantity demanded 1) when the price ofahottle is $10. Label it 1. 2) when the price ofa bottle is $5. Label it 2. Draw the demand curve through the pointer Lahel it D. Draw points on the marginal revenue curve ’ 1) when the quantity increases fromt] tn 1. Label it 3. 2) whm the quantity increases from 4 to 5. label it 4. Draw the marginal revenue curve through the points. Extend it tothe yaxis and label it a 1 2 3 4 5 6 Quantity (bottles per hour) 3» Draw only the objects specified in the question. «[email protected]@@@@@@@@@bw Chapter Problem 2 Elnrd- Scan: 0 of 1 pt Wilhur‘s is the only septic service in arernote village The firm‘s total fixed cost is $50 a day and its marginal cost is zero. The table shows the market demand schedule for the film’s service calls. Wilbur-‘5 profit—maximim'ng price is stub: m‘ warms marginal cost. At the profitrmasimizing price, the demand for Wilhur‘s service calls is .:.A. perfectly elastic QB. inelastic .9! Ci elastic .‘fi.’ Di unit elastic :-E. perfectly inelastic «[email protected]@@@@bw Autumn: scum 11.52% {4.03 m 35 pix) Price {dollars parunltel call] 500 400 am) 200 100 0 as of as comm... Quantity {gonna tans por day) 0 4 a 12 16 20 IE Checkpoint 3 News 1 Burdo- Seoro: 0 of 1 or Click on the iconto read the news clip, then complete the following steps. The graph shows the market for rice Draw a point at the profit—maximizing price and quantity ifthe market fnrrice is perfectly competitive and there is no riceexporting cartel. Label it 1. Draw a point at the profitemaximizing price and quantity if the riceexponing nations hecome a profit—maximizing cartel. Label it 2. Arise cartel . QA‘ always makes an economic profit in the longrunhy charging the highest price possible .*. B. will not boost. prices ifthe countries cannot cooperate and maintain the agreed - production quotas .31 ‘3‘ cannot boost prices because it detmnines its profit-maximizing price and quantity inthe same manna as a pe'fectly competitive industry - : -D. cannot boost prices because it produces the greatest quantity of rice possible «meeee’m minim-n! Score: 11.52% {4.03 of 35 pa.) 2‘50 35 at 35 comm... Prim and cost (dollars per pound of rice) 3 2‘2 2m 1‘75 150 125 1175 100 0‘50 0‘25 11M 30 MR 50 D CI 102030405061170311911100 Quantity (mllHnns ofpounds ofrica per year) >>> Draw only the objects specified in the question. IE Checkpoint 2 Test B 1 and- scnm n of 1 pt Draw the firm‘s average total cost curve with no advm'tising. Label it ATCh. Draw the firm‘s average total cost curve with advertising label it ATCI. I II‘J lfa fn'rn‘s alive-rising campaign is successful and its competitors respond by increasing their advertising, the firm‘s . -_* A. total cost increases, but the demand for its product may become more elastic . total cost increasesl but the firm will increase its markup . total cost decreases, but the demand for its productwill become more inelastic ‘ total fixed cost increases, but marginal cost does not. increase in the firm increases production Will-n! Scum 11.52% {4.03 m 35 pix) as 0| :5 mmpl... Cost [dollars per printer) 3 so 51] A] E L ATE" 40 II 20 1|] [I CI 54] 100 150 200 250 III! Quantity [printers per day) >» Draw onlytiie objects specified in the question. [9 «[email protected]@@@@bw Checkpoinl 1 TestA 11 anarch- Seen: a of 1 pt July-mum Scum: 11.52% (4.03 of 35 pts) :5 ol :5 campl... E! , The graph shows the cost curves, danand crime, and marg'nal revuiue curve ol'afirm in F’flfii flflfl 005‘ {dollars per printer) 5 monopolistic competition. 12:: MC Draw a paint to indicate the firm's profit-maximizing output and price. 1n ' Draw a shapet‘nat shows the film's economic profit or loss. Lahel it appropriately. El] .1 ......................... , oo- In the short run. a firm in monopolistic competition . I -_*_ A. mahes its output and price decision just like a monopoly firm does 40- D ax 3. always makes an economic profit W" QC. incurs an economic loss 2" Mg r] U. breaks even a o 511 100 150 200 250 3110 Quantity (printers per week) >>> Draw only the objects specified in the question. @[email protected]@@®[email protected] ChapterF'roblemS elude. Seere: a of 1 pt AluI'uII-nl Scum: 11.52% {4.03 or :5 us) as or :s cumpl... El ReadEye arr Cell Phones. Thai answo' the following questions. 1. Cellsphone producers offer such a large variety oftheir products . A. to minimize average variable cost c .-B. because the research and development required lowers average fixed cost g! G. to minimize total fixed cost _* D. to maximizeprnfit 2. The graph shows the market for cell phones One demand curve represents the demand cmeliacedhryafinu ina rnarlretthatpmduces difi'ermfiatedcellphoueslTheuthn demandcurverepreseutsthedemandmrve facedbya firminamarlretthatproduces identical cell phones. Draw a point to show the quantity of cell phones bought and sold and the price when the firms in amarkel. produce idmfical cell phones. Label it 1. Draw a point to show the quantity of cell phones bought and sold and the price whm the {inns in amarkel. produce difl'ereutiated cellphones. Label it 2. ['2 F}- Prloe and cost (dollars per cell phone) 200 150 250 Quantity (cell phones per day) 5410 750 1000 1250 1500 »=- Draw only the objects specified in me question. «[email protected]@@@@bw Checkpoint 1 Extra Problem 4 El-rd- seem in of 1 pt Anny-mm Seem 11.52%(4113 of 35 pts) Lorie teaches singing. Herfixed costs are $1,000 a month, and it costs hfl' $50 of labor to Prloe (dollars per lesson) as or 35 mmpl... E give one class. The table shows the demand schaiule for [orie's singing lessons. Price Quantity demanded {dollars per IIIIfllI] llccoonr per month) 0 250 50 20C! 100 150 150 100 200 50 250 0 Draw Lorie's demand curve, marginal revenue curve, and marginal cost curve based on the schedules in the table. Label the three curves appropriately Draw a point at the firm's the profit-maximizing output and price. I II“! Lori makes an economic profit of 5 9M. 0 El 100 150 200 Quantity (lessons per month) >» Draw only me ubjsd's specified in me question. «[email protected]@@@@@@@@@bw Checkpoint 1 Extra Problem 2 hlrdl. Scan: 0 of 1 pt only-mum Scum: 11.52% (4.03 or 35 pix) as all :5 mmpl... E! The g-aph shows the demand curve, marginal revmue curve, and cost BUIVE ufBab's Best. Wu and cost {dothrs per burger) 3 Burgers, a firm in monopolistic competition. 5‘5” Draw a point at Bob's profit-maximizing quantity and price. 5 an MC ATC Draw a shapete show the firrn‘s economic profit or economic loss. Label it appropriately. 4. 'clc s $.00 . . ‘ ‘ “X5 Bob‘s mmecununncloas uf$50 aday. a» lfths tirrn incurs an economic loss, select economic loss in the dropdown box and do not enter a minus sign. 3 5” D am 100 MR 250 D 50 100 150 200 350 am! Quantity (burgers per day) 2-» Draw only the objects specified in the question. «[email protected]@@@@@@@@@bw Checkpoint 5 Test B 1 Ellrd- Scan: 0 of 1 pt mun-mm Scan: 1152* {4.0: M 35 pix) The graph shows the marginal cost curve, average total cost curve, and demand curve of a natural monopoly. Draw a point at the eflioient. output and. price. Draw a shapetn show the consuma- surplus when the efficient quantity is produced. Lahel iL I3- 3E Regulation that results in the efiicimt output and price is . .fi'A. a marginal cost pricing rule [-5. a rate afretumregulation r': -G. a price cap regulation 3); D. an average costpricing rule «[email protected]@@@@[email protected]@@@bw as ol as mmpl... Price and cost (dollars per cuhlc foot) 3 n 2 4 6 3 Quantity (mllllons of aihlc feet per month) 10 12 >>> Draw only the objects specified in the question. 6’ Instructor Afiignable 10 bI-rdln Score: a or 1 m mum-n: Scum: 11.52% {4.03 or 35 pts) Big Top is the only am inthe nation. The graph shows the demand curve for circus tickets, the avuagetmal cost curve, and the marginal cost curve. Draw a horizontal line at the price cap that regulators set that enables the Big Top to break evm. Label it. Draw a shape to show the deadweight loss when regulators set a price cap that enables the Big Top to brads even. I When Big Top is regulated to charge a price equal to average total cost, economic profit is s o‘. 35 ul 3: camol... Price and cost (dollars per Hurst) 3 16,00 12,00 4.06 0.06 CI 100 200 am) 400 5410 Bill! 700 Quantity [tickets per snow] BCID 900 >>> Draw onlythe objects specified in the question. E «[email protected]@@®[email protected]‘@@@@DW ChapterF'roblemtO Ek-rdll Sean: D of 1 pt mum-nu Scan: 11.51% (-1.53 of 35 pus) 35 of :5 ocmpl... [fl _ Click on the icon in read the news clip, then complete the following steps Price and Mt (dollers per noble channel) 3 The graph shows the market for cable channels. Ikew a point to Show the price and quantity when the market is an unregulated monopoly. Lehel it 1. Drew a point to show the price and quantity ifthe FCC's new regulations result in a perfectly competitive market. Label it 2. I“! If the FCC’s new regulations result in a perfectly competitive market, deedweight loss is equal to $ 0‘. The new regulations consumer surplus and producer surplus. .:.A. decrease; decrease .Q! B. increase; increase ‘ a mo 20:) 300 «JD 500 .‘A’C Lame; decrease Quantity (cebiechannels) {-0. decrease; increase >>> Drew only the objects specified in the question. «[email protected]@@@@'@@@@DW CheckpointZTestAS EIII'CIII Score: a of 1 pt Melanin-m Scorn: 11.52% (4.03 or 35 pm) 35 pl 35 comm... E Cook's 'Ihll Ship Cruises is a single-price monopoly. The table gives the demand schedule for cruises (columns 1 and 2) and Cook's total cost Price Quantity “‘3' 9"“ schedule before taxes (columns 2 and 31 (“u"“d' “ (””9“ ”“5““ “f ’ dollars per dull-rs per Suppose the gave-omen taxes Cook's by $60,0D0 pm cruise pareruiel] month] month) Calculate Cook's new profit—maximizing output price and economic profit. 253 a 29 >>> Remember lhel the amounts in the lahle are given in thousands ofdclllrs. 230 1 100 Cook's profitemeximiring output is 2.0‘ cruises emonth. 3;: g :2: >b> Answer to 1 decimal place ‘ 1m 4 460 Cook's profitemeximiring price is $210,000 ecruise. 153 5 620 WhenCoolt's produces the profitemeximizing output and charges the profitrmaximizing price, economic profit is 100,006 dollars >>> lfyour enmer is negative, include a minus sign. it your answer is positive, do not include a pius sign. dddéfi’ég’ég’égjéfijégég’ég’ég’éfi’bbb |nflmctorAmignuble1 Elnrd— scan: n ur 1 pt gulp-mm scum: 11.52% {4.03 m 35 pm) as of :5 oomnl... [fl _ Click on the icontn read the news clip, then answer the following questions. pm” (dollars per 0093') 3 The graph shows the market for Mimsofi Windows. >>> The graph will plot data needed to answer this question. Ifthe marginal cost oi'inaking a copy ufthe full version ofwindows that includes Intmed Explorer (IE) is m, Microsufi will set the prioe ofWindows at $ 409‘ pa copy. Ifthe average fixed cost of stripping [E from Windows is $80 per BODY. Microsnfi will set the price ofWinrlnws stripped anE at $4“? pa copy. Ifthe marginal cost oi'sn'ipping [E from Windows is $80 per copy, Miemsnfi will settlie price ofWindows snipped. ofIE. at $ 440‘ per copy. It is ‘ in Micmsnfi's self-interest“) set a different price for a msion stripped of [E if m the marginal cost of producing the snipped version difl'ers li'oln the versinnthat include: m IE. I] n 10 20 so 40 50 m 71] an Quantity (mus-"dc crannies MWinflows par monlh) ”It Click on the graph to work out the answer. @[email protected]@@@@@@@@@Dw ChaokpoinlaTestAZ run-an Scorn: a of 1 pt min-n! scum 11.52% (4.03 m 35 pix) as :1! :Is Dompi... [g Nannii's 'Ihttoos is a tattooing business in a perfectly competitive market. in Ithaca. The table shows Naomi's total costs. Quantity Total east mus plr hour) (dull-rs par hour) Inthelnngrum whatistheprice nfatnttoo and hnwmanytattuosdues Naomi sellsn 0 20 hour? What is Neomi's economic profit in the long run? 1 110 ‘ 2 170 In long-run equilibrium, the price ofatattoo is $ 65.00. 3 2m} >>3 Answer to 2 delmal plloas. 4 260 In long-run equilibrium, Naomi sells 4‘ tnttoosan hour. 2 3:: In longirun equilibrium, Nenmi's economic profit is $ 0‘ an hour. ...
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The Proposition 13 Value1 represents the maximum taxable value for your property.

Since the passage of Proposition 13 in 1978, property is assessed at its fair market value as of the date it is acquired. Your purchase price generally becomes the taxable “base value” as of that date. From that point forward the taxable value of your property is limited to no more than a 2% increase per year.2 For example, if you purchase a property which gets assessed at $500,000, the annual taxes would be based on $500,000 the first year, trended to $510,000 ($500,000 x 1.02) the second year, and trended to $520,200 ($510,000 x 1.02) the third year, etc. Also see example below.

In a declining real estate market, the market value of your property may actually be lower than your trended base value. In this case, your property may qualify for a decline-in-value reassessment, temporarily reducing the taxable value to its current market value. Once granted, a decline-in-value reassessment is reviewed annually and may be further reduced, partially restored, or fully restored to its trended base value.

Example
A property was purchased for $500,000. During a three-year period, the real estate market declined and recovered. The property owner filed for a decline-in-value reassessment. The following table shows the trended base value of the property, the market value of the property, and the assessed value of the property. Assuming a 2% annual consumer price index (CPI):
Trended Base ValueMarket ValueAssessed Value
Year 1$500,000$500,000$500,000
Year 2$510,000$480,000$480,000
Year 3$520,200$510,000$510,000
Year 4$530,604$550,000$530,604

In Year 1, the property’s purchase price reflected the market value and was assessed accordingly. In Year 2, the property was granted a temporary decline-in-value to reflect its current market value. In Year 3, the property was partially restored to reflect its rising market value. In Year 4, the property was fully restored to its trended base value (maximum taxable value) even if its market value was now actually higher.

1Also known as the Proposition 13 assessed value, Proposition 13 trended base value, factored base year value, and trended base year value.
2The taxable value may increase more than 2% if a transfer of interest or new construction occurs on the property.

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