The production possibilities frontiers below show how much Bob and Betty can each produce in 8 hours of time.               Bob’s PPF                                                        Betty’s PPF Betty has

Figure 22-13 ​Refer to Figure 22-13. When the price of X is $80, the price of Y is $20, and the consumer’s income is $160, the consumer’s optimal choice is D. Then the price of X decreases to $20. The income effect can be illustrated as the movement from

Table 15-9 A firm in a competitive market has the following cost structure:​ Quantity(Units) Marginal Cost(Dollars) 0 — 1 5 2 10 3 15 4 20 5 25 ​ ​Refer to Table 15-9. Consider a competitive market with 50 identical firms. Suppose the market demand is given by the equation QD = 200 − 10P and the market supply is given by the equation QS = 10P. How many units should a firm in this market produce to maximize profit?

Both Diana and Sarah like Classical music and music by Beyoncé. Diana likes music by Beyoncé much better than Classical music, whereas Sarah prefers Classical music to music by Beyoncé. If we were to graph an indifference curve with CDs by Beyoncé on the horizontal axis and Classical music CDs on the vertical axis, then

Figure 15-4 In the following figure, graph (a) depicts the linear marginal cost (MC) of a firm in a competitive market, and graph (b) depicts the linear market supply curve for a market with a fixed number of identical firms. ​ Graph (a): Firm Graph (b): Market Refer to Figure 15-4. When 100 identical firms participate in this market, at what price will 15,000 units be supplied to this market?

Table 6-1The following table contains the demand schedule and supply schedule for a market for a particular good. Suppose sellers of the good successfully lobby Congress to impose a price floor $2 above the equilibrium price in this market. ​ Price (Dollars per unit) Quantity Demanded (Units) Quantity Supplied (Units) 0 15 0 1 13 3 2 11 6 3 9 9 4 7 12 5 5 15 6 3 18 ​ Refer to Table 6-1. Following the imposition of a price floor $2 above the equilibrium price, irate buyers convince Congress to repeal the price floor and to impose a price ceiling $1 below the former price floor. The resulting market price is

Figure 22-11 ​Refer to Figure 22-11. Assume that the consumer depicted in the figure has an income of $20. The price of Skittles is $2 and the price of M&M’s is $4. The consumer’s optimal choice is point

Table 10-4​ Quantity (Units) Private Value (Dollars) Private Cost (Dollars) External Cost (Dollars) 1 46 21 6 2 44 24 6 3 42 27 6 4 40 30 6 5 38 33 6 6 36 36 6 7 34 39 6 ​ ​Refer to Table 10-4. The table represents a market in which

Decompose v into two vectors v1 and v2, where v1 is parallel to w and v2 is orthogonal to w.v = -2i – 5j,w = -3i + j

Decompose v into two vectors v1 and v2, where v1 is parallel to w and v2 is orthogonal to w.v = -3i – 2j,w = -3i – j