Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Econ 213 problem set 3 answers

13/10/2021 Client: muhammad11 Deadline: 2 Day

ECON 213 PROBLEM SET 1 - LIBERTY UNIVERSITY

Problem Set 1

Name: ______________________________________________

Problem Set 1 is due by 11:59 p.m. (ET) on Monday of Module/Week 2.

1. Based on the information provided below for the market for video games, answer the following questions:

PRICE

Q DEMANDED

Q SUPPLIED

$50

5

9

$45

7

7

$40

9

5

$35

11

3

$30

13

1

a.) Draw and properly label the demand and supply graphs (this means you must label the axes and any lines you include on the graph).

b.) What is the equilibrium price and quantity?

PRICE: ______________________ QUANTITY: ______________________

Now, assume that a new government report claims that video game play stimulates the brain.

c.) What will this do to the demand curve? Of the list of things in the text that cause a change in demand, which best fits here as the cause of the demand shift?

d.) What will happen to the equilibrium price and quantity?

P: _______________________ Q: _______________________

2. Based on the information provided below for the state of Montana, answer the following questions:

CHOICE

OIL / barrels

WHEAT / bushels

A

5000

0

B

4500

10000

C

2500

20000

D

0

25000

a.) Draw the Production Possibilities Curve.

b.) Determine the opportunity costs for a move from A to B; B to C; and C to D.

A to B: _____________ B to C: __________________ C to D: _________________

3. In the space provided below, do the following:

a.) Draw and properly label a demand and supply curve.

b.) Indicate where the equilibrium Price and Quantities are located.

c.) How do things change based on the following scenario?

· The market for hybrid cars is changing. There are more providers but due to bad publicity and poor performance, demand is falling.

Knowing this information, answer the following questions and then show the corresponding information in your graph:

a.)

b.)

c.)

d.) What is the market you are dealing with?

e.) Which curve(s) change(s)? Based on the lists in the text of what causes demand and supply to shift, what are the causes of these shifts?

f.) In what direction do they change?

g.) What happens to the equilibrium price and quantity after these changes are put into effect? Do they go up, go down, or stay the same?

P: _______________________ Q: _______________________

4. Mario has reached a crossroads in his life. He is trying to decide whether to change careers. Currently, Mario makes pizzas, but he is considering entering a different line of work testing video games. Mario can either test 6 games or toss 12 pizzas in a day. Interestingly, Mario’s friend Luigi is in a similar predicament. Luigi can test 3 games or toss 2 pizzas during a day.

Mario’s opportunity cost of testing one game: ___________________________

(yes, you can test fractional games)

Luigi’s opportunity cost of testing one game: ___________________________

(yes, you can test fractional games)

Mario’s opportunity cost of tossing one pizza: ___________________________

(yes, you can have fractional pizzas)

Luigi’s opportunity cost of tossing one pizza: ___________________________

(yes, you can have fractional pizzas)

Who has an absolute advantage in testing games? ________________________

Who has the comparative advantage in testing games? _____________________

Who has the comparative advantage in making pizzas? _____________________

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Study Master
Quality Homework Helper
Best Coursework Help
Top Grade Essay
ECFX Market
Supreme Essay Writer
Writer Writer Name Offer Chat
Study Master

ONLINE

Study Master

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$33 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

I will cover all the points which you have mentioned in your project details.

$33 Chat With Writer
Best Coursework Help

ONLINE

Best Coursework Help

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$33 Chat With Writer
Top Grade Essay

ONLINE

Top Grade Essay

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$42 Chat With Writer
ECFX Market

ONLINE

ECFX Market

I have read and understood all your initial requirements, and I am very professional in this task.

$22 Chat With Writer
Supreme Essay Writer

ONLINE

Supreme Essay Writer

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$47 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

October sky student worksheet answers - Operational definition of customer satisfaction - Soap Note x 3 (20 Hours) - Merrill lynch merger into bank of america - Reflective Journal - Acca annual subscription fee - Writing Help - Flow chart symbol meanings - Leeds college of building electrician courses - Ritz furniture has a contribution margin ratio of - Promotion of well- being - Sealink ferry to kangaroo island - Impractical jokers ill conceived menu - Huckleberry finn chapter 13 summary - Pygmalion in the classroom summary - How to calculate drg reimbursement - Ryan216 org school supply list - Accounting project 1 - Information technology - Easter prayer for teachers - Health Care Delivery 3 - Galvanic cell practical report - Edu 540 week 11 - Organ Leader - Is boron shiny or dull - April showers edith wharton quizlet - Many modern Singaporean families have both parents working - Swales definition of a discourse community - Charles darwin university student accommodation - Books on training needs analysis - Adding ing to words - The two-step approach to direct marketing - Implicit Bias - Calculate δh∘rxn for the reduction for v2o5. - When is blood brothers set - Dirt bike clubs melbourne - 2000word AP style researched argument essay - J3 - A fundamental distinction between trend projection and linear regression is that: - Sjone board - Raw Materials Assessment - Networking and digital communication - Dobry die & mold inc enters into a contract - Suppose honda's total cost of producing - A coil consists of 200 turns of wire - Power builder bee r - Which of the following is one of the assumptions underlying nonrational models of decision making? - Jobshop uni of kent - Descriptive and inferential statistics - How to write a cover letter for portfolio in english - A chaste maid in cheapside - Dns method for enzyme assay - Proposing a Research Question - Chapter 4 mastery problem answers - How to write a financial statement analysis paper - Aim of the report - Villanova lean six sigma master black belt - Introduction letter to neighbors - Avg ecommerce cy iat paypal - Hudson valley vikings football - What is the greatest common factor of 12a and 9a2? 9 36 3a 12a2 - Duravit spare parts list uk - Secluded private open space definition victoria - Pro position proposal - In the figure particle 1 of charge q1 - Zodiac aircargo equipment ltd - Canoe companies manufacturing accounting system - 8.04 leisure writing assignment answers - Bus 475 week 2 quiz - What is the second step of cellular respiration - Carol wan chui pan - 10 25 police code - How to determine the leading coefficient - Philosophy - Binary addition 2s complement - Who called atticus a negro lover - Jac and jack glasses - City circle tram map - Cook chill for extended life example - Turner syndrome pedigree chart - Week 6 - Starbucks partner performance review - Understanding the nursing metaparadigm - Persuasive techniques expert opinion - Gpib usb hpib usb controller - The redistricting game worksheet answers - Organ Leader & Decision Making - Truck and plant assets - Mark lowenthal intelligence from secrets to policy pdf - How to write a 700 word essay - Maryland institute college of art animation - Fanatec v2 pedals manual - Assignment - Theodor benfey's periodic table 1964 - Ashley mines commission - The cry of the children poem - Duplicolor touch up paint catalog - James hardie 2700 x 600 x 19mm secura exterior flooring - Nike case study ethics - Custom subnet mask