SOLUTION: Saudi Electronic University Optimal Pricing & Quantity Theory Questions
Microeconomics CRITICAL THINKING-2 Regulations: ✓ ✓ ✓ ✓ This assignment is an single assignment. Students are encouraged to use their own utterance and acquiesce the assignment in tidings smooth.. Students must thrive academic congruity standards and APA designate guidelines. Support your inferiority delay arrange symbolical concepts, principles, and theories from the textbook, concurrently delay at meanest two scholarly, peer-reviewed life doctrines. ✓ A sign of naught is awarded for any inferiority that includes caricaturing from other resources without appropriate referencing it. ✓ Write at meanest 4-5 pages in diffusiveness, barring the distinction page, conceptional and required intimation page, which is never a multiply of the poverty gaining requirements. ✓ It is strongly encouraged that the novice acquiesces his/her assignment into the Safe Assignment Originality Control antecedently sending it to your preceptor for grading. Q1. According to the USA Today newsdisquisition in March 2010: “A lifenear Florida evening is portico its impost on your sandwich. The sunshine specify is the deep U.S. source for untried evening tomatoes, and its growers past some 70 percent of their fruit during January’s prolonged apathetic region. The mediocre negotiateable cost for a 25-pound box of tomatoes is now $30, up from $6.50 a year ago. Florida’s growers would normally ship about 25 million pounds of tomatoes a week; fit now, they are shipping near than a forbearance (8million). High ask-for has stimulaten up costs and negotiateablers are buying from Mexico. Based on that, some restaurants supposing tomatoes barely on solicit.” a. Using the notice overhead meet the ask-for and accoutre curves in the signet for evening tomatoes. (5 Marks) b. Calculate the cost elasticity of ask-for for evening tomatoes as polite as elasticity of accoutre using the midpoint rule. (5 Marks) Q2. Sub Mart Inc. needs to career the optimal cost to enjoin and the optimal extent to accoutre in the signet. The ask-for discharge of the outcome is fond as QD=40-2P, opportunity the accoutre discharge of the outcome is fond as QS=2P where P is the cost, QD is extent ask-fored, and QS is extent gifted. Solve the thriveing ask-for discharge is fond as: QD=40-2P. Calculate the makeweight cost and extent. (5Marks) Q3. Consider the ask-for for apples. If the costs of a yield amiable(bananas) increases and the cost of a totality amiable (apple pie) increases, can you decide for permanent what gain happen to the ask-for for apples? Why or why not? Illustrate your acceptance delay a graph. Q4. The signet for pizza has the thriveing ask-for and accoutre register (5 Marks) a. b. c. d. Price Extent Demanded Extent Supplied $4 135 26 $5 104 53 $6 81 81 $7 68 98 $8 53 110 $9 39 121 Graph the ask-for and accoutre curves What is the makeweight cost and extent in this signet? If the real cost in this signet is overhead the makeweight cost what would stimulate the negotiate towards the makeweight? If the real cost in this signet is underneath the makeweight cost what would stimulate the negotiate towards the makeweight? End of Page Formatting Specifications: • One-inch margins on all sides of the instrument. • Double-interval full instrument, including the intimation page. • Use Times New Roman, black font speciousness, and extent 12 font for the full instrument, including the intimation page. • Include a severed distinction page delay the thriveing notice. Centered in the top half of the page: (a) disquisition distinction, (b) novice designate, (c) arrange sum and designate of arrange, (d) designate of institution, (e) designate of preceptor, (f) duration acquiesceted. All important utterance are capitalized and not valiant. Insert the page sums on the distinction page. Start delay page 1. • Use styles delayin the whole of the instrument. 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