I ONLY NEED 5TH QUESTION ANSWER
THIS QUESTIONS CORRELATED WITH EACH OTHER PLEASE ANSWER IT URGENTLY
Question 1 Not yet answered 1. Juan's demand schedule for Burritos is as follows. (12 points) Value of first Burritos $8 Marked out of 12.00 Value of second Burritos $7 Value of third Burritos $3.50 P Flag question Value of fourth Burritos $3 a. b. If the price of Burritos is $6, how many does Juan buy? How much consumer surplus does Juan get? Show your work: If the price falls to $4, how many does he buy? What is his consumer surplus? C. d. 7 A I = a. Here we obtain a step diagram demand schedule, and at a price of $6 Juan buys 2 unit of Burritos. b. Consumer surplus= 3 unit. (8-6)+(7-6)=3 c. At a price of $ 3.50 Juan buys 2 units of Burritos. d. His new consumer surplus is 7 unit's. Question 2 Not yet answered 2. Pablo makes Burritos. It costs more to make more Burritos because he can only cook one at a time, so he has to spend more time waiting if he wants to make more Burritos. (12 points) Cost of first Burritos $2.00 Marked out of 12.00 Cost of second Burritos $3.00 Flag question Cost of third Burritos $4.50 Cost of fourth Burritos $7 a. b. If the price of Burritos is $5, how many does Pablo make? What is Pablo's producer surplus? Show your work. If the price rises to $6, how many does Pablo make? What is his producer surplus? C. d. A B I a.lf price of Burritos is 5 then Pablo will only make two Burritos, because if he is making third pizza then he is incurring loss. b. Producer surplus=$(5-3)+$(5-3.5)=$5 c.lf price of pizza is $6 then Pablo would make 4 Burritos. d. Producer surplus=$(6-2)+$(6-3)+$(7+1.5)=8.5$ Question 5 Not yet answered Marked out of 19.00 P Flag question 5. If Pablo produced and Juan consumed one fewer Burritos, calculate consumer surplus, producer surplus, and total surplus. Show your work. (19 points) Consumer Surplus Producer surplus Total surplus a. f Pablo produced and Juan consumed one additional Burritos (one more than equilibrium) calculate consumer surplus, producer surplus, and total surplus. Show your work Consumer Surplus Producer surplus Total surplus b. What does your answer about Juan and Pablo consuming/producing one more Burrito tell you about the invisible hand and the efficiency of markets and prices? 7 E Question 1 Not yet answered 1. Juan's demand schedule for Burritos is as follows. (12 points) Value of first Burritos $8 Marked out of 12.00 Value of second Burritos $7 Value of third Burritos $3.50 P Flag question Value of fourth Burritos $3 a. b. If the price of Burritos is $6, how many does Juan buy? How much consumer surplus does Juan get? Show your work: If the price falls to $4, how many does he buy? What is his consumer surplus? C. d. 7 A I = a. Here we obtain a step diagram demand schedule, and at a price of $6 Juan buys 2 unit of Burritos. b. Consumer surplus= 3 unit. (8-6)+(7-6)=3 c. At a price of $ 3.50 Juan buys 2 units of Burritos. d. His new consumer surplus is 7 unit's. Question 2 Not yet answered 2. Pablo makes Burritos. It costs more to make more Burritos because he can only cook one at a time, so he has to spend more time waiting if he wants to make more Burritos. (12 points) Cost of first Burritos $2.00 Marked out of 12.00 Cost of second Burritos $3.00 Flag question Cost of third Burritos $4.50 Cost of fourth Burritos $7 a. b. If the price of Burritos is $5, how many does Pablo make? What is Pablo's producer surplus? Show your work. If the price rises to $6, how many does Pablo make? What is his producer surplus? C. d. A B I a.lf price of Burritos is 5 then Pablo will only make two Burritos, because if he is making third pizza then he is incurring loss. b. Producer surplus=$(5-3)+$(5-3.5)=$5 c.lf price of pizza is $6 then Pablo would make 4 Burritos. d. Producer surplus=$(6-2)+$(6-3)+$(7+1.5)=8.5$ Question 5 Not yet answered Marked out of 19.00 P Flag question 5. If Pablo produced and Juan consumed one fewer Burritos, calculate consumer surplus, producer surplus, and total surplus. Show your work. (19 points) Consumer Surplus Producer surplus Total surplus a. f Pablo produced and Juan consumed one additional Burritos (one more than equilibrium) calculate consumer surplus, producer surplus, and total surplus. Show your work Consumer Surplus Producer surplus Total surplus b. What does your answer about Juan and Pablo consuming/producing one more Burrito tell you about the invisible hand and the efficiency of markets and prices? 7 E
