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illustrate a graph please Question 1. (Demand and Supply) (noititeqmo_ josh99) & noizeup In a diagram illustrate the effects on the price and quantity traded

illustrate a graph please

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Question 1. (Demand and Supply) (noititeqmo_ josh99) & noizeup In a diagram illustrate the effects on the price and quantity traded in a market after the following scenarios: a) Supply increases only. (vigque) 20 9 b) Supply decreases by a large factor and Demand increases by a small factor. c) Supply increases and Demand increases by the SAME factor. (1 Jerli omuzzA Question 2 (Marginal Analysis) 202 = DM Calculate the optimal amount of output to produce in a firm under the following conditions: Marginal Benefit*: MB = 2,000 - 2Q Marginal Cost: MC = 500 islupiss (d *Marginal Benefit is also called Marginal Revenue when the question involves output. (b Question 3 (Consumer Choice Theory) Assume an individual has the following Marginal Utilities Quantity MUx MUy 200 20 8 9 W N 6 8 4 4 7 2 W UT O a) Assume that the budget is $5, the Price of X is $1, and the Price of Y $1. How much X and Y will the consumer buy? b) Assume that the budget is $6, the Price of X is $2 and the Price of Y $1. How much X and Y will the consumer buy? c) Illustrate the solutions for a and b. d) What is the Law of Decreasing Marginal Utility? e) What is the Optimal Purchasing Rule? Question 4 (Cost Curves - Short Run and Long Run - Profits) a) Draw the AFC, AVC, ATC, and MC cost curves. Briefly explain their shapes. b) Draw the Long Run Average Cost Curve. Briefly explain its shape. c) What is the difference between the Long Run and Short Run in the context of Microeconomics? d) Illustrate a perfectly competitive firm that is at "break even" point. e) Illustrate a monopoly that is incurring profits profit = 0

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