Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 There are five people who want to learn to play the beaked flute aka recorder. There are five people who want to teach

Question 1

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

How many people are willing to pay at least 29.5 for a lesson?

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

10 points

Question 2

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

If the price were 29.5 for a lesson, the quantity demanded would be:

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

10 points

Question 3

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

If the price were 29.5 for a lesson, the quantity demanded would be:

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

Illustrate the quantity demanded when the price is 29.5 on the grid

Selected Coordinates 273, 163 Clear

10 points

Question 4

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

How many people are willing to pay at least 25.5 for a lesson?

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

10 points

Question 5

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

If the price were 25.5 for a lesson, the quantity demanded would be:

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

10 points

Question 6

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

If the price were 25.5 for a lesson, the quantity demanded would be:

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

Illustrate the quantity demanded when the price is 25.5 on the grid

Selected Coordinates Clear

10 points

Question 7

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

How many people are willing to pay at least 21.5 for a lesson?

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

10 points

Question 8

There are five people who want to learn to play the beaked flute aka recorder.

There are five people who want to teach how to play the beaked flute aka recorder.

If the price were 21.5 for a lesson, the quantity demanded would be:

Name Willingness to pay Name Willingness to accept
Albert 30 Zach 21
Barry 28 Yolanda 23
Catherine 26 Xavier 25
Donna 24 Wanda 27
Elaine 22 Valerie 29

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Commanding Heights The Battle For The World Economy

Authors: Daniel Yergin, Joseph Stanislaw

1st Edition

068483569X, 9780684835693

More Books

Students also viewed these Economics questions

Question

Compare and contrast special and common causes of variation.

Answered: 1 week ago