HW2_302 - Econ 302- Second Problem Set Spring 2010-Ali...

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Spring 2010-Ali Toossi Due: Wednesday, February 10 All problem sets should be prepared neatly and professionally. Problem sets should be typed , stapled and should contain the following information on the right-hand corner of the page: your name , course number , section , assignment identification and date . Problem sets that are sloppy, torn from spiral-bound notebooks, or which are illegible, or unstapled, will be graded down. Do the problems in the textbook and the additional problems. Chapter 1:Problems Eigth edition pages 22 & 23: Problems 11, 13, 16 Seventh edition page 22: Problems 11, 13, 16 Additional problems 1- Suppose a farmer is deciding how many acres to spray. The crop duster charges $7 per acre. The total benefit of spraying is given by the following chart: a. Use marginal analysis to determine how many acres the farmer should spray. b. If the crop duster adds a fixed fee of $5 to come to the farm, how many acres should the farmer spray? c. If the crop duster raises his fee to $10 per acre, how many acres should the farmer spray? 2- The chart below shows the MB of a good with a price of $6 per unit: Quantity MB TB MC TC NB 1 15 2 13 3 11 4 9 5 7 6 5 a. Fill the rest of the chart. b.
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This note was uploaded on 02/14/2011 for the course ECON 302 taught by Professor Avrin-rad during the Spring '09 term at University of Illinois, Urbana Champaign.

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HW2_302 - Econ 302- Second Problem Set Spring 2010-Ali...

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