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hwk4sec3

# hwk4sec3 - Number of Tra 10 Number of Units Consumed by 10...

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Experiment 4 Section 3 Problem 4.1 Part a) \$50 Part b) \$15 Problem 4.2 Supply at prices above \$10? 42 Supply at prices below \$10? 0 Problem 4.3 Part a) No Part b) Average price paid by addicts? \$26.15 Average price paid by casual users? #DIV/0! Part c) Yes Problem 4.4. Figure 4.4: Demand and Supply in Session 1 \$0 \$10 \$20 \$30 \$40 \$50 0 5 10 15 20 25 30 35 40 45 50 55 60 Number of Units Price by Buyers

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Problem 4.5 Figure 4.5: Demand and Supply in Session 2 Problem 4.6 Figure 4.6: Demand and Supply in Session 3 \$0 \$10 \$20 \$30 \$40 \$50 0 5 10 15 20 25 30 35 40 45 50 55 60 Number of Units Price by Buyers \$0 \$10 \$20 \$30 \$40 \$50 0 5 10 15 20 25 30 35 40 45 50 55 60 Number of Units Price by Buyers
Problem 4.7 Session 1 Session 2 Session 3 Mean Price

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Unformatted text preview: Number of Transactions 20 10 10 Number of Units Consumed by Addicts 10 10 10 Number of Units Consumed by Casual Users 10 Total Amount of Money Spent on Drugs \$200.00 \$250.00 \$250.00 Total Revenue of Suppliers \$200.00 \$250.00 \$125.00 Total Profit of Demanders \$250.00 \$50.00 \$50.00 Total Profit of Suppliers \$0.00 \$0.00 \$0.00 Total Revenue of Police \$0.00 \$50.00 \$150.00 This document was created with Win2PDF available at http://www.daneprairie.com. The unregistered version of Win2PDF is for evaluation or non-commercial use only....
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