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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
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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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