Week 5 Analysis 1
Good Provision and Agents
A. A cup of coffee at a coffee shop
Yes, the good is a rival to tea.
Yes, the good can be excluded as not a necessity.
It is a private good; Private markets can provide this good.
ES2550: Week 4 Finding Optimal Consumption
The following table displays Georges consumption of soda pop and pretzels. The price of each soda pop
is $2.00 and the price of each pretzel is $5.00.
A. Fill in the missing total utility, marginal utility, and m
ES2550: Week 6 Diminishing Returns
Consider the values in the following table for the Winsome Widget Factory.
A. Fill in the formula for MP and AP at the top of the column in the gray section within the
B. Fill in the missing values for MP and AP i
Project Part 1
1.Barnes & Noble books 4.00 = Elastic
Coca Cola 1.22 = Elastic
Cigarettes 0.25 = Inelastic
Beer 0.23 = Inelastic
Gasoline 0.06 = Inelastic
1. Tax revenue collections will be in the following order:
ES2550: Week7 Profit Maximization
Task 1: Consider the following table of costs for the Winsome Widget Factory, which operates in
a perfectly competitive market. The market price faced by this firm is $6.00 per w
ES2550: Week 6
Calculating and Interpreting the Costs of Production
Part I. Consider the values in the following table for the Winsome Widget Factory.
Fill in the formula for AFC, AVC, ATC, and MC at the top of the column in the gray section within
Project Part 2
A. The United States can produce a sufficient amount of wingdings to meet demand with the
world price and tariff. However it would need to be seen if another country could do this
with a better opportunity cost. This