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# Here Are The Questions Question #1 Danny &quot;Dimes&quot; Donahue is a neighborhood's 9-year old entrepreneur. His most recent venture is selling

Hello, This is for Microeconomics class, its a homework assignment. There are 6 questions. All I need is what is missing the answers in the Blank Boxes Fill in the Blank Boxes. I just need the missing numbers in the boxes.
Here Are The Questions Question #1 Danny “Dimes” Donahue is a neighborhood’s 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of \$2.25 each, he sells 100. At a price of \$1.75 each, he sells 300. Instructions: Round your answer to one decimal place. Elasticity of demand is . Is demand elastic or inelastic over this price range? Demand is over price range. If demand had the same elasticity for a price decline from \$1.75 to \$1.25 as it does for the decline from \$2.25 to \$1.75, would cutting the price from \$1.75 to \$1.25 increase or decrease Danny’s total revenue? Cutting the price from \$1.75 to \$1.25 will Danny’s total revenue. Question #2 Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a unit from Courtney? If Bob buys a unit from Chad? If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved? Person Maximum Price Willing to Pay Person Minimum Acceptable Price Bob \$18 Carlos \$5 Barb 16 Courtney 7 Bill 14 Chuck 9 Bart 12 Cindy 11 Brent 10 Craig 13 Betty 8 Chad 15 Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Carlos? \$ Instructions: Enter a whole number as your answer.
What is the total surplus if Barb buys a unit from Courtney? \$ Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Chad? \$ Instructions: Enter a whole number as your answer. If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved? \$ Question #3 Lorena likes to play golf. The number of times per year that she plays depends on both the price of playing a round of golf as well as Lorena’s income and the cost of other types of entertainment—in particular, how much it costs to go see a movie instead of playing golf. The three demand schedules in the table below show how many rounds of golf per year Lorena will demand at each price under three different scenarios. In scenario D 1 , Lorena’s income is \$70,000 per year and movies cost \$13 each. In scenario D 2 , Lorena’s income is also \$70,000 per year, but the price of seeing a movie rises to \$15. And in scenario D 3 , Lorena’s income goes up to \$90,000 per year, while movies cost \$15. Scenario: D 1 D 2 D 3 Income per year: \$70,000 \$70,000 \$90,000 Movie Ticket Price: \$13 \$15 \$15 Rounds of Golf: Quantity Demanded Quantity Demanded Quantity Demanded Price = \$55 15 10 15 Price = \$40 25 15 30 Price = \$25 40 20 50 a. Using the data under D 1 and D 2 , calculate the cross elasticity of Lorena’s demand for golf at all three prices. (To do this, apply the midpoints approach to the cross elasticity of demand.) Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Cross elasticity of Lorena’s demand at the price of \$55 = Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Cross elasticity of Lorena’s demand at the price of \$40 = Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Cross elasticity of Lorena’s demand at the price of \$25 = Is the cross elasticity the same at all three prices?
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Here Are The Questions
Question #1
Danny “Dimes” Donahue is a neighborhood’s 9-year old entrepreneur. His most recent venture is selling homemade brownies
that he bakes himself. At a price of...

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