Description

Question 1

  1. Figure 3-4

    Refer to Figure 3-4. If the current market price is $15, the market will achieve equilibrium by

    Question 11

    1. Figure 2-7

      Tesla opened its Gigafactory near Sparks, Nevada to produce lithium-ion batteries for both its automobiles and its Powerwall energy storage products. Figure 2-7 shows changes to its production possibilities frontier at the Gigafactory in response to new developments and different strategic production decisions.

      Refer to Figure 2-7. Assume a technological advancement greatly reduces the cost to produce batteries for its automobiles. This is best represented by the

      Question 12

      1. Figure 2-6

        Refer to Figure 2-6. If the economy is currently producing at point
        E, what is the gain in production if the economy moves to point
        D?

        Question 25

        1. A decrease in the equilibrium quantity for a product will result

          Question 33

          1. Figure 3-4

            Refer to Figure 3-4. If the price is $15,

            Question 38

            1. Figure 2-4



              Figure 2-4 shows various points on three different production possibilities frontiers for a nation.

              Refer to Figure 2-4. A movement from
              Y to
              Z

              Question 42

              1. A decrease in the equilibrium price for a product will result

                Allison’s Auto Art is a company that applies pinstripes to vehicles. Allison’s cost for a basic 1-color pinstriping job is $35, and she charges $95 for this service. For a total price of $175, Allison will apply a fancier 3-color pinstripe application to an automobile, a service that adds an additional $40 to the total cost of the package. What is Allison’s marginal benefit if she sells a basic 1-color job?