Show the initial point and the new point in the curve

Assignment Help Econometrics
Reference no: EM131199122

Suppose you belong to a tennis club that has a monthly fee of $100 and a charge of $5 per hour to play tennis.

a. Using Figure 1A.4on page 18as a model, prepare a table and draw a curve to show the relationship between the hours of tennis (on the horizontal axis) and the monthly club bill (on the vertical axis). Forthe table and graph, use 5, 10, 15, and 20 hours of tennis.

b. The slope of the curve is per .

c. Suppose you start with 10 hours of tennis and then decide to increase your tennis time by 3 hours. On your curve, show the initial point and the new point. By how much will your monthly bill increase?

d. Suppose you start with 10 hours and then decide to spend an additional $30 on tennis. On your curve, show the initial point and the new point. How many additional hours can you get?

Reference no: EM131199122

Questions Cloud

Which of them is likely to shift out arbocali production : Which of the following is most likely to shift out the Arbocali production possibility frontier?
Discuss how social and intimate relationships evolve : Identify various role changes that occur during early and middle adulthood. Examine the immediate and future impact of healthy and unhealthy habits practiced during early and middle adulthood.
Govt adopts a haig simons comprehensive income definition : Suppose that the government adopts a Haig-Simons comprehensive income definition.- Will this make employers more likely or less likely to offer employer-provided pension plans or health insurance coverage?
Purchase goods using pretax dollar increase decrease equity : Does allowing some people to purchase certain goods or services using pretax dollars increase or decrease equity in the U.S. tax system?
Show the initial point and the new point in the curve : Suppose you start with 10 hours and then decide to spend an additional $30 on tennis. On your curve, show the initial point and the new point. How many additional hours can you get?
How do you think you would handle the final moments : Describe in detail the thoughts and emotions you felt while imagining the scenario. If you did experience this event, how do you think you would handle the final moments? If you did experience this event, how would you describe your life up to this p..
Why would a company use trade secrets to protect their inven : Why would a company use trade secrets to protect their invention? Wouldn't it make more sense to patent something? See attached document Wolfe Electric, Inc. v. Duckworth as an example.
How events affect economies production possibility curve : an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.how these events will affect the economies production possibility curve
Estimate of the capm beta of commercial property : The market price of risk is 6% and the average risk-free rate has been 4%. What is the best estimate of the CAPM Beta of commercial property in Australia?

Reviews

Write a Review

Econometrics Questions & Answers

  Consider the following linear programming problemmin a

consider the following linear programming problemmin a 2bs.t.a 4blt or equal to 212a b gt or equal to 73a 1.5b lt or

  Explain the results of these more recent empirical tests

What general conclusion can be reached with respect to the utility and acceptance of the H-O model?

  What is the empirical evidence

What is the empirical evidence? What does Card argue is correct? What does Borjas argue is correct?

  What is the net loss from the merger

Compute the consumer loss associated with the merger. How does it compare to the increase in profit? What is the net loss from the merger?

  Determine the annual effective interest rate

You have just applied for a credit card with the following term and condition: You are to pay 13.9% APR, compounded monthly.If your current balance is $3000 and you skip payments for 2 months, what would be the total balance in your credit card stat..

  Determine best level of output and price for hair styling

In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q = 180 - 10P, where P is in dollars. The marginal cost function of all the small salons together is SMCF = 4..

  When is it most valuable to preserve a plant species

When is it most valuable to preserve a plant species?

  What is a wage-price spiral

Is it something undesirable? Explain. How can a wage-price spiral be avoided?

  What are the executive s assumptions

Willingness to Pay for Used Baseball Pitchers. Suppose a healthy baseball pitcher is worth $5 million per year to his team, compared to only $1 million per year for an unhealthy pitcher.

  Compute the unit manufacturing cost for the daytime shift

Venus Computer can produce 23,000 personal computersa year on its daytime shift. The fixed manufacturing costs per yearare $2million and the total labor cost is $9,109,000. To increaseits production to 46,000 computers per year

  Find the marginal cost of producing iphones

Market research at Apple Corporation has shown that the demand function for its new iPhone is as follows: QA = 3 - 0.02PA + 0.0002I + 0.01PS where QA is the quantity demanded (in thousands) of iPhones, PA is the price of an iPh..

  What is the required rate of return on collectibles stock

Collectibles Corp. has a beta of 2.5 and a standard deviation of returns of 20%. The return on the market portfolio is 15% and the risk free rate is 4%. According to CAPM, what is the required rate of return on Collectible's stock

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd