Chapter 6 work

Questions for Critical Thinking 6

Salvatore’s Chapter 12:

a. Discussion Questions: 7, 11, and 13.

b. Problems: 12 and spreadsheet problem 1 (p. 523).

Note:

1. P12: You could use figure 12-4 as a reference (p. 492).

2. Spreadsheet problem 1: This is the demand curve for Q=14-2P.

Froeb et al.’s Chapter 14:

a. Individual problems: 14–1 and 14–4.

Salvatore’s Chapter 13:

a. Discussion Questions: 8 and 10.

b. Problems: 12, 13, and 15.

Note:

1. P12: Need to calculate Herfindahl index.

2. P13: Use the internet search or other sources to answer this problem.

3. P15: (b) A lump sum tax is a fixed cost, (c) a $3 per unit tax is a variable cost which will cause AC and MC to increase by $3.

Submit this assignment by 11:59 p.m. (ET) on Sunday of Module/Week 6.