Table 4-13 The demand schedule below pertains to sandwiches demanded per week Ha
ID: 1124060 • Letter: T
Question
Table 4-13 The demand schedule below pertains to sandwiches demanded per week Harry's Darby's ake's Price Quantity Quantity Quantity Demanded Demanded Demanded $5 11. Refer to Table 4-13. Suppose Harry, Darby, and Jake are the only demanders of sandwiches and that the market demand violates the law of demand. Then, in the table, the value of x must be a. greater than or equal to 7. b. greater than or equal to 5. c. greater than or equal to 10. d. less than or equal to 5 Table 3-6 Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a consta rate Machine Minutes Needed to Make 1 Toothbrush Hairbrush Zimbabwe 3 10 12. Refer to Table 3-6. Which of the following combinations of toothbrushes and hairbrushes could Zimbabwe not produce in 120 minutes? a 5 toothbrushes and 11 hairbrushes b. 30 toothbrushes and 3 hairbrushes c. 10 toothbrushes and 9 hairbrushes d. 20 toothbrushes and 6 hairbrushesExplanation / Answer
Answer 11 - There are 3 consumers in the market. Individual demand of three buyers, Harry, Darby, and Juke make market demand. Summation of individual demand makes market demand. At price $3, the market demand is 10 sandwiches. Now price increase to $5 per sandwich. Since demand violates the law of demand therefore market demand must greater or equal to 10. At price $5 Harry demands 1 sandwich, Darby demands 2 sandwiches and Juke demands 'X' sandwich.
Summation of individual demand at price $5 must be greater or equal to 10 sandwiches.
10 = 1 + 2 + x
X = 7
Juke's demand of sandwiches must be greater or equal to 7 sandwiches.
Option A is the correct answer.
Answer 12 - Zimbabwe needs 3 machine minutes to make one units of toothbrush and 10 machine minutes to make one hairbrush. Now, Zimbabwe has 120 minutes. If Zimbabwe needs
5*3 + 10*11 = 125 minutes.
30*3 + 3*10 = 120 minutes
10*3 + 9*10 = 120 minutes
20*3 + 6*10 = 120 minutes
We can see clearly Zimbabwe cannot produce the combination of 3 toothbrush and 11 hairbrush.
Option A is the correct answer.
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