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Material Type: Assignment; Class: Prin of Microeconomics; Subject: Economics; University: Shepherd University; Term: Spring 2009;
Typology: Assignments
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You may write your answers in the spaces provided on this sheet. If you need extra space, use the backs of pages. Procedures for homework - You may use any written sources you want and work together to solve these problems, but must write up the answers yourself. If it is clear that two or more people have copied answers, I will divide the number of points received (out of 40 maximum points) evenly between all those who have copied. Please make a copy of your homework answers before you turn them in just in case I misplace your homework. This is especially important if you turn in homework late. Late homework - Homework is due during class on the designated day. If I receive your homework after the day it is due , TWO POINTS WILL BE DEDUCTED FOR EACH DAY LATE (INCLUDING WEEKENDS). No homework will be accepted after we discuss the answers or after I return graded homework, whichever occurs earlier. No excuses will be accepted for late homework. If you must miss class, you can drop your homework off at my office (or put in my mailbox), give it to someone who is coming to class, FAX it to me at 304-876-5193, or attach it to an e-mail: lkinney@shepherd.edu. TOTAL POINTS = 40
0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 0 100 200 300 400 500 600 700 800 900 1000 1100 Quantity of Potatoes (lbs.) Quantity of Fish (lbs.) a. Mark the combination 500 lbs. of fish and 800 lbs. of potatoes on the graph as point A. Comment on Atlantis’ ability to produce this combination. (4 points).
b. Gasoline market c. SUV market