22 Jul HOW MANY BURRITOS WOULD I BUY.
(1) The price of Steak Burritos in Chipotle here in Davis is $5.50 . I would be willing to pay $10 Show more (1) The price of Steak Burritos in Chipotle here in Davis is $5.50 . I would be willing to pay $10 dollars for the first Steak Burrito $8 for the second $6.00 for the third $4.00 for the fourth and nothing for the fifth or more burritos . a. How many Burritos would I buy. (Ignore taxes here) b. Compute my total consumer surplus and illustrate using a graph. c. If the price of steak burritos fall to $3.00 how many burritos would I buy and what is change in my total consumer surplus compared to the situation in b. Illustrate using a graph. (2)Now the following demand function for good 1 : q1= 20-2p1+4Y (a) Initially the equilibrium price is $=2 and income is $10. What is the total consumer surplus at equilibrium point? What if the demand function is q1=p1^-2Y (b) If the government imposes consumption tax on the good that raised prices by $1 by how much will the consumers surplus change? (c) Show the relationship between EV CV and consumer surplus using compensated and uncompensated demand curves. (d) If you your income is $ 1millionyou spend $100 on good 1 and income elasticity was 0.02 does it matter whether you use EV CV or consumer surplus to measure the change in consumer welfare in (b). Show less
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.