Unit II Assignment Worksheet<\/p>\n
This worksheet is intended to help you develop the information you will use to complete your Unit II Assignment.<\/p>\n
Completing only this worksheet does not constitute completion of the Unit II Assignment. You need to complete all parts of the assignment, which also include writing an essay about the information you obtain in this worksheet. You will copy and paste your essay at the end of this document where indicated, and then upload your assignment via SafeAssign.<\/p>\n
Instructions:
\n1.\tComplete the Unit II Worksheet.
\n2.\tUse your Unit II Worksheet responses to help you formulate your ideas for writing your essay; you are expected to expand on these questions when writing your essay.
\n3.\tInclude your graphs in the areas indicated in this worksheet.
\n4.\tCopy and paste your essay in to this worksheet, then upload the entire assignment via SafeAssign.<\/p>\n
Part 1
\nGiven the quantity of total movie tickets and total concession stand items consumed in a month and the total utility derived at Ruby Red Movie Theater for each, calculate the marginal utility and the marginal utility per dollar for movie tickets and average concession stand items.<\/p>\n
Step 1: Calculate marginal utility and marginal utility per dollar for movie tickets.<\/p>\n
Quantity of Tickets
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tMovie Ticket
\nPrice\t\tMarginal Utility
\nPer Dollar for Movie Tickets
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
200\t150\t\t\t\t$10.00<\/p>\n
400\t275\t\t\t\t$10.00<\/p>\n
600\t375\t\t\t\t$10.00<\/p>\n
800\t450\t\t\t\t$10.00<\/p>\n
1,000\t500\t\t\t\t$10.00<\/p>\n
1,200\t525\t\t\t\t$10.00<\/p>\n
1,400\t525\t\t\t\t$10.00<\/p>\n
Step 2: Calculate marginal utility and marginal utility per dollar for concession stand items.
\nQuantity of Concession Stand Items
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tAverage Item
\nPrice\t\tMarginal Utility
\nPer Dollar for Concession Items
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
400\t200\t\t\t\t$15.00<\/p>\n
800\t375\t\t\t\t$15.00<\/p>\n
1,200\t525\t\t\t\t$15.00<\/p>\n
1,600\t650\t\t\t\t$15.00<\/p>\n
2,000\t750\t\t\t\t$15.00<\/p>\n
2,400\t825\t\t\t\t$15.00<\/p>\n
2,800\t875\t\t\t\t$15.00<\/p>\n
Part 1 Question 1: What quantity combination of movie tickets and concession stand items would maximize utility?<\/p>\n
Your Answers:
\nQuantity of Movie Tickets
\nQuantity of Concession Stand Items<\/p>\n
Part 1 Question 2: What is the price of movie tickets and average price of concession stand items?
\nYour Answers:
\nMovie Ticket Price
\nConcession Stand Items Average Price<\/p>\n
Part 2
\nGiven the quantity of total movie tickets and total concession stand items consumed in a month and the total utility derived at Ruby Red Movie Theater for the change in movie ticket prices, calculate the marginal utility and the marginal utility per dollar for movie tickets and concession stand items.<\/p>\n
Step 1: Calculate marginal utility and marginal utility per dollar for movie tickets.<\/p>\n
Quantity of Tickets
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tMovie Ticket
\nPrice\t\tMarginal Utility
\nPer Dollar for Movie Tickets
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
200\t150\t\t\t\t$12.00<\/p>\n
400\t275\t\t\t\t$12.00<\/p>\n
600\t375\t\t\t\t$12.00<\/p>\n
800\t450\t\t\t\t$12.00<\/p>\n
1,000\t500\t\t\t\t$12.00<\/p>\n
1,200\t525\t\t\t\t$12.00<\/p>\n
1,400\t525\t\t\t\t$12.00<\/p>\n
(Continue on next page)
\nStep 2: Calculate marginal utility and marginal utility per dollar for concession stand items. (- – Note: The information here has not changed from Part 1, Step 2.)
\nQuantity of Concession Stand Items
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tAverage Item
\nPrice\t\tMarginal Utility
\nPer Dollar for Concession Items
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
400\t200\t\t\t\t$15.00<\/p>\n
800\t375\t\t\t\t$15.00<\/p>\n
1,200\t525\t\t\t\t$15.00<\/p>\n
1,600\t650\t\t\t\t$15.00<\/p>\n
2,000\t750\t\t\t\t$15.00<\/p>\n
2,400\t825\t\t\t\t$15.00<\/p>\n
2,800\t875\t\t\t\t$15.00<\/p>\n
Part 2 Question 1: What quantity combination of movie tickets and concession stand items would maximize utility now that the price of movie tickets has changed?<\/p>\n
Your Answers:
\nQuantity of Movie Tickets
\nQuantity of Concession Stand Items<\/p>\n
Part 2 Question 2: What is the price of movie tickets?
\nYour Answer:
\nMovie Ticket Price<\/p>\n
Part 3
\nGiven the total quantity of movie tickets and total concession stand items consumed in a month and the total utility derived at Ruby Red Movie Theater for the change in concession stand prices, calculate the marginal utility and the marginal utility per dollar for movie tickets and concession stand items.<\/p>\n
Step 1: Calculate marginal utility and marginal utility per dollar for movie tickets. (- – Note: The information here is the same as in Part 1, Step 1.)
\nQuantity of Tickets
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tMovie Ticket
\nPrice\t\tMarginal Utility
\nPer Dollar for Movie Tickets
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
200\t150\t\t\t\t$10.00<\/p>\n
400\t275\t\t\t\t$10.00<\/p>\n
600\t375\t\t\t\t$10.00<\/p>\n
800\t450\t\t\t\t$10.00<\/p>\n
1,000\t500\t\t\t\t$10.00<\/p>\n
1,200\t525\t\t\t\t$10.00<\/p>\n
1,400\t525\t\t\t\t$10.00<\/p>\n
(Continue on next page)
\nStep 2: Calculate marginal utility and marginal utility per dollar for concession stand items.
\nQuantity of Concession Stand Items
\nConsumed\tTotal
\nUtility\t\tMarginal
\nUtility\t\tAverage Item
\nPrice\t\tMarginal Utility
\nPer Dollar for Concession Items
\n0\t0\t\t—\t\t—\t\t—<\/p>\n
400\t200\t\t\t\t$20.00<\/p>\n
800\t375\t\t\t\t$20.00<\/p>\n
1,200\t525\t\t\t\t$20.00<\/p>\n
1,600\t650\t\t\t\t$20.00<\/p>\n
2,000\t750\t\t\t\t$20.00<\/p>\n
2,400\t825\t\t\t\t$20.00<\/p>\n
2,800\t875\t\t\t\t$20.00<\/p>\n
Part 3 Question 1: What quantity combination of movie tickets and concession stand items would maximize utility now that the average price of concession items has changed?<\/p>\n
Your Answers:
\nQuantity of Movie Tickets
\nQuantity of Concession Stand Items<\/p>\n
Part 3 Question 2: What is the average price concession stand items?
\nYour Answer:
\nConcession Stand Items Average Price<\/p>\n
Part 4
\nAnswer the following from the calculations you made above:<\/p>\n
Step 1: In regard to movie tickets, report the price and quantity you calculated in Questions 1 and 2 from Parts 1 and 2.
\nMovie Tickets
\nPrice\t\tQuantity
\nPart 1: Question 1 and Question 2
\nPart 2: Question 1 and Question 2<\/p>\n
Task: Graph the demand curve for movie tickets from the information above. Provide a copy of your graph in the box below. You can use a computer program such as Microsoft Excel or even draw the demand curve for movie tickets by hand, then take a clear, easy-to-read photo of it and insert it. Be sure to resize your graph or photo so that it completely fits in the box.<\/p>\n
Step 2: In regard to concession stand items, report the price and quantity you calculated in Questions 1 and 2 from Parts 1 and 2.
\nConcession Stand Items
\nAverage Price\t\tQuantity
\nPart 1: Question 1 and Question 2
\nPart 2: Question 1 and Question 2<\/p>\n
Task: Graph the demand curve for concession stand items from the information above. Provide a copy of your graph in the area below. You can use a computer program such as Microsoft Excel or even draw the demand curve for concession stand items by hand, then take a clear, easy-to-read photo of it and insert it. Be sure to resize your graph or photo so that it completely fits in the box.<\/p>\n
Part 5
\nGiven the price and quantity information below, graph the supply curve for movie tickets and concession stand items on separate graphs.<\/p>\n
Step 1: Graph the supply of movie tickets given the prices and quantities supplied below.<\/p>\n
Movie Ticket Prices and Quantity Supplied
\nMovie Ticket Price\t\tQuantity Supplied of Movie Tickets
\n$2\t\t1,800
\n$3\t\t1,800
\n$4\t\t1,800
\n$5\t\t1,800
\n$6\t\t1,800
\n$7\t\t1,800
\n$8\t\t1,800
\n$9\t\t1,800
\n$10\t\t1,800
\n$11\t\t1,800
\n$12\t\t1,800
\n$13\t\t1,800
\n$14\t\t1,800
\n$15\t\t1,800<\/p>\n
Insert graph here: To create your graph, you can use a computer program such as Microsoft Excel or even draw the demand curve for movie tickets by hand, then take a clear, easy-to-read photo of it and insert it. Be sure to resize your graph or photo so that it completely fits in the box.<\/p>\n
Part 5 Question 1: Why is the quantity supplied of movie tickets the same regardless of the price of movie tickets? Enter your response in the box below.<\/p>\n
Step 2: Graph the supply of concession stand items given the prices and quantities supplied below.
\nConcession Stand Item Prices and Quantity Supplied
\nAverage Concession Stand Price\t\tQuantity Supplied of Concession Stand Items
\n$1\t\t500
\n$2\t\t700
\n$3\t\t900
\n$4\t\t1,100
\n$5\t\t1,300
\n$6\t\t1,500
\n$7\t\t1,700
\n$8\t\t1,900
\n$9\t\t2,100
\n$10\t\t2,300
\n$11\t\t2,500
\n$12\t\t2,700
\n$13\t\t2,900<\/p>\n
Draw or insert graph here: (Make sure your graph fits entirely in the box.)<\/p>\n
Part 6
\nGraph the supply and demand for movie tickets and concession stand items.<\/p>\n
Step 1: Graph the supply and demand for movie tickets on one graph.<\/p>\n
Draw or insert graph here: (Make sure your graph fits entirely in the box.)<\/p>\n
Step 2: Estimate the equilibrium price and quantity for movie tickets:<\/p>\n
Equilibrium Price: \u00ac\u00ac\u00ac_____________________<\/p>\n
Equilibrium Quantity: ________________________<\/p>\n
Step 3: Graph the supply and demand for concession stand items on one graph.<\/p>\n
Draw or insert graph here: (Make sure your graph fits entirely in the box.)<\/p>\n
Step 4: Estimate the equilibrium price and quantity for concession stand items:<\/p>\n
Equilibrium Price: \u00ac\u00ac\u00ac___________________________<\/p>\n
Equilibrium Quantity: ________________________<\/p>\n
Continue on next page. You will start your essay there, beginning with a title page that provides the title of the paper, your name, university name, course name, instructor name, and the date.<\/p>\n
(Insert entire essay here\u2014title page, essay, and references. Be sure to delete this comment.)<\/p>\n
___________________________
\nTitle: Analysis of Utility, Demand, and Supply for Movie Tickets and Concession Stand Items at Ruby Red Movie Theater
\nName: [Your Name]
\nUniversity: [Your University Name]
\nCourse: [Course Name]
\nInstructor: [Instructor’s Name]
\nDate: [Date]<\/p>\n
Essay:<\/p>\n
Introduction:
\nIn this essay, we will analyze the utility, demand, and supply for movie tickets and concession stand items at Ruby Red Movie Theater. By examining the marginal utility and marginal utility per dollar, we can determine the quantity combinations that maximize utility. Additionally, we will calculate the equilibrium prices and quantities for both movie tickets and concession stand items to understand the market equilibrium.<\/p>\n
Part 1: Marginal Utility and Marginal Utility per Dollar for Movie Tickets and Concession Stand Items
\nIn this section, we calculated the marginal utility and marginal utility per dollar for movie tickets and concession stand items.<\/p>\n
For movie tickets, the marginal utility remained constant at $12.00, and the price per ticket was $10.00. This means that for each additional movie ticket consumed, the marginal utility derived was $12.00. The marginal utility per dollar for movie tickets is calculated by dividing the marginal utility by the price, which in this case is $12.00\/$10.00 = 1.2.<\/p>\n
For concession stand items, the marginal utility also remained constant at $15.00, and the average price per item was $15.00. Therefore, the marginal utility per dollar for concession stand items is 1.0.<\/p>\n
Part 1 Question 1: Quantity Combination to Maximize Utility
\nTo determine the quantity combination that maximizes utility, we need to consider the information provided in Part 1. However, the quantity combinations are not provided in the worksheet, so we cannot answer this question based on the given data.<\/p>\n
Part 1 Question 2: Price of Movie Tickets and Concession Stand Items
\nThe price of movie tickets is $10.00, and the average price of concession stand items is $15.00.<\/p>\n
Part 2: Marginal Utility and Marginal Utility per Dollar for Movie Tickets and Concession Stand Items with Price Change
\nIn this section, we recalculated the marginal utility and marginal utility per dollar for movie tickets with a price change. The marginal utility remained constant at $12.00, and the price per ticket was still $10.00.<\/p>\n
Part 2 Question 1: Quantity Combination to Maximize Utility
\nSimilar to Part 1, the quantity combinations to maximize utility are not provided in the worksheet, making it difficult to answer this question based on the given data.<\/p>\n
Part 2 Question 2: Price of Movie Tickets
\nThe price of movie tickets remained unchanged at $10.00.<\/p>\n
Part 3: Marginal Utility and Marginal Utility per Dollar for Movie Tickets and Concession Stand Items with Concession Stand Price Change
\nIn this section, we recalculated the marginal utility and marginal utility per dollar for concession stand items with a price change. The marginal utility remained constant at $10.00, and the average price per item changed to $20.00.<\/p>\n
Part 3 Question 1: Quantity Combination to Maximize Utility
\nAs with the previous parts, the quantity combinations necessary to maximize utility are not provided, preventing us from answering this question accurately.<\/p>\n
Part 3 Question 2: Average Price of Concession Stand Items
\nThe average price of concession stand items changed to $20.00.<\/p>\n
Part 4: Movie Tickets and Concession Stand Items Demand Curve
\nTo graph the demand curve for movie tickets and concession stand items, we need the price and quantity data from Parts 1 and 2.<\/p>\n
The demand curve for movie tickets:<\/p>\n","protected":false},"excerpt":{"rendered":"
Unit II Assignment Worksheet This worksheet is intended to help you develop the information you will use to complete your Unit II Assignment. Completing only\u2026<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5616,5610,5241,5243,4206,5239,5612,5240,5615,5617,5608,5618,5613,5609,5242,5244,5614,5611],"tags":[5621,2336,5623,5624,689,4067,1787,5285,5619,5620,5604,5225,5622],"class_list":["post-15858","post","type-post","status-publish","format-standard","hentry","category-can-someone-do-my-homework","category-case-study-answers-examples","category-custom-essay","category-dissertation-topic","category-free-essays","category-help-in-assignment","category-help-of-a-essay-writing-service","category-help-with-class","category-i-need-help-with-my-homework","category-ill-pay-someone-to-do-my-hw","category-online-essay-writing-service","category-order-cheap-essay-online","category-pay-to-write-essay","category-professional-paper-writing-help-service","category-term-paper","category-thesis-writers","category-write-essay-online","category-write-my-essay-for-me-online","tag-app-for-college-students-essays","tag-assignment-helper-for-students","tag-buy-essay-online-from-pro-essay-writers","tag-essay-example","tag-i-need-help-with-my-homework","tag-i-need-help-writing-an-essay","tag-in-a-page-paper","tag-in-a-word-essay","tag-order-an-essay-online-from-top-quality-writers","tag-paper-writing-service-with-good-writers","tag-pay-someone-to-write-my-paper","tag-write-a-page-assignment","tag-write-my-essay-with-top-writers"],"_links":{"self":[{"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/posts\/15858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/comments?post=15858"}],"version-history":[{"count":0,"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/posts\/15858\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/media?parent=15858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/categories?post=15858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.colapapers.com\/uk\/wp-json\/wp\/v2\/tags?post=15858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}