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Get Full Access to Principles Of Economics - 6 Edition - Chapter 7 - Problem Problems and applications 7.10
Get Full Access to Principles Of Economics - 6 Edition - Chapter 7 - Problem Problems and applications 7.10

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Textbooks / Business / Principles of Economics 6 / Chapter 7 / Problem Problems and Applications 7.10

# . A friend of yours is considering two cell phone service providers. Provider A charges

ISBN: 9780538453059 472

## Solution for problem Problems and Applications 7.10 Chapter 7

Principles of Economics | 6th Edition

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Problem Problems and Applications 7.10

. A friend of yours is considering two cell phone service providers. Provider A charges $120 per month for the service regardless of the number of phone calls made. Provider B does not have a fixed service fee but instead charges$1 per minute for calls. Your friends monthly demand for minutes of calling is given by the equation QD 5 150 2 50P, where P is the price of a minute. a. With each provider, what is the cost to your friend of an extra minute on the phone? b. In light of your answer to (a), how many minutes would your friend talk on the phone with each provider? c. How much would he end up paying each provider every month? d. How much consumer surplus would he obtain with each provider? (Hint: Graph the demand curve and recall the formula for the area of a triangle.) e. Which provider would you recommend that your friend choose? Why?

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How to Create and Use Socratic Seminars Table of Contents Definition of Socratic Seminars Purpose of Socratic Seminars Advantages of Socratic Seminars Steps for Socratic Seminars Rules and Roles for Socratic Seminars Management Tips for Socratic Seminars Options for Assessing and Evaluating Student Work in Socratic Seminars Bibliography Definition of Socratic Seminars ASocratic Seminar is a scholarly discussion of an essential question in which student opinions are shared, proven, refuted, and refined through dialogue with other students. In classes of more than fifteen students, the fishbowl format for Socratic seminars should be used. In this format, the teacher or seminar leader facilitates the discussion. Only half the class,

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