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A 2.85 g lead weight, initially at 10.3 0C, is submerged

Chemistry: A Molecular Approach | 3rd Edition | ISBN: 9780321809247 | Authors: Nivaldo J. Tro ISBN: 9780321809247 1

Solution for problem 68E Chapter 6

Chemistry: A Molecular Approach | 3rd Edition

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Chemistry: A Molecular Approach | 3rd Edition | ISBN: 9780321809247 | Authors: Nivaldo J. Tro

Chemistry: A Molecular Approach | 3rd Edition

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Problem 68E

A 2.85 g lead weight, initially at 10.3 °C, is submerged in 7.55 g of water at 52.3 °C in an insulated container. What is the final temperature of both substances at thermal equilibrium?

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ECN212PriceDiscrimination SpringSEMESTER2016 Professor:Dr.WilliamFoster EliteNotetaker:Phoebe(phoebe@studysoup.com) 1. Price Discrimination ○ Definition ■ Selling same product at different prices to different customers ■ Firm with market power can use price discrimination to increase profit ■ Gives greater profit than single price strategy ■ The more inelastic of the demand, the higher the profit will be in a price discriminated market ■ Monopoly applies when demand curves are different in different markets ○ Arbitrage ■ Taking advantage of price differences for the same good in different markets by buying low in one marketing and selling high in another ■ Increases profits for smugglers ■ Reduces profits for price discrimination firms ■ Arbitrage activimust be prevented in order to increase profits ■ Some are easy to prevent ■ E.g. Services ○ Examples ■ Men vs Women products ■ Coupons ■ Student/Senior discount ■ Financial Aid in private colleges ■ Airline companies— Pay more when shorter notice ■ Business Traveler (more inelastic demand) ■ Vacationers (more elastic demand) ○ Effects 1 ■ Can increase output = increase total surplus = lesser deadweight loss ■ PPD can eliminate deadweight loss of monopoly ■ Can increase incentives to innovate and lower fixed costs ■ E.g. University / Movie / Music / Books ■ Having very different demand curves ■ Copyright = Monopoly 2. Perfect Price Discrimination (PPD) ○ aka first degree price discrimination ○ Almost impossible to happen ○ Each customers is charged with his/hers maximum willingness to buy ■ Zero consumer surplus ■ Zero deadweight loss ■ All surplus is producer surplus ○ Everybody pays a different price ○ Neither perfect competition and perfect price discrimination is inefficient 3. Tying ○ Base good is tied to a second good (variable good) ○ Allows firms to charge a higher price to consumers with a high willingness to pay; vice versa ○ Pricing base good lower than variable good ○ E.g. Printer & Printer ink 4. Bundling ○ aka Traditional price discrimination ○ Requires products to be bought together in a bundle or package ○ Can increase output / total surplus ○ Can increase innovation due to lower fixed cost (on customers) ○ Used when firms have more demand for the bundle than single parts ○ Used when arbitrage is too hard to prevent ○ Price increase without bundle (e.g. phone with carrier) ○ E.g. Microsoft Office, iW rk 2 ECN212Monopoly SpringSEMESTER2016 Professor:Dr.WilliamFoster EliteNotetaker:Phoebe(phoebe@studysoup.com) Perfect Competition ● Competitive Market Conditions ○ A lot of buyers and sellers ○ Goods produced by different companies are around the same (perfect substitute) ○ Few or no barriers to entry and exit ○ No singleseller or buyer has influence on market price ○ Everyone is selling at the same market price ○ Demand rise, market price rise, more firms join the industry, each firm produce more ● Application ○ Maximizing profit = minimizing cost (same process) ○ Stable individual demand (perfectly elastic/flat) ○ Stable market demand and supply ○ Firms don’get to decide aboprice ○ Firms doget to decide abo​uantity ○ Tiny part of the market (individuals) has no effect on the total market ○ Examples of competitive markets (different brands = same thing) ■ Gas ■ Water ■ Egg ■ Gold ● Demand shows value, supply shows cost 1 Maximizing Profit ● Terms ○ Profit = Total revenue ­ Total cost ○ Profit = (Price­Average Cost) ⨉ Quantity ■ Positive Profit = Price > Average Cost (MC>AC) ■ Negative Profit = Price < Average Cost (MC AC ○ Exit when P < AC ○ No exit or entry wheP=AC ■ Zero economic profit can be positive accounting profit (not the same thing) ■ Normal rate of return ● Short­run (uncertainty and sunk costs) ○ Depends on variable cost ○ Firms stay in operation if fixed cost > variable cost ○ Should be included the value of time / employees pay etc ○ Sunk Cost​ cannot be recovered shouldn’t be included to decision ○ Lifetime expected profi­ alternative resolution for the problem for a firm ● Entrepreneurs ○ Chasing profits by entering high profit industries / exiting low profit industries ○ Needs to innovate to earn above normal profit due to elimination principle ○ Creative Destruction = those who fail to adapt innovations ● Elimination Principle (Profits stays stable) ○ Above normal profits are eliminated by entry ○ Below normal profits are eliminated by xit 3 Industry Supply Curve ● Increasing Cost Industry ○ Costs increase when output increases ○ Upward sloping supply curve ○ E.g. Pollution deduction / Drilling oil ● Constant Cost Industry ○ Costs don’t change when output increases ○ Flat supply curve ● Decreasing Cost Industry ○ Costs decrease when output increases ○ Downward sloping supply curve Calculation ● Profit = Area of the box that is (price ­ average cost)×Quantity ● Consumer Surplus + Producer Surplus + Tax Paid = Total Surplus ● Consumer tax paid + Producer tax paid = Tax Paid ● Deadweight loss = (Consumer paid tax ­ producer paid tax)×(Q­Q*)× 0.5 4

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Chapter 6, Problem 68E is Solved
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Textbook: Chemistry: A Molecular Approach
Edition: 3
Author: Nivaldo J. Tro
ISBN: 9780321809247

Since the solution to 68E from 6 chapter was answered, more than 601 students have viewed the full step-by-step answer. This full solution covers the following key subjects: electron, atom, Energy, chlorine, fact. This expansive textbook survival guide covers 82 chapters, and 9454 solutions. This textbook survival guide was created for the textbook: Chemistry: A Molecular Approach, edition: 3. The answer to “?A 2.85 g lead weight, initially at 10.3 °C, is submerged in 7.55 g of water at 52.3 °C in an insulated container. What is the final temperature of both substances at thermal equilibrium?” is broken down into a number of easy to follow steps, and 34 words. Chemistry: A Molecular Approach was written by and is associated to the ISBN: 9780321809247. The full step-by-step solution to problem: 68E from chapter: 6 was answered by , our top Chemistry solution expert on 02/22/17, 04:35PM.

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A 2.85 g lead weight, initially at 10.3 0C, is submerged