economics

Most popular questions
  1. Economics

    An industry currently has 100 firms, all of which have fixed costs of $16 and avg. variable cost as follows: Q Avg. Variable Cost ($) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is $10. what is the total quantity

    asked by Maggie on December 13, 2006
  2. Economics

    Economics basics Practice 1. How does scarcity affect producers? A- Limited costs prevent producers from hiking prices. B- Limited demand prevents producers from offering low prices. C- Limited time prevents producers from finding the best employees. D-

    asked by Brons on May 10, 2017
  3. Economics

    How does scarcity affect producers? A.) Limited costs prevent producers from hiking prices. * B.) Limited demand prevents producers from offering low prices. C.) Limited time prevents producers from finding the best employees. D.) Limited resources prevent

    asked by . on May 18, 2017
  4. Economics

    you are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit? If the firm is profit maximizing, is the

    asked by Sally on December 5, 2006
  5. economics

    Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $600,000. The

    asked by peter on February 10, 2012
  6. economics

    wireless high speed internet is provided for free in the airport of the city of communityville a)At first, only a few people use the service. What type a good is this and why? b) Eventually, as more find out about the service and start using it, the spend

    asked by Mankiw on January 5, 2012
  7. Economics

    PROBLEM SOLVING 1: "ANDREA'S SOFTWARE BUSINESS" I. Complete the following table: DO THE MATH Data Number of Programs Total Fixed Costs Total Variable Costs Total Costs Marginal Costs Average Fixed Costs Average Variable Costs Average Total Costs 0 $60 $0

    asked by Timithy on December 4, 2012
  8. Economics

    Questions: Are the following workers more likely to experience short-term or long-term unemployment? Explain. a. A construction worker laid off because of bad weather. b. A manufacturing worker who loses her job at a plant in an isolated area. c. A

    asked by Sarah on March 24, 2007
  9. economics

    7. Which situation is more likely to occur in a market economy than a command economy? A. People line up for cheap but scarce products. B. A student is guaranteed a job out of college. C. An inventor designs and produces a new type of car. D. A committee

    asked by Anonymous on April 13, 2017
  10. Economics

    Two firms produce the same good and compete against each other in a Cournot market. The market demand for their product is P = 204 - 4Q, and each firm has a constant marginal cost of $12 per unit. MR1 = 204 - 8q1 - 4q2. Let q1 be the output produced by

    asked by Cole on April 11, 2015
  11. Economics

    The short-run cost function of a firm is as follows: TC = 200 + 5Q + 2Q2 Where TC = Total Cost Q = Physical units of the product of the firm What would be the level of optimum output?

    asked by Shiv on June 30, 2018
  12. economics

    If Sarah opens a savings account that has a yearly simple interest rate of 15%, how much would Sarah have total if she deposits $1500 at the end of the year?

    asked by susy on September 25, 2012
  13. Economics

    . Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost $8 $9 $10 $11 $13 $19 $27 $37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize

    asked by SMsm on June 7, 2008
  14. Economics

    1. Use the table below to predict what would happen if airlines and baseball stadiums priced all seats the same instead of using variable-pricing. What would happen to the number of tickets sold? What would happen to the total revenue from ticket sales?

    asked by Confuzzled on February 10, 2018
  15. Economics

    Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2006 they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2007, they buy 75 heads of cauliflower

    asked by Sarah on April 2, 2007
  16. Economics

    Can someone check my answers? "Explain how unemployment affects the following groups. Give at least 3 examples for each of the groups; Laborers, Businesses, and Government" Laborers: 1) No longer has a job 2) Families can hurt from lack of money 3)Poor

    asked by Emma on November 11, 2015
  17. Economics

    2. Identify three decisions that you (micro) have made recently. 3. Identify three decisions that our government (macro) has made recently. Use the internet, the newspaper, or television news to research this information. 4. List three resources that you

    asked by Anonymous on January 31, 2017
  18. Economics

    Suppose a university decides to alter its tuition schedule by separating its students based on how many years of college they have completed. Most university programs require four years to complete. First-year students would get a 13% tuition reduction.

    asked by Max on October 17, 2017
  19. Economics

    17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 10% to $18, consumer surplus: Increases or decreases by $__?

    asked by Anonymous on April 25, 2015
  20. economics

    . Predicting Consequences Use the table below to predict what would happen if airlines and baseball stadiums priced all seats the same instead of using variable pricing. What would happen to the number of tickets sold? What would happen to the total

    asked by Kristy on February 23, 2017
  21. economics

    can someone explain the relationship between consumer expectations and economic performance? Could use some help.

    asked by Lee on October 31, 2012
  22. Economics

    3. Suppose the Clean Springs Water Company has a monopoly on bottled water sales in California. If the price of tap water increases, what is the change in Clean Springs' profit-maximizing level of output, price, and profit? Explain in words and with a

    asked by Mariah on December 3, 2006
  23. Economics

    7. Suppose there are two possible income distributions in a society of ten people. In the first distribution, nine people have incomes of $30,000 and one person has an income of $10,000. In the second distribution, all ten people have incomes of $25,000.

    asked by Sarah on March 8, 2007
  24. Economics

    3. Suppose the Clean Springs Water Company has a monopoly on bottled water sales. If the price of tap water increases, what is the change in Clean Water’s profit-maximizing levels of output, price, and profit? Explain in words and with a graph. Take a

    asked by Sally on December 1, 2006
  25. economics

    Suppose that you buy a bond for $100 that pays 4 percent interest per year. How much money will you have earned when the bond reaches maturity in five years?

    asked by anonymous on December 10, 2007
  26. Economics

    6. The chapter uses the analogy of a "leaky bucket" to explain one constraint on the redistribution of income. a. What elements of the U.S. system for redistributing income create the leaks in the bucket? Be specific. I would think it would be “people

    asked by Sarah on March 5, 2007
  27. economics

    Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. it shows Mauricio's initial budget constraint. The price per unicycle is $120 and per monkey is $90. what happens to Mauricio's

    asked by marg on October 10, 2014
  28. economics

    Suppose that people consume only three goods, as shown in this table: (5 Marks) Tennis Balls Tennis Racquets Gatorade 1998 price $2 $40 $1 1998 quantity 100 10 200 1999 price $2 $60 $2 1999 quantity 100 10 200 What is the percentage change in the price of

    asked by shelby on September 25, 2006
  29. economics

    Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $600,000. The

    asked by nan on February 9, 2012
  30. Economics

    Suppose Honda's total cost of producing 4 cars is $225,000 and its total cost of producing 5 cars is $250,000 a)What is the average total cost of producing 5 cars b)What is the marginal cost of the fifth car? c)Draw the marginal cost curve and the average

    asked by Malima on August 13, 2014
  31. economics

    Question 1. An accurate statement about the Great Depression would be that? A. it was a recession that became a depression because of World War II. B. it was set off because of a sharp and unexpected rise in interest rates. C. it was the most severe

    asked by Lonly on February 10, 2011
  32. economics

    2. A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company¡¯s anticipated demand over the lifetime of the bridge: Price per crossing ($) 8 7 6 5 4

    asked by tianbai on November 13, 2007
  33. economics

    you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satelluite

    asked by justin on January 21, 2014
  34. economics

    If someone could help me with this question, that would really help. I'm just not sure what the formula would be? Suppose a market basket of goods and services includes the goods for two successive years. According to the table, between the years 2012 and

    asked by phoebe on February 9, 2015
  35. economics

    The participation of women in the U.S. labor force has risen dramatically since 1970. a. How do you think this rise affected GDP? b. Now imagine a measure of well-being that includes time spent working in the home and taking leisure. How would the change

    asked by TC on November 11, 2010
  36. Economics

    5. (Ch. 17 # 5) Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. a. Draw a diagram showing Sparkle’s demand curve, marginal revenue curve, average cost curve, and marginal cost curve. Label Sparkle’s

    asked by Amanda on April 8, 2007
  37. Economics

    Explain how each of the following people would talk about scarcity and trade-offs. a) The President of the United States: b) The leader of a developing nation. c) A U.S. citizen whose income is in the top one percent. d) A U.S. citizen whose income is in

    asked by Anonymous on August 20, 2009
  38. Economics

    A monopoly firm faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost. You may wish to arrive at the answers

    asked by Bob on May 3, 2016
  39. economics

    a beautiful girl 22 years young has just graduated from college. She accepts a good job and desire to establish her own retirement fund. At the end of each year there after she plans to deposit 2000 in the fund out 15% annual . How old will she when the

    asked by jecren on August 15, 2017
  40. Economics

    Harold owns a cranberry bog in which he grows cranberries. Harold’s farm is a competitive, profit-maximizing firm. As such, Harold much decide (i): how many cranberries to sell. (ii): what price to charge for his cranberries. (iii): what wages to

    asked by Keaton on November 29, 2011
  41. economics

    This is going to be really long, but I want to see if my answers are correct. This is problem number 10.10 in my Intermediate Microeconomics book. A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an

    asked by sleepy on November 14, 2007
  42. Economics

    Injections into the income-expenditure stream include: a) investment and imports. b) investment and exports. c) transfers and imports. d) transfers and exports.

    asked by Archbold on August 28, 2016
  43. Economics

    Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by: q = 60 - (1/2)p, where q is quantity sold per week. The firm's marginal cost curve is given by: MC = 60. 1. How much will the firm produce in the short

    asked by Cyd on July 22, 2018
  44. Economics

    1. Your roommate's long hours in chem lab finally paid off--she discovered a secret formula that lets people do an hour's worth of studying in 5 minutes. So far, she's sold 200 doses and faces the following average-total-cost schedule: Q = 199 & ATC = $199

    asked by Mariah on November 19, 2006
  45. economics

    A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit? b. what is the marginal cost? c. what is its average

    asked by jenny on September 20, 2011
  46. Economics

    6. Show the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs. a. Congress buys personal computers for all American college students. Wouldn't the demand curve shift to the right while the

    asked by Mariah on December 4, 2006
  47. Economics

    Given the following diagrams: Q1 = 16 bags. Q2 = 11 bags. Q3 = 23 bags. The market equilibrium price is $53 per bag. The price at point a is $85 per bag. The price at point c is $5 per bag. The price at point d is $63 per bag. The price at point e is $38

    asked by YUKA on March 2, 2016
  48. Economics

    Suppose the price elasticity of demand for a novel translated into English is perfectly inelastic. Assume the initial price of the novel is $24 and the quantity demanded is 222 copies per year. If the price of the novel increases by $3, then the quantity

    asked by Cole on September 27, 2015
  49. economics

    What was Marx's purpose in writing this essay? Does he succeed in getting his point across?

    asked by 2phoneeeeee on November 7, 2014
  50. economics

    What is abnormal supply curve and diagram

    asked by nifty on October 24, 2016
  51. economics

    Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic,

    asked by steve on September 14, 2012
  52. economics

    Given demand curve of the monopolist :Q=30-0.3P,& given the cost function C=2Q2+20Q+10, a)find the profit maximizing level of output &price b)determine the max possible profit. c)check for the 2nd order condition.

    asked by jara on March 29, 2017
  53. Economics

    advantages and disadvantages of allocating resources through the public sector

    asked by Sarah on January 30, 2010
  54. Economics

    A 20-year-old student decided to set aside $100 on his 21st birthday for investment. Each subsequent year through his 55th birthday, he plans to increase the investment on a $100 arithmetic gradient. He will not set aside additional money after his 55th

    asked by NEED HELP!!!! on October 29, 2014
  55. Economics

    As the aggregate price level falls, the number of domestic products purchased by foreigners will [rise], causing the quantity of domestic output demanded to [rise]. This is known as the [foreign purchases effect]. The first two blanks can be rise,fall or

    asked by Jake on March 6, 2011
  56. ECONOMICS

    Suppose you are a typical person in the U.S. economy. You pay 4 percent of your income in state income tax and 15.3 percent of your labor earnings in federal payroll taxes (employer and employee shares combined). You also pay federal income taxes as in

    asked by Anonymous on April 22, 2010
  57. economics

    Suppose that the company Mama's Pies adds another store to sell its pastries. Supposed that it costs $400,000 to build the new store and assume that the new store will generate revenues of $450,000. What is the rate of return on this investment?

    asked by marry on February 14, 2012
  58. economics

    The following information applies to the market for a particular items in the absence of a unit excise tax: Price($ per unit) Quantity Supplied Quantity Demanded 4 50 200 5 75 175 6 100 150 7 125 125 8 150 100 9 175 75 According to the information above,

    asked by Anonymous on October 14, 2010
  59. Economics

    which of the following changes in trade would produce the greatest increase in gdp? increase exportsm& increase imports increase exports & decrease imports decrease exports & increase imports decrease exports & decrease imports my answer is the 2nd one

    asked by Steve on December 3, 2017
  60. Economics

    10. An industry currently has 100 firms, all of which have fixed cost of $16 and average variable cost as follows: Quantity / Average variable cost: (1/$1),(2,$2), (3,$3), (4,$4), (5,$5), and (6,$6) b. The price is currently $10. What is the total quantity

    asked by Mariah on November 28, 2006
  61. Economics

    Jim buys only milk and cookies. a. In year 1, Jim earns $100, milk costs $2 per quart, and cookies cost $4 per dozen. Draw Jim's budget constraint.

    asked by Amany on September 14, 2011
  62. Economics

    Describe a specific event that would make each of the following happen to a production possibilities graph. (a) a point moves down to the (b) the frontier shifts to the right:

    asked by Anonymous on August 30, 2009
  63. Economics

    a firm in a purely competitive industry is currently producing a 1000 unir per day at a total cost of $450. if the firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will be $275. Requirements:

    asked by Mary on January 27, 2013
  64. Economics

    Suppose that there are 1,000 hot-pretzel stands operating in Toronto. Each stand has the usual U-shaped average total cost curve. Both the market demand curve and the supply curve for pretzels are linear, and the market for pretzels is in long-run

    asked by Mitch on December 4, 2016
  65. Economics

    Beachfront resorts have inelastic supply, and automobiles have an elastic supply. Suppose that a rise in population doubles the demand for both products (that is, the quantity demanded at each price is twice what it was). a. What happens to the equilibrium

    asked by Shelle on July 10, 2008
  66. Economics

    How do falling prices affect supply? I'm having a hard time between either the supply curve moves to the left and the quantity demanded rises. I think the answer is that the quantity demanded rises.

    asked by Steve on August 17, 2017
  67. Economics

    Why do people routinely stuff themselves at all-you-can-eat buffets? Explain in terms of both utility and demand theories. At any level, the marginal cost of take another bite at an all-you-can-eat place is zero. In terms of utility, a person should

    asked by Kayla on February 4, 2007
  68. Economics

    Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run. c. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the short run? In the long

    asked by Jon on October 6, 2006
  69. economics

    Kimberly works for a well known financial company as a sales representative. She earns a small base salary but receives commission off every product she sells. Kimberly has basic living expenses in addition to a student loan. She wants to start adding to

    asked by john on January 16, 2013
  70. economics

    Could someone check my work? Please When the government attempts to cover large deficits by creating more money, what is the probable result called? government borrowing hyperinflation (my choice) excess currency full employment 2. What is one of the major

    asked by Lee on November 6, 2012
  71. economics

    Mauricio has a circus act, and he has a budget of $720 to spend on monkeys and unicycles. The cost of a unicycle is $120 and the cost of a monkey is $90. where would you place point a and b the quantity of monkeys at max is 10 and quantity of unicycles are

    asked by marg on October 10, 2014
  72. Economics

    A fishing boat owner brings 50,000 fish to market and the market price is $4 per fish. Her average variable cost of 50,000 fish is $1 and the fixed cost of the boat is $100,000, what is her profit per fish? a)$1 b)$500 c)$5,000 d)$25,000 e)$500,000 the

    asked by Julian on December 3, 2006
  73. Economics

    The market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses. a. How does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal

    asked by Sarah on November 25, 2006
  74. Economics

    Determine whether each of the following would cause a shift in the aggregate demand curve, the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case? a. The

    asked by Jeffrey on September 6, 2006
  75. economics

    How do you think the Demand and Supply patterns have changed in the United states since 2008 when the recession started?

    asked by cc on June 12, 2016
  76. Economics

    Which statement best describes the role of government in a mixed economy? 1) it controls all decisions about business activities, including profit levels. 2) it forms companies and then allows individual managers to run them. 3) it follows a strict policy

    asked by Dori on June 17, 2015
  77. Economics

    Elesha babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elesha to babysit their children. In particular, Dr. and Mrs. Brown would be willing to pay $30 to have Elesha babysit their children, Mrs.

    asked by Cole on April 25, 2015
  78. Economics

    Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound. She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound. Sandra’s cross-price

    asked by Will on November 29, 2011
  79. economics

    Do Marx's claims about estrangement and alienation still hold true today? Explain. not sure

    asked by 2phoneeeeee on November 7, 2014
  80. Economics

    What is the effect of import restrictions on supply? A. They cause the available supply of goods to drop.**** B. They cause the available supply of goods to rise. C. They often cause supply to rise steeply and then drop. D. They usually do not have any

    asked by Nirvana ✌️🤘 on February 8, 2016
  81. Economics

    Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a supply-and-demand diagram of the market for unskilled labor, show the market wage, the number of workers who are employed, and the number of workers who are

    asked by Mickey on September 23, 2006
  82. Economics

    Indicate the effect that each of the following conditions will have on a company's average variable cost (AVC) and average total cost (ATC) curves: a. The movement of a company's administrative offices from New York City to New Jersey where rent costs are

    asked by G on November 1, 2010
  83. economics

    Market research has revealed the following information about the market for chocolate bars. The demand schedule can be represented by the equation QD=1,600-300P, where QD is the quantity demanded and P is the price. The supply schedule can be represented

    asked by chris on July 9, 2010
  84. Economics

    Suppose that you are a bicycle producer. In 2 or 3 sentences, explain why you are willing to supply the most bicycles at the highest price

    asked by Madison on October 20, 2014
  85. economics

    Are there some jobs that don't fit Marx's claims? If so, what are they, and why don't they lead to estrangement and alienation? If not, why are estrangement and alienation part of all forms of labor? i said not estrangement and alienation are part of all

    asked by 2phoneeeeee on November 7, 2014
  86. Economics

    2. Compare the following two pairs of goods: Coke and Pepsi Skis and ski bindings In which case will the cosnumer respond more to a change in the relative price of the two goods? I think that it would the skis and ski bindings since they are complements.

    asked by Econ Gal on October 15, 2006
  87. Economics

    he graph below shows 2 budget lines and 6 consumption points for Pepsi and Dr. Pepper (A,B,C,D,E, and F). Assume that the consumer, Fred, attempts to maximize his utility and exhausts his budget on the two goods.

    asked by Anonymous on February 24, 2015
  88. Economics

    Willy's widgets, a monopoly, faces the following demand schedule (sales of widgets per month): Price $20 30 40 50 60 70 80 90 100 Quantity 40 35 30 25 20 15 10 5 0 Calculate marginal revenue over each interval in the schedule (for example, between Q = 40

    asked by KEN on November 26, 2006
  89. Economics

    A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units . The minimum average cost is $10 per unit. Total

    asked by Justin on November 5, 2017
  90. economics

    What does the curved line represent in the graph?

    asked by terra on October 23, 2012
  91. Economics

    Suppose that your state raises its sales tax from 5 percent to 6 percent. The state revenue commissioner forecasts a 20 percent increase in sales tax revenue. Is this plausible? Explain. I would think not, because wouldn't the increase in sales tax shut

    asked by Marry on November 17, 2006
  92. Economics

    6. Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost $8 $9 $10 $11 $13 $19 $27 $37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize

    asked by SMsm on June 7, 2008
  93. economics

    How to calculate item weight of an item

    asked by Lisa on September 14, 2014
  94. Economics

    What is the primary difference between normative and positive economics? A. Positive economics makes value judgments inappropriate to scientific research. B. Normative economics is more firmly rooted in scientific tradition. C. Governments use normative

    asked by John on June 6, 2007
  95. economics

    Is your consumer behavior influenced by advertising or the news? Discuss one or two examples of media that have influenced your desires or affected your consumer choices

    asked by christian on March 26, 2013
  96. economics

    According to the rule for optimal input usage, a firm should hire a person as long as his or her marginal revenue product is greater than his or her marginal cost to the company. It is well known that many companies have management training programs in

    asked by aaniya gill on September 10, 2011
  97. economics

    3. Farmer Jones and Farmer Smith graze their cattle on the same field. If there are 20 cows grazing in the field, each cow produces $4000 of milk over its lifetime. If there are more cows in the field, then each cow eats less grass, and its milk production

    asked by tianbai on November 13, 2007
  98. Economics

    hey...i had a similar econ question..check out schoolpiggyback (search it on google)...it'll help ya out...its other students that answer your question (maybe someone from your class...lol)...goodluck : ) 3. A large share of the world supply of diamonds

    asked by steve on December 4, 2006
  99. Economics

    I got a lot of problems with this exercise. I really hope you can help me. Thanks! Samantha Roberts has a job as a pharmacist earning $30.000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $40.000 per year

    asked by Muusen on March 16, 2009
  100. economics

    You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8.

    asked by jay on September 9, 2013

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