HW3 (1)

(a) Distinguish between microeconomics and macroeconomics

1. Please Solve the answer can u see in option im needed max in 15-20 minutes thank u

You have exams in economics and chemistry coming up and 5 hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject. 99- 97- Hours Spent Studying Choice Economics Chemistry Economics Chemistry Midterm Score 95- 93 98 75 91- B 4. 1. 95 82 3 92 88 89 87 82 92 94 D 87- E 4 F 5 75 95 83- Use the multipoint curve drawing tool to plot a production possibilities frontier showing the trade-off between your economics grade and chemistry grade. Plot all choices A through F. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. 81- 79- 77- 75 75 77 79 81 83 85 87 80 01 93 05 97 99 Score on chemistry exam After plotting the final point of your multipoint curve, press the Esc key or use a long press on the last point to end the line. Score on economics exam

discuss briefly (7-8 lines) the meaning of "economic analysis is marginal analysis" and give a personal example! (please give any personal example!)

Task 3 Pick one of your items. You have been contacted by a customer in Alaska who wants to purchase several of these items and wants you to ship the items to her. You have already established the cost per item and you will only charge the customer $5 to ship these items to Alaska. Suppose another company sells the same item but charges half of your price. However, if the customer buys from this company, she will be charged $20 in shipping costs. a. Write two equations to represent the customer's total cost based on how many items she buys from each of the two sellers-you and the other company. b. If the customer in Alaska wants to buy 5 items, from whom should she buy? Explain your answer. c. If the customer in Alaska wants to buy 50 items, from whom should she buy? Explain your answer. d. Solve the system of equations from part A. What method did you choose to solve the system? Why? e. Explain what your solution for part D means in terms of the situation.

Please note that this question has not yet been graded. I keep getting the error message that this question can't be answered because of it being graded and it hasn't been. Thank you.

14. What assumption is important in using economic model to make predicitons? a) the law of demand b) the rationality assumption c) ceteris paribus/ other things being equal d)evryone being a price taker

2. Indicate whether the following statement(s) applies to microeconomics (Micro) or macroeconomics (Macro): a) A U.S. automobile manufacturing firm announced to hire 500 workers last month. (. b) The unemployment rate in the United States was 13.3 percent in March 2020. c) In 2011 an unexpected late spring frost after planting in southwestern Minnesota incurred additional costs to farmers as they replanted, although replanting payments are covered by insurance. (

6) Explain how marginal analysis can be used to determine the "correct" amount of time to spend studying for an exam. Make sure to explain the role of rising marginal costs and declining marginal benefits in your decision. Why might the "correct" amount of time to study for an exam be different for different students?

a. Explain the following statement : "Surely, as you begin this course, you recognize that time is one of the scarcest resources of all. Your primary decision problem is to allocate a scarce resource -time- to achieve a goal-such as mastering the subject matter or earning an A in the course."

Topic-1 and Topic-2 Tutorial questions 1. What is economics? 2. 3. 4. 5. 6. Write short notes on the following perspectives a) Scarcity and choice b) Rational behaviour and rational self-interest c) Generalisations d) Ceteris Paribus Distinguish between the following concepts a) Microeconomics and macroeconomics b) Normative economics and positive economics c) Economic principle and economic policy d) Independent variable and dependent variable e) Direct relationship and indirect relationship between any two variables Explain the reasons why every economy is faced with the basic economic problem to answer fundamental questions such as what to produce, how to produce, for whom to produce? Differentiate between the following concepts al Consumer goods and capital goods bl Public goods and private goods The alternative production possibilities faced by the economy of Botswana in the production of cloth and bread are indicated in the following Production Possibilities Table (PPT).…

13. A layperson says that a proposed government project simplycosts too much and therefore shouldn’t be undertaken.How might an economist’s evaluation be different?14. Economists say that individuals make decisions at themargin. What does this mean?15. How would an economist define the efficient amount oftime spent playing tennis?16. Ivan stops studying before the point at which his marginalbenefits of studying equal his marginal costs. Is Ivan

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Can you show me how the curve graph works. I am confused about the math in getting the answers. Thank you

V05

MICROECONOMICS  ( ALL OF IT IS ONE QUESTION!!!) For the article which graph (1-12) best describes what happened.  King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were worried the extra…

Question 3 ( A B C D E Production Point Mountain Bikes a) straight-line; increase Ob) straight-line; decrease Oc) curved; decrease 0 30 50 60 65 d) curved; increase Beer 100 90 70 40 Refer to the table above. if you were to plot the points, then this would be a PPF, so when you try to produce 5 more mountain bikes from 60 to 65, the opportunity cost of beer will at a higher rate. 0

36 4 13:42 0 O 8 E Graphi.ration - Saved Exercise No. 2 Production and Costs Name: Course & Section: The graphical illustration below shows the theory of production. Label the unknown variables represented by mumbers. 1) 2) 3) 4) 5) 6) 7) 8)

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Don't use ai i will report you answer solve it as soon as possible with proper explanation

Don't use ai i will report you answer solve it as soon as possible with proper explanation

Assignment 2:  Problem Solving When faced with a problem, what do you do to solve it? This assignment asks you to apply a six-step to problem solving process to a specific problem scenario. You will write a paper that presents a synthesis of your ideas about solving the problem using this systematic approach. As Voltaire said, “No problem can withstand the assault of sustained thinking.” Choose one (1) of the problem scenarios as a topic choice for your paper (Note: Your professor must approve your topic choice before you begin work on the assignment.) Scenario 1: You have worked at your company for eleven (11) years. You have returned to college to earn a Bachelor’s degree in order to increase your chances for a promotion. You are nearly finished with your degree, when a supervisor’s position in a competing company becomes available in another state. The start date is in two (2) weeks, during your final exam period for your courses. The position offers…

Recheck answer in full complete solution and graphing Note: Please explain and provide labels

After reviewing major/relevant material in microeconomics, your group has begun brainstorming the possible topics that you would like to do. 1. Find two different dependent variables that you would like to explain and 2. Find at least three independent variables that can help you to explain. 3. What the possible economic theories/concepts/graphs that support your choice of the variables are. Note: this task pertains to microeconomics concepts.

3) What is the opportunity cost of taking this Intro to Microeconomics course at NYU?What is the opportunity cost of attending class? Remember to consider explicit and implicit costs.

Distinguish between Microeconomics and Macroeconomics with their objectives 1.

Macroeconomics or microeconomics

3. Marginal analysis produces more optimal outcomes when working with scarce resources. How?

Identify each of the following topics as being part of microeconomics or macroeconomics: the effect of a change in the price of Coke on the purchase of Pepsi. (a) microeconomics (b) macroeconomics

Hours Playing Video Games Total Benefit Marginal Benefit Total Cost Marginal Cost 1 $20 MB1 $7 MC1 $35 MB2 $15 MC2 $45 MB3 $25 MC3 4 $50 MB4 $40 MC4 $53 MB5 $60 MC5 The above table is the same table from question 1. Enter your answer as a whole number and do not write out the number as a word (ie. 6 not "Six") How many hours should this individual spend playing video games? [Hours] 2.