1.1 Compare and contrast the terms Production Economics and Agricultural Production Economics and further describe economic theories that apply to Production Economics.

Q: The consumers in the economy buys only two general types of products: Apples, and Bananas. Price…

A: The consumer price index (CPI) measures changes in the general level of prices of goods and services…

Q: In the AS-AD model, a deficit reduction O decreases output in the short-run and the medium-run O has…

A: When talking about AD-AS model, it can be said that this model is a general framework of goods…

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: A perfectly competitive firm is a price taker, which means it takes the price determined by the…

Q: Marvin has a COBD-Douglas utility function, 0.5 U=q₁ 110.59₂0 his income is Y = $700, and initially…

A: Consumer surplus. compensating variation and equivalent variation are the measures of consumer…

Q: Suppose in the market for tickets, Demand is given by Qd=100,000-100P. Suppose producers can…

A: The consumer surplus is the difference between what they are willing to pay and what they actually…

Q: Which of the following production bundles would be considered efficient? P-cakes 60 a b 50 C 44 40…

A: Here, the given graphs shows the production possibility curve with two goods as Pancakes and Bacon.

Q: Businesses may follow a strategy of product differentiation under monopolistic competition.

A: Product differentiation is a marketing strategy used to distinguish any product produced by a…

Q: You have a field on which you can grow two types of crops, barley and wheat. The field has 30 acres…

A: Production bundles of goods which use all the resources are efficient.

Q: Suppose your income increase from $1500 per week to $3000 per week. Construct a new table showing…

A: According to the new conditions, the income has doubled to $3000 per week. The prices of sandwiches…

Q: 3. Don Magellan borrowed today from Ginoong Magellan P300,000.00 and agreed to repay the loan with 4…

A: Loan Amount = 300,000 Pay in 4 equal Month r = 12% compounded monthly

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: The market structure known as "perfect competition" refers to the one of a kind since it enables…

Q: If the two nations operate in autarky, which of the black points (plus symbol) are attainable for…

A: Given that,  Consider the two hypothetical nations of Greenburg and Fireton. Suppose they both…

Q: Consider an economy with production function given by Y = AK0.5 10.5 where A is the total factor…

A: Production function : Y = AK0.5L0.5 Where , A = TFP , K = Capital , L = labor  Let the price of…

Q: how monetary policy was critical in reducing the impact of the pandemic within the SSA and globally,…

A: Introduction Monetary policy is the central bank's use of changes in interest rates, the money…

Q: Suppose you have been hired as a management consultant by a major oil company to help it optimally…

A: "GDP or gross domestic product represents the market value of all the final goods and services…

Q: Importance of price elasticity

A: Price elasticity measures how responsive a good's supply and demand are to price changes. It is…

Q: Irving has 10 hours available for knitting scarves and hats. It takes him 20 minutes to knit a scarf…

A: Opportunity costs is the benefits foregone in picking one among a few alternatives. The opportunity…

Q: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: The federal government (1) encouraged the development of the savings and loanindustry, (2) virtually…

A: The federal government has power of delegating the power to the elected members of the states.  i).…

Q: a. How does the country’s employment (L) at point D compare to that at point B? Explain your…

A: If we have a production function like Y = AF(K,L) and we draw just the relationship between the Y…

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: A perfectly competitive firm is known as a price taker because the pressure of contending firms…

Q: Sometimes price cuts can have an unintended result of consumers waiting for deeper discounts. What…

A: Change in Demand: Change in demand implies a situation when the demand for a good either increases…

Q: The diagram to the right shows a market in which a price floor has been imposed. Identify the…

A: Price floor refers to the legal minimum price of the good that can be charged. A binding price…

Q: BigTechs are threat to banks in both traditional retail banking activities (e.g. household and…

A: Traditional banking is used to describe banks having a local banking licence and a physical…

Q: 3. Don Magellan borrowed today from Ginoong Magellan P300,000.00 and agreed to repay the loan with 4…

A: Amortization Schedule Month Balance interest payment Total payment First $300,000 $12,181.20…

Q: Suppose a new miracle pill is discovered that increases both the marginal health effects of health…

A: The Production possibility frontier is defined as the curve representing combination of two…

Q: Addy plans to deposit her annual bonus into a savings account that pays 4% interest compounded…

A: # She receives interest @4% P.A # first bonus she deposit at the end of the first year with amount…

Q: A man wishes his son to receive P 750,000.00 twelve years from now. What amount should he invest now…

A: Here, given information is: Future value (F): P 750,000.0 Interest rate (r): 13.5% Time period (n):…

Q: Which individual is cyclically unemployed?

A: Unemployment is the situation where a person who is willing abd able to work is not getting a job.…

Q: 4. According to the Solow growth model, what kinds of public policies should governments of…

A: The Solow-Swan model or exogenous development model is an economic model of long-run financial…

Q: 12. What are the four factors of production? Thanks asap do it

A: Factors of production: -We know that  factors of production are the resources used to produce goods…

Q: pi=3q^2+45q-20 FC is 20, Demand fn is P=50-2Q. What is VC per unit in Q form?

A: Variable cost refers to the cost which changes with change in the level of output. The fixed cost…

Q: You borrowed ₱85,000 from your friend that you will pay back in 4 years and 4 months. Interest is…

A: Given: Amount borrowed = P85000 Interest rate = 10% compounded quarterly.

Q: To maintain an asphalt road in Davao City, P5,000 will be required at the end of three years and…

A: # Here we will have to bear 5,000 at the end of 3 years and 5,000 each year thereafter # Money is…

Q: What would happen if the government started regulating product prices, and how would that affect…

A: The fundamental building block of economics is the determination of market prices through the…

Q: Consider an economy with the Cobb-Douglas production function: Y = 3K0.2L0.8 K = 140000; L=8000…

A: In the study of economics, production functions represents the relationship between the quantity of…

Q: The GDP deflator in the United States in 2015 was 105, and The GDP deflator in the United States in…

A: Given information: GDP deflator in 2015 = 105 GDP deflator in 2019 = 112 Real GDP in 2015 = $17.4…

Q: 5) Consider a market characterized by the following inverse demand and supply functions: Px = 10-2Qx…

A: # demand function : P = 10 - 2 X # Supply function : P = 2 + 2X

Q: When the official dollar price of a foreign currency is set below its equilibrium level, the dollar…

A: The exchange rate displays the amount of one currency needed to buy one unit of another. In other…

Q: District 12 has 2 units of labor and District 8 has 1 unit of labor. The MPL of textiles in District…

A: Ricardo postulated about the types of goods and services that countries should produce, and he…

Q: The table shows data for China and India for the year 2015. Compute the rGDP per capita to determine…

A: GDP per capita of a country = (Total GDP of the country) / (Total population of the country) It is…

Q: In five years, P18,000.00 will be needed to pay for a building renovation. In order to generate this…

A: Sum required in future = 18000 Total Time Period = 5 years  Number of Annual Payments to be made = 3…

Q: Local party organizations O have more power than their western European counterparts. O are…

A: In electoral process the political parties are at the national, state, and local levels. Local…

Q: What are the excel formulas used

A: From equation 1 The short-run production function is q=-0.6L3+18L2+10L Cost function: C(L)=100L+800…

Q: "[Gobillion] is backed by Y Combinator, a Silicon Valley-based startup accelerator, which invested…

A: According to the question, it is given that : Gobillion is a startup accelerator backed by Y…

Q: The company AffordableStuff sells cell phones. The marginal cost for each cell phone is given by the…

A: The provided equation is: Marginal cost function:C(x)=0.01x2-3x+229Marginal revenue…

Q: Suppose that BC₁ on the following graph represents your initial budget constraint for good X and…

A: Normal goods are positively related to the income while the demand for inferior goods decline when…

Q: Illustrate and briefly describe how supply and demand curves relate to the concepts of, ‘marginal…

A: The total gross benefit depicts the entire area under the demand curve up to and also inclusive of…

Q: 6. Violations of the factor-endowment theory of trade While different natural resources and the…

A: Factor endowment theory explains that the country will export the good if it is relatively abundant…

Q: The following paragraphs discuss the impact of various economic events on the exchange rate.…

A: Balance of payment is the account that records the monetary transaction between two nations.…