2. A demand curve is sloping because a downward; of increasing opportunity costs. b. upward; people prefer to purchase high quality consumer goods. c. downward; reservation prices tend to fall over time. d. downward; fewer people are willing to buy the item at higher prices.
Q: 3. Worldwide annual sales of smartphones in 2013-2017 were projected to be approximately 9-10p+4,360…
A: The elasticity of demand is the reaction of demand due to change in price of goods and services,…
Q: Illustrate with Example: According to law of diminishing marginal utility, as you consume more and…
A: Law of diminishing marginal utility:- As per the notion, a person utilizes more amount of a product,…
Q: Let demand and supply be given by, Qa = 100 - 1P, Qs = -50+6P. A tax of $10 is levied on the good.…
A:
Q: How is the isomorphic concept applied in determining executive salaries?
A: Isomorphism refers to the likeness of one organization's operations or structure to those of…
Q: le 39 44 5 11.36 88.64 100.00 45.45 49.37 48.89 5.56 43.33 48.89 ale 6 40 46 13.04 86.96 100.00…
A: *Answer:
Q: Why is the wage distribution positively skewed? (ii) Describe how to calculate the Gini coefficient.…
A: The income distribution is a statistical measure of how many individuals earn or get different…
Q: Are revolutions normally followed by radical changes?
A: Revolution:- The overturning or abandonment of an authoritarian regime or governmental class by the…
Q: Suppose that a large percentage of Country A’s exports go to Country B. Country B is currently…
A: In this situation, a large percentage of Country A’s exports go to Country B and the Country B is…
Q: Compare the roles of the United Nations, the WorldBank, the World Trade Organization, and…
A: The UN, the World Bank, the World Trade Organization, and nonprofit groups are all active in…
Q: Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area.…
A: For making a comparison, we will need following things - 1. number of tourists coming to visit…
Q: Hand written plzz Part 1 The Federal Reserve buys $40.00 million in Treasury securities. If the…
A:
Q: Two different periods' non-renewable resource use are presented on the following figure. Q1 is the…
A: Answer - Extraction cost :- it's the cost that firms need to pay for the extraction of ore or…
Q: 8. Consider your decision whether to go skiing for the weekend. Suppose transportation, lift…
A: Here, information about the expenses related to go to skiing on weekend is given.it is also given…
Q: 7 (a) Assume P₁ = 1, P₂ = 2, Y (income) = 100. Point rationing is in force. Government specifies…
A: Utility of the Consumer Consumer utility is the level of enjoyment that an individual consumer…
Q: 3. How do the laws of demand and supply work for the real estate market? How do prices/rents change…
A: The measure that depicts various quantities of goods and services being demanded by individuals at…
Q: Quantity Price Marginal Cost 0 $10 - 2 $9 $3 4 $8 $4 6 $7 $5 8 $6 $6 10 $5 $7 12 $4 $8 For this…
A: Hi, you have posted a question with multiple sub parts. Since you have not provided options for the…
Q: Which metal has the smallest proportion of its technically recoverable reserves that are currently…
A: As we know, very little of the technically recoverable reserves are economically profitable to…
Q: With the aid of an Edgeworth Box diagram explain when efficiency in exchange is achieved in an…
A: The Edgeworth box, which provides for the analysis of the interaction of two persons trading two…
Q: Hand written plzz Part 1 The Federal Reserve buys $40.00 million in Treasury securities. If the…
A: Money multiplier = [1 - Currency deposit ratio] / [Currency deposit ratio + (Required reserve ratio…
Q: Explain the IPAT model. How can technology increaseenvironmental impact? Provide at least one…
A: IPAT model:- In the early 1970s, IPAT was presented as a method of calculating human effect on the…
Q: Let demand and supply be given by, Qa 270 - 1P, Qs -80 +9P. If a tax is levied on consumers, price…
A: Share of burden of tax depends on relative elasticities of demand and supply.
Q: 13. Market Imbalances and Rent Adjustment Process - what if the nominal vacancy rate is higher or…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Using the fixed-time period inventory model, and given an average daily demand of 287 units , 4 days…
A: There are certain economic order quantity assumptions which are:- - Independent demand-Constant lead…
Q: (c) Use your formula for E to determine the selling price that would have resulted in the largest…
A: We have demand equation: q=-10p+4360 Where q is in million and price is $p From part A Price…
Q: Explain what we mean with economic development and then discuss the relation between GDP/capita and…
A: Financial Development is projects, strategies or exercises that look to further develop the monetary…
Q: Which of the following goods is non-rival and non-excludable? a congested toll road a…
A: A good is a Nonrival good (based upon the consumption of the goods) if it is consumed by more than…
Q: What are the contributions and criticisms of Marx’sapproach to social change
A: Changes in modes of production, according to Marxist theory, may lead to changes in class systems,…
Q: Draw a production possibilities frontier for a country that produces two goods: capital goods and…
A: (PPF) Frontier of Production Possibilities The production possibility frontier is a graphical…
Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…
A: Answer - monopolistically competitive firm :- It is the firm which make non homogeneous goods but…
Q: Trans Coaches has since gained more customers since its competitor Ecobus had gone bankrupt.…
A: The number of people wanting and able to acquire things at various prices during a certain period of…
Q: When Open Market Operations result in an increase in the Monetary Base Interest rates fall Bond…
A: In an economy, when Central Bank used open market operations to increase the monetary base, it…
Q: Compare and contrast traditionaland contemporary views on the qualityof urban life.
A: Urban quality of life is a complicated subject that can be defined by numerous disciplines and is…
Q: 18. Assume that the Capital Asset Pricing Model (CAPM) holds. The risk-free interest rate is 3% and…
A: According to the question given, Risk-Free interest Rate = 3% Market Portfolio's Expected Return =…
Q: How can Theory of Economic Development promote businesses to perform better?
A: Economic development: It refers to the strategies that deal with the development process of the…
Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…
A: Monopoly is the market where single seller the goods to the large number of buyers and charge higher…
Q: Is the monopoly on patented pharmaceuticals warranted? What barrier to entry prevents the…
A: Monopoly on patented pharmaceuticals is not justified because governments are likely to buy…
Q: For each of the following scenarios, indicate if it would necessarily lead to crowding out or not,…
A: Answer: (g). Graphical presentation: According to the above figure, the x-axis measures the real…
Q: Inflation arises due to: Group of answer choices changes in real output, changes in nominal output,…
A: In an economy, inflation is an economic term to describe a rise in the market price of commodities…
Q: Part 4 Question A: “Trade Makes Everybody Better Off” Prompt: explain how the concept of…
A: Since you have posted multiple questions, we will solve the first question for you. If you want any…
Q: Max Pentridge is thinking of starting a pinball palace near a large Melbourne university. His…
A: Given that, His utility is u(W) = 1 - (5,000/W), where W is his wealth.
Q: Describe what benefits may come from a reproductive policysuch as China’s. Now describe several…
A: The government should be empowered to impose severe penalties on citizens who refuse to follow such…
Q: Note: Plot your points in the order in which you would like them connected. Line segments will…
A: Price Quantity demanded Quantity Supplied 4 2000 200 8 1600 600 12 1200 800 16 800 1200 20…
Q: Eric Yang earns $603.16 weekly, is married, and claims 3 withholding allowances. Use the Percentage…
A: Net earning is the amount remaining after subtracting all taxes and expenses.
Q: deral Reserve sells $26.00 million in Treasury securities. If the required reserve ratio is 10.00 %,…
A: Here, mm = money multiplier er = Excess reserve ratio and rr = Required reserve ratio
Q: What price is so low that consumers would question the product’s quality?
A: Consumption of normal goods verses giffen goods Initially the consumption is at IC1 where y number…
Q: How does the Rwandan Geoncide illustrate how politics and prejudice can affect populations?
A: In Rwanda, a deliberate campaign of mass murder occurred over the span of around 100 days in…
Q: When airfares between Santa Rosa and Los Angeles averages $69, the quantity consumed is 42,500…
A: Disclaimer :- since you have asked multipart questions we can solve only 3 subparts as per…
Q: PRICE (Dolla Demand 1 0 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Keyboards) The…
A: The point at which the supply and demand curves cross is called equilibrium.
Q: . Consider Option A and Option B Fill-up the table Below for the Future Value and the Present value?…
A: Note - In the question, the present value is given which is 15000 so table "a" can be filled. But to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 7 The demand and supply functions of Good X are: QD = 110 – 2PX – 4PY + M QS = 200 + 4PX – 2W Currently, Py = 25, M = 330 and W = 140 If consumers incomes decrease by 8 percent, by what percentage will the demand for good x change?1. What are the 3 components for Economics Efficiency ? 2. Economic Systems rarely exist in a pure form. Kindly enumerate the 6 classification of systems based on the dominant characteristics of Economic system? 3. What is the Capitalist Ideology? 4. What is supply and demand in simple terms and cite an example? 5. Price Elasticity of Demand is how economists measure the responsiveness of quantities demanded to changes in prices?4. URGENT Given that maximize utility of two goods, x and y, is where MUx/Px=MUy/Py MUx/MUy=Px/Py , where MU is marginal utility, and P is price. a. Explain what happens to the marginal utility of x, when more of x is consumed. b. Explain what a rational person should do when MUx/Px>MUy/Py , and how each MU, and MU/P changes or not. c. Graph and explain the intercepts and the slope of the budget line (constraint) when the budget is 100 and the price of x is 5 and the price of y is 4. d. Graph and explain an indifference curve that is tangent to a budget line. This is a general graph with no numbers.
- Please no written by hand and no image Assume that the consumer's preferences are such that the choice problem has a unique solution. There are two goods in the market, x and y. The price of good x is 3, and the price of good y is 5. With these prices, the consumer chooses the basket (x,y)=(4,4). (a) Due to economic policy actions (e.g., changes in taxation), the price of good x rises to 5, and the price of good y drops to 2. How do these actions affect the consumer's well-being? (b) What if the price of good x rises to 6, the price of good y drops to 2, and the consumer chooses the basket (x,y)=(3,7) at these prices?"1.(a) Suppose a consumer derives satisfaction from consuming hamburgers and hot dogs.How will the budget line change when the consumer is offered a "buy two, get one free" deal for hotdogs (limit one free hot dog). Please show the changed budget line on the graph given below. (b) Please explain how “Buy one get one free” is different from a half price (50% off) sale. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.4. Explain each key ingredients. (ii) There should be willingness to buy the product.
- The CC’s are a major league basketball team CC’s charge $10 for a reserved seat ticket to any one of their 71 home games they play each year In addition, only before the season begins, the team offers to sell one and only one ticket book to each fan The ticket book contain 10 reserve seat tickets to any game for a total payment of$50 Using consumer theory, show why the CC’s sell the ticket book If CC’s tickets are an inferior good, could a fan end attending fewer games a year because of the ticket book offer? If CC’s tickets are a normal good, could a fan end up attending fewer games a year because of the ticket book offer? What does this suggests about the team’s belief concerning the income elasticity of demand for tickets?True or False explain 2. A consumer’s budget line is kinked towards the origin (i.e., the kink is pointing towards the origin) if this consumer faces a lower price per unit of x as more x is consumed.a. A young connoisseur has $600 to spend to build a smallwine cellar. She enjoys two vintages in particular: a 2001French Bordeaux (wF) at $40 per bottle and a less expensive 2005 California varietal wine (wC) priced at $8. Ifher utility is U (wF, wC))=wF2/3 w C1/3 ,then how much of each wine should she purchase?b. When she arrived at the wine store, this young oenologistdiscovered that the price of the French Bordeaux hadfallen to $20 a bottle because of a decrease in the valueof the euro. If the price of the California wine remainsstable at $8 per bottle, how much of each wine shouldour friend purchase to maximize utility under thesealtered conditions?c. Explain why this wine fancier is better off in part (b)than in part (a). How would you put a monetary value onthis utility increase?
- Let the following table represents the total utility of a given consumer, in the cardinal utility approach. Q 1 2 3 4 5 Tux 8 14 18 20 20 Tuy 6 10 13 15 16 Mux Muy Mux/px Muy/py D) Assuming the consumer has any amount of money (enough budget) how many of X and Y should the consumer buy, to maximize utility? E) What is the total utility of X and Y? F) Let now price of X is 4 birr per unit and price of Y is 2 birr per unit and budget of the consumer for consumption of X and Y is 20 birr. Given budget constraint how many of X and Y should the consumer buy to maximize utility? G) What are the total utility of X and YTime remaining:00 :09 :39EconomicsUse the following to answer questions (29) - (31):In the town of “One Horse” there is one movie theater. Two groups of consumers, adults (A) andchildren (C), attend this theater. Suppose the demand for movies by adults is given by:QA = 50 - 0.50PA, where PAis price ofan adultmovie ticket(in cents)and QAis the numberofmovie tickets sold to adults atthe theater. Suppose the demand for movies by children is given by:QC = 20 - 0.50PC,where PCispriceofa children’s movie ticket(in cents)and QCis the numberofmovie tickets sold tochildren atthe theater. Also, imagine totalcostis fixed at$450, thus makingmarginalcostofprovidingonemore movie ticket to either an adult or a child constant at zero.[29]Ifthe movie theateris able to price discriminate amongits two groups ofconsumers, then itshouldcharge a higher price to group A.A.TrueB.False[30]Ifthemovie theateris able to price discriminate amongits two groups ofconsumers, then itsmaximum profit is closest in value…ASAP!! ANSWER PLEASE Danish Wali has Rs.70 to spend on apples and bananas and wants to maximize his utility on his purchase. Based on the data in the table: How many apples and bananas should Danish purchase? What is his total utility from the purchase? Does the utility-maximizing rule hold true for his purchase? Explain. Apples Rs.10 Bananas Rs .5 Quantity MU TU Quantity MU TU 0 - - 0 - - 1 28 28 1 12 12 2 24 52 2 10 22 3 20 72 3 8 30 4 16 88 4 6 36 5 12 100 5 4 40 6 8 108 6 2 42 7 4 112 7 0 42 8 0 112 8 -2 40
