2. Sadiq thinks he can sell Rs.4,200,000 worth of hardware in a year. What would his accountant consider the store's profit? 3. How much revenue would the store need to generate for Sadiq to earn zero economic profit?
Q: Use the following table to answer this question. The table contains the amount of wheat and shoes th...
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...
Q: When Marginal Utility is zero, Total Utility is
A: To find : What will be total utility when marginal utilities will be zero.
Q: In the market for lattes, researchers have estimated the following demand and supply curves. Demand:...
A: Price floor is the minimum price that must be paid to sellers. It is binding when it is set above th...
Q: Each firm in a perfectly competitive industry has total costs c = q2 – n + 16. Market demand is Q = ...
A: Given:- C=q2-n+16 Q=24-2p Tax, t=1 Please find the images attached below for detailed solution.
Q: 2. Indifference curves are convex to the origin because A. O Two goods are perfect substitutes B. O ...
A: Indifference curve shows the combination of two goods which give equal amount of satisfaction to the...
Q: Explain briefly the three basic questions that every country must ask themselves about their economi...
A: Quantity of enterprise depends on certain factors which results into its success. It would increase ...
Q: Compare the effect of having more capital and technological change on the long run economic growth.
A: Economic growth is described as a process in which the output of commodities and services increases ...
Q: 6. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not ne...
A: The gross domestic product (GDP) is a measure of a country's economic output. Countries with higher ...
Q: 3. Profits A. Are lower in the long run than in the short run Con be negative
A: To find : What is profit
Q: Which of the following is a reason why countries willingly weaken sovereignty through bilateral and ...
A: In the second half of the 19th century, many developing or developed nations have opened their bound...
Q: Consider the strategic form game represented by the following bimatrix, where player 1 is the row an...
A: The given matrix is:
Q: Which government policy measure would reduce the price of a product and increase the quantity traded...
A: d. The granting of subsidy Option "d" is correct. A subsidy is a government payment paid to individu...
Q: 1. Explain when safety regulations can lead to an increase in efficiency. What market failures lead ...
A: 1. The government may enact laws and regulations prohibiting certain behaviours and actions in order...
Q: What do we mean when we say individuals are both products and producers of society.
A: A producer is defined as an individual who creates and supplies the goods and services in the market...
Q: d. If the firm closes down and produces no output, what will be its total cost? e. If the firm decid...
A: Total Cost is the sum total of Total Variable Cost and Total Fixed Cost. It denotes the total cost i...
Q: Utilitarianism definition
A: It is one of the morality theory. It proposes actions that cause happiness. It opposes actions tha...
Q: the first three years, it will prov of profit each year. For the n hual profit will be P35,000. For ...
A: Given that, Investment is P250000 first, three-year profit is P20000. next four-year profit is P3500...
Q: Which chain of events is an expected occurrence in the market and, in addition, occurs in the correc...
A: Demand refers to the quantity of the commodity which consumers are willing and able to consume at va...
Q: AGGREGATE PLANNED OUTPUT/INCOME CONSUMPTION INVESTMENT 2,000 2,100 300 2,500 2,500 300 3,000 2,9...
A: Savings=Aggregate planned output/income -Consumption Unplanned Investment= Savings-Investment A...
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the dema...
A: Equilibrium refers to the market in which the market demand and market supply are equal to each othe...
Q: Directions: Choose the term inside the box that corresponds to each of the following statements belo...
A: 1. A social determinant of health and development where people get to be exposed to particular hea...
Q: The bulk of government expenditure flows into two main areas of responsibility: education and healt...
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the...
Q: For each policy sted, identify whether it is a command-and-control policy (regulation), tradable per...
A: The negative consequences of one's action on others (either individual or environment) without exact...
Q: When demand increases, there is a _____ at the old equilibrium price, which puts _____ pressure on p...
A: The curve that depicts various quantities of goods being demanded by consumers at various levels of ...
Q: Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school tr...
A: Equilibrium occurs at such a price where quantity supplied is equal to quantity demanded. Disequili...
Q: . Consider the following sequential game. Player 1 A B Player 2 Player 1 a Player 2, (4) () i. Deter...
A: Given game is sequential game that means by observing the action of player 1 player 2 plays the stra...
Q: Amid growing concerns that a virus outbreak from Asia will turn to a global pandemic, Ivan the Inves...
A: Given information Investor invests in 3 sectors with 3 strategies. Given pay off Virus contr...
Q: Which of the following is not a canon of taxation? Pick a,b,c, or d a. Equity b. General Acceptabi...
A: Canons of taxation are defined as the various administrative features of taxation. Taxation refers t...
Q: . Productivity of land can be raised by
A: To find : What can be raised by productivity of land.
Q: Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. U...
A: Labor Cost = $22/hr Training cost = $160/hr Wage = $20/hr G = 1/Workers
Q: Use the model of supply and demand for bonds to illustrate and explain the impact of each of the fol...
A: The equilibrium quantity and prices of bonds are dependent on the demand and supply of bonds. Also, ...
Q: Suppose that Akbar has consumed two goods Ice cream and apple juice. Details of MUice-cream and MUap...
A: We are going to find Utility levels for Akbar using Marginal Utility theorem to answer this question...
Q: What is social commerce? Disscuss which industry in GCC can adopt social commerce? Justify your answ...
A: Once a product is manufactured, cost has to be initiated and process of business follow ups. Busines...
Q: NS1 i3 14 I* I1 2 13 Quantir Invest and Saving ($) FIGURE 2 Refer to Figure 2. Suppose national savi...
A: We know that income earned by households is divided into two parts: Consumption Savings We also kn...
Q: 1. Consider the strategic form game represented by the following bimatrix, where player 1 is the row...
A: The given matrix is:
Q: economic system differ from the American economic system in terms of the relationship between state ...
A:
Q: Suppose the equilibrium price for good quality used cars is $20,000. And the equilibrium price for p...
A: Adverse selection occurs when one party to a contract has more information than the other. Here the ...
Q: You own a company that produces widgets. You currently produce 100 widgets; each widget sells for $1...
A: Macroeconomics and microeconomics are important part of country mechanism. Aggregate demand and aggr...
Q: For K > 0 and L > 0, the production function F(K,L) = 2KL+ K has a. increasing returns to scale b. d...
A: option (a) increasing returns to scale is correct because An increasing returns to scale occurs whe...
Q: What is your major take away from Thomas Dye’s definition of public policy)?
A: To find : Highlights from thomas dye definition of public policy.
Q: The government Bets a minimum wage above the Current eajuilibrium wase level. (4) what effect does i...
A: Meaning of Consumer Surplus: The term consumer surplus refers to the situation under which the con...
Q: The gross domestic product (GDP) of the United States is defined as the all in a given period of tim...
A: GDP stands for Gross domestic product. In this case US GDP is being discussed and we are required to...
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the dema...
A: Introduction We have given demand and supply function. Demand function is Q dx = 65,000 - 11.25 Px +...
Q: A two product firm faces the following demand and cost functions: Q1 = 40 - 2P1 - P2 Q2=...
A: Given: The demand function for a product is: Q1 = 40 - 2P1 - P2Q2 = 35 - P1 - P2 And the cost funct...
Q: Discuss how useful the price mechanism is in tackling the basic economic problem?
A: All economic decisions are made via the medium of prices, which are, by their very nature, self-adju...
Q: The figure below shows that the imposition of an indirect tax shifts the supply curve to the left. W...
A: Tax Revenue is the revenue earned by the government by the impositional of taxes. TR=t*Q TR=Tax Reve...
Q: Below is an Edgeworth box of two individuals, Ross and Rosa, in the consumption of two goods, X and ...
A: Hi! As per Bartleby's guidelines, I am providing you with the answers to the first three subparts. Y...
Q: • Which of the following is not typically an element in the structural change that accompanies devel...
A: The answer is - d. All of the above changes accompany development.
Q: An economist finds a magic lantern and is granted one wish; she wants to choose the one policy that ...
A: An economist is the person who makes various policies and programs to implement them in an economy f...
Q: In the demand curve, there is a mid-point. Determine the value of: i. Elasticity of demand in the m...
A: Elasticity at mid point = 1 Elasticity of demand above the mid point is greater than 1
Step by step
Solved in 2 steps
- A small company that shovels sidewalks and driveways has 100 homes signed up for its services this winter. It can use various combinations of capital and labor: intensive labor with hand shovels, less labor with snow blowers, and still less labor with a pickup truck that has a snowplow on front. To summarize, the method Choices are: Method 1: 50 units of labor, 10 units of capital Method 2: 20 units of labor, 40 units of capital Method 3: 10 units of labor, 70 units of capital If hiring labor for the winter costs $100/unit and a unit of capital costs 400, what is the best production method? What method should the company use if the cost of labor rises to $20/unit?If you have SAR 50,000 to start a new business, you can earn 10 percent interest on money in a bank account. Your business expenses are SAR 22,000 per year on rent, SAR 18,000 per year on supplies, and SAR 5,000 per year on part time help. As for your personal expenses, your apartment costs you SAR 12,000 per year and your personal bills are an extra SAR 6,000 per year. What is your opportunity cost of running the business?Suppose Andrea has a job that pays her $50 000 per year (after taxes). She is considering quitting her job and going to university full time for four years. Tuition fees and books will cost $12 000 per year. Living expenses in either situation will cost $20 000 per year. What is the opportunity cost of Andrea's four-year university degree? $200 000 $128 000 $288 000 $240 000 $248 000
- Buffy is thinking about opening an amulet store. She estimates that it would cost $350,000 per year to rent the location and buy the merchandise. In addition, she would have to quit her $80,000 per year job as a vampire hunter. Answer B -E please i know the answer to A. A).Define opportunity cost. B).What is Buffy's opportunity cost of running the store for a year? C).Buffy thinks she can sell $400,000 worth of amulets in a year. What would her accountant consider the store's profit? D).Should Buffy open the store? Explain. E).How much revenue would the store need to generate for Buffy to earn positive economic profit?08. What is the opportunity cost of pizza as production moves from point C to Point D?macroeconomics Q2: Three students have each saved $1,000. Each has an investment opportunity in which he or she can invest up to $2,000. Here are the rates of return on the students’ investment projects: Harry 5 percent Ron 8 percent Hermione 20 percent If borrowing and lending is prohibited, so each student uses only his or her saving to finance his or her own investment project, how much will each student have a year later when the project pays its return? Now suppose their school opens up a market for loanable funds in which students can borrow and lend among themselves at an interest rate r. What would determine whether a student would choose to be a borrower or lender in this market? Among these three students, what would be the quantity of loanable funds supplied and quantity demanded at an interest rate of 7 percent? At 10 percent? At what interest rate would the loanable funds market among these three students be in equilibrium? At this interest rate, which…
- Timothy quits his job which pays $65900 a year, to enrol in a 2 year graduate program. his annual expenses are $62600 for the tuition , $8400 for books, and $3500 for food. What is the opportunity cost for attending the graduate programe? What core principles are considered in Timothy's decision making? (i) Scarcity, Choice and Opportunity Cost (ii) Cost benefit analysis (iii) Incentive principle (iv) Diminishing returns1) What's the opportunity cost of a typical college education? What's your personal opportunity cost? 2) Compare earning potentials between high school and college graduates through lifetime active careers. 3) What's your opinion about staying or dropping out from college? Will the possible forgiveness of student loans affect your decision on staying in college? 4) Since the future will be highly technology-oriented, will higher education be very necessary? Because the robot with artificial intelligence can replace many jobs of human labor in the future. 5) On the other hand, suppose you are a brilliant, successful value investor of young Warren Buffett who is a founder of Birkshire Hathaway(BRK.A). You think that a college education is unnecessary because the opportunity cost of staying at a college is too expensive. The reason is that the financial gain of investing in one company with your college tuition will be far greater than the earning potential with a college degree for the…Suppose that your tuition to attend college is $10,000 per year and you spend $4,000 per year on room and board. If you were working full time, you could earn $20,000 per year. What is your opportunity cost of attending college for one year? A) $14,000 B) $24,000 C) $30,000 D) $34,000 can you solve this Q and show me the steps for solving it
- Sven runs a daycare for some of the neighborhood children, where he earns $300/day inrevenue. He runs the daycare out of his home, for which the mortgage costs $3,000 per month($100 per day). Each day, Sven spends $50 on food, diapers, and other supplies. He also hassome toys and playground equipment that originally cost $500, but which he wouldn’t getany money for reselling today. Sven looks after all the children himself, so he doesn’t pay anymoney in labor costs. If he weren’t busy with the daycare, he could earn $120 per day as aprivate nanny. What is Sven’s daily economic profit from the daycare? (Select one from below) (a) $300: Economic profit is equal to revenue.(b) $180: That is his revenue minus opportunity cost.(c) $150: That is his revenue minus input cost.(d) $130: That is his revenue minus variable cost.(e) $50: That is his revenue minus accounting cost.(f) $30: That is his revenue minus economic cost.(g) $0: In the long run, all firms must make zero profits.(h) –$200:…Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56 given by his dad to spend on his collection. The store sells them at $14 per pokemon cards and $7 for the stickers. 1. If Ethan spends all his money on pokemon cards, what is the maximum unit that he can purchase based on the given budget? 2. If Ethan spends all his money on stickers, what is the maximum unit that he can purchase based on the given budget? 3. Show in an illustration where pokemon cards is in the x-axis and y-axis is the sticker.what is the difference between entrepreneurial idea and opportunity? how are good ideas generated and what is the role of passion in converting ideas opportunities?