2. Use indifference curves and budget lines to derive the demand for good X graphically provided that the demand for X is very inelastic but not perfectly inelastic. You need to show this using two graphs: in one on the left show the appropriate indifference curves and budget lines, in the other show the derived demand. Label the axes, prices, quantities, optimal consumption bundles appropriately so the relationship between the graphs becomes evident.

Q: How the UK-Russia fight will affect the socio-economic state of other countries?

A: Socio-economic means The phrase socioeconomic refers to the relationship between a group's social an...

Q: Quantity Total Revenue Marginal Cost $0 1 $10 $2 2 $20 $4 3 $30 $6 $40 $8 5 $50 $12 $60 $14 7 $70 $1...

A: In the question above, it is given a table with Quantity, Total revenue and Marginal Cost.  Fixed C...

Q: Benefits of government regulating banks.

A: Bank regulation is basically a kind of govt regulation that, among other things, sets certain rules,...

Q: 4. The total effect of a price change of a commodity is A. O Sustitution effect plus price effect B....

A: Commodity markets can be volatile, with movements that appear to have no rhyme or reason. Commodity ...

Q: .If the economy wants to decrease private sector's investment spending,

A: The correct answer is b) the government must increase its spending.  

Q: During World War I, the price in the U.K. increased by more than that in the U.S. Following Churchil...

A: Gold Standard - The gold standard is the currency measurement system where by the value of the curre...

Q: Find Nash equilibrium and equilibrium of dominant strategies. а. N A b. L C P (3;1) (2;3) (10;2) U (...

A: Answer -

Q: 3. A perfectly competitive individual firm operates in a constant cost industry and produces a level...

A:

Q: Outut In 6-2 we studied how unantioipated infation might affect the soply of goods and services in t...

A: The answer is - Option 3. Unexpected changes in price level will have a some effect on output.

Q: Derive the following: (i) (ii) (iii) (iv) (v) National Income Net Investment Personal Income Disposa...

A: As per the guidelines solution is provided to the first 3 sub-parts: (i) National income = GDP at ma...

Q: Consider a product market with three consumers X, Y and Z with demand function QX = 6 – PX, QY = 3 –...

A: Given the demand curves for X, Y, Z QX = 6 – PX, QY = 3 – ½PY and QZ = 12 – PZ 

Q: NAFTA is Select the correct answer below: O an economic union O a common market O a regional free tr...

A: NAFTA stands for North America Free Trade Agreement that was implemented to promote free trade betwe...

Q: assume that the price levels for a product is :[11,9,7,4,2], then create a table showing the Qd and ...

A: In economics, an excess supply, economic surplus market surplus or briefly supply is a situation in ...

Q: Firms promote the activities of the global market by promoting trends of offering the same products ...

A: Answer 2. Totalitarianism is a type of government and political system in which all opposition parti...

Q: Points Price Qd Ed TR (Sales) = Qs Es Price x Quantity Demanded A 50 150 350 45 200 490 C 40 250 700...

A: Elasticity of Demand = (Percentage change in quantity demanded)/(Percentage change in price) Elastic...

Q: How might you move an underperformer to partner status?

A: Corporations are a famous type of business association for huge and independent ventures. In this ex...

Q: ction levels for each product per worker/month (assume each country has a workforce for 15 workers):...

A: Opportunity cost is the renounced benefit that would have been gotten from a choice not picked. To a...

Q: The following table contains revenue and cost information for a perfectly competitive firm producing...

A: Total Cost is the sum of variable and fixed cost. Total Revenue is the final amount received by sell...

Q: 2. Excise tax is a part of

A: To find : Excise test will be part of? 

Q: Money prices microanalysis about vouch insurance?

A: Vouch Insurance Vouch Insurance is a new kind of startup insurance firm.Vouch's totally digitally de...

Q: The prairie dog has always been considered a problem for American cattle ranchers. They dig holes th...

A: Cattlemen use portion of the ground adjacent to the fence for dog breeding. This property could have...

Q: 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Cu...

A: Answer: LRATC (long-run average total cost)=Long-run average total cost is obtained by taking the mi...

Q: 1) The local breakfast restaurant has a new offer: those who buy more than 10 sandwiches a month get...

A: Given information Offer by local breakfast restaurant=50% on an additional sandwiches after 10 units...

Q: 5. The shape of rectangular hyperbola is made by

A: To find : Shape of rectangular hyperbola 

Q: Which of the following would cause the Aggregate Supply curve to move from AS to AS2 in the graph be...

A: Answer: According to the above figure, if the supply curve shifts from AS to AS2 it means the firms...

Q: B. How do world Religions view Business Ethics?

A: The world's eight major religions are Judaism, Christianity, Islam, Hinduism, Buddhism, Confucianism...

Q: What are your thoughts about the minimum wage laws? What are the good points and bad points? How do ...

A: ▪︎Minimum wage law- Minimum wage law ​is the base measure of compensation that a business is expecte...

Q: 18. The human effort applied to the production of goods is called in economics

A: To find : What is human effort applied to production of good. 

Q: The owner of a luxury motor yacht that sails among the 4000 Greek islands charges $580 per person pe...

A: Amount charged by the owner of a luxury motor yatch= $580 Number of people signed for cruise= 20 Let...

Q: pls answer this question 9-5 & 9-7 only in ur words within 15-20 minutes without any plagiarism...

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a t...

Q: Assume that unemployment at date t+1, Ut+1, is defined as: Ut+1 = Ut Mt + St, (1) where Ut is unempl...

A: Unemployment, according to the OECD, is people above a specified age not being in paid employment or...

Q: 1 According to the Solow Model, which of the following statements is correct? 1. An increase in the ...

A: When talking about the Solow growth model, it can be said that the changes in population, capital, t...

Q: 2. An analysis of the Social Discipline: consumption among housewives in a middle-income patterns Ex...

A: To find : What will be social discipline. 

Q: d. Expanded use of online payments reduces the amount of money people want to hold. The central bank...

A: Answer: Note: it is not clearly mentioned what changes have to be made. Seeing the figure it seems t...

Q: The labour force participation rate is the Proportion of population that is working

A: To find : What is labor force participation 

Q: Suppose that a consumer has $200 to spend on two goods: beer and pretzels. The price of beer is $6.0...

A: Given; Income of the consumer=$200 Price of beer= $6 Price of pretzels= $3

Q: Which of the following aims to cushion domestic businesses and industries from overseas competition ...

A: There are various methods used to protect domestic business from foreign competition in order to hel...

Q: Judy lives for two-periods. Her utility from consumption in periods 1 and 2 is given by U(C1,C2)=C1 ...

A:

Q: Why does protectionism cost jobs in other unprotected industries? Select the two correct answers bel...

A: Answer: Protectionism provides support and creates jobs in a specific industry but it causes loss of...

Q: How are quintiles calculated? Select the correct answer below: O Calculated using the average of the...

A: Quintiles are defined as the equal numbers of five groups in a population.  

Q: In 2011, the greatest number of legal immigrants arriving in the United States came from: A. India...

A: D. Mexico and China Option "D" is correct. Mexico and China were the countries with the most legal ...

Q: a. Explain briefly what the consumer price index tries to measure? b. Describe three problems that m...

A: The measure that depicts the final value of goods and services being produced in an economy during a...

Q: The following table shows the total output each week of workers on a perfectly competitive cherry fa...

A:   marginal product of labor = (change in total output / change in the quantity of labor) value of m...

Q: Using the model for a closed economy, if the nominal wage is $40 and we have a Cobb-Douglas producti...

A: Cobb douglas production function: Y = KαL1-α α = 0.2 (given) => Y = K0.2L1-0.2 => Y = K0.2L0.8...

Q: 1) Lorenz curve show the inequality in income distribution but it does not show a) the debts involv...

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: Suppose that coconuts and bananas are complements in consumption. Suppose further that the price of ...

A: here we find the answer of the given question as follow;

Q: 8-hour physical work capacity 60% 40% 20% 0% 3 4 5 7 Time Working on Job Figure 2: Maximum physical ...

A: here we explain the MPWC   shown in the given diagram of male and female as follow;

Q: Consider “Providing a Public Good under Incomplete Information". (refer to pages 70-74, lecture note...

A: Given information There are 2 consumer C1 and C2 C1 has 2 strategy and C2 has 2 strategy 2 public go...

Q: Using the supply and demand graph below, identify the areas of consumer surplus and producer surplus...

A: Answer: Consumer surplus: consumer surplus refers to the area between the equilibrium price and the ...

Q: PRet price, indicate this by leaving his or her rectangle in its original position on the palette.) ...

A: The market price for Smartphone is provided to be $175 and in market there are 5 sellers. Sellers ar...