Q: 4. The real GDP in the first quarter of 2020 was found to be $500,000 and the number of hours worked...
A: "Labor productivity refers to real output (GDP) per labor hour." "Growth rate of labor productivity ...
Q: The table shows the cost information for a farm when the farm has three different amounts of capital...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: You won a prize in a contest! There are two choices: take the $500 prize today or wait one year and ...
A:
Q: A manufacturing company has been working with one of its primary suppliers to improve the quality of...
A: COQ is a methodology that allows an organisation to identify how much of its resources are spent on ...
Q: Explain potential conflict of interest in the operational structure of systematically important bank...
A: i) Conflict of interest In a conflict of interest, a person or organization has numerous interests r...
Q: 2. More on Bertrand There are two firms in the market, A and B, producing the same output. Market de...
A: Given information Market Demand function Y=17-P Both firms are producing same output P<=17 Total ...
Q: What is the Importance of Micro-economics. Or Write a short note on the importance of micro economic...
A: Introduction: Microeconomics is an important part of the study of economic theory. It is significant...
Q: Suppose a country currently has a total debt of $13 million. If its GDP in the current year is $7 mi...
A: Debt = 7% of 13 million = (7/100)*13000000 = 910000 Now we have to find out how much percent is 9100...
Q: 3. How much do you need to deposit today (P) to withdraw BD25,000 at n=1, BD3,000 at n= 2, and BD5,0...
A: Given amount to withdraw in year 1 = 25000 Year 2 = 3000 Year 4 = 5000 Interest rate = 10 %
Q: Suppose a monopoly sells its goods in two different markets with demand curves Qi = 150 - P and Q2 =...
A: Demand Curve in market 1 : Q1=150-P1 Demand Curve in market 2 : Q2=150-3P2/4 C=6+6Q2+6Q1 Market 1 ...
Q: An electronics firm is planning to manutacture a new handheid gaming device tor the preteen market T...
A: The data given is:- The production time for 1000 units = 100 hours O&M cost per unit = 0.1 * 25...
Q: When Sue graduated from college, she got a job with a starting salary of $30,000. When Sue's sister ...
A: Sue got a job with starting salary of $30,000 Jan got a job with starting salary of $36,000 after fi...
Q: In a market that allows free entry and exit, when does the process of entry and exit end for the typ...
A: New firms enter the market when existing firms are making a positive economic profit in the short ru...
Q: 1. Why do employers typically pay for specific skills? These skills only work with one employer, thu...
A: Specific skill can be the ability of a person to do something that others are not able to do.
Q: 1. If demand is equally elastic, and price increases from 5 to 7, what is the total change? If price...
A: Elasticity of demand is one of the important economic tool to analyze the market condition and the c...
Q: Explain what is technical efficiency? 2. Explain what is full employment under economic efficiency
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: QUESTION 6 Of the 400,000 people (age 16-64) in a particular country, 100,000 people are not employe...
A: Formulas: 1. Employment to population ratio = (Employed population / Total population) * 100 2. Unem...
Q: Question Two (Government actions that reduce market power) A monopoly drug company produces a lifesa...
A: A price ceiling is an upper limit on the price implemented by the government. It is the type of pric...
Q: b2 b1 4,20 10,2 a1 9,14 6,28 a2 1-п-о 12,4 8,6 a3 1-T The Equilibrium Existence Theorem guarantees t...
A: Mixed strategy games are those in which players choose any strategy based on a probability distribut...
Q: A firms production function is Q (L) = 15L2 - 0.1L3 = where output (Q) is a function of a single in...
A: (i) Total Product=Output=15L2 - 0.1L3 FOC: Maximizing TP : Differentiating TP function wrt L and equ...
Q: 4. To meet the equilibrium point given the level of output is constant, how much increase in interes...
A: Here the interest rate is is 0.6 shown by a horizontal line and the given output level is 120
Q: If an investment has an estimated cost of £1000, and it offers £550 the first and the second year af...
A: The internal rate of return (IRR) is the interest rate that makes the net present value (NPV) zero. ...
Q: TRUE or FALSE. If the statement is correct, write TRUE on your answer sheet. If the statement is inc...
A: In a market, additional information about a specfiic good will influence the demand and supply decis...
Q: What is the condition of tax incidence in the Philippines, who carries the burden more? Give example...
A: The distribution of a tax's economic burden among the affected parties is known as tax incidence. It...
Q: Problem 1. Ramsey (a) Rewrite and explain the main equilibrium equations of the Ramsey model assu...
A: Note: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts ...
Q: P1. Let’s assume there are only 2 countries that produce 2 good. More specifically, suppose that t...
A: Given: The US can produce 40 units of Wine with 1 unit of productive resources and 40 units of Cloth...
Q: MODIFIED TRUE or FALSE. Write "T" if the given statement is TRUE, correct and valid. Write "F", if o...
A: Perfectly competitive market: In a perfectly competitive market there are a large number of buyers a...
Q: Consider a monopsonist firm which faces a labour supply given by / = w- 50, where is the number of w...
A: A Monopsonist is a single buyer in the market. In the labor market, it is a single employer. It has ...
Q: 1. For the following production functions, find the firm's (long run) conditional factor demand func...
A: A firm minimizes cost by employing the number of inputs at the point where marginal rate of technica...
Q: Please answer in paragraphs. Rate will be given! Give an example of an Elastic product, what makes ...
A: Elasticity is an important concept used in business to determine the extend to which the quantity de...
Q: Player 2 y 1,3 1,1 0,2 Player 1 b 3,1 2,2 1,0 C 0,2 1,2 3,0 If both player 1 and plater 2 are ration...
A: We will find the pure strategy nash equilibrium for this question. So, we have: If Player 2 chooses...
Q: Express the equation of the budget line 4x + 5y - 300 = 0 in the: (i) intercept form and (ii) slope ...
A:
Q: Derive the relationship between MPL and MC algebraically. Why is this relationship critical to showi...
A: When one additional unit of labour (in most situations, one additional employee) is added to a compa...
Q: Several members of Parliament have been greatly concerned about the fairness of salaries in the mark...
A: Minimum wage is the form of price floor which is set by the government in order to protect the emplo...
Q: The majority of the countries have saving rates that are below the golden rule level. Why is it diff...
A: The per capita capital is the ratio of total capital to output. It means the rise in output results ...
Q: A manufacturing company has been working with one of its primary suppliers to improve the quality of...
A: COQ is a methodology that allows an organisation to identify how much of its resources are spent on ...
Q: Countries which export more than they import have a balance of payments trade surplus trad...
A: The statement that reflects the transactions between one country and the rest of the world is known ...
Q: ej Maximize f=g00sc t1200 Y-33CY -1-5x²-3Y? The totet cost functon C=29=+ 2000 -409-0493, find the n...
A: f) C=2q2+2000-40q-0.1q3AC=2q2+2000-40q-0.1q3qAC=2q+2000q-40-0.1q2∂(AC)∂q=2+2000(-q-2)-0.2q ...
Q: What is the law of diminishing returns and what does it imply about the shape of the firm’s average...
A: The shape of cost and production curve depend on the law of variable proportion of Factors in shor...
Q: M/c question - Micro 31) Refer to Figure 14-13. When a firm in a competitive market, like the one d...
A: Competitive market is the market where price , marginal Revenue and Average revenue are equal to ea...
Q: questions below pertain to converting the following a, A→ X b. AY a, Y →A b, X → A A, AX Question 4 ...
A:
Q: Explain Net present value with the formula.
A: Net Present Value Net present value basically refers to the difference between the current worth of ...
Q: Consider the Nash Bargaining game. There are 2 players who have to decide how to split one dollar. T...
A: A Bargaining Game is defined as a game where two or more players bargain on how to equally divide th...
Q: In its 2021 Budget, the Canadian federal government estimated that for the fiscal year 2021-22, its ...
A: Large federal budget deficits are dangerous to the fiscal health of the Canadian federal government....
Q: GRAPH SETTINGS Reset Country-X Initial Value ($50 – $10,000) 1,000.00 Value (thousands of dollars) [...
A: The correct answer is given in the second step.
Q: 27) What do we know about fixed costs? A. They are incurred only when production is at capacity B...
A: The firms operating in a market incur two types of costs, fixed costs, and variable costs. Variable ...
Q: 33) In a competitive market that is characterized by free entry and exit, what will be the result? ...
A: The market where there tend to exist many producers that tend to compete in order to provide consume...
Q: Consider the following simple model of the Mile End Park Beautification Initiative (from the lecture...
A: The Nash equilibrium is a dynamic hypothesis inside game hypothesis that expresses a player can acco...
Q: Normative analysis can best be shortened to ___________, while positive analysis is best shortened t...
A: Answer: Introduction: It is clear that normative analysis, often known as normative economics, is pr...
Q: 6. A transfer payment is a govermment payment A not made in exchange for a good or service. B. to co...
A: Note: We will answer the first question since the exact one wasn't specified. Please submit a new qu...
Explain the events in one sentence
Step by step
Solved in 2 steps
- Q4 (i) A business manager determines that t months after production begins on a new product, the number of units produced will be P thousand,where P(t) =6t2 + 5t (t + 1)2. What happens to production in the long run ? (ii) A ruptured pipe in a North Sea oil rig produces a circular oil slick that is y meters thick at a distance x meters from the rupture.Turbulence makes it difficult to directly measure the thickness of the slick at the source (where x = 0),but for x > 0,it is found that y =0.5(x2 + 3x) /x3 + x2 + 4x.Assuming the oil slick is continuously distributed,how thick would you expect it to be at the source?answer with given formulaand complete solution with explanationA technological change that permanently lowered energy costs would cause the: Group of answer choices AS curve to shift to the left. AS curve to shift to the right AD curve to shift to the left. AD curve to shift to the right.
- i. List all the endogenous and exogeneous variables in the model.the following mundell-fleming model of a small, open economy will be used in all numerical exercises. it assumes a short-run framework in which prices are constant and output is demand-determined. c=150+0.8(y-t) i=500-30r nx=400-150e m/p=50+y-60r r=5 g=300 t=100 m=3000 p=3 the above values of exogenous variables will be referred to as their original values in the questions below. for this question, assume that the exchange rate is floating. derive the equilibrium equations for is* and lm*, sketch a graph of the two equations and solve for the equilibrium values of y, e and nx.the following mundell-fleming model of a small, open economy will be used in all numerical exercises. it assumes a short-run framework in which prices are constant and output is demand-determined. c=150+0.8(y-t) i=500-30r nx=400-150e m/p=50+y-60r r=5 g=300 t=100 m=3000 p=3 the above values of exogenous variables will be referred to as their original values in the questions below. for this question, assume that the exchange rate is floating. derive the equilibrium equations for is* and lm*, sketch a graph of the two equations and solve for the equilibrium values of y, e and nx. b)Suppose the Treasury attempts to stimulate the economy by decreasing taxes T from 100 to 70. Calculate the new values of Y, e and NX. With the help of the graph you sketched in (a), explain the mechanism by which a new equilibrium is reached. answer part b
- the following mundell-fleming model of a small, open economy will be used in all numerical exercises. it assumes a short-run framework in which prices are constant and output is demand-determined. c=150+0.8(y-t) i=500-30r nx=400-150e m/p=50+y-60r r=5 g=300 t=100 m=3000 p=3 the above values of exogenous variables will be referred to as their original values in the questions below. for this question, assume that the exchange rate is floating. Suppose the Treasury attempts to stimulate the economy by decreasing taxes T from 100 to 70. Calculate the new values of Y, e and NX. With the help of the graph you sketched in (a), explain the mechanism by which a new equilibrium is reached.Bell Greenhouses has estimated its monthly demand for potting soil to be the following: N=400+4X where N=monthlydemandforbagsofpottingsoil X=timeperiodsinmonths(March2006=0) Assume this trend factor is expected to remain stable in the foreseeable future. The following table contains the monthly seasonal adjustment factors, which have been estimated using actual sales data from the past five years: Forecast Bell Greenhouses demand for potting soil in March, June, August, and December 2007. If the following table shows the forecasted and actual potting soil sales by Bell Greenhouses for April in five different years, determine the seasonal adjustment factor to be used in making an April 2008 forecast.Kusho Industries produces and sells computer chips. Its (hourly) production function is Q=4K 0.4L 0.6 while its (hourly) cost function is C=20L+80K. Furthermore, Kusho must produce q0=400 computer chips per hour. a. Which levels of L and K satisfy the first-order conditions for the constrained minimisation of Kusho’s cost? Use the Lagrange Multiplier (LM) method. Also, find and interpret the value of the Lagrangemultiplier b. Show that MRTS=w at the constrained cost minimising levels of L and K obtained above
- Bell Greenhouses has estimated its monthly demand for potting soil to be the following: Assume this trend factor is expected to remain stable in the foreseeable future. The following table contains the monthly seasonal adjustment factors, which have been estimated using actual sales data from the past five years: MONTH ADJUSTMENT FACTOR (%) March +2 June +15 August +10 December −12 a. Forecast Bell Greenhouses’ demand for potting soil in March, June, August, and December 2007. Answer b. If the following table shows the forecasted and actual potting soil sales by Bell Greenhouses for April in five different years, determine the seasonal adjustment factor to be used in making an April 2008 forecast. YEAR FORECAST ACTUAL 2007 500 515 2006 452 438 2005 404 420 2004 356 380 2003 308 320b.A clothing manufacturer makes trousers, skirts and blouses. Each trouser requires 20 minutes of cutting time, 60 minutes of sewing time and 5 minutes of packaging time. Each skirt requires 15 minutes of cutting time, 30 minutes of sewing time and 12 minutes of packaging time. Each blouse requires 10 minutes of cutting time, 24 minutes of sewing time and 6 minutes of packaging time. The amount of time available for cutting, sewing and packaging is 115 hours, 280 hours and 65 hours respectively. Using either the Inverse Method or the Cramer’s Rule, determine how many of each type of clothing should be made to use all available labor hours?i will 3 upvotes you will correct answer