7. Use the following graph to answer questions a-f. a. What area represents consumer surplus before the tax? b. What area represents producer surplus before the tax? c. What area represents consumer surplus after the tax?

Q: 2. Which of these gives the highest effective rate of interest? 16.35% compounded twice every month…

A: A nominal interest rate is computed without consideration of the compounding period while the…

Q: If demand remains constant and supply increases, what happens to price and quantity?     A.…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Show necessary and appropriate steps. No credits will be given to answers without showing necessary…

A: A market is defined as the total number of buyers and sellers in a certain area or region. The…

Q: What is the quantity of labor that produces potential GDP? Potential GDP is produced by the…

A: Gross Domestic Product  GDP calculates the monetary value of the final goods and services purchased…

Q: This economy experienced a contraction in the years_________(Choose one of these: 1980-1981,…

A: Real GDP measures the value of economic outcomes adjusted for price fluctuations at the…

Q: What would be the disadvantages of the United States restricting trade to enhance domestic supply of…

A: It is a complicated and subtle question how commerce will affect how the world recovers from the…

Q: A firm's accounting profit is equal to total revenue minus opportunity costs total revenue plus…

A: The expression “accounting profit means to the total revenue of an organization in the wake of…

Q: Price 10 8 7 9 5 сл 4 3 2 1 0 250 500 750 1000 Quantity of kilos per month 1250 S D

A: Demand is the willingness and capacity of consumers to purchase goods, while supply is the…

Q: Asume you invest $3,500 today in an iveestment that promises to return $7,700 in exactly 10 years.…

A: An investment is an asset or thing gathered fully intent on creating income or recognition. In an…

Q: when the price of poke bowls is $7.5, sally buys an average of 4.3 bowls per week and when the price…

A: The elasticitiy of demand are determined as the percentage of the needed change in quantity to the…

Q: The decision taken by the South African government to sell its majority stake in South African…

A: Government sells it's property for better management and control of businesses.

Q: Suppose that the demand curve for wheat is and the supply curve is Q = 400-40p Consumer surplus Qs =…

A: As we know that price is determined by the market mechanism demand and supply .

Q: What are some potential approaches to achieving global food security

A: Food availability for all people will be guaranteed through global food security. Global food…

Q: The following table shows the annual average data on the employment status of the U.S. civilian…

A: Introduction: Unemployment refers to the situation when the number of job seekers is more than…

Q: In production process if we keep on adding successive units of a variable resources to fixed…

A: If the successive units of variable factors are added to the fixed factor then there would be…

Q: As distinct from pure monopoly, industrial concentration is said to exist whenever: Select one:…

A: Industrial Concentration is a structural characteristic in the trade sector. The sellers…

Q: 4. Assume a demand of Q=800-2P Assume this market is served by a monopoly. MC=AC = $20. a. Calculate…

A: Consumer surplus is the benefits the consumer receives by purchasing the products at the market…

Q: When the government spends tax dollars where does the money come from? What does the government…

A: The taxes paid are used by the government for the better education, investing in technology,…

Q: 1. A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the…

A: Consumer surplus is defined as the difference between consumer is willing to pay and actual pay for…

Q: The table gives data on an economy's real GDP and population in 2019 and 2020. Year 2019 2020 Real…

A: Real GDP:- A nation's pace of economic growth is more accurately depicted by real GDP. To account…

Q: 1. What is is the taxable equivalent yield (TEY) on the following muni bonds, given a 30% tax rat…

A: Tax equivalent yield = Tax free Yield(Annualised) / (1-Tax Rate) Tax Free Yield (by using Excel…

Q: If the sum of P12,000.00 is deposited in an account earning interest at the rate of 9% compounded…

A: Given that, Present value (P) = 12,000 Rate of interest (r) = 9% or 0.09 Number of years (t) = 8

Q: 1. Briefly explain what the term "agglomeration economies" refers to and briefly describe what…

A: 1) A localized economy known as an agglomeration of economies is one in which a significant number…

Q: Compute for the period of deferral of monthly payments of P3,000.00 for 3 years that will start 2…

A: Deferral annuity cash flow, the annual payment is delayed until a certain period of time has passed.…

Q: An annual deposit of P1,500.00 is placed on a fund at the end of each year for 6 years. If the fund…

A: Given,  Annual Deposit : P1,500Time : 6 years Rate of Interest : 5%We need to determine its worth…

Q: A consumer of two goods has utility u(₁,2)=12. She can purchase each good i = 1,2 at a price of p,…

A: Marshallian demand curve actually shows the available part of quantity which is demanded by the…

Q: Which of the following will increase the demand for rice, a normal good? O A decrease in the price…

A: Normal goods are those goods which has positive relationship between the income of the consumer and…

Q: A firm is producing 1,000 units at a total cost of $5,000. If it were to increase production to…

A: The total cost is the sum of the fixed and variable costs. The term "fixed cost" refers to the cost…

Q: Use the following information to determine the Fed's balance sheet and calculate the Fed's Monetary…

A: Fed is the central bank of the United States. The balance sheet is the financial statement that…

Q: A 5-member commodity cartel faces the demand curve: P = 60 - 0.4Q. Each member can produce output at…

A: Whenever a cartel is formed the industry acts like a monopolist and divides the quantity and profits…

Q: Jonathan borrowed $10,000 at 6% annual compound interest. He agreed to repay the loan with five…

A: Fixed periodic payments made over a predetermined period of time are a typical loan payment type.…

Q: Chapter 7 350 300 250- 200- 150+ 100- 50- 3 4 b. $200. c. $250. d. $300. Demand 5. Refer to Figure…

A: Consumer surplus is a significant concept in economics, and it is characterized as the distinction…

Q: In a building construction project, 7,500 feet of insulated ductwork is required. The ductwork is…

A: Total cost refers to the overall expenses incurred in a project. Total revenue minus total cost…

Q: Which of the following is true about signaling theory?     A dividend increase is a sign of a…

A: We know that The signaling theory is based on the concept of asymmetric information, i.e. the…

Q: Suppose that the firm Smith Co sells 10 gowns for $115.00 per gown. Each gown costs $74.00 to…

A: Given  The price of gowns is $115 per gown and Smith sells 10 gowns.  We have to calculate Smith's…

Q: he monthly demand for trotro rides in Kumasi, Ashanti depends on the price of a taxi ride, the price…

A: Elasticity of demand measures the responsiveness of percentage change in quantity demanded due to…

Q: Fill in the table using the given data. Country Canada Netherlands Japan Working-Age (Civilian…

A: We use the following formulas to calculate the missing information: 1) Civilian labour Force =…

Q: The outbreak of the Covid-19 pandemic early this year forced organisations to greatly accelerate…

A: The Covid-19 crisis is a wonderful illustration of how an organisation must examine its operations…

Q: Calculating Price Elasticity Qd = 30 – 3*P P = 2 P = 5 P = 8 P = 6   Calculate elasticity of the…

A: Price elasticity refers to the percentage change in the quantity demanded for a given percentage…

Q: 2. 3. purchase! You borrow $80,000 at 5.00% per year and will pay off the loan in equal payments…

A: The majority of times when taking out a loan for personal use, equal payments will be made either…

Q: Kate deposits P5,000 to her bank account every year when she was in high school for four years to…

A: In the future worth method of alternative comparison, the future worth of various alternatives will…

Q: What is the cross-price elasticity of demand? Based upon your answer, are Netflix and HCCCtinder…

A: Netflix subscribers:- qn.  HCCC tinder subscribers :- qh price of Netflix :- pn         ; price of…

Q: Accounting profit is total revenue less by Select one: a) Implicit costs only b) Implicit and…

A: Economists and Accountants treats profit differently. The main component is costs. For accountants,…

Q: 11. The figure illustrates the competitive market for cell phones. Price (dollars per cell phone)…

A: Here, the given graph shows the market for cell phones in which equilibrium quantity is 100 cell…

Q: Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2…

A: The value of final goods and services produced in a year is known as the nominal GDP. When the…

Q: 4-6 Suppose that the price of croissants rises from $2 to $3 per unit. Use the mid-point approach to…

A: Elasticity of Demand The degree to which demand reacts to a change in an economic component is…

Q: 5. Which entities in the Federal Reserve System control the discount rate? Reserve requirements?…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…

Q: Explain how unemployment changes over the business cycle. Why do these changes occur?

A: Business cycles are the dreary developments and constrictions of movement inside economies. The…

Q: A manufacturer of a product sells all that is produced. The total revenue is given by TR=7q, and…

A: Total revenue function of the manufacturer: TR=7q         .......(1) Total cost function: TC=6q+1…

Q: Why is the p value at the bottom of the first equation .50 versus 1.2? Thank you!

A: Introduction Price elasticity of demand tells how much price is responsive to the demand. Lerner's…