8. a. b. C. d. e. Smith, Ricardo and Marx all had supply and demand curve price theory price being determined by conditions of production and reproduction supply and demand curves an objective theory of value based on labor nothing better to do than analyze socialism
Q: EXCHANGE RATE (Dollars per euro) The following graph shows the short-run supply schedule (S,) and…
A: The initial equilibrium exchange rate is $1.20 per euro. When the demand for euros increases to D1,…
Q: can you give a detailed deverlped answer for this question , showing an understanding of the topic,…
A: The formula for calculating the levelized cost of electricity (LCOE) for a specific energy source is…
Q: Question 1 Consider AF from our previous Comprehension Assessment. It was among a handful of firms,…
A: The objective of the first question is to determine the optimal amount of advertising investment per…
Q: Give explanation steps and take like
A: This statement is incorrect because it states that the nominal exchange rate appreciates when the…
Q: 3. The effect of negative externalities on the optimal quantity of consumption Consider the market…
A: The social cost curve takes into account both the private cost of production and the external cost…
Q: view picture
A: For the other parts, I've provided explanations above, which are: An increase in the price level in…
Q: solve 3 blanks
A: Given, the firms collude. Hence, the firms will face the market demand curve. So their marginal…
Q: Please provide homework help with the attached image. Thank you.
A: (d)Opportunity Cost from D to E is =89−0850−650=2.25It means it need to sacrifice 2.25 value of…
Q: In what way(s) is a monopolistically competitive firm inefficient? Group of answer choices It…
A: The question is asking about the inefficiencies that are associated with a monopolistically…
Q: None
A: Analyzing Replacement of Sludge PumpGiven Information: Defender (Existing Pump): Initial…
Q: Consider the town of Acaford with a population of 5,000 people. There are 1,000 high school…
A: Suppose that the government sets the poverty line at an annual income of $5,000. The percentage of…
Q: None
A: To solve this problem, we need to find the profit-maximizing quantity and price for the bakery's…
Q: Based on the table below, calculate nominal GDP, real GDP, the GDP deflator, and the inflation rate…
A:
Q: If new technology in a perfectly competitive market brings about a substantial reduction in costs of…
A: Let's dissect it in detail. In a perfectly competitive market, new technology that lowers…
Q: Considering the level of the US minimum wage is should be the minimum wage in the US is Positive;…
A: Positive economics deals with objective analysis of economic phenomena, focusing on describing how…
Q: The super powerful expert Hand written solution is not allowed No answer from Chat GPT please
A:
Q: None
A: To solve this problem, we need to understand the concept of the marginal propensity to consume (MPC)…
Q: Demand for a certain product is given by the function P_d=40Q_d+3, and supply of a product, by the…
A: Determining the Producer SurplusTo calculate the producer surplus, we need to find the area between…
Q: Show that the sample variance of a random variable X is a consistent estimator of the population…
A: The objective of this question is to demonstrate that the sample variance of a random variable X is…
Q: Answer all questions, show all working. Marta and Sara are two students that devote part of their…
A: Detailed explanation: Extensive Form Representation of the GamePlayers:Marta (M)Sara…
Q: 9. Use of discretionary policy to stabilize the economy Should the government use monetary and…
A: The contractionary policy must be used as economy is experiencing expansionary gap. It will shift…
Q: Please give exact answer and exact steps and take a like
A: Let E = Event that Henry complete the route under 24 minutes. So E' = Event that Henry does not…
Q: 7. Short-run supply and long-run equilibrium Consider the competitive market for thenium. Assume…
A: Ans. ) Given the question, there is a competitive market for rhenium. A market is said to be…
Q: Question 7 (7 points): Volume/Open Interest Calculation. Fill in the numbers for Volume and Open…
A: "New Sell" (NS) indicates opening a new short position. "New Buy" (abbreviated "NB") suggests the…
Q: Outline the median voter theorem and explain its importance to the successful application of a…
A: Hi there! To help you more with your assignment, here are additional comprehensive references you…
Q: Directions: Answer the following questions using COMPLETE sentences. 1. Draw the circular flow of…
A: 1.In the circular flow model, the economy is simplified into two sectors: households and…
Q: Give step by step answer and take a like
A:
Q: Question 7 Superior technology deteriorates labor productivity and increases total supply of goods &…
A: a) lowers the overall productivity of workers while simultaneously raising the total supply of…
Q: Based on the given figure, the economy is initially at point A on the monetary policy reaction…
A: Monetary Policy Reaction Function (RF): The monetary policy reaction function shows how the central…
Q: The young and beautiful expert Hand written solution is not allowed
A: To calculate the duration gap, we need to first compute the weighted average durations of assets and…
Q: ! Required information For equipment that has a first cost of $19,000, the estimated operating costs…
A: The given data are executed in excel.Therefore, the economioc service life ESL will be 5 years…
Q: Q1 2 Points A representative household receives utility from consumption c and supplying labor/:…
A: Detailed explanation:Utility Function: The utility function given is u(c,l)=c+φ1−l. This…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Introduce the problemWhether a firm will enjoy a profit or incur a loss depends upon the price and…
Q: Which alternative would you recommend to the client? Why? (select all that apply) Question 4…
A: The objective of the question is to determine the best shipping alternative for a client who needs…
Q: provide A and B both answer with explanation
A: In the image, there's a multiple-choice question asking about a shortcoming of using real gross…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: To determine the profit-maximizing level of output, the firm will produce where marginal cost (MC)…
Q: 2. According to an old myth, native Americans sold the island of Manhattan about 400 years ago for…
A: Part 2: Explanation:Step 1: Calculate the future value of $24 after 400 years with a 10% annual…
Q: 16. The accompanying graph shows the short-run demand and cost situation for a price searcher in a…
A: 16.
Q: S E Q Q D Q Suppose a price ceiling of P2 is imposed on the competitive market depicted in the…
A: The imposition of a price ceiling at P2 results in the following changes in consumer surplus: Gain…
Q: The young and great expert Hand written solution is not allowed
A: To determine the economic service life and the respective present worth (AW), we'll calculate the…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Initially the economy is at point C. When money supply in an economy increases, the interest rate…
Q: Ivana Vukadinovic (Presenting) In addition, Red Rock Construction owes Abco Inc. $824, due to be…
A: Part 2:Explanation:Step 1: Determine the future value (FV) of the debt:Using the formula for the…
Q: Hello please provide homeowrk help with the following usung the image provided. Thank you.1. What is…
A: In order to provide answers to these concerns, we must first determine which nation possesses the…
Q: Money Market Mutual Fund Balances Held by Businesses $ 110 Money Market Mutual Fund Balances Held…
A: The objective of the question is to calculate the money supply M2 for the given economy. The M2…
Q: Distribution of Costs Among Voters Figure 6-1. This table illustrates the four possibilities of the…
A: A distribution of costs and benefits is referred to as Type D in the context of Figure 6-1. This…
Q: Which of the following statements about external costs is TRUE? A Economics uses the term "external…
A: Here's why the other options are incorrect:a) Incorrect: External costs can be significant and have…
Q: 8. (LO 3) Suppose that a certain type of SUV costs $32 000 in Canada, but sells for 18 000 British…
A: a) Value of the Real Exchange Rate: The real exchange rate reflects the relative purchasing power of…
Q: Two businesses contribute to maintaining green spaces. Every year the companies 1 and 2 decide how…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Which of the following statements accurately describes a monopolistically competitive firm? Group of…
A: The objective of the question is to identify the correct statement that accurately describes a…
Step by step
Solved in 2 steps
- “The Prime Minister claims that funding the increase in NHS and social care spending by national insurance [paying higher NICs] is preferable, because firms pay part of the cost. This is a fiction. In the long run the burden of payroll taxes, even those paid by companies, falls on workers, whose wages fall as their employers’ tax bills rise.” The Economist 11-09-202. Is “The Economist” right in its counter-claim? (Hint: use a market equilibrium model of demand and supply for labour)At some colleges and universities, economicsprofessors receive higher salaries than professors insome other fields.a. Why might this be true?b. Some other colleges and universities have a policyof paying equal salaries to professors in all fields.At some of these schools, economics professorshave lighter teaching loads than professors insome other fields. What role do the differences inteaching loads play?MCQS with reason 5 . In a mixed economy which sector(s) is/ are found (a) Private Only ; (b) Public sector only ; (c) None ; (d) Both a and b 6. In economic theory the term “means” refers to (a)Resources ; (b) Arithmetic mean ; (c) A characteristic ; (d) None 7. Market equilibrium of a commodity is determined by (a)Balancing of demand and supply position ; (b) Aggregate demand ; (c) Aggregate supply; (d) Government intervention 8. Economic resources are (a) Unlimited ; (b) Limited in supply and use ; (c) Limited in supply but have alternative uses; (d) Unproductive 9. Which of the following is/ are not an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d)Air 10. Which of the following is/ are an economic
- Economics: Labor Economics Question: 1 Labor demand and supply of a market are given by w = 32 - 5Ed and w = 4 + 2Es. Please show work for each part. a.What is the equilibrium employment in this market? [a] b.What is the equilibrium wage in this market? [b] Question: 2 The marketplace is currently in equilibrium as indicated by the tangency condition shown below. Assume capital and labor are substitutes. Suppose technological improvements increase the productivity of capital but have no effect on the productivity of labor. In terms of its use of capital and labor what would you expect firms to do to re-establish equilibrium? (MPe/W) = (MPk/r) Thank you for your help and support Instructor Agent!Draw a model: Consider the market for corn. Suppose that right now, the equilibrium price is considered “too low” by farmers (i.e. suppliers) in order to make a living. These farmers go to their state representatives and convince them to enact a price floor that is above the equilibrium price. Depict this situation graphically. Is there a shortage or a surplus (or does nothing happen)? Now, conceptually, describe how we know with certainty, that consumers are harmed by this policy. Then, describe conceptually how farmers may be harmed or may benefit from this policy. Graphically depict how we know that consumers are harmed while farmers may be better or worse off (ambiguous). If we were to consider the “total surplus” of consumers and farmers, can we say with certainty whether this economy is better or worse off from the price floor?Distinguish between the following concepts:I. Microeconomics and macroeconomicsII. II. Scarcity and choiceIII. Opportunity cost and scale of preference.b. With the aid diagrams show the differences between the following:I. Increase in demand and increase in quantity demand II. Decrease in supply and decrease in quantity suppliedIII. Price ceiling and price floor
- A visiting American executive finds that a foreign subsidiary inBangladesh has hired a 12-year-old girl to work on a factoryfloor, in violation of the company's prohibition on child labour.He tells the local manager to replace the child and tell her to goback to school. The local manager tells the American executivethat the child is an orphan with no other means of support, andshe will probably become a street child if she is denied work. explain Cultural Relativist based on the statement givenCategorize the following as microeconomic or macroeconomic questions: iv) Why is the Barbados experiencing high rates of inflation? (v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year oldThe table below is an illustration of Pareto efficiency criterion after the implementation of a state income policy in some selected Ministries . Before policy. After policy Ministry A. 400 800 Ministry B. 200 200 Ministry C . 300 300 Total. 900 1300 Requiredi) a) Is there a Pareto improvement? Why? b) With reference to the table, explain Pareto optimality.c) Analyse the welfare condition of the Ministries after the income policy. ii) There is a trade-off between equity and efficiency in a perfectly competitive market system.Analyse with the aid of a diagram how efficiency will not be compromised in government’s welfare program.
- a) i)Explain difference between; ii,Microeconomics and macroeconomics iiiPositive and Normative economics b) Given the following demand and supply functions as; i)Find the price elasticity of demand and price elasticity of supply at the equilibrium point. ii)Based on the values obtained from Price elasticity of supply in (i) above, what advice would you give to the producer if he is to increase revenue? iv)Using illustrations, distinguish between Minimum and maximum price v)Assuming the government, set the price at 45shs, determine whether its minimum or maximum price, and state the surplus or deficitConstruct the Two-commodity market model and find out th set of equilibrium prices mathematically?3. Managerial economics involves the application of economic theory and decision science. POONAM CHAND. a. Trueb. False