Q: -. All inputs can be varied in O Short run
A: To find : When do input varies.
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A: GDP refers to the production of goods and services during an accounting year. it is assumed that mor...
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A: Elasticity Elasticity is an term used in economics that describes how the aggregate quantity demande...
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- True or False explain 2. A consumer’s budget line is kinked towards the origin (i.e., the kink is pointing towards the origin) if this consumer faces a lower price per unit of x as more x is consumed.The price of the commodity is P4/unit. Complete the table below Note: The table has already been answered and the three sub-parts. ONLY NO. 4 AND 5 HAVE LEFT UNANSWERED Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 -100 10 90 10 40 100 40 140 4 10 14 4 4 -100 20 80 20 80 100 55 155 2.75 5 7.75 4 1.5 -75 30 70 30 120 100 67 167 2.23 3.33 5.567 4 1.2 -47 40 60 40 160 100 77 177 1.925 2.5 4.425 4 1 -17 50 50 50 200 100 86 186 1.72 2 3.72 4 0.9 14 60 40 60 240 100 93 193 1.55 1.67 3.216667 4 0.7 47 70 30 70 280 100 113 213 1.61 1.42 3.04 4 2 67 80 20 80 320 100 143 243 1.7875 1.25 3.0375 4 3 77 90 10 90 360 100 183 283 2.03 1.11 3.14 4 4 77 100…Price1 Price2 Quantity 1 Quantity2 demand for a.cashews 7.50dollar per pound 6.00 dollar per pound 800 pounds per month 1,000 pounds per month 65 per year b.portable hard drive (1 terabyte) 80 dollar 120 dollar 75 per year 65 per year c.12-gauge copper wire 0.60 per lineal foot 0.45 per lineal foot 2,5000 lineal feet per week 5,000 lineal feet per week d.Toothpaste 2.00 dollar per tube 2.40 dollar per tube 10 tubes per moth 9 tubes per month Using the midpoint formula, calculate elasticity for each of the following changes in demand.
- 1. What are the 3 components for Economics Efficiency ? 2. Economic Systems rarely exist in a pure form. Kindly enumerate the 6 classification of systems based on the dominant characteristics of Economic system? 3. What is the Capitalist Ideology? 4. What is supply and demand in simple terms and cite an example? 5. Price Elasticity of Demand is how economists measure the responsiveness of quantities demanded to changes in prices?9. Consider the market for SUVs. a. Start in Equilibrium (be sure to label all relevant points) b. Change at least one of the ceteris paribus conditions. Now consider the market for SUVs if a hurricane hits in the gulf region, damaging some of the oil platforms and oil refineries in the region. c. Examine the changed incentive. Which curve(s) has(have) changed? Why? (i.e. – which of the ceteris paribus conditions have changed?) _______________________________________________________ d. Identify the change(s) in direction, and draw into the above market. e. Finish in equilibrium. What are the effects on price and quantity?Only typed answer and don't use chat gpt Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, if the market quantity demanded is 5, the price must be A. $3. B. $6. C. $9. D. $12.
- Question 25 Economists say that a market where goods are not consumed by those valuing the goods most highly is O laissez-faire.. unequal. O inefficient. O rational. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accuraAnalyze relationship btween law of demand and law of diminishing marginal cost? B)Draw a graph to illustrate between a decrease in quantity demanded and a decrease in demand for registration cards of rashid latif cricket academy haripur.give posible reason for each.A. What is the profit-maximizing price and quantity? B. What is the revenue-maximizing price and quantity? C. When total cost exceeds total revenue, profits are?
- Table 24-5The table below pertains to Wrexington, an economy in which the typical consumer’s basket consists of 20 pounds of meat and 10 toys. Year Price ofMeat Price of aToy 2004 $3 per pound $2 2005 $1 per pound $7 2006 $4 per pound $5 Refer to Table 24-5. The cost of the basket Group of answer choices increased from 2004 to 2005 and increased from 2005 to 2006. increased from 2004 to 2005 and decreased from 2005 to 2006. decreased from 2004 to 2005 and increased from 2005 to 2006. decreased from 2004 to 2005 and decreased from 2005 to 2006.a.Why should MC curve cut MR curve from below to achieve producer's equilibrium? b.With aid of the examples, explain why firms practice product differentiation.4. Explain each key ingredients. (ii) There should be willingness to buy the product.
