A consumer posted a favorable comment about Costco on Costco's own Youtube Channel. From Costco's perspective, the comment was what type of media? O Paid Owned The intersection of Paid and Earned O The intersection of Owned and Earned The intersection of singular and Owned
Q: Tom has the following utility function: U = FC2 where F is food and C is clothing. Show that…
A: 1. U = FC2 1. Marginal Rate of Substitution (MRS) is the rate at which a good is sacrificed to get…
Q: Suppose the government of Mexico runs a budget deficit. This will result in: O A. an increase in…
A: "Budget deficit means government spending exceeds government revenue (through taxes)."
Q: Does free international trade contribute to the global fight on poverty. Discuss.
A: The transfer of services and goods from one entity or person to another, being in exchange for money…
Q: An office supply company has purchased a light duty delivery truck for $15,000. It is anticipated…
A: The annual worth is the net of the multitude of advantages and costs brought about in more than a…
Q: Draw the graph. If the monopoly is a single price monopoly then: the monopoly produces a quantity Q…
A: 1. The monopoly produces a quantity 3, where MC=MR
Q: The quadrant on which IS and LM are plotted is known as IY space? true or false
A: IS line shows the goods market equilibrium and it is downward sloping curve which shows Inverse…
Q: why is a large GDP a good thing for the economy and sosociety? what would a large GDP mean to an…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Price (Dollars per Garment) 7 D E 5 AC=MC Demand Marginal Revenue 10 20 Garments cleaned per year…
A: In perfect competition there are large number of firms and in monopolistic market there is only one…
Q: A local college is deciding whether to conduct a campus beautification initiative that would involve…
A: In order to decide whether to undertake a project or not, the benefit and costs of the project…
Q: 14. Audrey buys a piece of lot for P160,000 down payment and 12 deferred semi-annual payments of…
A: The entrance and outflow of cash and cash equivalents are referred to as cash flow. The cash flow of…
Q: Use 5 countries of your choice to show interdependence among them as a result of trading
A: When trade of goods and service is done with Nations it is called International trade .…
Q: True or false: In a constant-cost industry, a tax of a constant, fixed amount on each unit of output…
A: PLEASE FIND THE ANSWER BELOW.
Q: Suppose country A has abundant labor and scarce capital. Product L requires labor intensive…
A: In an open economy, it can be seen that the country is generally exporting a good that is produced…
Q: 4. Cherry Market The short run equilibrium market price in the perfectly competitive cherry market…
A: Given Short-run cost function: SRTC=Q2+3Q+3 .... (1) Market price p*=9
Q: If two persons are trading in two different categories, he would get best output from one and a…
A: Trade refers to a core economic concept that is basically the buying and selling of commodities and…
Q: What does it mean by "Institution-based considerations" when pertaining to strategizing with…
A: Corporate social responsibility include all the business ethics that should be followed by the…
Q: A new oven will save $130 per year in electricity expense. How much can we afford to pay for this…
A: * SOLUTION :-
Q: Three firms share a market. The demand function is P(q1, 92, 93) = 10 – q1 – 92 – 93, where q; is…
A: We have firm 1 as a leader and firm 2 and 3 as the followers.
Q: What factors affect a person’s choice of careers?
A: The main purpose of managerial economics is to assist people in making better decisions.\Making a…
Q: Define scarcity and identify two causes of scarcity?
A: Scàrcity it is the term of If the demand for a product is higher thàn its supply, then a shortàge…
Q: 2.2. Market Equilibrium for Breakfast Cereal - 1 Scenario1: Consider wheat, an input into many final…
A: Wheat is used in making breakfast cereal. It is expected to have in reducing mountain snowpack in…
Q: Price Average (dollars Marginal cost per unit) 10 cost 4 Demand 2 Marginal revenue 10 20 30 40 45…
A: The markets are the place where the interaction and meeting of the buyers and sellers take place. In…
Q: that $300 for a weekend getaway. uilding mural is a public good, both Nick and Tim will benefit from…
A: Given that, The public good is divided by non-rivalry and non excludability. No one can decrease the…
Q: Economic depreciation is the A) term given to a fall in a company's stock price. B) name given to…
A: Economic depreciation is the opportunity cost of the firm using capital that it owns. It is measured…
Q: Assume the economy is initially in equilibrium with desired aggregate expenditure equal to real GDP…
A: Aggregate demand curve shows the negative relationship between the price level and output of the…
Q: If the Keynesian AD shortfall is $425 billion and MPC is 0.86, calculate the size of the desired tax…
A: Marginal propensity to consume refers to the change in consumption with respect to change in income.
Q: 22. If two persons are trading in two different categories, he would get best output from one and a…
A: When the two countries are involved in a free trade, a country should produce the good in which it…
Q: d) Derive the LM curve. e) Find the equilibrium values of Y and r. f) The central bank wants to…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Give an example of something that would increase GDP but would be considered undesirable and explain…
A: An increase in GDP could raise people's living standards and improve their quality of life. GDP is a…
Q: What does it mean by "A comprehensive model of corporate social responsibility" when pertaining to…
A: Understanding CSR as a collection of discrete disciplines unavoidably narrows the scope of the…
Q: Increasing marginal returns to labor A) describe the portion of a total product curve where the…
A: Marginal returns of labor is the additional output produced by employing an additional unit of…
Q: Which of the following policies permits a specific quantity of goods to be imported at one tariff…
A: A country will import the good if there is a shortage of that good, it implies as quantity demanded…
Q: Why is the American economy called a mixed economy?
A: A mixed economic system is defined as a economic system in which there are features of both…
Q: Explain it correctly not copy paste Q)In the Real Business Cycle model, what is the effective…
A: Effective investment refers to the net addition to the capital stock of economy which is measured by…
Q: _______ A monthly index that measures changes in pricesthat consumers pay for goods is referred to…
A: Inflation is defined as an increase in the prices of almost all the goods and services produce an…
Q: Which of the following is international trade? a. Trade between regions b. Both (b) and (c) c.…
A: International trade is very beneficial for the economy of a country because it influences the GDP of…
Q: For ten years, a man inherited a 100,000 endowment every three months. He may, however, elect to…
A: According to the question, Value of Principal = 100,000 Time period = 4 years compounded quarterly…
Q: 35 Which of the following is TRUE about exchange rates? A They are more volatile than several…
A: Exchange Rate Volatility:- The regularity and magnitude of variations in a value of currency is…
Q: Problem 4 Consider a two-stage game where two players, Ann and Beth, must first decide on a game to…
A:
Q: In the long-run, any perfectly competitive firm that produces will choose a quantity such that
A: The market is a location where the transaction of services and commodities takes place. It is…
Q: 87366 Econ121 Sara Co = Homework: Chapter 1 Homework Question 3, Concept Question A.1 Part 1 of 2 HW…
A: Answer: Given, Sales in week 1 = 25 Sales in week 2 = 15 Decrease in sales from week 1 to 2 = 25 -…
Q: 3) The demand for ski lessons is given by D(p) 100-2p and the supply is given by S(p)= 3p. %3D (a)…
A: Welfare economics is a discipline of economics that studies how the allocation of resources impacts…
Q: Give the formulas for and plot average fixed cost, AFC, marginal cost, MC, average variable cost,…
A: Differentiating the above total cost function with respect to Q, we get the marginal cost function.…
Q: The value of this graph as is becoming clear! Now let's consider a case in which the relationship…
A: Supply curve refers to the curve that shows the various quantities of a good or service supplied or…
Q: #1 What is it about the shhort run that makes it so that monetary can be effective? What do we mean…
A: In the mentioned question we have been asked what exactly effective state when it comes about…
Q: Consider a cost sharing problem with three agents who demand 1, 2 and 3, respectively. In general,…
A: (a). Cost of collective demand (cost D) = (x₁+x2+x3)2 Where D = collective demand = x1 + x2 +…
Q: Choose the best/correct answer. ___1. The elasticity coefficient is more than or greater than one.…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first three questions for…
Q: 43. Find the equivalent rate of interest of 9% compounded quarterly to an interest rate compounded…
A: Given interest rate = 9 % compounded quarterly Effective annual rate = (1 + rate)^time - 1 = (1 +…
Q: Consider a graph of a natural monopoly: MC C MR mire where a=23; the slope of the inverse demand is…
A: Natural Monopoly are the firm which has large fixed cost and operate at economies of scale . Profit…
Q: The vertical long-run aggregate supply curve satisfies the elassical dichotomy because the natural…
A: Aggregate supply curve shows relationship between price and real output supplied.
Step by step
Solved in 2 steps
- The market for apple pies in the city of Ectenia iscompetitive and has the following demand schedule:Price Quantity Demanded$1 1,200 pies2 1,1003 1,0004 9005 8006 7007 6008 5009 40010 30011 20012 10013 0Each producer in the market has fixed costs of $9 andthe following marginal cost schedule:Quantity Marginal Cost1 pie $ 22 43 64 85 106 12a. Compute each producer’s total cost andaverage total cost for each quantity from 1 to6 pies.b. The price of a pie is now $11. How many pies aresold? How many pies does each producer make?How many producers are there? How much profitdoes each producer earn?c. Is the situation described in part (b) a long-runequilibrium? Why or why not?d. Suppose that in the long run there is free entryand exit. How much profit does each producerearn in the long-run equilibrium? What isthe market price? How many pies does eachproducer make? How many pies are sold inthe market? How many pie producers areoperating?Fred currently works for a corporate law firm. He is considering opening his own legalpractice, where he expects to earn $200,000 per year once he gets established. To run his ownfirm, he would need an office and a law clerk. He has found the perfect office, which rents for$50,000 per year. A law clerk could be hired for $35,000 per year. If these figures areaccurate, would Fred’s legal practice be profitable?Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building is $4,000, the cost of the two secretaries is $50,000, and the cost of electricity and gas comes to $5,000. There’s a great demand for his information, and his total revenue amounts to $100,000. By working in the firm, though, Economan forfeits the $55,000 he could earn by working for the Friendly Space Agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in this business.a. What is his profit or loss by an accountant’s definitions?Instructions: Enter your response rounded to the nearest whole dollar and use a (-) if the number is negative.Accounting profit: $ b. What is his profit or loss by an economist’s definitions?Instructions: Enter your response rounded to the nearest whole dollar and use a (-) if the number is negative.Economic profit: $ rev: 06_20_2019_QC_CS-171313
- Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building is $4,000, the cost of the two secretaries is $50,000, and the cost of electricity and gas comes to $5,000. There’s a great demand for his information, and his total revenue amounts to $100,000. By working in the firm, though, Economan forfeits the $55,000 he could earn by working for the Friendly Space Agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in this business.a. What is his profit or loss by an accountant’s definitions?Instructions: Enter your response rounded to the nearest whole dollar and use a (-) if the number is negative.Accounting profit: $ b. What is his profit or loss by an economist’s definitions?Instructions: Enter your response rounded to the nearest whole dollar and use a (-) if the number is negative.Economic profit: $Theo sells baby rattles at $3 per unit and each month he sells 3,000 units out of the back of his wagon in the city park. Theo has no employees and estimates he could rent his wagon to another entrepreneur for $2,000 eachmonth. He also knows that he could earn about $5,000 a month as a model. He pays $1 per unit for plastic, his only raw material. Question: Should Theo continue to sell his baby rattles in the park? ExplainSmiling Cow Dairy can sell all the milk it wants for$4 a gallon, and it can rent all the robots it wants tomilk the cows at a capital rental price of $100 a day.It faces the following production schedule:Number of Robots Total Product0 0 gallons1 502 853 1154 1405 1506 155a. In what kind of market structure does the firm sellits output? How can you tell?b. In what kind of market structure does the firmrent robots? How can you tell?c. Calculate the marginal product and the value ofthe marginal product of each additional robot.d. How many robots should the firm rent? Explain.
- HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?You own a printing firm. Two of yoursenior managers provide you with advice. Thefirst manager states that your company islosing money for every unit that is printed. Tominimize losses, she advises that you reduceyour production levels. The second managerstates that if your firm sells some more units,the price will cover your increase in costs. Inorder to reduce losses, the second managerrecommends that you should increaseproduction. Explain which manager iscorrect and who is offering the correctadvice?Subject: Menagerial economics & policy Mcq's 11) Marginal product is zero when a) TP is at the optimum point b) TP is maximum c) TP is zero d) None of the above 12) MR is less than AR when a) AR and MR are increasing b) MC falls c) AC falls d) AR falls 13) The TC curve and the TVC curve increase parallely due to a) TVC b) TFC c) TC d) None of the above 14) A petroleum industry is an example of a) monopoly b) Perfect Competition c) oligopoly d) monopolistic competition 15) Which of the following is an example of natural monopoly a) vegetable markets b) clothing retail shops c) natural gas d) None of the above
- Tim's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Tim's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Tim signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Tim's kitchen cannot fit more than two ovens, Tim cannot change the number of ovens he uses in his production of pizzas in the short run.Jonathan, Scott and Mitchell share a garage. All enjoy having the garage cleaned, regardless of who pays for cleaning. The graph below represents Jonathan, Scott and Mitchell’s individual demand for garage cleaning. The marginal cost of cleaning $3 per hour. The Lindahl prices for Jonathan, Scott and Mitchell are, respectively, $68/17, $17/17, and $4/85 per hour. $34/17, $17/17, and $0 per hour. None of these. $30/17, $15/17, $6/17 per hour. $0, $0, and $0 per hour.When a firm's average total cost is at its minimum, what type of efficiency is achieved?A. Allocative efficiencyB. Productive efficiencyC. Dynamic efficiencyD. Economic efficiency
