A: How can explain the micro economics in this advanced age? B: Define the term production?

Q: Briefly explain the concept of universal health coverage and the strategies employed in Caribbean co...

A: The basic provision of health care to all individuals and communities regardless of their financial ...

Q: Using the information in the following table on Mexico’s 1996 international transactions to answer t...

A: Balance of trade is defined as the difference between the value of exported and imported goods and s...

Q: 1)lf the price of a product increases by 10 % and demand decreases by 25%. It is the situation of: A...

A: GIVEN; Price of product increases by=10% demand decreases by=25% Price Elasticity of Demand = % Chan...

Q: Planning is said to be more than just the formulation of quantitative economic targets. It is often...

A: The process of thinking about the tasks that is necessary to attain a desired objective is known as ...

Q: Using appropriate graphs and mathematical expression, briefly discuss one macroeconomic view of heal...

A: Macroeconomics is the study of the behavior of a whole economy, such as a market or other large-scal...

Q: Briefly explain monopolistic competition and provide an example of this in a South African industry.

A: Markets refers to the arrangements under which buyers are sellers are able to strike a deal regardin...

Q: 1. Financial institutions in the U.S. economy Suppose Van would like to use $9,000 of his savings to...

A: In a market, a firm enters to make production and earn income from it. Production required capital a...

Q: ‘Utility services cost less even though they cost more’, elaborate this law with the help of suitabl...

A: Utility services are less expensive, despite the fact that they are more expensive. Consider a compa...

Q: In the world of economics, this is a very powerful term that can make or break relationships, busine...

A: There are different factors that can contribute to making or breaking relationships, businesses, fir...

Q: A(n) __________ is an organization owned by shareholders who have limited liability and limited cont...

A: The partners liability is limited and not arises of personal liability is the benefits of this limit...

Q: What is Ovako Working Postures Analysis System? Explain.

A: Although analysis as a formal idea is a new creation, it has been used in the study of mathematics a...

Q: the following Phillips n = En – 0.6(u – 0.05) ) Explain the above Philips Curve briefly. ) Assume th...

A:

Q: We plan to compare economically two design altérnatives (A añd B) Tor a heW Plde (the Scream Machine...

A: given that, Investments in machines A and B are $300000 and $450000 Annual revenue for machines A an...

Q: 3) A paper factory signed contract to produce 1000 reams of paper each week for a customer. The pape...

A: (a) Q = 4K0.75L0.25 Differentiate Q w.r.t L to get MPL => MPL = dQ / dL => MPL = 4 * 0.25 K0.7...

Q: A perfectly competitive firm's production function is Q=8LK where Q is the amount produced, L is the...

A: Marginal revenue product of labor measures the change in total revenue due to a change in labor by a...

Q: Q1. What is the significance of Balance of Payments and what are its components?

A: Balance of Payments can be defined as the accounting statement which provides the itemwise receipts ...

Q: Suppose that the world demand and supply elasticities of crude oil are -0.906 and 0.515, respectivel...

A: Solution:- 1)  If the demand curve is linear, it is in the form of QD = a + bP Also, we know that Ed...

Q: Assume that the most efficient production technology available for making vitamin pills has the cost...

A: "Average total cost (ATC) is the cost per unit of the output produced and this is computed by dividi...

Q: The city of Toledo is considering adding additional storm water storage facilities so that it will n...

A: Federal Grant = $1 Construction and maintenance costs =$7 Toledo residents' total willingness to pay...

Q: 1)lf the price of a product increases by 10 % and demand decreases by 25%. It is the situation of: A...

A:

Q: Find FV: You have $2,000 in a savings account that earns 1.5% interest per year. What will be the ba...

A: Future value is the value of an asset present at a future date based on an expected growth rate (FV)...

Q: Q1) A restaurant uses 3000 kg of meat each month.  The restaurant is replenishing the meat using an ...

A: Given: A restaurant uses = 3000 kg of meat each month The EOQ value of = 2000 kg The interest rate i...

Q: You are an employer seeking to fill a vacant position on an assembly line. Are you more concermed wi...

A: In the labor market, an employer needs to make decisions whether to employ one more unit of labor or...

Q: Which of the following variables falls when the national economy enters a recession? (choose all tha...

A: Recession: In the business cycle, recessions are a normal, albeit unpleasant, part. During a recessi...

Q: Assume that you are told a country's nominal GDP decreased from one year to the next. All of the fol...

A: Gross domestic product is the total production of goods and services that are produced within the gi...

Q: Suppose Van would like to use $9,000 of his savings to make a financial investment. One way of makin...

A: Answer: Suppose RoboTroid , a robotics firm , is selling bonds to raise money for a new lab, a pract...

Q: An annuity of P2,000 is to be paid in 4 years at the rate of 10% compounded continuously. What is th...

A: Present Worth of an annuity formula PW =PMT1-1(1+r)nr where PW is the present worthPMT is a continuo...

Q: An investor's utility function for the payoff of a project is U(x)-x0.4. The return of a project dep...

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Q: The chart below shows a real wage index in England between 1260 and 1800. Figure 2.16: Real wages pr...

A: The below  graph  shows real wage index in England between 1260 and 1800. The Black Death, a catast...

Q: Consider your textbook’s derivation of a DD curve from a simple short-run Keynesian model of the pro...

A: The DD curve in the simple Keynesian model represents the total demand curve for goods and services ...

Q: answer only question 3 pls

A: The long-run aggregate supply curve shows that the price level and total quantity of goods and servi...

Q: Teasha has worked in a gift store for the last two years and gained a lot of experience and knowledg...

A: Consider the scenario, to start a business of one's own an individual or an entrepreneur needs capit...

Q: What are the relationships between TP, MP and AP curves?

A: The additional quantity of output produced as a result of using more input is referred to as margina...

Q: 2. Given: Q 100K".“L08; w = 50; r = 80; Qo = 2,000 w a. Solve for the MRTSK and the market rate of e...

A: Answer is given below... 

Q: Explain the role that is played by the three decision makers in the economy

A: The firm, the household, and the government are the three basic economic units that carry out produc...

Q: 11. (Originally #7 on Homework #3) Consider a consumer with the following information: At the optima...

A: Consumer equilibrium is the equilibrium that is achieved where the budget line is equal to the margi...

Q: 15) For any cost function, you can find min ATC by etting ATC = and solving for q. %3D

A: Average total cost = total cost/ quantity

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A: Dubai's income comes fundamentally from oil yet just a moderate measure of oil saves were utilized t...

Q: The sales of a company rose from dollar 40,000 in March to dollar 48,000 in April 2002. company expr...

A:

Q: What is the future worth of P600 deposited at the end of every quarter for 4 years if the interest i...

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Q: terms of economics, what is the significance of the following quote? “On the next exam, I made the n...

A: This is the quote which is taken from the book "Misbehaving" by Richard Thaler. The idea of the abov...

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of...

A: Fixed cost is the cost of production that doesn't vary with the level of production and exits even w...

Q: George Michael sells frozen bananas to his uncles Buster and Gob, who are his only customers and who...

A: Demand function of Buster : D = 25 - 2p + m  Demand function of Gob : D = 15 - p + m  Market demand ...

Q: Question 1 The following information reveals the market condition of cola: Qd = 1,000 – 200P, where ...

A: Qd = 1000 - 200PQs = 100 +400P For calculating the equilibrium price and quantity of cola , we will ...

Q: Today, you invest P100,000 into a fund that pays 28% interest compounded annually. Three years later...

A: Compound interest formula : Final amount = Principal (1+interest rate/number of compounding periods)...

Q: True or false: A lump-sum tax on a monopolist will always increase the price charged by the monopoli...

A: If we assume that government impose 10% tax on the monopolists, then the fixed costs of the firm wil...

Q: Assume that 25 years ago your dad invested $300,000, plus $34,000 in years 2 through 5, and $49,000 ...

A: Given; Amount invested= $300000 Amount invested from 2 year to 5 years= $34000 Amount invested from ...

Q: Suppose an economy has an MPC = 0.875. 1. If government spending increase by $100, how much wi...

A: In economics, the marginal propensity to consume is a metric that quantifies induced consumption, th...

Q: What are the annual payments necessary to pay a $100,000, 12-year loan if the loan rate is 8 %

A: The loan rate is defined as the rate of interest at which the loan is paid to the bank. It means the...

Q: Refer to Figure 7-5. If the price of the good is $12, then consumer surplus is O a. $9. O b.SI1. OC ...

A: Consumer surplus is the area below the demand curve and above the price line.

Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.