A perfectly elastic demand implies that Select one: a. quantity demanded and price change by the same percent as we move along the demand curve. b. buyers will not respond to any change in price. c. price will rise by an infinite amount when there is a change in quantity demanded. d. any rise in price above that represented by the demand curve will result in a quantity demanded of zero.

Q: Suppose that the economy is characterized by the following behavioral equations: C = 150 + 0.6YD | =…

A: Aggregate expenditure is the sum of consumption, investment and government spending in a closed…

Q: Why do we not rely on competitive markets to supply us with the "correct" quantity of money?

A: As pressure of rival companies pushes firms to accept the market's existing equilibrium price, a…

Q: 3. The neoclassical theory of the firm suggests that firms produce outputs by combining inputs that…

A: The Coase Theorem is the legal and economic concept on property rights proposed by economist Ronald…

Q: Define Asian Regionalism and,Globalization of Religion.

A: In general, regionalism is a phenomenon in international commerce in which states form organisations…

Q: Suppose that the current real federal funds rate in the economy is 2.0%, the current inflation rate…

A: According to the Taylor Rule, the FF Target = Real FF Rate + Inflation Rate + 0.5(Inflation Gap) +…

Q: It is defined a condition where the total revenue is equal to the total cost, and an increase in…

A: Total cost is the total amount spent by a company on its production elements. Total revenue is a…

Q: Butore staring in Guardans of the Galary, Chris Prat had appeared in 11 movies that grossed an…

A: Opportunity cost is the next best alternative forgone for selecting the current alternative. As…

Q: Economics Why should heterodoxy be better than orthodoxy to fight inflation from the point of view…

A: Heterodoxy can be considered as an empirically based concept while orthodoxy based on hypothetical…

Q: 3 and 4

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: How does the "Digital Economy: New Actors and New Decision-Making Logic" aid in the decision-making…

A: The digital economy is just the outcome of billions of daily online connections between individuals,…

Q: Hyperinflation is extremely rare in countries where the Central Bank is independent of the rest of…

A: The answer is as follows:-

Q: What is monopolistic competition? 30 words

A: Monopolistic competition is a mixture of perfect competition and monopoly.

Q: In the United States, most hospitals are non-profit, while nearly all pharmaceutical companies are…

A: There are many reasons that most of the hospitals in the United States are non-profit, one reason…

Q: Given that fixed cost 330 and varioble cost+120: the totol varioble cost of producing 30 unts of…

A: Total cost is the sum of fixed cost and variable cost

Q: Factors of production are normative are studied primarily in represent the classification of…

A: Factors of production are the economic resources that are used to produce goods and services in an…

Q: B. Determine the inflation rate of Country ABC using its CPI from 2020 and 2021. Price Price 2021…

A:

Q: O Find moon, nodion and mode ot the distaibution O Dotonnine the tinst quardile and 894h Poncontile

A: Find mean, median and mode of the distribution. Mean= For mean we shall calculate the mid point of…

Q: Some economists argue that minimum wage policy does not always lead to the unemployment consequences…

A: A minimum wage law refers to a law that decides the minimum wage rate that an employer should pay to…

Q: 1. A study indicated that the optimal price for a consumer product is $32.45. Most products in the…

A: The markets are the place where the buyers and the sellers of various goods, services and other…

Q: Define price ceiling and price floor, and give an example of each. Which leads to a shortage? Which…

A: Price controls are the government-controlled price mechanisms. The extreme and the least prices will…

Q: Graham worked as a real estate agent for Piedmont Properties for 15 years.  Her annual income is…

A: All part solved below,

Q: the college of science surveys its graduating students to determine the starting salaries and the…

A: Given, n=100 courses Number of students BS-Biology 85 BSM-CS 102 BSM-BA 78 BSM-AS 75…

Q: The average propensity to save is 0.39 Calculate saving if income is $650

A: Average propensity to save is the ratio of saving and income level . And we know that income is used…

Q: Reducing mortality from one disease necessarily increases the sum of the total mortality risk from…

A: Reducing mortality from one disease necessarily increases the sum of the total mortality risk from…

Q: Which of the following statements is (are) correct? (x) If marginal cost is less than average total…

A: Average total cost refers to total cost per unit of output. Average total cost is the sum of average…

Q: The total cost of a milling machine is P865821 including taxes and it can last up to 8 years. What…

A: The sum of years' digits technique is a type of accelerated depreciation that is based on the notion…

Q: Consider the monopoly platform model we studied in the lecture where both sides exert positive…

A: A single product is sold by a single vendor in a single-vendor market. In a monopoly market, the…

Q: QUESTION 3 Directions: Use the given scenarios and the information you have learned about Fiscal and…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: 1. Suppose the economy's production function is Y = AKO.3N0.7. If K = 2000, N = 100, and A = 1, then…

A: Given the production function, Y = AK0.3N0.7K = 2000N = 100A = 1

Q: B. Determine the inflation rate of Country ABC using its CPI from 2020 and 2021. Price Price Price…

A:

Q: Similarities of the effects of the Spanish Flu and the Ukraine-Russia War on the economies of…

A: Similarities The Spanish flue expanded in 3 phases: the first one in the springtime of 1918, the…

Q: What is monopolistic competition? 30 words

A: Monopolistic competition is a mixture of perfect competition and monopoly.

Q: A firm is planning to manufacture a new product. As the selling price is increased, the quantity…

A: P=$350-0.20 where P-selling price per unit; Q-quantity sold per year. They estimate C= $40Q+$20,000…

Q: Suppose the government forces the price to be above the equilibrium.  Is this called a price floor…

A: Price control refers to the form of government interference in the free market to influence the…

Q: According to the table below, Change in Value (%), 1991–2001 Asset Stocks +250% Diamonds +71

A: Given information The change in value of gold between 1991 to 2001 is -29% The change in average…

Q: A. (CHAPTER 6) Suppose there are two islands. The total population on the two islands is 800 people.…

A: Introduction Suppose there are two island. The total population on two island is 800 people. a)…

Q: If you deposit 500 pesos at the end of each year for 3 years into an annuity that pays 5% annual…

A: An annuity is a one-time payment that will be made to you every year for the rest of your life.…

Q: in monopoly, market power permits you to price above MC. What limits how high a price you can set?…

A: In monopolistic market there is a single firm selling unique good.

Q: A company owns an asset that is worth $245,000 and there is a 6% chance that it will lose $185,000…

A: In economics, utility means pleasure or satisfaction that customers get from using a product or…

Q: Describe and contrast market economies, planned economies and mixed economies.

A: Market economy :- A market economy is a type of economy in which the decisions regarding investment,…

Q: Given the following demand and cost functions: Demand: p = 3000 - 2x Cost: C = 1200x + 2600 Find the…

A: Profit is the difference between revenue and cost.  Revenue is the price multiply quantity…

Q: Assume that a firm emits 1000 units of a pollutant. Suppose that the emissions are regulated by a…

A: Answer -

Q: If climate change impacts​ (e.g., increased heat​ waves, droughts,​ wildfires, etc.) decrease the​…

A: The Solow model is an economic growth model that examines the change in the output level in an…

Q: A donor made the following donations during 2018:To Abel, a car worth 800,000To Jen, a condominium…

A: A donor made the following donations during 2018:To Abel, a car worth 800,000To Jen, a condominium…

Q: (Use Table 1) What is the services trade balance? Table 1 Imports in services: Exports in goods:…

A: Only transactions linked to the import and export of commodities are included in the service trade…

Q: 2- Consider the following game. Player 2 LR Player 1 U 12, 2 3,9 | D 5, 8 4, 2 (a) Find all the Nash…

A: Nash equilibrium is an idea inside game theory where the ideal result of a game is in the same…

Q: 12. Eurobanking have grown rapidly because of lack of regulation and con- sequent opportunity for…

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

Q: Over the last two years, the unemployment rate in Westerlight has risen from 4% to 8%, while GDP…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: How will an increase in offshoring affect the demand for skilled labor and the wages ofskilled labor…

A: Offshoring refers to when the business relocated its supply chain, operations, or production from…

Q: 2. Find the Optimal solution using UV/MOID method for the following problem Supply 1 18 14 Demand 8…

A: Introduction Here initial basic feasible solution = multiply the rows and column which have given…