A. Draw a potential income constraint such that if T = 5, this person will not participate in the labour force. B. Draw a potential income constraint such that this person's full income is $9 and maximum utility is 10. This person will choose 1 hours of leisure. C. Draw a potential income constraint such that this person will choose to work 3 hours out of a maximum possible 8. In this case the person's full income is $9 and the wage rate is $3 . This person achieves utility equal to 20 , and their MRS at the optimal combination is 1

Q: Let’s assume that in California a corporation that produces electricity controls the market where…

A: Here, it is given that the a corporation in California is the only supplier of electricity due to…

Q: A production function for a good Q uses inputs of labor (L) and capital (K) and takes the form Q=LK.…

A: Cost  The number of goods and services necessary to produce or manufacture is referred to as the…

Q: Consider a simple economy that produces two goods: pens and erasers. The following table shows the…

A: Nominal GDP = Price of pens * Quantity of pens + Price of erasers * Quantity of erasers Real GDP =…

Q: An insured becomes disabled on March 1 and submits a claim statement to the insurance company on…

A: In the given scenario, insured becomes disabled on March 1 but he submitted claim on March 31. This…

Q: A firm in a perfectly competitive market has a short-run total cost function equal to SRTC=4+20q,…

A: Perfect competition is a type of market where the price and quantity of goods sold is determined by…

Q: Consumer satisfaction from consuming goods X and Y is as follows: U=10X+14Y-X2-Y2 and consumer…

A: Consumer equilibrium is the situation where he gets maximum satisfaction level of utility with given…

Q: Question 26 Consider a closed economy. A decrease in the price of goods that firms produce and an…

A: In the closed economy, any change in consumption and investment will lead to affect the market…

Q: Explanation it correctly Q)Is nutella positive externalities or negative?

A: An externality is a cost or benefit incurred or received by a producer that is not incurred or…

Q: The engineering team at Manuel's Manufacturing, Inc., is planning to purchase an enterprise resource…

A: The present worth method is an equivalence method that reduces a project's cash flows to a single…

Q: Informed trading...   a. Aims to profit from differences between the market prices and fundamental…

A: Trading is done by the people through stock markets. In stock markets, people buys and sell their…

Q: Consider the preferences represented by the following indifference curves. These preferences are…

A: An indifference curve usually connects points on a graph that represent various amounts of two…

Q: The present worth of an arithmetic gradient will always be located: Select one: O a. the same period…

A: When making financial analysis, different types of analytical tools are used based on the…

Q: The following are fundamental reasons for economic growth displayed using the multiperson PPF…

A: The Production possibility Frontier (PPF Curve) is the graphical presentation of various different…

Q: Consider an AD-AS model with AD curve Y - Y* = -ay(π − π*) + €d and AS curve π = π² + OB(Y - Y*) +…

A: Aggregate supply refers to the cumulative quantity of a firm's production and selling, or the real…

Q: satisfaction that we get from the consumption of goods and services is called utility. Use a utility…

A: Utility graph shows the total utility with the consumption of the units consumed.

Q: Which of these is the rate at which sales opportunities are closed, as expressed by a percentage?…

A: There are many types of financial ratios which help us understand different things.

Q: Gal 1 2 3 0.1 04 0.3 should the shop expect per hour? pect 2.6 calls per hour. a decimal. Do not…

A: Given, Repair call (x) probability 1 0.1 2 0.4 3 0.3 4 0.2

Q: Supply of Money Suppose the monetary base is GHS 800 billion, the current reserve-deposit ratio is…

A: a cash multiplier is one of different firmly related proportions of business bank cash to national…

Q: Suppose you are the managing director of a firm that produces two goods: A and B. The price…

A: Elasticity could be a general measure of the responsiveness of an economic variable in response to a…

Q: Economists have argued that betting on which foreign leaders will be assassinated or overthrown, or…

A: An economist is a person who works in one of the numerous branches of economics or has a degree in…

Q: Q4. The Bank can influence interest rates and the money supply through the following means: The…

A: a) Target overnight rate:-  Overnight loans was created to assist banking institutions in obtaining…

Q: A payment of $13,000 is due in 1 year and $10,000 is due in 2 years. What two equal payments, one in…

A: Using the end of 4 years as a focal date means values of all the cash flows should be calculated for…

Q: SABIC Company (A Petrochemical Company) plans to buy A General Electric (GE) Plastic Plant in five…

A: Given  Future Value (FV) = $100 million                                  = 100 × 106…

Q: The Clark-Fisher model explains the significant shift within the economy over time by emphasizing:…

A: The Clark Fisher Model demonstrates how the importance of various sectors varies across countries,…

Q: A6. Which of the following provisions can an insured use lo pul a policy in force that has lapsed…

A: Insurance: - it is an agreement between the policyholder and the insurer to pay a certain sum of…

Q: 4 Which of the following is part of M2?   a. Small time deposits   b. Money market mutual funds…

A: M2:-  M2 can be explained a supply of money statistic that comprises currency, checking deposits,…

Q: A maintenance contract is $5,000 per year for 10 years. Assuming 9% annual interest, calculate the…

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

Q: For example, a 12 oz cup of Coke is $1, and a 32 oz cup is $1.70. What explains this marketing…

A: To induce buyers to buy in larger quantities, sellers frequently offer a bulk discount. The merchant…

Q: A firm uses labor (L) and capital (K) to produce rocking chairs (Q) with the following production…

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: Use the orange points (square symbol) to plot the initial short-run industry supply curve when there…

A: Price Quantity 20 firms 30 firms 40 firms 10 10 200 300 400 15 15 300 450 600 30 20 400 600…

Q: If C = 5 + 0.6Y, I = 4 – 0.2 r, G = 5, T = 6, X = 10 dan M = 10 + 0.3 Y, Ms = 20, Mdt = 0.1 Y and…

A: Given; Consumption Function; C= 5+0.6YInvestment function; I=4-0.2rGovernment expenditure; G=5Taxes;…

Q: Economics There are the following types of prices depending on the method of fixing of the price…

A: An organisation can choose from several pricing methods. Prices are determined by three factors:…

Q: Multiple Choice Identify the choice that best completes the statement or answers the question. 1. A…

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

Q: The demand for cameras in a certain country is given by D=8000−30P, where P is the price of a…

A: The equilibrium is established where the demand and supply are equal.

Q: The act that requires those who give credit to reveal all the terms and conditions of their credit…

A: Federal government has made several rules and acts to protect the interest of consumers. The…

Q: Some people claim that degrees in liberal arts do not really train students for the job market.…

A: When talking about the degrees in liberal arts, it is given that these degrees do not add the…

Q: A competitive firm has a technology function defined as Q = f(K,L) = K^2+ KL. Here, Q is the weekly…

A: Production function : Q = K2 + KL  Price of output = 6  Wage rate (w)= 54  Capital Cost(r) = 25…

Q: With three economies, each of which has a GDP per capita of $100. Trend growth in these economies is…

A: GDP per capita is measured as the ratio of total gdp and population . it shows how a person earn…

Q: Use the estimated demand function to calculate the expected value of QY in a typical market.…

A:

Q: The Federal Reserve determines that the equilibrium level of output is above full employment and the…

A: Federal reserve is the central bank who regulates the supply of money in the economy.

Q: If computers are like most goods and the price of computers chips fall, then holding all else…

A: Answer: A decrease in the cost of inputs leads to an increase in the supply of a good. As a result,…

Q: a practice test of something new or unknown to discover its -- effectiveness tried and tested back…

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

Q: Determine how the following events Will currency (such as the Philippine peso) in relation to a…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Suppose in Year 1 a country has an inflation rate of 10% and in Year 2 the country has an inflation…

A: Disclaimer :- Since you asked multiple question we are solving the first 1 only as per the…

Q: 5. Suppose there is a Chinese firm that could produce a "widget" at a cost of 9qw, where qw is the…

A: In the monopoly market, there is a single seller of the good. The good that the monopolist sells has…

Q: Income before tax (dollars) 0 20,000 40,000 60,000 80,000 Tax plan A (dollars) 0 2,000 5,000 10,000…

A: In a progressive tax structure is a tax structure in which the tax burden increases as taxable…

Q: You receive a loan from a bank on March 12, 2013 and you are required to pay P586,875 on August 16,…

A: Answer to the question is:

Q: r. John Do borrowed P 1,000 and was able to sign a promissory note that he would pay P 2,032.79…

A: When the effects of compounding over time are taken into account, an effective annual interest rate…

Q: Consider the market for gasoline. You expect prices of gasoline to decrease next month. What happens…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: 23, Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards.…

A: Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards. He…