a. With the aid of appropriate diagrams, evaluate and illustrate the conditions required for utility maximization.

Q: Answer the next question(s) on the basis of the following consolidated balance sheet for the…

A: Excess reserves refer to the bank-held funds that exceeds the minimum reserve requirement; and it…

Q: During year three, Pricilla starting collecting data on why people were buying dresses. She and the…

A: Wedding  Events Average Monthly Temperature  Year 3 Demand 2 1 32 212 0 0 30 245 0 5 42 252…

Q: 1 Monopoly is a market structure characterized by all the following features except A The firm is a…

A: In case of Monopoly there is a single seller who controls the entire market. There are strict…

Q: If the GDP price index is 150, real GDP is $10 trillion, and the quantity of money is $5 trillion,…

A: the velocity of circulation refers to the number of units of money circulating in the economy during…

Q: I have a doubt: does this decision that P < ATC only occurs in the long term? So, what the statement…

A: For shut down point, There are two terms :-  Average total cost:- It is the total cost per unit of…

Q: . Consider a marriage market with three men and three women, all of whom prefer any match to being…

A: A matching is said to be stable if (a) every individual gets an acceptable partner and (b) no woman…

Q: What will happen when variable costs rise in a perfectly competitive industry? Selected answer will…

A: Perfectly competitive market refers to the market where a firm is taker and price is determined by…

Q: QUESTION 12 Assume the following: • Marginal Cost = 10 • Average Total Cost = 12 What is happening…

A: Average Total Cost (AC): Average total cost is the ratio of total cost and units that that the firm…

Q: MU₁ MU2 P₁ P2 In words, please describe why this condition must be true. C. As we showed in class, a…

A: Profit maximisation may be the "goal," but how this aim is reached is what really matters and sets a…

Q: 3. There is a Competitive Industry '8= Each firm i's: Cast of Production C (8) = 10 + 10 g; ² Market…

A: Equilibrium is where demand equals supply.  At equilibrium the total surplus is maximum.  Profit is…

Q: Answer the next question(s) on the basis of the following consolidated balance sheet for the…

A: Given that,  The required reserve  ratio = 10% Excess reserves can be calculated as ,  Excess…

Q: Could you explain in economics concepts the situation in the image why there is incentives in the…

A: Anything that inspires someone to act is considered an incentive.Economic incentives are hence the…

Q: Carefully explain the impact on the money demand curve, money supply curve, equilibrium interest…

A: The demand for money explains why people want a specific sum of money. Mathematically, money demand…

Q: A carpenter hammers nails each day at work. During the first hour she can hammer 120 nails, the…

A: Marginal product of labor hour is the additional output produced by employing one more unit of the…

Q: In a world full of surpluses, hunger remains an urgent global problem. What is food security?

A: Poverty has been associated, for instance, with poor health, low levels of education or skills, an…

Q: A triple A battery manufacturer determines that at a price of K50 50 units of the triple A batteries…

A: Given information For triple-A battery When P=50--- Q=50 When P=60----Q=40 Fixed cost=300 Variable…

Q: Given the demand function D(p) = 375 – 3p², Find the Elasticity of Demand at a price of $1 At this…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: Exercise 4 Consider a monopolist operating a car park. Customers purchase monthly parking passes.…

A: a)  Inverse demand is given by 2p=520−Qorp=260−0.5Q   The total revenue function's derivative is…

Q: What will happen when variable costs rise in a perfectly competitive industry? Selected answer will…

A: Perfectly competitive market is characterized by the presence of the many firms and all firms are…

Q: In September the UK Government under the leadership of new Prime Minister Liz Truss announced a set…

A: Given,  In September the UK Government under the leadership of the new PM announced a set of…

Q: The kinked demand curve is a non-colluding oligopoly. Explain

A: An oligopoly refers to a form of a market characterized by a lesser number of firms who realize they…

Q: The marginal benefit to Lesley of staycations during the year at a hotel are given by the ollowing…

A: Marginal benefit is used to measure the maximum utility/ benefit a consumer enjoys from the…

Q: Annual maintenance cost for a machine is ₱25,000 for 6 years. Interest rate is 6%. If the…

A: Given  Annual maintenance (A1 )=25000 Rate of interest =6% The maintenance cost increase by 10% each…

Q: If the MPS in an economy is .4, government could shift the aggregate demand curve leftward by $50…

A: Aggregate demand consists of consumption spending , investment spending , government spending , and…

Q: A monopolist is selling a product with a linear demand curve that has a vertical intercept of p=10…

A: When there is just one vendor in the market, this situation is referred to as a monopoly. In…

Q: What is the accumulated amount of a 10-year annuity paying ₱ 10,000 at the end of each year, with…

A: Given  Annuity A=10,000 Time interval (n) =10 years  Rate of interest (i)=15% Required: Future value…

Q: Double counting can be avoided when computing GDP by

A: GDP stands for "Gross Domestic Product". GDP is the market value of goods and services produced in…

Q: calculate the inflation rate for 2012 and 2013.

A:

Q: Landia production possibilities: Fish Chips B с Fish 8 6 Chips 0 10 Scandia production…

A: Comparative advantage is the ability of the country or individual to produce the good at a lower…

Q: (c) Consider an oligopoly. Suppose that one of the firms has the option to move before its opponents…

A: Oligopoly is the market struture in which there are few large firms in the market. The presence of…

Q: 11. Refer to the diagram. The movement from point a to point c suggests that more: A) private goods…

A: Production possibility frontier curve: The production possibility frontier curve represents…

Q: The tax law has been used as a mechanism to: a. Stimulate the economy b. Show political favoritism…

A: A fee charged ("levied") by a government on a product, income, or activity. If tax is levied…

Q: Campus Bookstore is the only textbook supplier in the town, a profit-maximizing business. Customer…

A: A monopoly is a sole producer of a good in the market thus acting as a price maker whereas in a…

Q: Which of the following is not part of the M2 money supply? currency in circulation.   credit card…

A: M1 consists of checkable deposits , cash  and currency in circulation and travellers checks.  M2…

Q: the 50,000 from the depreciation formula, is it the annual profit or is it the salvage value

A: The monetary worth of an asset falls over time because of use, wear and tear or obsolescence. This…

Q: Suppose that a firm produces 450,000 units a year and sells them all for $20 each. The explicit…

A: Economic Profit = Total Revenue - Explicit cost - Implicit cost  Total Revenue = Price * Quantity

Q: Looking at the stock information in figure 2, what would you conclude about the South African Mobile…

A: Stock markets show ups and downs and stocks market are quite volatile in nature but overall market…

Q: What is poverty and why do we need to measure poverty in the country?

A: Since wealth and income are not distributed equally throughout the economy, inequality is an issue.…

Q: Choose... Choose... increase employment decrease wage rate shift outwards / to the right employment…

A: Labor  productivity is the term used for how much a labor produces a good or service in a given…

Q: 17. Which of the following two factors helped growth in FDI in developing countries a.…

A: Foreign direct investment (FDI) is a part of capital investment in foreign nations. Any country,…

Q: Interest rate 2% 4 6 8 10 Transaction demand for money $220 220 220 220 220 Asset demand B)…

A: Demand curve is the graphical representation of demand schedule.    Demand schedule shows the…

Q: We are given the following information for UWI Land. At the start of the period, there are 334,250…

A: Given, Number of Employed = 334,250 Number of Unemployed = 15,750 Not in Labor Force = 150,000…

Q: 1. Please explain why the marginal revenue curve for a perfectly competitive firm is horizontal.

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

Q: ● Calculate the CPI for 2012 (using 1 decimal place). Calculate the CPI for 2013 (using 1 decimal…

A: Formula: Current year price * current year quantity  2011: (using 2011 price and 2011 quantity)…

Q: We are given the following information for UWI Land. At the start of the period, there are 334,250…

A: unemployment refers to a state in which an individual actively looking for employment but is not…

Q: 1. A machine has been purchased and installed at a total cost P18,000.00. The machine will be…

A: The expansion of wealth via investments or earnings is known as capital accumulation. Appreciation,…

Q: 1990s and early 2000s saw a crisis for sugarcane producers. During this period, the quantity…

A: Revenue refers to the amount which the producer receives after involving in the exchange of their…

Q: How is it possible for labor productivity to increase if output is falling?

A: Labor productivity means that output is produced by labor within the stipulated time in a country's…

Q: 1 23 3 4 567800 A Capital (K) 1 1 1 1 1 1 1 1 1 1 Labor (L) 1 2 3 4 5 6 7 8 Total Product (TP) 10 9…

A: Production refers to the process of transforming raw materials or inputs into final products. Inputs…

Q: 32. The diagram below represents a profit maximizing monopolist. What does the * shaded area…

A: Average cost is the Total cost divided by quantity.  For a monopoly ,  Profit is maximum where MR =…