Agatha has $825 to spend on tickets for her trip. She intends to spend the entire amount and prefers traveling first class to traveling second class. Agatha needs to travel a total of 1500 miles. Suppose that the price of first-class tickets is $0.60 per mile and the price of second-class tickets is $0.30 per mile. How many miles will she travel by second class?

Q: Asap In the case of a binding price ceiling, the price paid in the market will be: more…

A: A price ceiling refers to an imposed breaking point on the price charged for a product. Governments…

Q: Income inequalities tend to be larger in poorer countries. As countries develop, the personal…

A: Income alludes to the money or monetary benefits that an individual, business, or entity gets over a…

Q: Use the following table to answer the question below. Jane's Production Possibilities Schedule…

A: The given data shows the production schedule for Green beans and corn. Pounds of green beansPounds…

Q: If the demand and supply functions are given by: Demand: 6Qd=240-12 P Supply: 10Qs = 100+ 40 P…

A: The demand curve is the downward-sloping curve.The supply curve is the upward-sloping curve.The…

Q: Imagine you have R1,000 in cash, and you deposit this money into a savings account at a bank. What…

A: Money is something or any commodity that is widely accepted by general public in medium of exchange.…

Q: Economists define investment to include: Select one: O any increase in business…

A: Investment, in economics and finance basically refers to the allocation of money or resources to…

Q: The figure below shows the Stackelberg model of a duopoly. Both firms face constant marginal costs…

A: Duopoly as the name suggests is the market structure with a duo of sellers and plenty of consumers.…

Q: B. In 1651 the British established a colony in present day Suriname. In 1667, the British and the…

A: Economic analysis is the methodical way to deal with determining the optimum utilization of scarce…

Q: In March 2023, imports for the US exceeded their exports by $60.6 billion. In June 2023, the…

A: The question is asking about the potential long-term impact on the US if the trend of imports…

Q: please answer and show work for d)

A: A company can sell  of a certain model of digit camera at a price of p dollers each.The amount of…

Q: The MR curve of a perfectly competitive firm is [(Click to select) 7 and the MR curve of a monopoly…

A: Unregulated market are administered by the overarching contracts between the taking an interest…

Q: An integrated, combined cycle power plant produces 280 MW of electricity by gasifying coal. The…

A: Simple payback period refers to the amount of time it takes to recover the cost of an investment. In…

Q: Define al competitive equilibrium for this economy.

A: When an economy's labor and capital markets, as well as its supply and demand markets, are in…

Q: Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $3…

A: A monetary base refers to the value of a currency in the circulation or in the commercial bank…

Q: Suppose that a firm produces baseball bats in a monopolistically competitive market. The following…

A: A  market in which they do not have perfect substitutes for one another and have multiple similar…

Q: "Australia has aimed to achieve full employment by implementing various employment and labor market…

A: Unemployment refers to the situation where individuals who are willing and able to work are unable…

Q: The figure below shows the demand and supply curves for pickup trucks and the world price of a…

A: An import tariff can be defined as an imposition of tax on imported goods and services. The main…

Q: A reduction in the tax rates may not stimulate the economy if: A. The tax cut is temporary and does…

A: Disosable income refers to the amount of income people have remaining after payment of taxes. A…

Q: Assume that health insurance is private in a country, and the market for insurance is competitive.…

A: The market equilibrium quantity is where the private marginal benefit curve intersects the private…

Q: kindly explain Which of the following is a common characteristic of a country in Africa?A. High…

A: The question is asking to identify a common characteristic of a country in Africa from the given…

Q: Trade topic: How does trade effect jobs, wages and working conditions?

A: Trade, the exchange of goods and services between countries, has a complex and multifaceted impact…

Q: Draw and describe a diagram representing the cost curves – MC, AC, and AVC – for a profit-maximizing…

A: This can be described as a form of market in which no single producer or consumer has the power to…

Q: Use the following Table showing the demand schedule for a monopolist facing a constant marginal cost…

A: In a monopoly market structure,  There exists a single seller. There exists high barriers to entry…

Q: Barrels of Oil Marginal Marginal Produced Revenue Cost 0 1 2 3 4 5 6 7 8 9 10 Consider the table…

A: The study and analysis of commercial issues impacting businesses using abstract economic concepts…

Q: assist please Which of the following statements best exemplifies the concept of relative advantage…

A: The objective of the question is to identify which statement best represents the concept of relative…

Q: During January, the company's employees earned wages of $72,000. Withholdings related to these wages…

A: The topic of economics that is discussed in the question about the journal entries to record wages…

Q: Price Level P₁ AD AS₁ AD₁ 1 Price Level P2 AS₂ 0 a AS₁ AD1 Price Level P₁ AS₁ 0 AD AS₂ 0 Q₂ Q₁ Q₂ Q₁…

A: Inflation measures the increase in the general price level in the economy. Cost-push inflation…

Q: What happens to poverty and inequality if income rises for both low-income and high-income workers,…

A: The question is asking about the impact on poverty and inequality when both low-income and…

Q: Use the following information to answer the question. You are managing a competitive co farm that…

A: There is a competitive market for corn. The price for corn either be $12 or $6 per bushel. The…

Q: Three neighboring towns – Marshland, Dampland, and Wetland – all border the           same lake.…

A: Marginal benefit refers to the additional benefit consumers receive from the additional consumption…

Q: marginal opose that a firm produces wool jackets in a monopolistically competitive market. The…

A: Average total cost refers to the per unit cost of the product.

Q: How quickly does GDP need to grow in order to provide for population growth?

A: Gross Domestic Product (GDP) is a comprehensive measure used to gauge the total economic output of a…

Q: Goods 1 and 2 are perfect complements, and a consumer always consumes them in the ratio of 2 units…

A: Perfect complements are a pair of goods or services that are typically consumed together in fixed…

Q: Show using a graph how the following shocks would affect equilibrium output. (Which parameters in…

A: Equilibrium occurs when aggregate demand and aggregate supply are equal. The aggregate demand shock…

Q: draw an S&D graph with a price floor ▪ identify Qp, Qe, Qs, Qd, and the floor price ■ label axes Al

A: A price floor is a government-imposed minimum price that is set over the equilibrium market price…

Q: Q1) A new highway is being evaluated at an interest rate of i= 5.5%. Use capitalized cost to…

A: This can be defined as the tool that is used by the individual, business, or any other organisation…

Q: How much would price change if two firms with identical total cost functions TC = 80Qi move from…

A: In Cournot duopoly, two firms compete in a market by simultaneously choosing the quantity of goods…

Q: In this market, the equilibrium price is   per box, and the equilibrium quantity of blueberries is…

A: In general, the price ceiling is considered the maximum price that consumers must pay and producers…

Q: The table below gives the cost of production for a typical firm in a perfectly competitive industry.…

A: In perfect competition, There exists a large number of buyers and sellers. The firm will produce…

Q: Florida has decided to eliminate occupational licensing requirements for lawyers, so you don't have…

A: Demand refers to the quantity of goods or services that a consumer is willing and able to buy at a…

Q: Instructions: Round your answers to two decimal places. a. Draw the marginal social cost of steel on…

A: Externality refers to the economic situation in which the economic activity of the producer or…

Q: Blue Skies Aviation is a manufacturer of small single-engine airplanes. The company is relatively…

A: Marginal cost represents the incremental costs incurred when producing additional units of a good or…

Q: 11) As of December 2019, banks subject to reserve requirements set by the Federal Reserve System…

A: The question relates to the administrative structure including reserve prerequisites set by the…

Q: Price $6.00 $8.00 $10.0 $4.00 $20 18 16- 14 12 10- 8 6- 4- 2 0 10 20 30 40 50 60 70 80 90 Dafter Tax…

A: The demand curve is the downward sloping curve. Supply curve is the upward sloping curve.…

Q: 4. A different economy can be modeled with these équations: C = 150+ b Yd₁ F = 260, 16 = 20₁ |X= 280…

A: C=150+b*YdIn consumption function, b is marginal propensity to consume (MPC).MPC tells how much…

Q: As shown in Exhibit 12-7, a family of four with no earned income receives O a. the break-even income…

A: A negative income tax is a system in which people who earn below a certain level of income get cash…

Q: If you add average variable costs and average fixed costs, you get average total costs. True False

A: Cost is the amount of expenditure incurred on goods or services. It is incurred for the hiring of…

Q: A firm pays $5,000,000 to purchase a factory which it uses to produce a good. In equilibrium, the…

A: Producer surplus is the monetary gain that producers or firms receive when they sell their products…

Q: The graph displays the marginal cost and marginal revenue curves for a perfectly competitive firm. X…

A: Marginal revenue refers to the additional revenue earned by selling one additional product. In a…

Q: Income from recycling the paper and cardboard generated in an office building has averaged $3900 per…

A: The effective interest rate is the actual interest rate paid or earned on a financial investment or…