An economist estimated the cross-price elasticity for peanut butter and jelly to be 1.5 . Based on this information , we know the goods are * a. inferior goods b. complements c. inelastic d. substitutes

Q: 10. Mobility of labour A. Increases efficiency of labour B. O Spoils labour C. O Increases division ...

A: Government gets certain tax revenue with them through which they have to carry expenditure on econom...

Q: Illustrate the market demand and market supply curves.

A: Many individuals purchase a particular good. Market demand curve for a good is the addition of the i...

Q: If the price level increases in the economy, A) The total spending in the economy will fall. B)The ...

A: When the price level increases in an economy then it implies a fall in the purchasing power. Goods a...

Q: Select an industry that belongs to any one of the four market structures – perfect competition, mono...

A: The fuel industry has the market structure of an oligopoly.  There are a couple of predominant firms...

Q: You are the manager of the only firm worldwide that specializes in exporting fish products to Japan....

A: The formula to compute the mean of uniform distribution is: Mean=Minimum value+Maximum value2 Here, ...

Q: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor productivi...

A: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor productivi...

Q: Suppose you go to a doctor, but your health insurance plan reimburses you for only 80 percent of the...

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

Q: All of the following will cause unemployment except:    a.government policies b.stable prices c.qual...

A: Unemployment:- Unemployment refers to people who are qualified for a job and searching for a job and...

Q: Devlin is a computer programmer who earned $30,000 in 2011. But on January 1, 2012 he opened a custo...

A: * SOLUTION :-  Based on the given information the answer is  (a) the Devlin's opportunity cost is = ...

Q: Find the point (x,y) that solves the following problem: 1 1 u(х, у) — — In x +-In y s.t. PxX + руҮ —...

A: Given; Utility function; u(x,y)=12In x+13In y Pxx+PYy=m MUx=12×1x       =12x MUy=13×1y       =13y  

Q: $10 Tatal $25 24 21 16 • I2J 4 $678 10 Ouantity Please, select the three (3) right answers: O At eac...

A: Law of demand states that there exists inverse relationship between price and quantity demanded, kee...

Q: Jan wealth W = 100, has a utility function with respect to wealth of U = .5W^(2) , and faces a gambl...

A: Given: U=0.5W^(2)

Q: 13. Unemployment due to mechanization of agriculture is

A: To find : What is unemployment due to mechanization of agriculture 

Q: Refer to the two tables below, which show, respectively, the willingness to pay and the willingness ...

A: we know that equilibrium price is obtained when the supply of goods is equal to demand.

Q: The regulatory agency responsible for regulating the activities of life insurance companies is   Qu...

A: In the United States, different authorised are formed to deal with different financial issues like F...

Q: method when the price of the pizza falls from $ 10 to $9, what is the percentage change in price?

A: To find : What is the percentage change in price. 

Q: Suppose, that the demand for watches decreases and shifts the demand curve due to the invention of t...

A: Consider the below points: *Due to price, there will be movement along the curve. *Due to other fact...

Q: Quantity Total Revenue Marginal Cost $0 1 $10 $2 2 $20 $4 3 $30 $6 $40 $8 5 $50 $12 $60 $14 7 $70 $1...

A: In the question above, it is given a table with Quantity, Total revenue and Marginal Cost.  Fixed C...

Q: Consider the model of Bertrand competition with linear demand Q(p) = max[0, a – p) and with two- %3D...

A: GIVEN    linear demand with a = 8, and constant cost c = 3 per unit, suppose Firm 1 chooses price p1...

Q: When the law of diminishing returns takes effect   a. a firm must always try to add the same amou...

A: The Law of diminishing returns is a short-run concept.  It states that in the short run, when one fa...

Q: Consider the market supply of donuts. Complete the following table by indicating whether an event wi...

A: Supply curve shows a positive relationship between price and quantity demanded. It slopes upward.

Q: Why has the government pumped billions into bank bailouts to prevent them from collapsing?

A: Bank bailouts refer to a situation when government or corporation injects funds into a bank that is ...

Q: The produclion funclion for a frm ie pix, y)- B6x"y". tere x and y are the number of unis of labor a...

A: Given  Production function: p(x,y)=96x3/4y1/4              ... (1) Cost of labor (w)=$144 per unit C...

Q: 12. To prevent adverse selection, health and life insurance companies   Question 12 options:   a)...

A: Adverse selection in the insurance industry is defined as a situation in which insurance coverage is...

Q: Paul consumes only books and DVDS. At his current consumption bundle, his marginal utility from DVDS...

A: Answer: Given, Marginal utility of book MUB=2Marginal utility of DVD MUD=13PB=$1PD=$12 The equilibri...

Q: True of False? Most economists support protectionism against international trade in cases where dome...

A: Protectionism refers to the policy adopted by the government to protect domestic industries and firm...

Q: What are the possibilities that cause a change in the unemployment rate according to this table?   ...

A: Answer: Unemployment rate: unemployment rate refers to the fraction of the labor force that is unemp...

Q: How much money would you pay in interest if you borrowed $18,000 for one year at simple 20% per year...

A: P = 18,000 r = 0.2 t = 1 Therefore, A = P(1 + rt) A = 18000 [1 + (0.2 x 1)] A = 18000 [1 + 0.2] A = ...

Q: Outut In 6-2 we studied how unantioipated infation might affect the soply of goods and services in t...

A: The answer is - Option 3. Unexpected changes in price level will have a some effect on output.

Q: 1) The local breakfast restaurant has a new offer: those who buy more than 10 sandwiches a month get...

A: Given information Offer by local breakfast restaurant=50% on an additional sandwiches after 10 units...

Q: Investment can be increased both by reducing taxes on private saving and by reducing the government ...

A: Investment can be increased both by reducing taxes on private savings and by reducing the government...

Q: If the inflation rate is 3% per year, how many years will it take for the cost of an item to double,...

A: Given:Inflation Rate=3% per year

Q: 10. Applying the rule of 78s to determine prepayment penalties Most installment loan contracts that ...

A: * SOLUTION :-    (10) Based on the given information the calculations are shown below.  

Q: A group of 10 people have the following annual incomes: $24, 000, $18, 000, $50, 000, $100, 000, $12...

A: Solution: Writing the given incomes in increasing order. First quintile 10000 12000 Second quin...

Q: Use the graph below to answer the following question. 10 8 Long Run Average Total Costs

A: Economies of scale (or increasing return) occur when LRAC decreases as output increases. This happen...

Q: 3. Consider the utility function given by u (x1, x2) x1x2, and budget constraint given by P1x1 + P22...

A: As you have posted multi-subparts question, as per answering guidelines we are supposed to solve onl...

Q: . At the point of equilibrium of firm (under perfect competition)

A: To find : What happens at point of equilibrium of firm. 

Q: 19... Acquiring information on a bank's activities in order to determine a bank's risk is difficult...

A: Acquiring information on a bank's activities in order to determine a bank's risk is difficult for de...

Q: What is general government final consumption reflecting in terms of GDP of a country? What it indica...

A: Below is the formula for GDP: GDP = C + I  + G + NXC =ConsumptionG = Government expenditureNX = Net ...

Q: A bank is insolvent when   Question 24 options:   a)  its liabilities exceed its assets.   b)  ...

A: Answer: (a) Its liabilities exceed its assets.

Q: Suppose Yvette just sat down to enjoy the Double Stack burger that she purchased for $1.00. Her frie...

A: * SOLUTION :-    Based on the given information the answer is provided below.  

Q: True or False 1. The breakeven point always maximizes the profit.  2. Selecting the best alternati...

A: The Break even point is the point where the Contribution Margin is equal to the fixed expenses or we...

Q: Derive the following: (i) (ii) (iii) (iv) (v) National Income Net Investment Personal Income Disposa...

A: As per the guidelines solution is provided to the first 3 sub-parts: (i) National income = GDP at ma...

Q: Imagine you are the mayor of a town and you are trying to decide if you should pay for a fireworks s...

A: Answer:- (d) The town's citizens were free-riders.

Q: If the percent rise in price is larger than the percent decline in quantity, then: the demand for yo...

A: The price elasticity of demand measures how a change in the price of a product affects the demand fo...

Q: Assume the wages of carpenters increases. Describe what will happen to the supply of houses

A: Supply of a good shows direct relationship between price and quantity supplied.

Q: An open market sale leads to : prices and the money supply. interest rates the exchange rate O A. fa...

A: Open market operations are purchases and sells of government securities by central banks in order to...

Q: 1. If the Consumer Price Index rose from 120 to 138 during a 12 month period. What was the rate of i...

A: A comprehensive measure utilized for assessment of price changes in a crate of labor and products il...

Q: If demand is steeper than supply, this means that Select the correct answer below: producers pay a l...

A: consumers pay a larger proportion of tax Option 2nd is correct. Consumers will bear more of the tax ...

Q: Producer surplus is the difference between the amount that suppliers in the market are willing to se...

A: Producer surplus is the surplus earned by the producers.