Q: A young entrepreneur, Adrianna, from Tobago manages two businesses – a bakery and a car rental. In a...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: Consider the two period consumption savings problem faced by an individual whose utility is defined ...
A: For the above question let us firstly derive the lifetime budget constraint : In period 1 : Budget C...
Q: Because of the peso devaluation, a car costing P150,000 is to be purchased through a find company in...
A: We have, Car price = P150,000 Down payment = P40,000 Loan amount = P150,000 − P40,000 = P110,000 Mon...
Q: VARIABLE COSTS OF PRODUCTION UNDER THEORY OF COMPARATIVE COSTS, COMMENT ON THE GRAHAM'S VIEW?
A: Answer: Graham refutes the generally held belief that specialisation will increase trade countries' ...
Q: 2) Indicate the type of cost which is not variable cost: a) Workers' wage. b) Material used in produ...
A: Fixed cost refers to the cost which is not dependent on output but remains fixed. Variable cost is t...
Q: Discuss how knowledge of price elasticity of demand might be of practical use to a firm selling holi...
A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation unde...
Q: Please be brief and no more than 3 sentences are expected. 1. Why economic growth differs among coun...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: Consider a game between 2 payers (Ann and Bill) where each chooses between 3 actions (Up, Middle and...
A: Players 1: Ann Player 2: Bill
Q: 1. If demand is equally elastic, and price increases from 5 to 7, what is the total change? If price...
A: Demand refers to the inverse relationship between the price and quantity demanded. The rise in price...
Q: 19. If the price of corn is $6.50 a bushel and the Average Total Cost of producing a bushel is $5.60...
A: The price of corn is $6.50 The average total cost is $5.60 100 bushels of corn are produced. ------...
Q: ej Maximize f=g00sc t1200 Y-33CY -1-5x²-3Y? The totet cost functon C=29=+ 2000 -409-0493, find the n...
A: f) C=2q2+2000-40q-0.1q3AC=2q2+2000-40q-0.1q3qAC=2q+2000q-40-0.1q2∂(AC)∂q=2+2000(-q-2)-0.2q ...
Q: 1. To set up wastewater plants and connect the trailer and low-income households to the nation's sew...
A: The investment is considered fruitful when the present value of benefits exceeds the present value o...
Q: Nicky Joe runs a satellite television subscription service for a rural customer base is considering ...
A: Please find the answer below.
Q: The economy is currently at the potential level of GDP when the Bank of Canada announces that they w...
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...
Q: Jim's retirement account in a company currently totals $416,384. What perpetual income can Tom and h...
A: Given that the present totals in Jim's retirement account P= $416,384 Rate of interest r=5% we have ...
Q: Scenario 3: Initially, the government's budget is balanced; then the government significantly increa...
A: Please find the answer below.
Q: Graphically explain the negative effects of quotas. How about subsidies? Label and explain results...
A: A quota is a limitation or upper limit set for the use, availability, or consumption of goods. A sub...
Q: The economic model of Human Capital Investment assumes that individuals choose their path through po...
A: The human capital theory posits that people can build their useful limits through more prominent ins...
Q: Briefly distinguish the specific tax and Ad Valorem tax?
A: Taxes are primary source of income for the government.
Q: In many countries, income earned from financial investments is taxed at a higher rate than income ea...
A: The answer and correct explanation for the given question is as follows:-
Q: Which of the following laws suggests that attempts by a central bank to regulate the level of lendin...
A: Answer: The correct option is: C: Goodhart's law
Q: The federal government currently uses many forms of taxation, both direct and indirect, to raise rev...
A: Direct taxes are taxes that are imposed on natural persons and they are based on the taxpayer’s abil...
Q: Demonstrate the Effects of a Financial Crisis using the Aggregate Demand – Aggregate Supply Model. A...
A: Asset prices plummet, firms and individuals are unable to pay their loans, and financial institution...
Q: Show that the equation x + 2y- 3x +5 =0 represents a parabola. Find the focus, vertex, axis and dire...
A: Answer:
Q: 1. Suppose that in order to engage in some legitimate business, entrepreneurs need permission from a...
A: Bribe function : N = 600 - 5(x + y ) When both the officials collude they jointly maximize the amou...
Q: 1. To set up wastewater plants and connect the trailer and low-income households to the nation's sew...
A: The above problem is based on the cost-benefit analysis whose other name is benefit-cost analysis th...
Q: Joe is a college football player considering whether to attend another year of college or to enter t...
A: When talking about marginal analysis in economics, it refers to analyzing the cost and benefit assoc...
Q: A problem often discussed in the engineering economy literature is the “oil-well pump problem.' Pump...
A:
Q: a. Calculate the GDP using expenditure approach: b. Calculate the GDP using income approach: C. Supp...
A: Gross domestic product (GDP) is the standard measure of the value added created through the producti...
Q: Briefly distinguish the specific tax and Ad Valorem tax? Don't need any example or long explanation....
A: "A tax is a necessary fee or monetary charge imposed by a government on an individual or an organiza...
Q: 1. If demand is equally elastic, and price increases from 5 to 7, what is the total change? If price...
A: When comparing elasticity of demand, it can be said that inelastic demand is when coefficient of ela...
Q: International financial capital flows into the United States come from: а. income that is not spent ...
A: International financial capital flows into the United States is the money invested into the United S...
Q: (b) Consider a production function: Q=7(L), where Q represents the output and L is the factor of pro...
A: Envelope theorem is related to the differentiability of certain variables and its impact on the valu...
Q: 6. Suppose that a firm offers customers either (1) the ability to buy any quantity they desire for $...
A: A pricing strategy is a model or method used to establish the best price for a product or service.
Q: * 20. In a closed economy without investment and government spending, C = 1000 + .5YD, and taxes T=5...
A: Given C = 1000 + 0.5Yd Taxes = 50 As economy has no investment and government spending the level of ...
Q: 1. Would you consider spending to make a school or an office building earthquake-proof a good invest...
A: 1 In order to create the earthquake resistant in the building and the schools is to build an undergr...
Q: Assume the definition of deductible elasticity that gives non-negative figures for normal demand. A ...
A: Elasticity Elasticity is a term that refers to describe how a percentage change in one economic vari...
Q: Is this possible that the Monopolists necessarily make the profit?
A: Answer: As we know that the general concept or impression is that the monopolist has complete contro...
Q: The table shows the cost information for a farm when the farm has three different amounts of capital...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: A country's level of trade is measured by exports as a percentage of GDP.
A: The level of commerce in a country may appear to be similar to the balance of trade at first glance,...
Q: MODIFIED TRUE or FALSE. Write "T" if the given statement is TRUE, correct and valid. Write "F", if o...
A: Note:- Since we can only answer one question at a time, we'll answer first three. Please repost the ...
Q: Consider the following example. The probability of a blender injuring a consumer during use is given...
A: The person under strict liability would choose precautions of the level at which the expected cost o...
Q: Barron Chemical uses a thermoplastic polymer to enhance the appearance of certain RV panels. The ini...
A: Over a given period, an investment's return on investment (RoR) is calculated as a percentage of the...
Q: Express the equation of the budget line 4x + 5y - 300 = 0 in the: (i) intercept form and (ii) slope ...
A:
Q: The long-run aggregate supply curve relates the aggregate price level to real GDP O in the short run...
A: Aggregate Supply(AS) shows the positive relationship between price level and the real GDP.
Q: Find the present value of $5000, due at the end of 4 years and 6 months, if money earns 4%, converte...
A: Compound interest refers to the interest that is paid on the principal. It gains interest in subsequ...
Q: 4) If the range of profitable demand for a company producing digital pumps was D'1 = 8.5 units and D...
A: The profit range of demand can be defined as the range of possible profitable outcomes for investors...
Q: In an economy with no government and no trade, autonomous consumption is £200 and planned investment...
A: Autonomous consumption = £200 Planned investment spending = £100 MPC= 0.7
Q: Since Covid hit in 2020, the Federal Reserve created $6.5 trillion of new money. Currently bank rese...
A: Given information: Change in monetary base: $6.5 trillion Reserve requirements: 10% To find: effec...
Q: Show graphically that the less responsive is investment to interest rates, the less effective is mon...
A: Answer -
An example of a short-run fixed factor of production is.....
a. postage for mailing.
b. electricity.
C. labor.
d. capital equipment.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- When is the firm operating in the short run and when does it operate in the long run? and Discuss the factor(s) that determine how many workers the firm wishes to hire in the long run.The basic difference between the short run and the long run is that?a. Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell you about the nature of the production function? What does each of these shapes tell you about the MRTS?
- If the marginal product of capital decreases, what happens to the IS curve?(a) It shifts outward.(b) It shifts inward.(c) There is movement along the curve.(d) It remains the same.(e) None of the above.Q = A Lx Ky (Quantity, A, Labor, Capital) If A; X; Y are all positive numbers, does the production function exhibit Increasing return to scale, Constant return to scale or Decreasing return to scale?Draw a graph showing a set of isoquants that depict capital and labor to be perfect complements (not substitutable at all) in a production function that exhibits constant returns to scale. Be sure to label the input and output levels on the isoquants.
- What is the Short run and long run period in the production function of the economics1) a. What is a production function? How does a long-run production function differ from a short-run production function?b. Explain the term “marginal rate of technical substitution.” What does a MRTS = 4 mean?which of the following statements is true?A) The MP of labor is always negative at short runB) The MP of labor is increasing at short run because the stock of capital fixedC) Adding more labor will produce progressively greater increments of outputD) The MP of labor after an increase the beginning declining while remaining positive at short run
- Complete the following table by finding total product (tp), Average product (ap), Marginal product (mp) and draw a graph of tp, ap, mp and also explain the stage of production input of labor Total Product Average Product Marginal Product (L) (tp) (ap) (mp) 0 0 1 8 2 18 3 25 4 30 5 33 6 34Based on your understanding, does additional input of Labor entails a steady increase in the output of a firm? Why or Why not? Support your answer using the concept of productionIf the total product of two workers is 80 and the total product of three workers is 90, then the average product of the three workers is ________ and the marginal product of the third worker is ________. a. 20; 30 b. 160; 110 c. 30; 10 d. 20; 3.33 e. All the other answers are wrong.