Briefly explain whether each of the following represents a shift in supply or a change in quantity supplied. Use a graph to illustrate your answer. An increase in the use of corn in the production of ethanol has raised the cost of corn to farmers who use it as livestock feed. Speculators in world steel markets push the price of steel up, leading American steel companies to expand production.

Q: Suppose there are four gas stations in your town. The quantity of gas that each one is willing to su...

A: Total quantity supplied by the market is the sum of quantity supplied by each seller in the market a...

Q: In a market this is highly competitive with little product differentiation and easy market entry, pr...

A: When the market is highly competitive with little product differentiation. This implies the market i...

Q: Q4: A bank borrowed a company $130,000 to adjust a building. This loan is for 3 years at Compound in...

A: In this case interest rate amount is the difference between future value and present value .  Theref...

Q: Pls answer all three question, pls explain the correct option in 5-6 sentences.

A: In an economy, the central bank has various functions to perform that make it different from other f...

Q: The television acts as an eye opener to the viewers. The impact is progressive on the society. In to...

A: People used to communicate before the advent of the press media by writing letters and sending them ...

Q: Suppose GDP is Rs.8 trillion, taxes are Rs.1.6 trillion, private saving is Rs.0.5 trillion, and publ...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: Exercise 5: Insurance Consider two individuals, Dave and Eva. Both Dave and Eva have initial wealth ...

A: Since we answer a maximum of 3 sub-parts questions 1-3 will be answered here. Please reupload the qu...

Q: Assume that the government sets a binding price ceiling on the interest rate that banks charge on lo...

A: A price ceiling is the set limit on how much a seller can charge for a product or service. Price cei...

Q: You own the only pharmacy in the small town of Jackson City, which has 40,000 residents. You would l...

A: Answer: To find the market demand for 40,000 let us first find the market demand of 4 individuals. T...

Q: Suppose the production is given by Y=0.5*K13(AN)23. Suppose the reciation rate is 2%, number of work...

A: Production is that the method of merging varied material and immaterial inputs (plans, know-how) to ...

Q: Assume a closed economy, perfectly elastic labor supply, and linear technology. Suppose the incremen...

A: The Harrod-Domar model is a Keynesian economic growth model. In development economics, it is used to...

Q: When a market is competitive and functioning properly, economic theory predicts that the market equi...

A: In the market where it is competitive and functioning properly, then it is the market equilibrium li...

Q: e variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric respc m...

A: Fixed cost remains the same at each level of output.  Hence, fixed cost corresponding to 2 units of ...

Q: Assume the market for good Y is in equilibrium. (a) Draw a correctly labeled demand and supply gr...

A: since you have asked a multipart question and according to our policy we can only solve the first 3 ...

Q: Suppose a giant snowstorm leaves you snowed in. If your snowblower owning neighbour comes over to he...

A: Economic well-being is defined as having both current and future financial security. It also include...

Q: 4. A manufacturing company leases for $100,000 per yr a building that houses its manufacturing facil...

A: A "break-even point" (BEP) is a point in economics and business where the cost or expense and revenu...

Q: 42. In the context of oligopoly, the kinked demand curve hypothesis is designed to explain A. O Pric...

A: The markets are the place where the buyers and the sellers of the goods, and services tend to meet a...

Q: For each program listed below, discuss what market failure might be (or are ) used as a partial rati...

A: Note: As per Bartleby's Policy, I am providing the answers to the first 4 sub-parts. Kindly post oth...

Q: a.) Taxes used to correct for a negative externality b.) Subsidies used to correct for a positive ex...

A: a. To use taxes to correct for negative externality, the Government needs to estimate value of margi...

Q: Give 3 key characteristics of Sucessful Technopreneurship and explain each of it.

A: The term entrepreneurship refers to self owned business owners who are able to organize, develop and...

Q: According to Ibn Hazm, when zakah collection is not sufficient to satisfy the basic needs of the poo...

A: Answer-

Q: 37. All the following curves are U- shaped except A. O AVC В. О AFC С. О АС D. O MC

A: Marginal cost refers to change in total cost with respect to change in output. MC intersects AVC and...

Q: Fiona has von Neumann-Morgenstern utility function u(x) = VT and initial wealth 640, 000. She faces ...

A: Risk-averse people will not be willing to take risks. Given: u(x)=x1/2  Initial Worth = 640,000 Loos...

Q: If price of a good increases from $ 120 to $130 then quantity demanded will decrease from 1700 to 15...

A: In case of normal goods, demand curve shows the negative relationship between price and quantity. Wh...

Q: David Ricardo ([1817] 1965) modified Smith’s model by introducing diminishing returns to land cultiv...

A: 1. David Ricardo’s theory of economic development assumes the following: - There exists a market wh...

Q: wer as soon as possib

A:  Every factor of production gets rewarded equal to its Marginal product. Marginal product is the net...

Q: Suppose the production is given by Y=0.5*K13(AN)23. Suppose the depreciation rate is 2%, number of w...

A: Introduction: The loss or gain of an investment over a period of time represented as a percentage of...

Q: For a well diversified portfolio, ranking of portfolios as per Sharpe’s measure and Treynor’s measur...

A: Both the Sharpe and Treynor ratios are used to calculate the risk-adjusted rate of return. The Sharp...

Q: In 1776, Adam Smith ([1776] 1936) published his treatise, An Inquiry into Nature and Causes of the W...

A: Economic development is the process whereby simple low income national economics are transformed int...

Q: Answer all 3 for full credit: Economics is the "human" social science of production, goods and sevic...

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

Q: True/False: There are two goods X and Y Let's say Px and Py both double and income triples. The slop...

A: The measure that depicts the possible quantities of commodities that could be brought with a given i...

Q: Graph 1 Graph 2 PPF PPE TABLETS TABLETS Based on the previous description, the trade-off Japan faces...

A: * ANSWER :-    Based on the given information the answer is given below   

Q: A vertical supply curve parallel to the price axis implies that the elasticity of supply is

A: To find:  A vertical supply curve parallel to the price axis implies that the elasticity of supply i...

Q: 1. A consumer is in equilibrium when marginal utilities are

A: To find : Consumer is in equilibrium when marginal utilities are. 

Q: Considering an economy with a total labour force of 151 million people, in which 144 million people ...

A: Given: Total labor force= 151 million Employed=144 million Searching for job=7 million Adult populat...

Q: Suppose there are 3 agents i e(1, 2, 3} with preferences over 3 objects j €{a, b, c} as follows: 1:c...

A: Answer is given below

Q: a) Draw original budget constraint (with a $500 DI benefit) and the budget constraint under alternat...

A: the social security disability insurance(DI) program was restructured so that the disabled could get...

Q: . With which of the theories of wages, is the name of John Stuart Mill associated?

A: With which of the theories of wages, is the name of John Stuart Mill associated?

Q: Illustrate using a supply and demand graph what happened to gasoline prices in the World View, and t...

A: The equilbirum price and quantity of a product sold in the market are determined by the forces of de...

Q: Which of the following examples shows the most elastic demand?

A: Price elasticity of demand: Price elasticity of demand shows the effect on demand with the change in...

Q: Use the two-period model from the Appendix to answer this question. Your current income is 30,000. Y...

A: Current period income (Y1) = 30000 Current period expenditure (C1) = 24000 next period income (Y2) =...

Q: Which of the following is part of mandatory outlays?   A. Income assistance B. Defense spending ...

A: A Outlay happens when Federal cash is really paid out, not simply vowed to be paid ("obligated"). In...

Q: Which of the following is a true statement? a. In a bubble, the price of the asset is the expected p...

A: The value of a future stream of cash flows at a specified interest rate depicts the present value. V...

Q: stand. Non-wage income in royalties from the corn baller are $40 a day. a. Find the MU, and MUc. b. ...

A:

Q: A wood products company has decided to purchase new logging equipment for $100,000 with a trade-in o...

A: Here we calculate the depreciable  life and choose the correct option by using the given information...

Q: Consider a market for low quality used cars where Qd = 10000 - 200p and Qs = 100p + 100 “Good” used ...

A: Qd = 10000 - 200p            ........... (1) Qs = 100p + 100                  ........... (2) For eq...

Q: 1. The cost which a firm incurs for purchasing or hiring factors is called

A: To find : What is cost which firm incurs for purchasing or hiring factor. 

Q: Consider an exchange economy with two goods, 200 agents of type A, and 100 agents of type B. The pre...

A: Introduction: Equilibrium is a stable condition of equilibrium in which opposing forces cancel each ...

Q: Suppose GDP is Rs.8 trillion, taxes are Rs.1.6 trillion, private saving is Rs.0.5 trillion, and publ...

A: Gross domestic product (GDP) is the standard measure of the value added created through the producti...

Q: 4 A furniture manufacturer makes chairs, coffee tables, and dining room tables. Each chairrequires 2...

A: Variables will be what we need to find . Here chair , coffe table and dinning room are the varibale ...