Can a “Black Market” be justified? First answer either YES or NO. Describe why be explaining your reasoning. Next, provide an example

Q: Please draw what the market for loanable funds and labour market diagrams will look like using the…

A: The market for loanable funds is a market where suppliers of loanable funds and demanders of…

Q: a) Can the threat of a price war deter entry by potential competitors? What actions might a firm…

A: Monopolistic competition refers to a market structure characterized by many firms producing…

Q: Which of the following is a positive statement? O Interest rate is too low.

A: Positive statements are those statements that can be checked whether it is true or false. It is…

Q: Under the expenditures approach GDP is the sum of all money spent in buying final goods and services…

A: Gross domestic product measures the market value of final goods and services produced by an economy…

Q: At market equilibrium, there is OA surplus O A balance between supply and demand OA shortage O…

A: Equilibrium occurs where the demand and supply forces are equal. Change in demand or supply brings…

Q: Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: A consumer downloads 3 movies and 4 apps per week. Suppose the price is $2 per movie and $2 per app,…

A: Given: Marginal utility per Movie = 6 Price per movie = $2 Marginal utility per app = 8 Price per…

Q: PRICE Point A to Point D Point A to Point B Point C to Point B A Point C to Point D D B C D₁…

A: Demand curve is the downward sloping curve.  The factors affecting demand are income of consumer ,…

Q: What is the mainstream 'Stages of Growth' model of how countries develop? When people who advocate…

A: Introduction According to the Stages of Growth model, countries must go through various stages of…

Q: "Europe 2020 strategy?" The Europe 2020 strategy is the EU's program for growth and jobs until the…

A: The Europe 2020 strategy was launched by the European Commission in 2010 with the goal of promoting…

Q: 4.10. A social choice function satisfies the weak Pareto criterion if, whenever every voter places…

A: Social choice theory deals with the study of combining individual preferences into a collective…

Q: Suppose sunflowers are currently selling for $45 per dozen, but the equilibrium price of sunflowers…

A: Equilibrium in the market occurs at the point where quantity demanded is equal to quantity supplied.

Q: DVD players 50 40 30 20 10 0 10 B Japan 20 30 40 Quantity of wheat per period 50 Tools PP Curve…

A: a) The different ways that two commodities could be produced utilising the available resources are…

Q: 5.2 David gets $3 per week as an allowance to spend any way he pleases. Because he likes only peanut…

A: Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…

Q: Suppose the market demand for a homogeneou product is given by P = a - bQ, where a and b are…

A: The output of Firm 1 that maximises profits is provided for each conceivable output of Firm 2 by…

Q: Use the figure below. Bob and Nancy have the same income and total utility. Nancy will be willing to…

A: A higher risk averse individual always ready to pay more money as risk premium to convert a gamble…

Q: Suppose Lou's demand for good X is given by XL =74 - P/ 6 and Dora's demand for good X is given by…

A: In economics, willingness to pay refers to the worth of a specific amount of good for a consumer as…

Q: 2. The supply Qs = s(P, Pm) has the functional form of: Qs = -12 + 0.5P - 2Pm initially, the…

A: The term "supply" refers to the overall quantity of a certain commodity that is made available to…

Q: Suppose the income of buyers in a market for an inferior good decreases and an technological…

A: A decrease in the income of buyers in a market for an inferior good will increase the demand for an…

Q: PRICE D₂ QUANTITY Do Refer to Figure 4-3. The shift from Db to Da in the market for potato chips…

A: Introduction The desire of a customer to buy a specific commodity or service is known as demand. A…

Q: 4. The St Lawrence County legislature needs some cash and has imposed a $3.00 tax on all Hostess…

A: Taxation is the act of a government obtaining funds from citizens and companies in order to fund…

Q: 16. If an economy suffers simultaneous negative aggregate demand and aggregate supply shocks, and…

A: Negative aggregate demand shocks decrease the aggregate demand at each price level and shift the…

Q: Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly…

A: The market depicted in the graph is monopolistically competitive market, in which there are many…

Q: (21) A firm just purchased a new machine which costs $1000 in real dollars and plan to depreciate…

A: The cost of capital basically refers to the minimum rate of return that a company or a project must…

Q: A cyclically adjusted budget deficit is also called a: Select one: national budget deficit…

A: Deficit refers to the excess of government expenditure over the government surplus in a year.…

Q: In this problem, we distinguish between labor and population in the Solow growth model. A proportion…

A: In the Solow growth model, the distinction between labor and population has an impact on the level…

Q: Suppose we have a market with linear supply and demand which is in equilibrium at price pº.…

A: In the free market, the equilibrium price and quantity is determined by the forces of demand and…

Q: QUESTION 20 When the government borrows in the market, it can get indemnite કુમાવના materist in the…

A: Government borrowing refers to the act of a government raising funds through the issuance of debt…

Q: Suppose that Zamboni Enterprises is the only company that sells zambonis (ice resurfacing machines).…

A: Monopoly market: The market situation where a single seller faces the entire market demand all by…

Q: 3. You are hired as the consultant to a monopolistically competitive firm. The firm reports the…

A: By dividing the total cost(TC) by the total amount of output produced, the Average Total Cost (ATC)…

Q: 1 23 2 3 A Employment Sectrore Jun-20 National Employment с Local Employment New Haven D County…

A: Given data Industry National job Local job NAICS 11 1341517 809 NAICS 21 512527 82 NAICS 22…

Q: What does the demand for enrollments in your college look like? What is on the axes? How do tuition,…

A: A demand curve is a pictorial representation that helps in understanding the relationship between…

Q: Assume that demand for a commodity is represented by the equation           P=80−2Qd.P=80−2Qd.…

A: Market equilibrium is the state where the quantity of a good or service demanded by consumers equals…

Q: An economy consists of coal, electric, and steel industries. For each $1.00 of output, the coal…

A: In the Leontief Input-Output Analysis, a matrix is constructed which represents the interindustry…

Q: Q1(Table: Cost Schedules) The table shows the TR and TC schedules for a competitive firm. Using your…

A: The amount of input that will be used to generate each product must be determined by the firm.…

Q: Suppose that Carlos and Deborah are the only suppliers of pieces of cake in some hypothetical…

A: An Individual's supply curve depicts the positive relationship between the price and quantity…

Q: Would you be able to answer the second question now? Thank you!

A: Given:Labor force = 5000Unemployed = 50 + 200 = 250Unemployment rate = [Unemployed / Labour force] *…

Q: The consequences of government intervention O Serve to increase efficiency in the markets O Are…

A: Government intervention refers to actions taken by a government to regulate, influence, or control…

Q: 4. Suppose that the demand function for knit gloves is given by 150-5P + 3Pc +41 Q= = Where P = the…

A: Consumer surplus refers to the difference between willingness to pay and actual price of good.…

Q: 4.5. BOOK PUBLISHING. The technology of book publishing is characterized by a high fixed cost…

A: Monopolistic competition refers to a market structure that is characterized by a large number of…

Q: The elasticity of Toyota Camrys is_____ elastic than the elasticity of cars because O less, buyers…

A: Elasticity of demand refers to the responsiveness in quantity to the change in demand factors such…

Q: Consider Country A that produces a large amount of chicken, keeping part of them for local…

A: Price ceiling is a defined as the legal maximum price that is determined by the government above…

Q: Consider the following game: Player 1 R B (1,2) T M (1,1) (3,4) (1, -1) L Player 2 (-1,2) (2, -1)…

A: Pure strategy Nash Equilibrium: Nash equilibrium with 2 players is the strategy profile where both…

Q: Harvey's Hardware is thinking about starting a line of lawnmowers to serve its customer base in the…

A: Introduction The labor force, also known as the workforce, is the total of all people available to…

Q: Q5) Consumer Surplus 1,050,000 1.000.000 950,000- Price (dollars per car). 900,000- 850.000-…

A: Consumer surplus is the difference between maximum price a consumer is willing to pay and market…

Q: 5.2 David gets $3 per week as an allowance to spend any way he pleases. Because he likes only peanut…

A: Although you have specifically asked for the solution of d to f, the question requires a solution of…

Q: Suppose Ann has typical preferences over two goods. Then: If bundle (3,1) gives the same utility…

A: Utility refers to the satisfaction. The aim of the consumer is to maximize the utility given the…

Q: Briefly discuss: price earning rastio, dividend valuation model and discounted cash flow methods.…

A: Business valuation professionals generally puts into application these three approaches for the…

Q: Explain 3 reasons why opening a checking account would benefit you?

A: A checking account refers to a type of bank account that allows you to deposit money and withdraw…

Q: The table below shows the labour productivity for the countries of Yin and Yang. Yin Yang Yin Yang…

A: Comparative Advantage: In the trade theory the country which have comparative advantage in producing…