Constant returns to scale (CRS) implies variable total factor productivity constant returns to capital increasing marginal products constant returns to labor diminishing marginal products

Q: Refer to the table below.   Type of Production Production Alternatives A B C D E Automobiles 0 2 4…

A: Production possibility curve shows the combination of production of two different goods with the…

Q: A firm's marginal cost function is given by: 2 MC(q) = -9 If the future price of the firm's output…

A: Marginal cost The price to manufacture the second unit of output is known as the marginal cost.…

Q: ers would draw a card from a standard 52 card deck. Whatever card they drew determined what they…

A:

Q: In a particular market there are social costs that are greater than private costs What type of…

A: A plant can also face social costs. Social costs are those costs that society has to bear because of…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equi price…

A: Demand shows inverse relationship between price and quantity demanded. It slopes downward. Supply…

Q: Suppose you want to withdraw $30,000 at the end of year 3 and another $30,000 at the end of year 5.…

A: When money is put somewhere, interest is accrued. Principal value refers to the original deposit,…

Q: 28 24 20 16 12 8 4 0 P D1 048 12 16 20 24 Q I 14. If a $6.00 per unit tax is imposed on this…

A: Demand and supply curve determine the equilibrium price and quantity at the point of intersection of…

Q: 23. James borrowed $600 from the bank at some rate per annum and that amoun becomes double in 2…

A: The future value depends on rate of interest. The higher rate of interest leads to higher future…

Q: 1) what is the economic point of view of globalization? 2) How can globalization become more just?…

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

Q: olquas 7 Consider the accompanying cash flow series at varying interest rates. What is the…

A: Given  The formula of the present value of money: P=F1+in

Q: The table below shows the annual percentage change in sales for five locations of J&J Burger. Pct.…

A: Sales in Oxnard location in 2021 is $125,864

Q: Suppose that there are two countries, X and Y, which differ in both their rates of investment and…

A: The steady state level is reached where the per capita variables such output per capita, capital…

Q: An expectation of a lower price in the future will

A: "Equilibrium in a market is attained at a point where demand and supply curves intersect each other.…

Q: 5. Consider an economy that is characterized by the following equations: Y=C+I+G+ NX Y = 6,000, G =…

A: Trade balance shows the balance of exports and imports of any country if the export is more than…

Q: Conditions Board Setup - Random Rule Changes - None Unequal Start Conditions - Yes Assigned Groups -…

A: The unequal start conditions had a significant impact on the Catan game. The most notable difference…

Q: Refer to Table 6.3 below, use the expenditure approach to calculate gross domestic product from the…

A: The expenditure approach is a technique for computing a country's total national output (Gross…

Q: In 2012 final sales equal $350 billion and the change in business inventories is -$60 billion. GDP…

A: GDP measures the value of final goods and services that are produced within the borders of the…

Q: A positive externality will cause a market to produce Select one: more than is socially desirable. O…

A:

Q: What is Monopolistic Competition. What are the features of monopolistic competition?

A: Market refers to the mechanism in which buyers and sellers interact to reach an agreement on the…

Q: When considering entry into a foreign country, any multinational marketer would be well advised to…

A: Political risk is the risk which is associated with a political change or instability in a country.…

Q: The era of Mercantilism trade theory was   Question 7 options:   1600-1900   1500-1800…

A: Mercantilism depends on the rule that the world's abundance was static, and subsequently, numerous…

Q: The manufacture of Prolene is an industry that offers such large production economies of scale that…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Reconcile Smith's 'invisible hand' with his view of government. What is the relevance of his…

A: Smith's "invisible hand" is the idea that market forces will lead to the best possible outcomes for…

Q: Vince loaned a certain amount from a cooperative and promised to pay it back with 2.33 times his…

A: Loan Amount = A Maturity Amount = 2.33A r = 10.42%

Q: Which is a better approach to management in a free market economy?

A: Supply and demand are the foundation of the free market, which has little to no governmental…

Q: Units of rice 1 2 3 4 5 6 7 8 O 4 utils O 50 utils 53 utils O 28 utils Marginal Utility of rice O 25…

A: Since you have posted multiple question, as per the guidelines we can solve only one question per…

Q: Jane Smart plans to make the following deposits in an account towards cash purchase of a real estate…

A: The interest rate is the amount a moneylender charges a borrower and is a percentage of the…

Q: Which of the following is not a property of a firms cost curves? Select one: a. Marginal cost must…

A: DISCLAIMER  “Since you have asked multiple questions, we will solve the first question for you. If…

Q: The demand and supply schedules in this table list the quantity supplied and quantity demanded of…

A: Demand and Supply  Find out the cost of the goods and how much is produced and consumed.By making…

Q: Suppose than an economy has output Y = AK 0.3L 0.7, that Y equals $42 trillion, capital K is $64…

A: Production function: Y = A K0.3 L0.7Y = $42 trillionK = $64 trillionL = 125 million workers

Q: Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows…

A: The Production Prospects Frontier (PPF) is a chart that shows every one of the various mixes of…

Q: 13. Assuming this market is at equilibrium, what is the "producer's surplus"? a) $98 b) $49 O c) $32…

A: Equilibrium is a situation which demand and supply are equal. producer surplus is the excess of…

Q: Will the rise of AV technologies create some jobs? What are possible AV-related new jobs?

A: Yes, the rise of AV technologies is likely to create new jobs in a variety of industries. For…

Q: A) Can the government tax its own agencies or instrumentalities? Explain.

A: No. Most state agencies and local government entities in most cases are exempt from paying taxes.…

Q: 1. In Eng Eco, we will be introduced to the cash-flow diagrams that represents how ______ earns…

A: 1) Time-value of money refers to a concept that an amount of money that will be received at some…

Q: a. Using this data, estimate the price elasticity of demand for Cannabis Indica. (Hint: you should…

A: Price Elasticity of demand is the respoinsiveness of quantity demanded with respect to the changes…

Q: One approach to determining the consumptive use value of a resource that is normally not accounted…

A: Option d is correct - the existence value. Even if an individual or group of people never uses a…

Q: Briefly describe and explain how the Monetary Policy Committee (MPC) impact the inflation rate?

A: The basic goal of monetary policy is to stabilise the money supply across the economy and avoid…

Q: Refer to Table 6.2. Assume that this economy produces only two goods Good X and Good Y. If year 1 is…

A: The GDP Deflator, which is determined based on a base year, is a measure of the price level of all…

Q: 5. A debt is said to be short-term if? A. Has a low return. B. Has more than 10 years to maturity.…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Suppose an economy produces steel, wheat, and oil. The steel industry produces $80,000 in revenue,…

A: Gross Domestic Product or GDP is the aggregate of the money value of all products and services…

Q: Assume that Smith deposits $500 in currency into her checking account in the XYZ Bank. Later that…

A: As we know A bank is a financial institution that mainly  bridges the gap between savers and…

Q: A firm makes beer and its cost function is C(q) = 4+q². Are there economies of scale?

A: Economies of scale refers to the situation when average cost decreases with increase in production

Q: If there is no tax placed on the product in this market, consumer surplus is the area O a. A. O O O…

A: The price a person is willing to pay for a good and the market price for that good are separated by…

Q: Annabelle typically drives her car to school, but she lives near a bus stop and is willing to take…

A: Two goods are considered substitutes in economics if they can both satisfy the same need. In the…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equilibrium…

A: The demand and supply of any commodity is not onlu affected by its won price but also due to other…

Q: The GDP of the U.S. in 2002 was around $10 trillion. This means   Group of answer choices All of…

A: The final value of the goods and services produced by an economy inside its domestic territory…

Q: UK officially left the EU as of 31st December 2020 to ‘trade internationally’. Discuss the impact…

A: Impact upon consumers When it comes to prices, international trade can have a considerable impact on…

Q: Question Z Draw a production possibility frontier. The vertical axis shows the production of public…

A:

Q: The demand and supply schedules in this table list the quantity supplied and quantity demanded of…

A: Demand refers to the quantity that a consumer wishes to buy at a given price in a given period of…