d. Suppose that society decided to reduce consumption and increase investment. i. How would this change affect economic growth?  ii. What groups in society would benefit from this change?  iii. What groups might be hurt?

Q: (12) Suppose all firms in a monopolistically competitive industry were merged into one large firm. W...

A: Monopolistically competitive industry is an industry where there are many buyers and sellers in the ...

Q: TRUE or FALSE. If the statement is correct, write TRUE on your answer sheet. If the statement is inc...

A: Indifference curve refers to the curve which shows different combinations of two goods which provide...

Q: 3. Break-Even Point moldon9 A perfectly competitive firm has this long-run total cost function: ito ...

A: Break even point occurs when total revenue is equal to total cost. TR = TC P*Q = TC ..... (1) Now, d...

Q: Suppose AE = 0.50 Y + 500. If GDP = $1,000, and There will be excess supply, so inventory will accum...

A: AE is Aggregate Expenditure.  If AE > GDP, then it means there is excess demand in the economy. I...

Q: Average Product 13 Labor Total Product 1 13 31 15.5 51 17 4 67 16.75 79 15.8 6. 86 14.33 7 86 12.29 ...

A: Profit maximization is a process that companies go through to ensure that they have the highest pote...

Q: Suppose the price of the good is equal to 90/unit. Using the demand and supply schedules in letter b...

A: The demand curve is a downward-sloping curve and the supply curve is an upward-sloping curve. The eq...

Q: Does a competitive firm’s price equal its marginal cost in the short run?

A: A competitive firm is one that produces and sells output in the market with many sellers who offers ...

Q: 10.4 (LG 10.4) The following data are available for two mutually exclusive projects: Project A Proje...

A:

Q: What is the importance of mircro economics in pur day to day life?

A:

Q: The Solow model 15 Y, = AK; L-) Eq(1) Given the relationship described in equation (1), we can state...

A: In neo classical growth models such as Solow-Swan model long run economic growth is defined in the f...

Q: Cartels have a difficult time maintaining their output agreements because an individual firm has an ...

A: Oligopoly: It is a market where there will be only some sellers and a large number of buyers availab...

Q: Given the following profit function: T=-2Q^2+260Q-4500, Answer the following questions.

A: Profit is the difference between tital revenue and total cost . It is the amount left from the reven...

Q: How are Milton Friedman’s economic theories applied?

A: Milton Friedman is widely considered to be one of the most important economists and political philos...

Q: Make a graph that show the relationship between labor (horizontal axis) and total product, average p...

A: [3]

Q: Create a table describing input combinations of labor and wheat flour in producing a certain cake. T...

A:

Q: If exports is 100, imports is 80, and budget balance is positive 200, and investment is 300; calcula...

A: Given:  Exports = $100, Imports = $80 Budget Balance = 200 Investment = 300

Q: Who favors Milton Friedman’s theories currently and how are they applied?

A: Answer-

Q: A bicycle tire company performed a web-based study of a popular tire retail price over time. The stu...

A: it is given that, the retail price is increased from $16 per tire to $19 per tire. the time period i...

Q: Assume the Fed is trying to decide whether to lower the required reserve ratio to 8%. Currently, the...

A: Target Required reserve ratio = 8% Current required reserve ratio = 10%  Deposit = $500  

Q: Problem 2 (2 points) Given the demand function P = - QD2 – 2QD + 64, and the supply  function P = QS...

A: Given:  P = - QD2 – 2QD + 64 P = QS2 – 2QS + 14.

Q: Determine the labor market status of each of the following people. If they are unemployed, can they ...

A: Concepts: Labor force: Labor force is consist of employed workers as well as unemployed workers (wh...

Q: Suppose that Jacques, Julia, Cat, and Guy are potential suppliers of catering services for weddings....

A: The producer surplus is the difference between the price of the product and the producer's willingne...

Q: Reflection paper about types of industries and industry & environmental analysis

A: There are many effects that can be seen with the increment in industries. The environment is affecte...

Q: Under what conditions do the following production functions exhibit decreasing, constant, or increas...

A: In a market, the production function represents the nature of the input resources in terms of their ...

Q: If the sample coefficient of determination (R2) is 0.75, this means that a. 75 percent of the variat...

A:  Coefficient of determination (R2) is a statistical measure which tells us the goodness of fit of th...

Q: Consider the diagram below depicting the demand and cost conditions faced by a monopolistically comp...

A:

Q: Which of the following situations best exemplifies a relationship between nations that results from ...

A: Exports are the goods and services that a country produces in its own country and sells to enterpris...

Q: What is a price bubble? Asset price that has risen above the level justified by economic fundamental...

A: Answer: Price bubble: it refers to the continuous rise in the price of an asset that is above the no...

Q: bread(B) with raw wheat (W). The production functions are: Cereal: C = 28WC – 1.5WC2 Bread: B = 65WB...

A:

Q: An individual has preferences over contingent consumption in two states of nature {a, b}, given by u...

A: Optimal consumption point for a consumer optimizing its utility over consumption is two states achie...

Q: 1] The scale effect of an increase in the wage a) only impacts firm decisions in the short run b) wi...

A: Scale effect refers to cost advantages reaped by firms when the production of the firm becomes effic...

Q: Consider a competitive industry with a large number of firms, all of which have identical cost funct...

A:  In the short run, a competitive  firm produces output where price is equal to its marginal cost.  

Q: The cash flows for three mutually exclusive alternatives are given in table below. MARR = 4%. Alt. A...

A: The IRR technique is used to calculate the rate of return that is hidden in the cashflows of an inve...

Q: Pork belly strips and lettuce are complementary goods because most of the time they are enjoyed toge...

A: As we know that complementary goods have a negative relationship between the price of one good and t...

Q: Who did John Maynard Keynes advise with his economic theory?

A: The macroeconomic economic theory of total expenditure in the economy and its consequences on output...

Q: A vacuum cleaner dealership sold 440 units in 2011 and 423 units in 2012. Find the percent increase ...

A:   Percentage change=Year2012-Year2011Year2011                            =423-440440                ...

Q: People often sell goods (or raffle tickets) as part of a fund raising project. These projects typica...

A: A fundraising project is defined as an event with the objective of raising money for a given cause. ...

Q: Assume that the most efficient production technology available for making vitamin pills has the cost...

A: OUTPUT TC MC ATC 25,000 1,00,000 0.50   50,000 1,50,000 1   75,000 1,87,500 2.5   1,00,000 2...

Q: The discount rate when the net present value of a project is zero is called the rate of return margi...

A: The answer is as follow :

Q: (5) On your graph, indicate the supply curve of your firm in the short run.

A: Demand and supply  In an economy there is always a demand for goods and services and the supply of g...

Q: A developing country does not have enough taxes to cover its expenditures and is unable to borrow. T...

A: The economies around the globe are involved in the use of the limited amount of resources in the mos...

Q: Q2. Suppose a management accountant of a manufacturing company give you the following information: -...

A: Answer: Given, Price (P) (in OMR) Quantity (Q) (units per month) 1000 (P1) 175 (Q1) 1800 (P2)...

Q: b) The ABC electric company produces two products, refrigerators and cooking ranges. Production take...

A: Let X and Y be the total number of refrigerators and ranges to be manufactured.  Maximize Z = 60X + ...

Q: Suppose that two airlines are Cournot duopolists serving the Peoria-Dubuque route, and the demand cu...

A: Given as, Demand = Q = 250-2p p = 115-Q/2 TC = Total cost = 450+40q Q = Q1+Q2

Q: 5. Jane’s Juice Bar has the following cost schedules: Quantity 0 vats of juice 1 2 3 4 5 6 Variable ...

A: In economics, average variable cost is a firm's variable costs divided by the quantity of output pro...

Q: Suppose the competitive tablet market is in long-run equilibrium. If at this equilibrium, the typica...

A: Average total cost = Total cost / Quantity of output  

Q: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answe ...

A: In a monopolistic competitive market there are large number of firms producing similar but not ident...

Q: Suppose that Jacques, Julia, Cat, and Guy are potential suppliers of catering services for weddings....

A: Given:  There are 4 potential suppliers of catering services.  Name Cost Jacques $50,000 Juli...

Q: hetical payoff matrices show the profits (in millions of dollars) for each company. In the absence o...

A: All answers given below,

Q: (10) Two firms compete by choosing price. Their demand functions are Q1 = 20 – P, + P, and Q2 = 20 +...

A: Demand functions are: Q1=20-P1+P2Q2=20-P1+P2