Define dominant strategy .

Q: You are hired as a consultant at a revenue management firm and one of ourrecent clients wished to de...

A: The optimal price for the firm is where its profits are maximized. The profits are maximized where m...

Q: How can the Federal Reserve and government use monetary policy and fiscal policy to reduce the effec...

A: Federal reserve: It refers to that system that handles the country's growth by estimating the variou...

Q: In some industries, securing the adoption of an industry standard that is favourable to one’s own pr...

A:  Diminishing returns mean a decrease in the marginal output when a unit of input increases.      

Q: Explain the origin of both consumer surplus and producer surplus and explain how properly functionin...

A: When economy is getting as much benefit as possible using its scarce resources and all the possible ...

Q: Give a detailed answer to the theoretical question: Display graphically changes in the equilibrium i...

A: A slowdown in economic growth is characterized by the reducing GDP growth rate and aggregate demand ...

Q: Give a detailed answer to the theoretical question:Display graphically changes in the value of domes...

A: Exchange rate: - the exchange rate is the rate at which the currency of one country can be exchanged...

Q: An economist estimated that the cost function of a single-product firm isC(Q) = 100 + 20Q + 15 Q^2 +...

A: Given Data:Cost function, C(Q)=100+20Q+15Q2+10Q3

Q: The following table presents the price, cost and production of Samsung mobile company in 2018. In th...

A: 1) Table: Using the following formulas: TC = VC+FCFC = TC-VCVC = TC-FCAC = TC/QAVC = VC/QAFC =  FC/Q...

Q: 0/1 pts Question 5 A college student is faced with a difficult decision of how to spend one hour tod...

A: The benefits that has been left by a person in order to do something else, is called the opportunity...

Q: How would the following changes in price affect total revenue? That is, would total revenue increase...

A: Elasticity of demand depicts how much consumer responds with the change in the price level. 

Q: A good has income elasticity of -0.9. Is this good normal or inferior?

A: Income elasticity of demand is defined as the degree of responsiveness of quantity demanded of a com...

Q: 1. The first Pepsi yields Craig 18 units of utility and the second yields nim an additional 12 units...

A: Marginal utility= total utility from next unit-total utility from previous unit

Q: Question Given the following cost function: TC = 1500 + 15Q – 6Q 2 + Q3 (a) Determine the total fixe...

A: Total cost is computed as the sum of total fixed costs and total variable costs incurred by the firm...

Q: An economist estimated that the cost function of a single-product firm isC(Q) = 100 + 20Q + 15 Q^2 +...

A: Total Cost is the cost that includes the fixed cost and variable cost of production. Cost function; ...

Q: Consider a person who can work up to 80 hours each week at a pretax wage of $20 per hour but faces a...

A: Given:  A person who can work up to 80 hours each week at a pretax wage of = $20 per hour Faces a co...

Q: Pearson Company manufactures a variety of electronic printed circuit boards (PCBS) that go into_ cel...

A: Comparing total costs of both options help Pearson company to decide whether to accept the outside s...

Q: How can foreign exchange rates impact a business positively? How can foreign exchange rates have a n...

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

Q: 3. Calculate real GDP (billion $) with a GDP deflator of 1.25 if the nominal GDP for the year has gr...

A: Nominal GDP: - it is the value of all final goods and services produced in any country in a given pe...

Q: “The costs of financing investment are related only tointerest rates; therefore, the only way that m...

A: The monetary policy is used by the central bank of the economy to maintain the financial health of t...

Q: Show as a diagram and explain the hierarchy of monetary policy objectives.

A: Monetary policy refers to the policies that the Central Bank undertakes to maintain the stability of...

Q: Give a detailed answer to the theoretical question: Display graphically and explain the phenomenon o...

A: Money illusion is a term that refers to the belief that money has a fixed value and it does not affe...

Q: Why monopoly firm earns abnormal profit in the long run?

A: Monopoly firm is the single seller of its product without any close substitute which gives monopoly ...

Q: Write the IS relation as Y=C(Y-T)+I(Y,r+x)+G. Suppose rn is 2%. If x increases from 3 to 5%, how mus...

A: The IS relation shows the relationship between the interest rate and total output when the goods mar...

Q: Perfectly competitive firm Doggies Paradise Inc. sells winter coats for dogs. Dog coats sell for $72...

A: Price of dog coats = P = $72 Fixed cost = TFC = $100 Total revenue = TR = P*Q Total cost = TC = TVC ...

Q: Economics Question

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

Q: Suppose Bella has $1000 to spend on watches and/or bracelets. Watches cost $30 each and bracelets co...

A: The total income = $1000 Price of watch = Pw = $30 Price of bracelets = Pb = $10 The budget line, 10...

Q: In 2012, the box industry was perfectly competitive. The lowest point on the long-run average cost c...

A: QD= 140000 - 10000P Qs= 80000 + 5000P Lowest point of average cost curve in long run $4. Quantity of...

Q: The bid price for a bond quote is: Answer a. Fixed over the life of a bond b. The price at which the...

A: The bond quote price is the last price at which the bond is traded in the market. It is generally ex...

Q: In 1972 the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The maximu...

A: We know that, FV = P(1 + i)n where, FV = Earnings in 2016 P = Earnings in 1972 n = number of years S...

Q: please Answer

A: Abnormal Profit: When the firm is earning its total revenue more than the total cost it incurs. It m...

Q: Why do people confuse correlation with causation

A: Correlation is a metric that calculates the degree to which two securities travel in relation to eac...

Q: Given TC = 100 + 60Q – 12Q2 + Q3, find: (a) The equations of the TVC, AVC, and MC functions. (b) The...

A: (a) TC=100+60Q-12Q2+Q3Now,TVC=Variable factor depends on Q=60Q-12Q2+Q3AVC=TVCQ=60Q-12Q2+Q3Q=60-12Q+Q...

Q: Consumer has the following utility function U (x, y) =x^1/2 × y^1/2, where the price of good x is 1T...

A: A buyer maximizes the utility from consumption by choosing the levels of x and y where the value of ...