Define the equilibrium of a market

Q: Assume you like to drive but dislike pollution (who says economists lackunderstanding of reality!).(...

A: The IC will be upward sloping because the consumer will have more of pollution (bad) if she/he gets ...

Q: Price elasticity of supply in the short run and long term

A: Price elasticity of supply is the responsiveness change in the quantity supplied of a product when t...

Q: What is the future worth of P600 deposited at the end of every month for 4 years if the interest rat...

A: The amount given is P600 in the economy and the interest rate is given to be 12 percent and the inte...

Q: 5. Draw a supply and demand curve for local fast food. A new Chick-fil-A, Chipotle, and McDonald's o...

A: The demand (dd) curve shows us the inverse/negative relation between the price(P) of the fast food t...

Q: Price per Ice-cream (Rs.)         Demand for Ice cream (Qd)   Supply for Ice cream (Qs) 140         ...

A: Equilibrium in economics is the state of stability and balance. Any deviation from this level will y...

Q: What relationship, if any, can you detect between the facts that farmers’ fixed costs of production ...

A: The law of supply established the quantity supplied of a good or service as a positive function of t...

Q: The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each co...

A: Because individuals have limited resources at their disposal, the problem of scarcity requires them ...

Q: (a)       Analyze the effects of imports on the domestic price and quantity, and the gains and losse...

A: A trade transaction in which two or more nations exchanges commodities, assets, and services beyond ...

Q: Which statement below is true of ONLY fiscal policy? Uses government expenditures to create demand...

A: The government uses two types of macroeconomics policy which are fiscal and monetary policy. The fis...

Q: Item Value (thousands of persons) Unemployed 11,777 Employed 145,407 Not in labor force 108,773 Pris...

A: Civilian labour includes individuals which are either employed or unemployed. Retired and military p...

Q: 6. Write down the formula for the binomial distribution. What do n, x, and n represent in the formul...

A: Binomial Distribution is the discrete probability distribution where outcome will be either success ...

Q: with explanations please, thankyou In a Mixed Specific Factors model with two sectors, Cars (C) and ...

A: If the government imposes a tariff on the imports of W then there will be an increase in the domesti...

Q: All MegaCorp employees who stay on the job for more than three years are rewarded with a 10 percent ...

A: Perfect information is considered a commodity and is important as it does not allow anyone to take a...

Q: the term "prdouct" refers to physical (i.e. tangible) goods rather than services. True or False? Why...

A: Usually, the term product refers to “a thing which is produced by a labor” or “effort or it is a res...

Q: Corn is a major input in both food production and ethanol production. During the mid-to-late 2000s, ...

A: If the Federal mandates increased the amount of ethanol in gasoline, it means that more ethanol will...

Q: Solve it early I upvote definitely.  Not copy paste answer provides

A: A market is called stable in which downward sloping demand curve and upward sloping supply curve int...

Q: Suppose a consumer’s utility function is given by U(X,Y) = X1/2*Y1/2.  Also, the consumer has $72 to...

A:

Q: After mining 9,273 tons of coal, Blue Sky Mining’s managers note that the marginal cost of mining th...

A: The total cost of producing one extra ton of coal is $75 (40+35). Total revenue received from sellin...

Q: You are the new Governor of State Bank of Pakistan after Reza Baqir.  For each of the situations lis...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: What are the “twin problems” of the health care industry as viewed by society? How are they related?

A: From an economic point of view, healthcare facilities are important for increasing the standard of l...

Q: A perfectly competitive firm has the following total cost function:                                 ...

A: Perfect competition refers to the market structure which features more number of sellers and buyers ...

Q: “The federal funds rate can never be above the discountrate.” Is this statement true, false, or unce...

A: True The federal fund rates can never be above the discount rate as in this transaction market, the ...

Q: We see quite a bit of international trade in the real world. And trade is driven by specialization. ...

A: Option C is correct Option C is correct because specialization in one commodity cannot occur, a coun...

Q: Use a demand-and-supply model to explain the impact of occupational segregation or “crowding” on the...

A: Occupational segregation is the distribution, based on demographic factors, most often gender, of wo...

Q: just answer b,c,d

A: The amount of goods that a consumer can purchase over a given period of time is limited by the consu...

Q: Collusive agreements can be established and maintained by: a. Credible threats. . b. One-time games....

A: Oligopoly is a market form which includes a few sellers and these sellers may form cartels and collu...

Q: 1.How has globalization had a major impact on countrys economy? 2.what is one of the core propostion...

A: Globalization is the process by which businesses start operating in an international scale. Also, gl...

Q: How do ethics rules affect auditors’ choice of clients?

A: The auditor in the company should follow ethics and rules as prescribed by the company. Ethics in g...

Q: What have been the major causes of the large U.S. trade deficits in recent years? What are the major...

A: "Since you have asked multiple questions. We will answer only first question for you. If you have an...

Q: When comparing the GDP of different countries, two issues immediately arise. What are these issues a...

A: GDP: Gross domestic product refers to the market value of all the commodities that are produced by t...

Q: With the aid of a diagram, show the effect of the following changes on the equilibrium price, quanti...

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: What are the answers for mixed and pure specific factor models? Are the answers for both (B. Owners ...

A: The factors of production are those factors which are used ands are essential for making the product...

Q: Solve parts d,e and f Jen from Thunder Bay consumes housing (H) and food (F). Her studentstipend is ...

A: We know, Jen’s utility-maximizing bundles are H*= 80 and F* = 200 Thus,  her utility level using the...

Q: A meal at a McDonald’s restaurant in New York costs $8. The identical meal at a McDonald’s restauran...

A: The Purchasing power parity (PPP) theory is an important international economic theory as it determi...

Q: Two goods have a cross-price elasticity of demand of 1.2: 05 i) Would you describe the nature of goo...

A: Elasticity refers to the responsiveness of quantity demanded to the change in price. Cross-elasticit...

Q: Draw a supply and demand curve for your favorite product. You get a massive raise at work, what happ...

A: Demand curve is a curve showing the quantity demanded by the consumer willing to buy at correspondin...

Q: Suppose that the government of China is currently fixing the exchange rate between the U.S. dollar a...

A: The rate of exchange refers to the value of a domestic currency expressed in terms of foreign curren...