Define the Gross national product (GNP). Please explain in two or more paragraph.

Q: Determine the profit-maximizing LOADING... prices when a firm faces two markets where the inverse…

A: Elasticity is an economic idea used to measure the adjustment of the aggregate quantity demanded of…

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A: Players: {A, B} Strategy of Player A: { I, II, III } Strategy of Player B: {1, 2, 3, 4}

Q: Use the model of small open economy to predict what would happen to the trade balance, and the real…

A: Net exports: Net exports can be find out as the total trade done in domestic countries and foreign…

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A: The labor force participation rate is an estimate of an economy's active workforce.

Q: The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the…

A: Gross Domestic Product refers to the total market value of all final items and services produced…

Q: 5. Calculating tax incidence Suppose that the U.S. government decides to charge beer producers a…

A: There are two types of taxes: Direct taxes, and indirect taxes. Taxes imposed on commodity comes…

Q: Supply and demand in the neoclassical economy Consider an economy in which the consumption,…

A: Introduction An economy is at equilibrium if product and output are the same as of national income.…

Q: If a monopoly faces an inverse demand curve of p=330 - Q. has a constant marginal and average cost…

A: We are given the inverse demand function of the monopolist:  P = 330 - Q Given the cost:  MC…

Q: What effect does migration and industrial development have on the economy and social behavior?

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 14) George Springer will make $5,000 monthly payments into his Canadian Retirement account. At…

A: Monthly payment to retirement account = 5000 In retirement, he will receive 10,000 per month for 15…

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A: ANSWER: (1).    Cigna, in my view, will afford to invest in education as the service grows in…

Q: please answer the question below as long as you can because this is an essay question. Define and…

A: The ratio of the percentage change in quantity demanded of a product to the percentage change in…

Q: True/False: Net exports = exports plus imports. True/False: The estimated market value of volunteer…

A: We know that Export can be defined as the total amount of commodities and services sold outside the…

Q: Use the Sales information above to answer this question. The value x = 19.801 should be used in the…

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Q: A good example of an oligopoly would be...

A: Oligopoly is used to portray a particular kind of serious climate. "Oligopoly" comes from the…

Q: Regulated firms Select one: Have less incentive than competitive firms to reduce costs All of the…

A: In the free market, the equilibrium price is determined by the forces of demabd and supply curve.…

Q: Behavioral economics assumes that people are Multiple Choice O O O O eager and able to estimate the…

A: Behavioral economics is one of the economy thoughts or approach to understand the nature of an…

Q: q2 how to draw the diagram for deadweight loss

A: Introduction Deadweight loss means misallocation of resources due to economic inefficiency. Economic…

Q: You are charged this tax by the federal government on your yearly pay. This is: Income Tax. Sales…

A: In the United States, federal government charges different types of taxes for different purposes…

Q: 1. Pedro made 24 payments of P200,000.00 each, and all payments are made at the beginning of each…

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Q: Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: (a) What are the endogenous variables in the labor market model? (b) Solve for the equilibrium…

A: ANSWER:  Given - Ls = 2w + 30               Ld = 60 - w (a).    The endogenous variables are the…

Q: Derive (again!) the LM curve from considering how income increases affect money demand.

A: LM curve is the liquidity preference curve or the curve representing the money market. LM curve…

Q: from sprinkler to drip (C to D and E to F). Assume a f are two pairs of almond production cost…

A: Optimal level of production is achieved at the point where marginal revenue equals marginal cost .…

Q: Q1 = (4310/22) - (P1/22)    Q2 = (5021/17) - (P2/17)    TC = 760 + 14Q1 + 32Q2    Form the profit…

A: Demand function shows the functional relationship between Quantity demanded for a commodity and its…

Q: True or false Indifference curves are upward sloping but may also contain flat areas if preference…

A: The ordinal utility analysis of Hicks and Allen is the foundation of the indifference curve. It…

Q: Have you ever driven by a poorly maintained business facility and wondered why the owner either fix…

A: Economic cost and accounting cost are distinct from one another. Explicit costs, or the actual money…

Q: 7.2. A consumer has a utility function u(x₁, x₂) = max{₁, 2}. What is the consumer's demand function…

A: The max function generally represent the combination of  2 or more then 2  which is not consume in…

Q: Kayla has 10 hours to pick erries, to catch trout, and to invest in a net. In the absence of…

A: In total there are 10 hours & also two options to choose from . Whether to invest in net or not…

Q: c. According to the principle of comparative advantage, what product should Japan export? What…

A: According to your request, we are providing the solutions only for subparts C, D and E. Comparative…

Q: 3 What is the total price of a boat with an original price of $12773, if it is sold at a 20%…

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Q: Apple Watch retailed for $399 in 2020, and firm was predicted to sell millions of units. The firm's…

A: Here, it is given that the Apple watch is sold for $3999 in 2020 with the firm's total cost of input…

Q: Elasticity - Example in class. P = 1.20, Q* = 4200. Move to P=1.60, Qd=3400, Qs=5000. What is the…

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Q: How will an increase in tourist arrivals affect the market for foreign exc Select one: O a. Inward…

A: Globalization The activity of global integration and collaboration of individuals, organizations,…

Q: Blake eats two bags of generic potato chips each day, and does not purchase any name-brand chips.…

A: Income elasticity of demand measures the responsiveness of quantity demanded with respect to change…

Q: Samson bought a new cutting  machine for P5,000,000.00. The machine could be sold for P50,000.00…

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Q: The slope is: 1.2 O indeterminate from this information O 2.5

A: Consumption refers to the use of goods and services to satisy wants. Disposable income refers to the…

Q: • The price of Coke (Pc) is $0.50/can. • The price of Pepsi (Pp) is $1.00/can. Based on his budget…

A: The utility preferences are perfect substitutes  MRS = (dU/dC)/ (dU/dP)  MRS = 2/3 relative price…

Q: Suppose that the government decides to charge cola consumers an excise tax. Before the tax, 12…

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Q: At a particular job, workers' wages are linear and based on years of experience. You ask two workers…

A: Minimum wages have been explained as the least amount of remuneration that an employer is needed to…

Q: Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or…

A: Comparative advantage arises when the countries or the individuals involved in the trade would not…

Q: Chuck and Diane are both currently consuming 15 apples and 3 bananas each week, which we can call…

A: In financial matters, the marginal rate of substitution (MRS) is the rate at which a buyer can…

Q: Was demand for its products more elastic or inelastic and why? Were consumers well informed of the…

A: ▪︎The law of demand states that as a good or service's price increases, demand for that good or…

Q: Rhea is determining how many gallons of milk (M) and loaves of bread (B) to purchase. Use the…

A: Consumer utility is derived by the consumption of goods and services with given level of income and…

Q: The following graph shows the daily market for wine. Suppose the government institutes a tax of…

A: Supply and demand, in economics, is the connection between the quantity of a commodity that…

Q: If the velocity of money is constant, money supply increases by 5%, output growth rate is 3%, and…

A: Here, given information is: Money supply rises by 5 with constant velocity. Output growth rate is…

Q: How countertrade can overcome currency control and exchange problem. Please provide Example(s) to…

A: Trade agreements are agreements between two or more countries to promote the free flow of…

Q: Explain why each of the following statements is True, False, or Uncertain according to economic…

A: Demand refers to the quantity of the goods demanded by the consumers at a given price during a given…

Q: Explain why each of the following statements is True, False, or Uncertain according to economic…

A: In the first part, as the marginal cost curve is the supply curve for the firm as well. Hence…

Q: Sarah has a 2009 Honda Civic. In​ 2013, she sells it to Mary for​ $10,000.   Is that​ $10,000…

A: GDP refers to the final goods and services produced in an economy during a particular period of…