Diplomat A is a person that represents their country in meetings with another country. Ambassador

Q: 1. Predict the impact on equilibrium price and quantity for the relevant market given the following ...

A: A change in a factor that influences demand or supply other than the own price of the commodity lead...

Q: LUCIA: Let me ask you a question to see if you can apply your knowledge. Consider an economy with 15...

A: Labor force  includes all those who have been working presently and those who are searching for jobs...

Q: Table 2-9   One Canoe One Sailboat Guatemala     10 hours      60 hours Honduras...

A: Comparative advantage will drive the nations to specialize in the production of the goods for which ...

Q: Q1. Draw a circular flow diagrm. Identify the parts of model that corresponds to flow of goods and s...

A: The circular-flow diagram (or circular-flow model) is a graphical representation of the movement of ...

Q: Compare and contrast human capital, H, and physical capital, K. How is H different from labour, L?

A: Physical capital refers to a factor of production or input in the production process. A well-skilled...

Q: A firm’s cost equation is given by TC = 200 + 10Q.  The price elasticity of demand is -2.  What is t...

A: Given, Price elasticity of demand (Pe) = -2 TC = 200 + 10Q   

Q: Discuss which of the following fall into the categories of consumption, investment, government expen...

A: To know in which category each option falls: a) Buying a second hand book isn't involved in the esti...

Q: The government places a price ceiling in this market. Assume that the price ceiling is set such that...

A: Consumer surplus is the area below the demand curve and above the price. 

Q: Ernie’s preferences for apples (qa) and bananas (qb) are captured by the utility functionU(qa, qb) =...

A: Two goods are said to be the perfect substitute when MRS between them is constant. It means the cons...

Q: Since 2019, the price of lithium in China has been falling (and it is predicted to continue falling ...

A: The law of demand refers to the inverse relationship between price and quantity demanded (other fact...

Q: To make sure he has enough energy for the teaching, Ernie spares $60 every week tospend on Blue Bull...

A: Given: Budget, M = $60 every week Price of Blue Bull (Px) = $2, Price of Gigantic (Py) = $3

Q: At a student café, there are equal numbers of two types of customers with the following values. The ...

A: Consumer will buy the goods when the price is equal to or less than their willing price. The willing...

Q: Question 4 of 18 > A farmer produces both beans and corn on her farm. If she must give up 16 bushels...

A: This question is of the concept given by David Ricardo of Comparative cost advantage in which the op...

Q: > Why might your initial elasticity (PED) and (PES) calculations be unreliable?

A: The initial elasticity (PED) and (PES) calculations are unreliable.

Q: An arithmetic cash flow gradient series equals $500 in year 1, $600 in year 2, and amounts increasin...

A:   A policy is a decision made by government/entity to either act, or not act in order to resolve a p...

Q: Change comunues touay, anu IT IS expecitu w CoiL that big discount stores are driving the small, fam...

A: According to the law of demand there exists an inverse price quantity relationship indicating that a...

Q: What information should a buyer gather about a supplier before entering anegotiation?

A: Gathering information regarding supplier is very important for entering a negotiation or in a deal. ...

Q: the following question in the image provided

A:  (i) Gross national product at market price = wages and salaries+ social security contributions by e...

Q: In which situation can the simple money multiplier value equal that of the extended money multiplier...

A: Multiplier refers to the situation where the number of times the level of income increases due to in...

Q: Draw the price effect and the quantity effect fora price change from $60 to $70. Which effect islarg...

A:   Meaning of Price Elasticity of Demand and Price Elasticity of Supply: The extent of the change of ...

Q: Suppose you are attempting to choose a measure of living standards within a particular region. Discu...

A: Standard of living is the level of comfort, necessities, material goods, and wealth available to the...

Q: What are positive and negative externalities, hint the ( causes, effects and the remedies.)

A: An externality is present whenever some economic agents' welfare (utility or profit) is directly aff...

Q: Analyze Singapore’s balance of payments to examine the economic importance of changes in net foreign...

A: The covid 19 has brought a negative impact on country S's BOP. The BOP records the country's trade a...

Q: Make sure the inflation rate and the table are correct. Thanks.

A:

Q: Calculate price elasticity of demand using the mid-point method.

A:

Q: Why is it reasonable to think of normal profit as a type of cost to the firm?

A: In the short run, firms usually try to temporarily shut down their operations when the prices are no...

Q: 4. Measuring GDP The following table shows data on consumption, investments, exports, imports, a...

A: The net export of Goods and Services means the country's total export minus total import. That is,  ...

Q: Z and S.A are trading partners.  Both produce metal ores (including lithium) and delivery trucks. No...

A: A country has a Comparative advantage when the opportunity cost (OC) of producing a good or service ...

Q: Suppose a Farmer has a fixed resource of 80 acres planted in corn. If the farmer does not cultivate ...

A: Number of cultivation Output Marginal benefit 1 50 - 2 57 7 3 61 4 4 63 2 From the above ...

Q: Briefly explain the following: (1). Problems of Marketing in developing Economies.  a). Lack or Inad...

A:   Meaning of Marketing Strategy: Marketing strategy is the managerial process of developing or creat...

Q: How do you feel that business cycles and the health of the economy affect the value of your labor?

A: ANS Business cycles comprise of two phases namely a phase of expansion and a phase of contraction. D...

Q: Q.1.7 If the marginal propensity to consume increases: (2)(1) The slope of the consumption function ...

A: Answer - Marginal propensity to consume -  the marginal propensity to consume (MPC) is defined as th...

Q: For a country A, the nominal GDP growth rate is 10 percent and inflation is 4 percent. If the veloci...

A:   According to QTM (Quantity theory of money), it is an identity showing relationship between output...

Q: Discuss pros and cons of having government involved in providing and/or paying for health care.  If ...

A: Pros Of Having the Government Involved in Healthcare: Government can provide universal healthcare s...

Q: Consumption = 115 + 0.6YInvestment = 550Use the above information to answer the questions that follo...

A: Aggregate expenditure is a measure of national income of an economy that considers the sum of all ex...

Q: Compare marginal revenue, marginal cost, and marginal revenue product.

A: The concepts of marginal revenue, marginal cost and the marginal revenue product are used by the pro...

Q: A firm faces the demand curve: P = 800 - 25Q. What is the firm’s revenue maximizing price? Enter as ...

A: Revenue is an important economic concept that refers to the amount of income that a firm receives fr...

Q: BAD Enterprises is considering increasing the price of its harmonicas, currently $20, by25 per cent....

A: Price Elasticity of demand (PED) is the ratio between the % change in quantity demanded and the % ch...

Q: Explain why a binding price ceiling on a good is likely to cause misallocation of the consumption of...

A:   Meaning of Price Ceiling: The price ceiling refers to a limit or price control over high prices ch...

Q: (this is the complete question)  The reason why most efficient firms in a Melitz industry make great...

A: Free Trade: The term free trade refers to the trade without restrictions and it is the opposite of p...