Explain the relationship between output and income for both an individual and an entire economy.

Q: Please help!

A: 1.Total manufacturing time:Total manufacturing time can be calculated as follows:

Q: Lou's preferences over pizza (X) and other goods (y) are given by U(X,Y)=XY^2 with associated margin...

A: Utility:The utility is the power or capacity of the goods and services to satisfy human wants, it is...

Q: Suppose pessimism about the future makes household consumption plummet. How would this affect the AD...

A: Here, it is given that there is a sudden decline in the household consumption level as a result of a...

Q: please help

A: Marginal Product:Marginal product refers to the change in output due to the change in inputs. Altern...

Q: Dell and Sony compete primarily by price. Each firm must choose either a high price or a low price s...

A: (a):Pay-off matrix of Sony and Dell is give below.

Q: Draw the supply and demand curves based on the following market data  price .    quantiy demand.   ...

A: Meaning of Demand:Demand for the goods and services refers to the quantity which is the consumer is ...

Q: What is the equal-payment series for 10 years that is equivalent to a payment series starting with $...

A: The first step is to compute the total present value of cashflows for 10 years which is decreasing e...

Q: 3. We often work with production technologies that give rise to initially increasing marginal produc...

A: Marginal product of labour is the change in output obtained by hiring one additional labour unit kee...

Q: A product has demand given by Q = 30 – 2P, where P here means buyer price of course. Supply is given...

A: Here, we see that the price that the sellers are willing to sell is at P. At each level of price, th...

Q: Lou’s preferences over pizza (x) and other goods (y) are given by U(x, y) = 2xy2. His income is $200...

A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the que...

Q: Additional questions:The labor cost per day of hiring two workers is $_____?The total cost per day w...

A: Fixed costs are the costs that do not vary with the level of output. Rent, interest payments, etc. a...

Q: what are some of the technical advantages that a firm can benefit from selling their products on Ama...

A: Amazon:Amazon is an international market place which selling their goods and services in different c...

Q: In 2013, Prussia's aggregate demand curve was determined by the equation M + 1-4% A change in aggreg...

A: The quantity theory of money:The quantity theory of money equation can be written as follows:

Q: If a trader wanted to exchange 50 Gulps for Flops, how many Flops would she get?

A: Here, the trader is exhanging one commodity for the other.

Q: a1. You learn on the business channel that inflation was about 0.8% last month.  Assume this rate is...

A: Since you have not mentioned which question have to answer. So, I am answering question “a1”.

Q: You are a profit-maximizing firm. Suppose there are two types of customers (50% of 1 type, 50% of th...

A: The given information:Marginal cost per coat is $30Marginal cost per pair of pants is $50 Table -1 s...

Q: What is the value of the monetary base, given that the value of deposits at all depository instituti...

A:  Monetary base:Monetary base can be calculated as follows:

Q: 7) Explain the slopes of the supply and demand curves in the federal funds market.  Show and explain...

A: Federal fund rate: It is the interest rate at which banks and other depository institutions lend to ...

Q: What is an isoprofit line? What is a factor demand curve?

A: The iso-profit line indicates the same amount of profit that produces by different combinations. In ...

Q: Samantha Roberts has a job as a pharmacist earning $30,000 per year, and she is deciding whether to ...

A: (a)The business and economic profit:Business profit and economic profit can be calculated as follows...

Q: Suppose the demand function for widgets is Q(p) = 60 – p, and all firms that produce widgets have to...

A: We are given the demand function for widgets as Q(p) = 60 – pAnd, the cost function is given as C(q)...

Q: If the price level doubled and someone wanted to maintain the same level of purchasing power, the no...

A:  Nominal quantity of money demanded:When the price level is doubled in the market, if someone wants ...

Q: At an interest rate of 10%, what is the present value of an asset that produces $1,000 a year in per...

A: Suppose that you own a perpetual asset that promises to pay you $1000 a year with a 10% return is . ...

Q: 8. Why can the distinction between fixed costs and variable costs be made in the short run? Classify...

A: Fixed costs and variable costs:Fixed costs are the costs which do not change with the level of outpu...

Q: please help

A: Production technologies or production function defines a relationship between the output and inputs....

Q: 6. A government can target its exchange rate only if it:   A) increases the amount of unce...

A: Fiscal Policy: fiscal policy is the tool in the hands of government of a country through which it us...

Q: Suppose the accompanying graph depicts a monopolistically competitive firm earning positive economic...

A: It is given that the following graph belongs to a monopolistically competitive market that earns a p...

Q: Housing prices have been increasing in much of the U.S.  For most people, their home is their single...

A: It is given that housing prices are increasing in US. Let us first discuss the determination of hous...

Q: does the Fed regulate money to influence the interest rates?

A: Federal Reserve is the central bank of United States. It is the apex bank and the regulator of finan...

Q: If the Marginal Propensity to Consume (MPC) is .90, estimate the total (multiplied) effect of govern...

A: Multiplier:Multiplier can be calculated as follows:

Q: how do you do question 2

A: It is given that,The above table depicts the demand and cost structures of foreign language translat...

Q: The graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (A...

A: We can see that one of the axis we see the cost and profit is given, the verticle axis.Here, the cur...

Q: how would you answer

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: 1. Marty's Frozen Yogurt is a small shop that sells cups of frozen yogurt in a university town. Mart...

A: a.Fixed input:Fixed input refers the quantity do not change as quantity of output changes, which is ...

Q: In the US in 2008, several large banks collapsed when risky financial investments began to fail. Des...

A: The U.S. in 2008 suffered from the great financial crisis where several U.S. banks were collapsed du...

Q: Does the fact that your bank keeps only a fraction of your account balance in reserve worry you? Why...

A: Step 1The bank is a financial institution that focuses on accepting the deposit and making progress ...

Q: explain IET(International Economic Transactions) cycles as a factor modifying the limits of state re...

A: STEP 1In economics, the term IET (International Economic Transactions) refers to the transfer of com...

Q: I need help with principles of microeconomics chapter 10 problem 6 please help

A: We have been given the price and quantity schedule as follows:

Q: Part I: You are advising company ABC on its merger and acquisition case. The buyer company offers AB...

A: Suppose ABC company is going to merge with company ‘X’ (my company) where company X offers two merge...

Q: Your firm has a new strategy that will make its established product obsolete.  However, it will take...

A: There are many type of consumers are there in the economy. Some will buy the product at the time of ...

Q: The Federal Budget Ask FRED ALFRED I The accompanying graph contains data on U.S. federal government...

A: As can be seen from the graph, spending as a percent of GDP for year 2016 is 38%