Explain the role of science in policymaking

Q: In penalty shoot-outs, the Nash Equilibrium strategies of goalies and players depend on how importan...

A: TRUE. The players will still try to equate his expected utility from each strategy given the other p...

Q: In the context of regional trade integration, concern about arise because close economic integration...

A: There are different types of integration present, economic integration is of three types: 1-Free tra...

Q: Imagine a smartphone company has the following costs when they produce 200 phones: $50 in average fi...

A: When some product is manufactured, cost  takes place and process of business gets accelerated. Busin...

Q: Suppose that the demand function for Brand X is P = 360- 50Qd. Show whether going from 3 to 4 units ...

A: Demand Equation: P=360-50Qd Price elasticity measures the percentage change in the quantity demanded...

Q: Question 19

A: a) In order to determine the equilibrium quantity, we need to determine the market demand and market...

Q: In the productivity curve figure, the impact of eduction and training that increases workers' human ...

A: The answer is - B. a shift from A to B

Q: Output Total Fixed Cost Total Variable Cost $9 $0 1 $9 $5 $8 $9 $9 $10 4 $9 $11 $9 $12 dollars. The ...

A: Total variable cost increases with increase in production and fixed cost is independent of output.

Q: A firm faces the market demand curve: P=90-Q/4 where P = price and Q = output The firm has the total...

A: Given:P=90-Q4TC=1/4Q2-6Q+40 Now,TR=P×QTR=90-Q4×QTR=90Q-Q24  

Q: An airport is located next to a banana farm. The airport can fly X planes per day, but the burning f...

A: In question it is stated that the airline creates pollution and the banana industry is affected by p...

Q: Candy is a Year 4 full-time undergraduate student majoring in marketing at a private university in H...

A: Answers - 1  Opportunity Cost : The benefits that a person, an investor, or a corporation may miss o...

Q: Exchange Rate Determination - Short v. Long Run The nominal money demand for the US is given by the ...

A: Given information Interest rate in US=5.263% Calculated value from part Vi) Demand for Bond Q=100-5P...

Q: Super Tennis Co is in the business of designing and manufacturing running shoes for long distance ru...

A: 1. The process of licensing is quite a complex one. It varies from economy to economy. Developing ec...

Q: Suppose government regulates the price of beef and sets it below the market clearing price. Explain ...

A: Price floor:- Some commodities are subject to price floors, which set a minimum price for them. They...

Q: Your Subaru Outback broke down. It has 110,000 miles and is paid off. You take it to the dealership ...

A: If the Subaru outback broke down and it has run 110000 miles then it implies the Subaru has left wit...

Q: Price Supply $ 300.00 $ 275.00 $ 250.00 $ 225.00 $ 200.00 $ 175.00 $ 150.00 $ 125.00 $ 100.00 $ 75.0...

A: Given: New price P2=$200 Old Price P1=$225 New quantity Q2=300 Old quantity Q1=350

Q: Enumerate some (a) advantages and (b) disadvantages of learning the concept of demand and concept of...

A: Evolution of money has been of great importance to the world. Since the ages and currently money is ...

Q: QUESTION 8 The nearest and largest trading partner with the United States is: OA. Canada. B. Mexico ...

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

Q: Consider a competitive, price-taking firm that employs only one variable input, labor, to produce a ...

A: In perfect competition, many buyers and sellers are selling homogenous products. In this market, the...

Q: dentify the effect of recession in the economy on either demand or supply curve and the equilibruim ...

A: A recession is a situation where economic activities taking place in a country decreases and causes ...

Q: A production function is given by q=4L^( 2/3) k^ ('/?) where L = labour, k = capital. (a) Find behav...

A: The change in the total output when one additional unit of input is added, is known as the marginal ...

Q: Some people try to make money by watching exchange rates and trying to get the best deal on their tr...

A: The rate that depicts the rate at which one currency is being exchanged for another currency is know...

Q: What effect will the imposition of a 37% tax on economic profit have on a monopoly’s price and outpu...

A:

Q: All of the following are determinants of demand except

A: To find : Which is not determinants of demand. 

Q: The actual unemployment rate is composed of three types. Identify each type and explain whether the ...

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

Q: Valair is an airline flying a particular route that has seasonal demand. The firm's total demand is ...

A: On the off chance that the carrier charges similar costs in each market, we get the benefit expansio...

Q: Refer to the information provided in Figure 14.1 below to answer the question(s) that follow. Demand...

A: The correct answer is given in the second step.

Q: ick on the items on the left to read a description. Then, drag each item to the correct implication ...

A: The government takes several measures in order to enhance the export and overall trade of an economy...

Q: Describe four ways in which critics hold that neoclassical economic approaches can worsen environmen...

A: Neoclassical economics is a collection of economic strategies that concentrate on deciding the distr...

Q: The popularity of the leader of a nation can affect the value of their currency. If the President of...

A: Exchange rate refers to the value of the domestic currency measured in terms of a foreign currency. ...

Q: Jayden was recently hired for a job with an annual income of $36,000.  Using the federal income rate...

A: * SOLUTION :-   

Q: You have been commissioned to estimate the demand curve for admission to Lake Saint- Michel, a recre...

A: The consumer surplus is the difference between the expected consumer expenditure and the actual expe...

Q: O pts.) a. Define price elasticity of demand. b. At a price of $7, the quantity demanded for ice cre...

A: Elasticity of demand is the percentage change in quantity demanded due to percentage change in price...

Q: If the demand for a good is inelastic, an increase in the price of the good will cause the total exp...

A: To find : Total expenditure of consumer of the good. 

Q: In 2002, a meeting is hold in a state-owned farm with one million mu of arable land—B farm after the...

A: Managerial economics is a branch of economics concerned with the use of economic methods in manageri...

Q: Which of the following is not an explanation for the wage gap between workers with college education...

A: 1. The pay gap between men and women is the average difference in remuneration for working people wi...

Q: Suppose the demand functions facing the wireless telephone monopolist In Worked-Out Problem 18.4 (pa...

A: Demand functions are QDL=40-50P for each low demand consumer and QDH=200-50P for each high demand co...

Q: 7. The demand curve for labor shows what? a. The demand for labor is immune to wage pressures. b. ...

A: "Correct option is b."

Q: There are many ways to define and measure the benefits and costs that go into the GPI. How do you th...

A: A biocentrist considers the whole influence of actions on living creatures, both human and nonhuman....

Q: Suppose the price reaction function for Mars' chocolate bars is Pm = (Vm+cm)/2)+0.5Ph, where Pm is t...

A: Price reaction function for Mars chocolate is:- Pm = (Vm +Cm)/2) + 0.5Ph Price reaction function for...

Q: Suppose that the price of basketball tickets at the college is determined by market forces. Currentl...

A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be...

Q: In a simple model without government spending or taxation, if C = a +bY where C is consumer spending...

A: The consumption function depicts the functional relationship between consumption and level of income...

Q: Assume that people will spend $0.60 of every extra dollar they earn. Further assume that the real in...

A: According to the question, "people spend $0.60 of every extra dollar they earn" this means marginal ...

Q: SRATC or small plant SRATC tor medium plant SRATC for arge plant LRATC S500 Diseconomies of Scale S4...

A: Costs in the long run are determined by the firm's level of output, factor costs, and the quantities...

Q: Last year 1000 galone of amond ma non dairy produt were soldprice of S0 Y yearabad harvestin Caomia ...

A: Given: Quantity of almond milk=1000 gallons Price=$10

Q: If $1 USD = $1.09 CAD (Canadian dollar), which country has a stronger currency today? How do you kno...

A: Macroeconomics is important for a country and so is microeconomics an important part of people's liv...

Q: The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame ...

A: When a linear function is subjected to many constraints, linear programming, a mathematical modeling...

Q: 23. Can the government bring about an efficient outcome by imposing a price ceiling on a monopoly? E...

A: Answer: A monopolist maximizes its profit by selling the quantity where the marginal revenue (MR) an...

Q: 3. Which of the following must be included in an organization’s statement of accounting profits for ...

A: At the marketplace, an organization maintains variously financial statements to evaluate its perform...

Q: 5. Provide rationale for deductibles and copayments. What is the effect of deductibles and copayment...

A: For taking some service for example if an individual wanted to take some insurance then they need to...

Q: a. Draw a Lorenz curve for an economy comprising of unemployed (with zero income), workers and emplo...

A: Lorenz curve is a graphical representation of wealth distribution in a society. It represents how un...