explain the three approaches to measuring GDP and why do they give the same

Q: If a firm's average total cost remains constant as output grows, the firm has constant returns to…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: A businessperson produces two distinct products, Q1 and Q2, using two different production methods.…

A: Prices become stable when market supply and demand are balanced. This is referred to as equilibrium.…

Q: Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities…

A: "In economics a production possibility frontier represents the different combination of the two…

Q: If the production of computers increases from point P to point S, what is the opportunity cost in…

A: Opportunity cost is the loss of potential increase from different options when one option is picked.

Q: Given the production function y=(ip - Kp )1/p , what is the technical rate of substitution, the…

A: Introduction Production function An equation in economics that describes the relationship between…

Q: The demand curve P=120-Q is what a monopolist deals with. The marginal cost and marginal product…

A: A visual illustration of the connection between product pricing and demand-side quantity. The graph…

Q: Please do it in 10 minutes will upvote

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain the concept of opportunity costs and provide at least two real world examples illustrating…

A: The opportunity cost is the next best alternate which is given up.

Q: The demand function Qd = 8 - 2P yields an equilibrium price of $4 and an equilibrium quantity of 4.…

A: Given information: Qd = 8 - 2P -------> Demand function. Where Qd is quantity demanded P is price…

Q: You have the following annual figures for the New Zealand economy.             Investment…

A: Increase of investment is includes the increment of plants in equipment's in the economy and…

Q: J8

A: The sampling method is a technique in which all the elements of population has the equal chance to…

Q: Marginal Revenue Product = 40 - Q/10. The cost of Labor WL = 15. The production function is Q = 25L.…

A: Given information: MRP = 40 - (Q/10) ------> Marginal revenue product  Q = 25L ----------->…

Q: As an employer, you can minimize discrimination based on implicit bias when hiring employees if you…

A: Many companies desire to foster an inclusive culture, but could unconscious bias be getting in the…

Q: Consider the following information on money supply in South Africa: rr = required reserve…

A: Money supply depends on the reserve ratio. The rise in reserve ratio leads to fall in the money…

Q: (a) An existing machine In a factory has an annual maintenance cost of RM 40,000. A new and more…

A: Since you have posted multiple Questions, as per guidelines we can solve only one question per…

Q: Please do it in 10 minutes will upvote I

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

Q: 3. Effects of a government budget deficit Consider a hypothetical open economy. The following table…

A: Real Interest Rate National Saving (Supply) Domestic Investment (Demand) 7 60 30 6 55 40 5 50…

Q: several sources of literature review for scientific research and explain the importance of each…

A: Several sources of literature are reviewed for scientific research and explain the importance of…

Q: Three ducks, Huey, Dewey, and Louie, are squawking about how big of a pond they should purchase…

A: Given,  Three Ducks : Huey, Dewey and LouisThe demand curve of Huey anf Louie are :Huey :…

Q: If bundle A is weakly preferred to bundle B,bundle B is strictly preferred to bun dle C, and bundle…

A: A Bundle(X,Y)  is weakly preferred means Bundle X is as least as good as bundle Y, on the other a…

Q: Making use of a diagram, explain when a monopoly corporation maximises its profit.

A: Competition: Whenever a market has many firms, there will typically be competition between them. The…

Q: A sales tax is imposed on the market for good H. Refer to the demand curve before the sales tax is…

A: The initial demand and supply curves are D1 and S respectively.  Equilibrium in the market occurs at…

Q: Suppose students in Business Economics course have the following demand for an Economics textbook:…

A: Given the quantity demand, Qd=440-2p and the quantity supply, Qs=-40+4p

Q: A piece of equipment that was purchased 2 years ago by Toshiba Imaging for $50,000 was expected to…

A: In a replacement study, the existing hardware or asset that has to be replaced is referred to as the…

Q: Assuming that increase in investment is rs1000 crore and marginal propensity to consume is 0.9 then…

A: Any increase in expenditure on investment  has a more than proportionately favourable effect on…

Q: Explain the characteristics of monopolistic competition . What are the advantages of this market…

A: The measure that depicts the way in which the classification and differentiation of products and…

Q: CASE STUDY - ERGONOMICS Read the case and answer the questions given below: At Deere and Company,…

A: Healthcare Compensation:- Healthcare compensation includes any initial arbitrary representatives…

Q: Explain why in the long run perfect competitive firms can only break even.

A: Perfect competition refers to the market where homogeneous products are produced. An individual firm…

Q: Suppose a monopolist sets output and lets the market determine the price. Given the monopolist's…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: a. b. Consider the following game G: A B 4, -4 7,-7 8,-8 6,-6 X Y Is there a pure Nash equilibrium…

A: When Player 1 plays X, player 2 have the following strategies to play and their corresponding…

Q: When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: A firm in a competitive industry has the following cost function: c(y) = y3/3-20y2 +310y. (Note that…

A: A cost function is a function of input costs and output amount whose value is the cost of making…

Q: e) Consider the case that the developer of the App wants to maximize the overall welfare and not…

A:

Q: Difference between short and long run energy demand.

A: The responsiveness of a goods supply or demand to a change in price is measured by price elasticity.…

Q: The table below shows the percentage change in quantity demanded of sending regular mail, of ending…

A: Price Elasticity is a proportion of how unequivocally purchasers respond to changes in cost. Your…

Q: Exercise 2. Consider the mixed extension of the 2-person game defined by the payoff- matrices ^ - (…

A: Game theory includes Nash equilibrium. It means that if there are two players in the economy and…

Q: PPLY FOR RICE rice D O Quantity Supplied (Qs) 200 100 tion if price per sack of rice is at P 3,000?…

A: *Answer: a) Supply Function shows the relationship between the quantity supplied and the price of…

Q: Problem Solving: Copy the questions and analyze the following demand problem. Emphasize the answers…

A: Supply refers to the quantity that a consumer wishes to produce at a given price in a given period…

Q: III. PROBLEM SOLVING: Lino Batumbakal is now exploring the option to start selling beef wellington.…

A: Demand refers to the quantity that a consumer wishes to buy at a given price in a given period of…

Q: When the Covid-19 pandemic hit along with the associated shut-downs, what happened to AD (ignoring…

A: Please find the answer below.   SHUT-DOWNS: A shutdown point is a level of operations at which a…

Q: Question 3 Suppose two individuals, A and B, consume two goods (x₁, x₂). A's initial endowment is…

A: i. Given below is the Edgeworth box. The Y-axis depicts the quantity of good x2. The X-axis depicts…

Q: What is Present-Worth Analysis?

A: Economic equivalence is a combination of interest rate and time value of money that determines the…

Q: Using the data above, graph properly and with proper labels the Market Equilibrium of Lito…

A: Equilibrium occurs at such a price where the quantity demanded equals the quantity supplied.

Q: II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis…

A: Total production frontier denotes the relationship between number of workers and total quantity…

Q: II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis…

A: Plotting the workers on horizontal axis and total production of the vertical axis, the graph is…

Q: Luis are new Engineering student at SDSU; his Unde left him $600,00. He has been decided to put it…

A: Here, it is given that Luis has $600,000 and he has decided to invest in savings account for an…

Q: John deposits $1,800 into his checking account. If the reserve ratio is 10%, what are the required…

A: When an individual puts his deposit into hie bank account, his money is further used by bank as an…

Q: The price elasticity of supply is more likely to be Select one: High if it is calculated over a…

A: Price elasticity of supply measures the responsiveness in quantity supplied of a commodity to a…

Q: 5.

A: Given Information: Elasticity of demand for firm's Product = -3 Advertising elasticity of demand =…

Q: (a) There are two companies in the world that produce large passenger aircraft, Boeing, and Airbus.…

A: The market is a location where the transaction of services and commodities takes place. It is…