Factors of Production Innovation and physical capital are two of the four factors of production. Analyze specific ways that 1 of the following laws increased the productivity of innovation and physical capital: 1862 Pacific Railway Act 1956 Federal Aid Highway Act 1946 Federal Airport Act Now that you have considered how a law can increase the productivity of innovation and physical capital, address the following: - Describe 3 other examples of economic concentration - What are the risks and advantages to economic concentration? - How has economic concentration influenced your industry?

Q: Slacks and jackets are two complementary goods, find the market equilibrium price and quantity form…

A: Complementary goods are products or services that are consumed or used together, typically in such a…

Q: Southern Wear stock has an expected return of 15.1 percent. The stock is expected to lose 8 percent…

A: Given,The probabilities of a recession, a normal economy, and a boom are , , and , respectively.

Q: John can cause an accident, which entails a monetary loss of $1000 to Jane. The likelihood of the…

A: Tort law is a branch of civil law that deals with personal injuries, civil wrongs, and liabilities…

Q: Suppose that the perfectly competitive firm with the costs and revenues shown in the figure to the…

A: A perfectly competitive seller  is known as a price taker because the presence of a large number of…

Q: Navigate and make notes on the following National income Subtopics: Reasons for studying national…

A: A country's national income is a complete indicator of the economic activity that has taken place…

Q: Why is having knowledge of graphing and basic algebra or essential for your understanding of…

A: Understanding macroeconomics requires a solid grasp of graphing and basic algebra. These…

Q: For each of the below production functions, find the minimum cost of producing 2 units of output…

A: The input prices for producing 2 units of output are given as 2 and 5. Minimum cost needs to be…

Q: The real exchange rate is:

A: The real exchange rate is the rate at which a person can trade the goods and services of one country…

Q: Click here for the Excel Data File a. Determine a linear trend line for expected freight car…

A: Given,Freight car loadings over an 18-week period at a busy port are as…

Q: When asked "What is the most urgent question in economics?", most economists disagree on what is…

A: Statement 4 is the correct answer that many economists emphasized the importance of knowing how…

Q: Evaluate the social economic welfare changes arising from a government tax on production of…

A: ***The question has been solved in a general way with the given information.***Elasticity has…

Q: Assume that Home and Foreign produce two goods, TVs and cars, and use the information below to…

A: MPL refers to a firm's rise in total production when one more unit of labor is added , keeping all…

Q: In an IS-LM model, consider a policymaker who wants to implement an expansion- ary fiscal policy to…

A: The IS-LM model represents the interaction of the goods market (represented by the IS curve) and the…

Q: This is part of a series of questions on the market for yellow bell peppers. The following table may…

A: The given table represents the quantity supplied and demanded of yellow bell peppers in the price…

Q: Suppose market demand for oil is Q(P)-5-0.125P where Q is billions of barrels (BBL) or oil per year…

A:

Q: What is the consumer surplus in the market equilibrium? Again, the equations are: Q = 3P-90 Qd = 400…

A: When customers pay less for a good or service than they would be willing to, this is known as a…

Q: n the context of health care, the economic questions that must be answered are ___ to treat, when to…

A: The resources are limited and demands are unlimited. Economic problems arise due to problem of…

Q: Mr Johnson spends R60 in the morning on Gautrain from Centurion to Sandton. In the afterno same trip…

A: Elasticity concepts depict the change in behavior of consumers and sellers due to changes in price…

Q: 3. Use the data table to answer the question that follows: Year Nominal GDP GDP Deflator 160 175 1 2…

A: Real GDP refers to the value of economic activities measured at the constant prices. It is the…

Q: 2. Ten countries are considering fighting global warming by entering into an agreement. Under the…

A: Ten nations are contemplating combatting global warming through a collective pact.Within this…

Q: How should Improvements and Betterments made to a Condominium Unit by its owner be insured? OA)…

A: Unit Owners Comprehensive Policy provides coverage for various aspects related to a condominium…

Q: The diagrams show movements from position X to Y on production possibility frontiers. which one of…

A: PPF stands for the production possibility frontier. It is a graphical representation of all possible…

Q: At zero distance sprinted, your recovery time is zero. As you sprint further (x), your recovery time…

A: In economics, recovery time typically refers to the period it takes for an economy to return to its…

Q: Assume the short-run aggregate supply curve can be expressed algebraically as: Y = 4,500 + 3,000π…

A: Short-run aggregate supply: Y = 4500 + 3000π Aggregate demand: Y = 5000 - 1000πWhere Y is output and…

Q: The figure below is a slightly-modified version of the circular flow diagram from Chapter 5. The…

A: The circular flow model is a simplified economic representation that illustrates how money, goods,…

Q: Q1: (Regulation under uncertainty, adapted version of textbook question 15.3) Suppose there is a 50%…

A: The unintended cost or benefit of economic activity on parties not directly involved in that…

Q: Normal Form Game: The table below provides a normal form, 2 x 2 game. The players are Column and…

A: The table below highlights the pay-off values for the players and the strategies adopted by them.…

Q: A. Explain the Keynesian transmission mechanism, and use graphs to illustrate   B. Suppose that…

A: The Keynesian transmission mechanism is a model of what monetary policy means for the economy. In…

Q: Households live two periods and have preferences U(c₁) + BU(C₂), where 0 < 3 < 1 and U is the…

A: An intertemporal budget constraint is a concept in economics that represents the balance between…

Q: Consider an economy with a private good and public good. The economy consists of two consumers…

A: A Lindahl equilibrium is a concept in economics and public finance theory that addresses the problem…

Q: The risk free rate is 3%. The optimal risky portfolio has an expected return of 9% and standard…

A: The expected return is a term used to estimate the average return an investor can anticipate from an…

Q: A good will have a more elastic demand, the broader the definition of the market. the shorter the…

A: The elasticity of demand measures how responsive the quantity demanded of a good is to changes in…

Q: Note the cash flow series in the graph. The amounts of 5,000 at years 2 and 4 and X are inflows to…

A: Cash inflow at year 2=$5000Cash inflow at year 4=$5000Cash inflow at year 6=XX=$6000Year=6 yearsr=2%

Q: Suppose the cost of petrol is Rs. 100 per litre. There are two consumers who wish to purchase petrol…

A: Elasticity of demand , also stands for PEd, shows how the units demanded of a commodity changes…

Q: Use the following graph to illustrate the relationship between the cost per bag of potato chips and…

A: It can be defined as a graphical tool that shows the relationship between the cost of producing any…

Q: The following graph plots the supply and demand curves in the market for VR headsets. Use the black…

A: A market's overall surplus serves as a gauge for the general well-being of all members. It is made…

Q: Identify a news item that you would like to discuss. This could range from traditional news headline…

A: According to the guidelines, direct URL links to articles cannot be added to the answer. Therefore,…

Q: produce lemons and coffee, each initially (i.e., before specialization and trade) producing 18…

A: The consumption bundle represents the different combinations of goods that people in the economy…

Q: Start Preparing for the First Midterm 4. Consider the following growth Model (C) N₂c₂ = (1-s)Y, (Y)…

A: The per capita representation of the model can be obtained by dividing each equation by the…

Q: a) The firm is not at its shutdown point. b) Firms in the industry will exit the market since no…

A: If the market price for the perfectly competitive firms represented in Figure 14.1 is $15.a) The…

Q: Leslie works from home as an IT consultant and consumes only two goods: work (W), which is measured…

A: A budget constraint is a fundamental concept in economics that represents the combinations of goods…

Q: Statutory Conditions in an insurance policy are established for the protection of both the person…

A: Statutory Conditions in an insurance policy are legal requirements or provisions that are mandated…

Q: Suppose wage (Y) is determined by years of schooling (yrsc) and sociability (soc) the following…

A: Multicollinearity is a statistical phenomenon that occurs when two or more independent variables in…

Q: Give me a negative point for this topic below Digital econommy and technological Innovation:…

A: Digital Divide:The digital divide refers to the gap between those who have access to modern digital…

Q: Are there any reasons why Smith's model of capitalism might not be a successful argument in favor of…

A: Adam Smith was a Scottish economist and philosopher. In his book “An Inquiry into the Nature and…

Q: The UK inflation rate is predicted to be 10% and the United States inflation rate is predicted to be…

A: Purchasing parity measures the exchange rate/price level of two countries. The theory evaluates…

Q: For many years, states levy a special sales tax on wine often called a "sin tax". The reasoning…

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

Q: Refer to the data in the following tables. Nominal GDP Year 2015 23000 2016 24000 2017 25000 2018…

A: Standard national income predictions are frequently used in studies of the factors that influence…

Q: Consider the market for air conditioning units. The following graph shows the demand and supply for…

A: Consumer Surplus highlights the difference in the price that a consumer can pay against the price…

Q: (a) Find the Gini index of f(x). (b) Find the values of a and b so that the income distributions…

A: Gini index used to measure the income inequality in a society. It is associated with wealth…