feedback and control system Explain how the economic concept known as "supply of law and demand" can be interpreted as a feedback control system. Take the example of the soaring price of fuel in the market today
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feedback and
Explain how the economic concept known as "supply of law and
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- The Ontario Minister of Agriculture and Food wants the federal government to eliminate the AgriStability program. Describe the process required to make this change happen.Explain each one of these. 1. Government Black Entry 2. Control Key Resources 3. Network Externalities 4. Economic of ScalePlease no written by hand solution In 1972 the U.S. Food and Drug Administration (FDA) began requiring all aspirin manufacturers to package aspirin in bottles with child-resistant protective caps, to make it much harder for children to open the bottles and thus reduce the number of young children who died from overdosing on aspirin. (Children apparently thought the aspirin was candy.) Rather than decreasing, the number of young children who died from overdosing on aspirin actually increased. Use the Economic Way of Thinking to carefully and completely explain why requiring this safety device led to an increase in the number of children overdosing on aspirin.
- nomics Volume of Production Price (dollars) Total Production Cost (dollars) 10 1434 22841 30 991 26408 35 917 23781 45 1020 29675 70 703 38801 100 298 44834 4. Compute the slope of the demand curve. The potential answers are: A: -12.89 B: -10.5 C: -11.33 D: -14.28 E: -10.64 5. Compute the maximum potential sales quantity. The potential answers are: A: 127 units. B: 125 units. C: 105 units. D: 116 units. E: 168 units . 6. What percentage of total costs can be estimated based on the volume of production? The potential answers are: A: 69% B: 97% C: 91% D: 94% E: 92%Note:-If any graph possible do it also Do it on ms word plagarism must be 0. Plagarized content give 0 feedback so do it with carefully without any plarism.thankuHighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
- what is author “Craig VanGrasstek,” definition of WTOQuestion: Who among the following economists introduced the concept of the "invisible hand" to describe the self-regulating behavior of the marketplace? A) Adam SmithB) John Stuart MillC) Friedrich HayekD) Paul Samuelson Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.What is the difference between an Internal Customer and an External Customer? Why are both equally important?
- K Given the input-output matrix below, find the output matrix if final demand changes to 400 for water, 180 for electric power, and 700 for agriculture. Industry: Water Electric Power Agriculture Other Water 120 120 240 720 The output matrix is X = (Round to two decimal places as needed.) Industry Electric Power 400 200 100 300 8 Agriculture Final Demand 180 240 120 60 260 170 500How can these topics be applied to the real-world work environment of the corporate economist? The market and equilibrium The demand side of the market The supply side of the marketState the processes performed when demand is predicted to be greater than supply.