2010 Price Quantity 100 2016 Price QuantitY 113 55 85 10 se.24 50.32 0.29 0.34 1.04 0.64 0.43 50 asket) 2.79 0.91 1.96 10 Click here forthe Excel Data Fle mple price indexes. (Round your answers to 2 decimal places) Simple index
Q: Question 2. Consider the following IS-LM model: C = 200 + 0.25YD I-150 +0.25Y-1000i G= 250 T 200…
A: W have C=200+0.25YD I=150+0.25Y-1000i G=250 T=200 Money demand: MPd=2Y-8000iMoney supply: MP=1600
Q: A firm produces a product made of a rare stone but has shipping costs. For simplicity, ignore all…
A: Locational cost examination is a strategy for deciding the volume of creation where an organization…
Q: ) What is the Service Corps of Retired Executives (SCORE)? How does it assist small-business owners?…
A: The Service Corps of Retired Executives (SCORE) refers to a non-profit organization whose members…
Q: Suppose that two firms are Cournot competitors. Industry demand is given by P= 200- q - q, where q,…
A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…
Q: In class, we use the dollar-euro exchange rate, Es/e to graph foreign exchange equilibrium. Let's…
A: Given information Expected future exchange rate Ee ¥/$=120 R ¥=0.001--- Rate of return on Yen…
Q: If barriers to entry ________ or product differentiation ________, competition in a market will…
A: In perfectly competitive market, firms produce identical goods. They do not have any market power to…
Q: more debt every year while its output is greater than potential output and its economic growth is…
A:
Q: Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in…
A: the production possibility frontier (PPF) is a bend representing the differing measures of two…
Q: The price – supply and price – demand equations of a certain product are given by p = S(x) = 15 +…
A: Given:- p=S(x)=15+0.1x+0.003x2 p=D(x)=M-nx Equilibrium price level=P55 To calculate:- Producer…
Q: Suppose Y = C+ I + G C = 900 +.75(Y) I = 300 G = 400 a. Calculate the equilibrium GDP
A: GDP measures the value of goods and services produced within an economy in a given period of time.
Q: Apply the properties of functions to correctly determine and interpret the break-even point in the…
A: The equilibrium price is the price at which the demand for goods and the supply of goods will be…
Q: 3. If we place a price ceiling of $3, do we have a surplus or shortage? By how much? Label producer…
A: Equilibrium is achieved at the output level where Qs equals Qd. Thus required equilibrium output is…
Q: QUESTION 12 If your willingness to pay for a coffee is 35 dirhams, and the price is 20 dirhams. What…
A: "Consumer surplus represents the difference between the consumer's willingness to pay for a good and…
Q: (35) Consumers who gain the highest marginal benefit from a good supplied by a perfectly…
A: In perfect price discrimination, firm charges the price equals to the willingness to pay of each…
Q: An individual has a utility function, U(q,,42) = Jq1•92). (Mathematical assistance: x = x2). Derive…
A:
Q: Economics I know the answers are 21% 21% and $18,784,100 i just need to know how to get there. Month…
A: The total of a person's taxable income from all sources is added together and then divided by the…
Q: (i) Discuss the Lucas Critique.
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Two mutually exclusive alternatives are being considered for the environmental protection equipment…
A: To find the alternative which is preferred over other , we find annual worth of the cash flows and…
Q: Quantity (tickets per show) Price Total cost Big Top is the only circus in the nation. The table…
A: Since you have asked multiple question, we will solve the first three subparts as per honor code for…
Q: Rue's utility function is U(z, y) min{z, 3y}. Jules' utility function is U(z,y) min{z, y). (a) Which…
A: An indifference curve is a graphic presentation of integrated products that offer an identical type…
Q: Possible solution in a post normal perspective about regaining the economy of a third world country.
A: Third world economy Third world economy stands for the countries which are less developed. These…
Q: If the price is set to P1, what area represents the producer surplus in the graph shown above? D B +…
A: Producer surplus refers to the total amount of money earned by a producer that is above the minimum…
Q: Which institutional design would you say is more suitable for economic growth: a majoritarian or a…
A: A democratic administration is superior to a dictatorship because it is more responsible.
Q: Davao International Airport has crafted estimates for the upgradıng of security systems. Will the…
A: Given that; Interest rate= 10%
Q: Do you agree with the Reeves v. Ernest & Young court that the Family Resemblance test and the…
A: Family resemblance test is to a method of analyzing a debt instrument which has a horizontal…
Q: Any healthy HSA holder who is under 65 that uses the saved money in the account for non-health…
A: Health Savings Account (HSA) has become a popular option for those who want to manage their…
Q: Hilda's Hair Hysteria earned $3, 750 in total revenue last month when it sold 125 haircuts. This…
A: Total revenue when sold 125 units = 3750 $ Price at 125 units = TR / units = 3750 / 125 = 30 $…
Q: For each of the following situations, decide whether AlI has diminishing marginal utility and why.…
A: The law of diminishing marginal utility states that if other things are constant, the marginal…
Q: 7. The best alternative foregone for any choice is known as the associated cost consumer's marginal…
A: Since you have posted multiple questions as per the guidelines we can solve only one question per…
Q: The Philippines has the highest Gini coefficient among ASEAN's six largest economies at 41.58%.…
A: Given information Gini coefficient of Philippines=41.58%=0.4158 Gini coefficient=area of A/Area of…
Q: Find a maximum profit for a firm if its total revenue function is TR = 50Q - Q2 and its total cost…
A: Profit maximization occurs at the point where the Marginal revenue and Marginal cost are same.…
Q: Stock Market Prices: Demand and supply in Action Firms that are quoted on the stock market can raise…
A: A stock market, sometimes also known as an equity market or a share market, is a place where buyers…
Q: In the context of oligopoly, which of the following describes a situation in which a firm should…
A: In strategic interaction, different firms might have different actions which a firm could choose for…
Q: The table below shows the information on quantity, price and cost of a monopolist. Assume that the…
A: Total cost (TC)= TFC + TVC Quantity Price($) TVC FC TC MC TR MR Profit 10 9 20 20 40 - 90 - -…
Q: c) Suppose a crisis in consumer confidence decreases autonomous consumption to $100. Show…
A: Full employment level is achieved where LRAS=AD = SRAS . beyond the level of Full employment output…
Q: Question 5 A function g(z) is strictly increasing if g'(z) > 0 on its domain. Assume the supply and…
A: Given information Qs=S(P)--- quantity supplied is the function of P Qd=D(P+T,Y)---quantity demanded…
Q: In which of the scenarios below would Fed decisions geared towards eliminating GDP gaps lead to a…
A: Introduction : inflation is a general increase in the prices of goods and services in an economy.
Q: d. Double Declining Balance Method. BV;=P26,214.40
A: Given Machine Cost P=80,000 Estimated life =10 years Salvage value F=5000 We have to calculate book…
Q: Assume that investment spending is no longer affected by output but only by interest rates. Given…
A: Here, it is given that investment spending is only affected by the change in interest rate as a…
Q: How is the first mover advantage related to schelling's paradox of commitment
A: To be first allows a company to develop a strong brand. It also boosts client retention before…
Q: Jimmy just graduated from a top medical school and is currently deciding which hospital emergency…
A: Unemployment refers to the state in which a person does not have any job even though he is actively…
Q: explain the measures companies could take to overcome trade barriers
A: Trade barriers are the agreements or policies between two or more nations to limit imports and…
Q: Question When the price of a cup of tea is BHD 0.200, each MBA student will demand 2 cups of tea…
A: Supply snd demand, in economic matters, connection between the amount of a product that makers wish…
Q: how do money and debt play a decisive role in the development of the market logic of capitalism?
A: Many businesses and people utilize debt to finance significant expenditures that they otherwise…
Q: There are two firms A and B. Firms compete in a Cournot Duopoly in Karhide. They set quantities qA…
A: The cost is divided into two categories that are fixed cost and variable cost. The total fixed cost…
Q: Assume that a consumer's utility over two years is a function of consumption during the twe years.…
A: Utility function : U = ln C1 + B ln C2 Intertemporal Budget Constraint : C1 + C2/(1+R ) = Y1 +…
Q: C. What is the average growth rate per year of these two time periouds?
A: GDP deflator is the ratio of nominal GDP and Real GDP . GDP deflator = (Nominal GDP / Real GDP )*100…
Q: market structure table with example
A: Market structure:- The way industrial sectors are divided and distinguished depending on the extent…
Q: 9.If a firm is maximizing its profit and is earning positive economic profit, which of the following…
A: A profit maximizing firm produces at MR = MC. So, profit maximizing condition of firm is MR = MC.…
Step by step
Solved in 3 steps
- 1. DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: - 1.5; Pawpaw: -2.5; Pineapples: - 0.6. You have been asked to evaluate the planned price increases. Comment on the planned price changes. Would a 10% price reduction have been better for some or all of the products?Government survey-takers noted the following prices each year for the listed items. Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 Calculate the percentage increase in PPI from the base year, 2016 to 2017.The following is a report from a BLS survey taker: “There were 90 people in the houses I visited. 20 of them were children under the age of 16, 25 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. Five of these people had not looked actively for work for three months, however.” Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses as whole numbers.Labor force: peopleWorking-age population: peopleNumber of employed workers: peopleNumber of unemployed workers: people
- Consumer price index, based on a problem from “Principles of Economics” byN. Gregory Mankiw Question 3) Wen is a typical consumer. Wen spent a total of $10 on 10 pomegranates, $36 on 3 shawarmas,and $35 on 7 cups of coffee in August. In September, Wen spent a total of $18 on 12 pomegranates, $24on 2 shawarmas, and $42 on 7 cups of coffee. In October, Wen spent a total of $22 on 11 pomegranates,$33 on 3 shawarmas, and $32 on 4 cups of coffee. a) Calculate the price of one unit of each good in each month.b) Using August as base month, calculate the CPI for each month.c) Find the inflation rate for September and October.The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 16, 25 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. 5 of these people had not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the survey taker’s report.Labor force: people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: %Participation rate: %Mr Adam was purchasing 1 kg daal and 6 kg rice. This week Mr Adam is purchasing 2 kg daal and 5 kg rice. What can you conclude from the given information? Discuss all conclusions in detail.
- The following is a report from a BLS survey taker: “There were 70 people in the houses I visited. 12 of them were children under the age of 16, 25 people had full-time jobs, and 6 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 5 full-time students over age 16, and 2 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. One of these people had not looked actively for work for three months, however.” Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses as whole numbers.Labor force: peopleWorking-age population: peopleNumber of employed workers: peopleNumber of unemployed workers: peopleCompute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600There are a number of statistics computed to measure the price level of an economy, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question you are interested in. For each of the following situations, explain whether the CPI or the GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. (a) The government is interested in whether increases in defense spending are affecting the price level. (50 words) (b) An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
- Mika eams $340 per week which she spends entirely at the grocery store. purchasing either food or akohol The price of food is $1Aunit, while the price of alcohal is $4/unit. IT Mika receives an additional S65/week in todd stamas thut can be used to buy anyttiog at the grocery store so, this money could be used to buy food and alcoho what is the etical coortinate of the vertical tercept of Mika's budget constraint if she were to graph quantity of food on the horizental as and quantity of alcohol on the vertical aist (Note The amwermay not be a whole number, so round to the nearest hundredthwhich of the following is NOT a problem in using economic statistics? a) using GDP statistics to compare income in the U.S. and Bangladesh may be inaccurate because household production (non-market) is a much higher percentage of the economy of Bangladesh. b) Using the published CPI statistics to calculate changes in the purchasing power of your income is inaccurate because the CPI is calculated for the "average consumer's" spending pattern. c)The same statistics are often interpreted differently by different politicians and reporters, which makes it difficult to understand what is really happening without understanding how the statistics were calculated. d) Government statisticians in the U.S. frequently distort the numbers.DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: -1.5; Pawpaw: -2.5; Pineapples: -0.6. You have been asked to evaluate the planned price increases. a. Comment on the planned price changes. b. Would a 10% price reduction have been better for some or all of the products?