Q: What is the economic problem? a. less profit Ob. liquidity Oc. Scarcity O d. unlimited resources
A: Economics aims to allocate the resources in such a manner so that the most efficient outcome is achi...
Q: Is it ever possible that if someone is a net seller of a good, and the price of the good he sells fa...
A: Seller is person who sales goods and services in market in order to make some money . And seller is ...
Q: QUESTION 33 Assume that over the long run, a firm increases their scale of operation and hires doubl...
A: Here, it is given the firm decides to increase its scale of operation due to which it employs double...
Q: а. What is GDP? b. What is the valued added by each person? Should the pumpkins be included in GDP? ...
A: d. The GDP is the market value of goods and services produced in the current fiscal year. GDP does n...
Q: An engineer bought an equipment for P 500,000. Other expenses including installations amounted to P ...
A: Given Cost of equipment =P500,000 Installation cost =P30,000 Salvage value at the end of 10 years =...
Q: 9. Economics is the study of
A: To find : What is economics.
Q: A mechanic quits her current job, which pays $38,000 per year. She can take a job with another firm ...
A: Opportunity cost is defined as the cost incurred when an individual gives up one good for the other ...
Q: 9. A soot spewing blacksmith producing steel S is located near a laundry where clean clothes are hun...
A: The output of the blacksmith is given by, MCS=PS⇒2S=40⇒Snc=20 If the cleaner equates MC to price, MC...
Q: Please help me with this macroeconomics question! 5
A: macroeconomics means the study of the conduct of the public or economy as a whole. It is worried abo...
Q: Profit is maximum when
A: To find : When will be profit maximum.
Q: If, in a monopoly market, the demand function for a product is p = 195 − 0.80x and the revenue funct...
A: Given: p = 195 − 0.80x R=px
Q: The birth rate of the United States in 2014 and 2015 was 12.5 births per 1000 people, and the death ...
A: Given; The birth rate of the US= 12.5 births per 1000 people The death rate= 8.2 death per 1000 peop...
Q: Sophia’s preferences over donuts (D) and coffee (C) are represented by the utility function: u(D,C)=...
A: The utility function implies donuts and coffee are perfect complements and consumed in fixed proport...
Q: Joanna calculated that last year her income by fell by 4% and that the price of biscuits increased b...
A: Given Increase in price = 16 % Decrease in consumption = -40%
Q: Match the words from the list below to complete the following statement A price taker firm will maxi...
A: There are large number of firms in perfect competition selling identical goods with no barriers to e...
Q: Calculate the steady state level of investment in an economy with a savings rate of 15%, population ...
A: The steady-state level of investment in an economy is when investment is equal to the depreciation, ...
Q: Suppose income increases by 2 percent and the quantity of airplane travel demanded increases by 6 pe...
A: INCOME ELASTICITY OF DEMAND IS THE REPONSIVENESS OF QUANTITY DEMANDED FOR A GOOD TO A CHANGE IN CONS...
Q: Elasticity of demand depends on a number of factors, including whether the product in question is a ...
A: Elasticity (ed) of demand is the ratio of %change in Qd(quantity demanded) and %change in P(price) o...
Q: Give example for singapore’s fiscal and monetary policies during covid-19.
A: To find : Example for Singapore fiscal and monetary policy.
Q: Question 11 of 11 View Policies Current Attempt in Progress Natasha takes out a loan. The interest o...
A: At month t she owes $14000 At month t+1, she owes $14000(1+(0.09/12))=14105 After this payment is pr...
Q: market consists of groups of buyers and sellers of a good or service. Market equilibrium represents ...
A: The equilibrium is established where the demand and supply forces are equal. The change in the deman...
Q: d. double declining balance method depreciation charge: Php book value: Php e. sum of the year's dig...
A: Solution:- a.Straight line method Depreciation charge : Php 6650 Book Value: Php 3350 b.Sinking f...
Q: Consider the market for coffee: Assume first that there is a heatwave that damages a large portion ...
A: The introduction to the question rightly mentions that "a market consists of groups of buyers and se...
Q: a. Explain briefly what the consumer price index tries to measure? b. Describe three problems that m...
A: a) CPI or Consumer Price Index is a metric/measure that measures the average change in prices paid b...
Q: Thomas has the following utility function over milkshakes (m) and smoothies (S): U (m, s) =m+3s Toda...
A: Two goods Perfect substitutes when only one of them is consumed depending on price ratio and margina...
Q: If the production function is given by Yt=Kt 2/3Lt 1/3 and the saving rate (s) equals the depreciati...
A: There is no economic growth once economy reaches the steady state level. there is enough capital to ...
Q: Emma sells hand-made shawls in a perfectly competitive market for £18 per shawl. Emma’s fixed costs ...
A: Total cost (TC)= Total Fixed cost (TFC) +Total variable cost (TVC). TFC is cost associated with fixe...
Q: 2. What are some of the predicted effects of repealing DACA on the U.S. federal budget? Repealing DA...
A: DACA was created to safeguard qualifying immigrant teenagers who arrived in the United States as min...
Q: SOURCE 1B Andrei Vyshinsky, the Soviet Union spokesman at the United Nations, speaking at the United...
A: Foreign Aid: It refers to the international transfer of public funds in terms of capital, goods, or ...
Q: Answer the following and show complete solutions. Instructions: 2. Using the Residential rate sched...
A: Total Cost refers to the total value of all the prices of the input used during a period. It is calc...
Q: • S = - 600 + 0.25Y, I= 400 -1100i • Ms = 1000, Mt = 0.15 Y, Mp = 0.10 Y dan Msp = 200 – 800i %3D • ...
A: Introduction The economy is in equilibrium so Ms = Mp 1000 = 0.10 Y So Y = 100010 × 100 Y = 10,000 N...
Q: The four statements below each describe a different market, highlighting one feature of that market....
A: Imperfect market A monopoly is a market structure where there is only a single seller in the market ...
Q: which of the following best describes marginal product? A.)Left over output- the loaves a bakery mak...
A: Total product refers to the total output produced with the given inputs. Marginal product refers to ...
Q: suppose a stock worth $50 today is equally likely to be worth $100 or $25 a year from today. What is...
A: Introduction Probability of becoming high stock worth and stock worth per year will be equally likel...
Q: Consider the chart: B ht Health care $12000 spending per United States person Ni th 10.000 Switzerta...
A: Health spending estimates the last utilization of health care labor and products (for example curren...
Q: Define the term and explain a situation that demonstrates the 'real world' application of each of th...
A: a)A trade deficit basically happens when a country imports more products and services in terms of va...
Q: Thomas has the following utility function over milkshakes (m) and smoothies (S): U (m,s) =m+ 3s Toda...
A:
Q: temand curve slopes downwards. Which of the following would not od excess supply. Fall in price.
A: Demand and supply can be plotted as bends/curves. The place where the two bends meet is known as the...
Q: Given the cash flows in table below. Determine the value of P. i= 6% per year Year o 1 2 3 4 5 Cash ...
A: given cashflows for 5 years interest rate = 6 % Net present value is the sum of cashflows discounted...
Q: Ceteris paribus, in a closed economy, if consumers become more pessimistic. O autonomous consumption...
A: In a closed economy, if the consumer becomes more pessimistic about the future, he will reduce the l...
Q: A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat int...
A: Since you have asked multiple subparts, we would solve the first three for you. To get the remaining...
Q: Suppose that investment depends on both output and the interest rate and there is an increase in con...
A: Consumer confidence:- Consumer confidence can be explained as an indicator of the economy. It gauges...
Q: Firms L and M are the only two providers of a homogenous output in a market with inverse demand give...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
Q: The opportunity cost of a decision is the sum of all the foregone benefits that you'd receive from a...
A: Every choice needs a trade-off because resources are limited. Opportunity cost arises when there is ...
Q: Use the following supply and demand schedules for skate boards in table 18.1, to answer the question...
A: Given that the price ceiling is at $400, as price ceiling is the legal maximum price that producer c...
Q: Which of the following statements is FALSE? a.) Economists seek to apply the scientific method to s...
A: Economics is the study of that branch in social science which deals with the production and distribu...
Q: At the point of equilibrium of firm (under perfect competition)
A: To find: What happens at point of equilibrium of firm.
Q: The four statements below describe properties of a firm's short run cost curves. Complete the statem...
A: Average cost is the per unit cost of production. Marginal cost is the additional cost incurred to pr...
Q: In the diagram below, a doubling of the price of X causes one to Y 100 20 40 45 50 100 increase the ...
A: When the price of x doubles, the budget constraint swivels around the x-axis. The Y coordinate howev...
How does health, wealth, and happiness of an economy might tie into the business world or be important to know from a business perspective?
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- How do you view entrepreneurship in terms of its importance and roles in our economy?what type of economy do people work for about to hours then spend the rest of their time drinking tea and playing cardsHow business schools can improve the quality of education to produce and nourish good business leaders for the business world?
