If supply is diminished what happens to the price of goods? What happens to the demand for goods? Use your research to explain your conclusions and include a graph for at least one of your examples

Q: Suppose an economy's production consists only of corn and soybeans. In 2010, 20 bushels of con are s...

A: Formulas: Nominal GDP = Price of the goods in current year * Quantities of the goods in current year...

Q: The ore of a gold mine in the Mountain Province contains, on average, 0.5 grams of gold per ton. One...

A: For first method it is given that, Average is 0.5 grams of gold cost = $1650 recover rate = 93% = 0....

Q: Emerging economy Renewable energy Oil and coal Developed Renewable energy (10,10) (4,12) economy Oil...

A: Game Theory is the study in social science that deals with the decisions and outcomes of two rationa...

Q: As a result of the tax on capital income, labor productivity O might change but whether it increases...

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency – reg...

Q: Capital per year A K2N K, K3 91 C2 Labor per year La L, L1

A: To identify the best production point at any given level of output, the iso-cost line is paired with...

Q: Assume that the risk-free rate (Rp) is 3% and the market risk premium (km - RF) is 8%. If the value ...

A: Given risk free rate = 3 % Market risk premium = 8 % Beta = 0.5  

Q: Explain which of the following is the independent variable and which is the dependent variable for e...

A: In economics, variables are considered as dependent and independent according to their importance in...

Q: For the net cash flow series shown, (a) apply the two rules of sign change, (b) find the external ra...

A: Given cash flow i=15%  

Q: 35. When total utility becomes maximum, then marginal utility will be

A: To find : What will be marginal utility when total utility becomes maximum. 

Q: What happens when the U.S. places economic sanctions on another country?

A: Economic sanctions are economic or financial punishments against the certain policies of a country. ...

Q: You are the Southeastern Michigan regional manager at Coca-Cola, responsible for production and pric...

A: Given inverse demand function P=10.25-0.00025Q TC for coca cola = 0.25q

Q: Which statement is true of globalization? Oa Media globalization is about technological communicatio...

A: The process through which the globe is becoming increasingly interconnected as a result of enormousl...

Q: Figure 3 shows a country's domestic market for a good. There is perfect competition. The supply curv...

A: The structure of market where buyers and sellers possesses full information about market and there a...

Q: Olivia's preferences over books and plants are given by U (b, p) = bp2 where books are $2 each and p...

A: Introduction Utility function of Olivia has given. U(b , p ) = bp2 Here b stand for books and p stan...

Q: Explain the relationship between demand, indirect utility and expenditure functions and discuss thei...

A: A consumer's desire to acquire items and services, as well as their willingness to pay a price for t...

Q: certain percentage of it. That amount recirculates through the economy and adds additional income, w...

A: A tax is a required expense or monetary charge demanded by any administration on an individual or an...

Q: What does interest rate parity refer to? O a. Inflation rates in all countries are identical Ob. O b...

A: Interest Rate Parity (IRP)- connects with the connection between the FORWARD RATE and the SPOT EXCHA...

Q: 2. A consumer has utility function и(х, у) — x+y for two goods, where x > 0 denotes the amount of X ...

A:

Q: you are the manager of a firm that sells its product in a perfectly competitive market at a price of...

A: Answer to the question is as follows:

Q: Shunda is a calculator assembly company, purchase a full set of the calculator parts, assembled into...

A: Production Function is defined as the maximum output that can be produced with a given set of inputs...

Q: You have an investment account that started with $4,000 10 years ago and which now has growh a. What...

A: a) Given that, Investment value at year 0 = $4000 value of investment at year10 = $110000 Annual rat...

Q: The diagram below shows the short - run cost curves for 3 perfectly competitive firms in the same in...

A: In a perfectly competitive market, price is constant so it is equal to marginal revenue. Profit is m...

Q: The elasticity of Supply is an important concept in Microeconomics as it relates to a business's abi...

A: The elasticity of supply is defined as the responsiveness of the quantity supplied to a change in th...

Q: What are Smith’s ideas on the components price of commodities, natural and market price, the real an...

A: Adam Smith proposed an approach of defining the values of a commodity based on labor resource expend...

Q: Future U.S. deficits could be decreased by     Question 36 options:   decreasing current and futur...

A: Below are the two reasons for the government deficit: *Excess government spending. *Low rate of taxe...

Q: Suppose market demand for oil is Q(P) = 100 – 0. 75P where Q is billions of barrels (BBL)or oil per ...

A: Yearly Market Demand : Q = 100 - 0.75 P  => P = 133.33 - 1.33 Q  Marginal Cost = 7Q2 - 3Q + 6  To...

Q: In the presence of shocks, monetary policy cannot be used to stabilize both the inflation rate and G...

A: In an economy, the effectiveness of monetary policy depends upon the market condition and the abilit...

Q: 1. Consider a profit-maximizing firm that manufactures bolts in a perfectly competitive market and t...

A: Here, the given graph shows the price, quantity and cost curves of a bolt manufacturing firm, which ...

Q: A group of two or more political parties that governs by sharing executive power and responsibilitie...

A: Mercantilism helps to move goods from the country which has abundance to the country which has scarc...

Q: Q1. Consider a Cobb-Duglas utility function: log U = log A +a log X1 +b log X2 Given the prices of c...

A: a. MU1=ax1MU2=bx2MRS=ax1bx2=p1p2⇒p1x1=abp2x2From Budget constraint,p1x1+p2x2=M⇒(1+ab)p2x2=M⇒x2(p1,p2...

Q: Estimate the following model: In exports Bo + B1 ln gdp_d + B2 In dist_d + B3comlang + B4 (In dist_d...

A: The given model is: ln exports =β0+β1 (ln gdp.d) +β2(ln dist.d) +β3(comlang) +β4(ln dist.d*comlang)+...

Q: Exercise 2 Utility 1. Muhammad derives utility from only two goods, curry (Qc) and drinks (Qd). Muha...

A: The information given is:- We have two goods:-  Curry - Qc  Drinks - Qd Income of Muhammad = RM240 P...

Q: Question 3 3(a) Use your knowledge of the Classical model to write down an equation that explains th...

A: Dear learner you have posted a question with multiple subparts, we have solved only first two sub pa...

Q: a) The construction of a beach-front resort has led to erosion of the seabed,  destruction of corals...

A: Please find the answer below.

Q: Some workers are “skilled”. Each of them on average will install 4 packages per day. The rest of the...

A: We see that for any given wage quantity supplied for unskilled worker is 4 times that of a skilled w...

Q: Explain the concept and theory for the equity premium puzzle (EPP), and evaluate these behavioural e...

A: The equity premium puzzle (EPP) refers to stocks' unusually high historical outperformance over Trea...

Q: 3. Based on the best available econometric estimates, the market elasticity of demand for your firm...

A: Given that, Elasticity of demand of your firms is -2 Marginal cost is constant at $50 a) Optimal per...

Q: 3. Tyson Brothers Manufacturing is currently earning economic profit. However, the market for the m'...

A: The profit maximization condition is : P =MC.    

Q: 20.00 17.00 10.00 10.00 7.00 8.00 2.00 250 500 750 1000 120 100 1750 Quentity of shrp in kogram Gove...

A: Given: Target price=$17.50 per kg of Shrimp  

Q: O Describe the costs of expected and unexpected inflation. Discuss why expected and unexpected infla...

A: Inflation is a quantitative measure of how quickly the average price level of a basket of selected g...

Q: Explain the term "marginal rate of technical substitution." (Assume a two-input production function....

A: Marginal rate of technical substitution examines the ratio of the marginal products for the two inpu...

Q: Assume the Federal Reserve has forecasted inflation over the next year to be over its target. Becaus...

A: Answer:- (a) making small changes in interest rates over time.

Q: Consider the lottery that assigns a probability r of obtaining a level of consumption CH and a proba...

A: Certainty Equivalent is defined as a return that is guaranteed that an individual would accept now, ...

Q: 21 Consider the following demand function: x* = 2P+3Py Calculate the (own) price elasticity of deman...

A: Own price elasticity measures the percentage change in quantity demanded of good when price of the g...

Q: You are the manager of a monopoly, and your demand and cost functions are given by: Q = 25 - 0.5P C(...

A: Monopolistic market: A monopolistic market is a theoretical condition that describes a market where ...

Q: How to imorove quality education in the Philippines

A: Over hundreds of years of colonial occupation, first by Spain and then by the United States, the Phi...

Q: If there were 2 firms that produced footballs and they both paid the same in wages and raw materials...

A: Here, it is given that firm A and firm B has same average total cost, but they both are producing di...

Q: Which of the following government financial decisions was the least influential in attempting addres...

A: Financing decisions allude to the choices that organizations need to take in regards to what extent ...

Q: Assume the market for coffee mugs is perfectly competitive. Firms in the market are producing output...

A: A perfectly competitive firm is a price taker and maximizes profit by producing at P =MC 

Q: A profit-maximizing monopolist finds that if it remains open, the best output is 50 a week, but at t...

A: The average revenue (AR) curve depicts the price level at each level of output.  i.e., AR = Price A ...