Illustrate and explain what is meant by consumer surplus and producer surplus at market equilibrium..

Q: To make sensible judgments about economic policy, we must: Select the correct answer below: O demoni...

A: Economic policy refers to policy that addresses that problems of the economy itself.

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A: We know that the consumer price index CPI is calculated as  CPI=value of consumption basket in given...

Q: Suppose the value of house T periods from now will be equal to 80T. The rate of interest on he gover...

A: A lender charges a borrower an interest rate that is a percentage of the principal (the amount borro...

Q: Which of the following is NOT an example of a unilateral transfer?   A) A Canadian charity sends don...

A: Unilateral transfer:- It is a transaction of money or goods from one person to another person withou...

Q: In an exchange economy, there are two people (Shadi and Nino) and two goods (x1 and x2). Their initi...

A:

Q: Consider the graph below Suppose that the economy is at point A Price Level LRAS SRAS AD Y (GDP) Cur...

A: Below is the edited graph:  

Q: Price 32 30 28 26 24 22 20 18 16 14

A: We need to find out equilibrium point,

Q: 4. Basil and celery leaves are substitutes in making noodle soups. A rare drought destroyed a good p...

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...

Q: a) Clearly indicate the eliminated dominated strategies. Apply the EIE algorithm, and determine the ...

A: The given matrix is:   w x y z a (1,5) (2,2) (0,4) (3,1) b (3,0) (4,1) (2,5) (4,2) c (1,3) ...

Q: The amount which from the transaction entered by the person who borrows money called the debtor or m...

A: Answer-

Q: 1. List 10 new market demand that people need in their lifestyle.

A: We know that Market demand portrays the interest for a given item and who needs to buy it. This is d...

Q: A.  Identify the following: __________1.       Existence of unemployed resources __________ 2.    ...

A: The area of distribution, consumption, production, and trade by the different agents is known as the...

Q: Justify how relevant is the knowledge of the concept of development to the Ghanaian society in this ...

A: Education is essential for growth and development. All development achievements, from health advance...

Q: Consider the following version of the short run monetary model: MD/P = exp(-0.50*)*Y (UK) MS = M i-L...

A: Given,  The Money Demand in UK : MD/P=e(-0.50*i)*YMS=Mi=i_{US}+e^e-eM=1100Y=1506P=1i_US=0.04e^e=0.7

Q: Andrew and Ben own and live in condominium apartments in the same building. Ben's condo is directly ...

A: Given:Andrew ability to smoke marijuana inside his condo=$100 per monthBen value fresh air in his co...

Q: elasticity 8f general? lemand. does nat do elasticity of demand, the income elasticity of demand and...

A: We know that The price elasticity deals with the sensitiveness to the demand or supply of services o...

Q: line represents 2010. Share of income received 1960 2010 Bottom 20% 10% 5% Bottom 40% 30% 10% Bottom...

A: In economic aspects, the Lorenz bend is a graphical portrayal of the circulation of pay or of riches...

Q: MACROENVIRONMENT ELEMENT Characteristics (Define the given element by identifying its nature, charac...

A: Free market: Free market refers to the market system without government intervention. In this, the e...

Q: 21.Consider the following game, which depicts US and Soviet confrontation during the Cuban Missile C...

A: In economics, the game theory is a tool for the strategic interaction of two rational decision-maker...

Q: In a competitive market, the industry demand and supply curves are P = 70-QD and P = 40+2QS. %3D w. ...

A: We can find the equilibrium price and output, by putting industry demand equal to industry supply.

Q: A firm faces the demand schedule = 0.69 and the total cost function TC = 40 + 30q + 0.4q². %3D (a) W...

A:

Q: Explain the two types of demand.

A: Demand: It is one of the two forces of the economy which drives the economy and the market. It is cl...

Q: To align personal and corporate goals, firms need to have a strong ethical climate, explicit rules f...

A: In a mane, a firm enters with having some corporate as well as personal goals to operate a business ...

Q: What is the profit-maximizing output level for a company that has demand function Q = 220 - 4P and c...

A: In every market, the producer's intent is to maximise profits, albeit with a slightly different appr...

Q: Q)If the economy is in a steady state, then A. both consumption per worker and capital per worker a...

A: A steady state of economy is defined as an equilibrium between production growth and population grow...

Q: In 1938, major powers met in Munich to discuss Germany’s demands to annex part of Czechoslovakia. Le...

A: Given information 2 countries Allies and Germany Allies has 2 strategy compromise and fight Germany ...

Q: Jane has 11 liters of soft drinks and 10 sandwiches.​ Bob, on the other hand, has 9 liters of soft d...

A: The Pareto optimum points are those where no one can be made better without making someone else wors...

Q: Bertrand duopoly 1. In the rium is such that firms set prices a. homogeneous product; above; do not ...

A: In the Bertrand competition, firm competes on the basis of prices. The keeps on falling until it bec...

Q: Derive formulae for the marginal products of the three inputs in the produc- tion function Q = 40K0³...

A: Marginal product of an input is the additional output produced by employing an additional unit of th...

Q: An economy, Delta exported goods worth $30 billion and services worth another $10 billion in 2020.  ...

A: A country's current account tracks the value of its exports and imports of commodities and services,...

Q: 2. Suppose demand and supply are given by Qdy = 7-P and Qsx =P- %3D a. Determine the equilibrium pri...

A: As you have given a question with multiple parts , I have solved the first three subparts for you. I...

Q: The gross domestic product (GDP) of the United States is defined as the all in a given period of tim...

A: Gross domestic product measures the value of goods and services that are produced in a given year wi...

Q: Consider the above table for the market for oranges. A deep frost destroys many or the orange juice ...

A: The curve that depicts the quantities that are being demanded by individuals at various levels of pr...

Q: uppose that a firm's marginal abatement cost function with existing technologies is MAC = 16  - 2E. ...

A: Given Information   lets denote Initial emission by E1 and new emission with E2   MAC = 16-2E , Init...

Q: The population of a country can be divided into the employed, the unemployed, and the persons who ar...

A: Before proceeding with the required question, we'll first discuss the basic meaning of terminologies...

Q: Goals and objectives of Poverty Alleviation Program in the Philippines.

A: As a product is manufactured and put into production, cost  is calculated and business follow ups. B...

Q: The following graph shows the labor market for research assistants in the fictional country of Colle...

A: Given; Equilibrium wage= $10 per hour Equilibrium number of research assistants= 200 Levied on em...

Q: Please draw two graphs The first graph showing the impact of higher corn prices on (consumers) expla...

A:

Q: Which of the following is NOT a reason why the AD curve slopes downward? As the price level falls, n...

A: Aggregate demand shows a negative relationship between price level and real output of an economy.

Q: Investment 0.30 rate 0.25 0.20 0.15 0.10 0.05 0.05 0.10 0.15 0.20 0.25 0.30 Saving rate 19) Given th...

A: The red straight line is 45° line which shows that at each point on red line both axes value are equ...

Q: The following graph shows Raphael's weekly demand for apple pie, represented by the blue line. Point...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: Which of the following statements are FALSE, all else being equal? Choose TWO The better the unemplo...

A: Consider option 1: The better the unemployment benefits, the lower the natural rate of unemployment ...

Q: 4) Suppose each stock in a portfolio has returns (over the upcoming year) of R = BRm + e, i=1,2,.n W...

A: In order to proceed onto the given case study, we first need to analyze the meaning of basic terms u...

Q: In the summer of 2018, you took a vacation and visited several destinations in France, including the...

A: The balance of trade, also known as the commercial balance or net exports, is the monetary value dif...

Q: CNBC on Jan 26, 2022 reports, “Federal Reserve points to interest rate hike coming in March". Graphi...

A:

Q: 1. What are the strengths and weaknesses of program planning budgeting?

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 18  - 2E....

A:

Q: The table shows the price and quantity demanded for floor mats. Using the Midpoint Method, what is t...

A: Point Price  Quantity  B P1=43 Q1=480 C P2=46 Q2=460 Mid point method of price elasticity of ...

Q: What is the Marginal Cost if TC =10+5q What is the marginal cost if  TC= 100+5q   Explain

A: TC=10+5qNow,MC=∂TC∂qMC=∂(10+5q)∂qMC=10

Q: Draw a well labeled diagram of the LM Curve.  Determine the equilibrium level of income and equilib...

A: The LM curve represents the money market equilibrium. It represents the various combination of the l...