inelastic

Q: Question 4 A country's gross domestic product for a given time period is the total market value of…

A: GDP or Gross Domestic Product is the sum total of the market value of the final goods and services…

Q: The ________ function is the mathematical representation of the technological relationship between…

A: Net export is the difference between Export and import.  Saving is the remaining amount from the…

Q: Use an aggregate demand and supply diagram to illustrate and explain the following will affect the…

A: In long run, as per J.M. Keynes economy's aggregate supply curve starts with horizontal line in…

Q: Which of the following is unlikely to affect the rate of economic growth? O 1) the quality of…

A: Introduction  Economic growth refers to long term increase in real national income  or real national…

Q: 3 A Cost Function A firm's cost function is: c(w₁, w2, y) = y²w₁5 w;5 a. What type of returns to…

A: The given cost function which is a function of input prices and the output is the minimum level of…

Q: Q1. Assume that a country produces two goods, agriculture (which requires land and labor) and…

A: Heckscher-Ohlin theory in international trade is a model that explains how a country with an…

Q: (d) Suppose the probability of a fire rose to 5%. Would the agent buy insurance now? Show your work…

A: Here we are given the situation where payoff are uncertain and we are also given the respective…

Q: 1.9. What is a mixed strategy in a normal-form game? What is a Nash equilibrium in a normal-form…

A: A Nash equilibrium refers to a scenario where in the economic actors interacts with one another each…

Q: You want to purchase a new car in 5 years and expect the car to cost $18,000. Your bank offers a…

A: In the realm of economics, money stored in a bank  or any financial institution is referred to as a…

Q: The aggregate production function is Y = 5KL. If there are 18 units of capital and 50 units of…

A: Production function shows the relationship between the input and output.

Q: Ginny currently earns a    (a. nominal; b. real)    wage of $12.00 per hour; in other words, the…

A: Wages are the rewards given to a person for successfully completing a task. Real wage and nominal…

Q: A company is considering two types of equipment for its manufacturing plant Pertinent data are as…

A: MARR is a helpful approach to weighing up whether investment merits the risks related to it. To work…

Q: A monopoly is considering selling several units of a homogeneous product as a single package. A…

A: A market is said to be a monopoly when there is a single main supplier for a good that has no closed…

Q: Suppose you have been hired by a research firm trying to understand the market for Widgets (a…

A: Introduction Quantity demand is the quantity demanded of a product at various prices during a period…

Q: 8. Suppose a firm has following total cost function: TC=900+4Q+Q². Find the fixed cost (FC), total…

A: The total cost involve in the process of production is the sum of the total fixed cost and total…

Q: An increase in GDP can result from an increase in Group of answer choices the labor supply.…

A: GDP is the value of all final goods and services produced within the domestic territory of a country…

Q: Acquiring a supplier because it becomes more profitable Question 4 options: ​will raise…

A: Asking price will be influenced by a numerous variables and factors, including the size, location,…

Q: Among the sources of increase of productivity are Group of answer choices All of the above advances…

A: By comparing the quantity of goods and services produced (output) with the quantity of inputs…

Q: A bond pays P342 interest per year and has face value of P9,320 at the end of 12 years, when it has…

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Q: Q* = How much profit did the monopolist earn? Profit = $

A: In economics, profit maximization is the short run or long run process by which a firm may determine…

Q: Order cost $80.00/set/yea $200 a. What is the current total annual cost (TOR b. What is the economic…

A: Economic Order Quantity, also known as Economic Purchase Quantity, is the order quantity that…

Q: What is the concept of an ecological dish and give an example

A: Ecology is the study of the relationships between living organisms, including humans, and their…

Q: High-income industrial nations such as the United States and Japan tend to have their highest…

A: When talking about nations like United States and Japan that are high-income industrial nations, it…

Q: uppose that a utility-maximizing consumer is usually purchasing two goods, pizza (a normal good) and…

A: The income effect is the change in the real income due to the change in the price of a commodity and…

Q: Suppose that country A produces two goods (a labor-intensive good X, furniture, and a…

A: Labor intensive implies a procedure or industry that needs a large amount of labor to produce its…

Q: (C) Compute the cross price elasticity of good X for a change in p. (D) Compute the income…

A: Given  Utility function: u(x,y)=xαyβ              The formula for cross price elasticity of good X…

Q: 1. Define the following terms: production function, average product, marginal product, law of…

A: Note:- Since you have posted multiple subparts, as per the guidelines we can solve only first 3…

Q: Stockholders are the owners of a corporation and the two types of stocks are: (Choose two)     A.…

A: Any individual, company, or institution that holds at least one share of a company's stock or unit…

Q: A rice production company has purchased its milling equipment. The cost of this is 5,000,000.…

A: Given  The initial cost of equipment (P)=5,000,000 Salvage value (F)=1,000,000 Life =5 years Book…

Q: Item Imports of goods and services Foreign investment in the United States Exports of goods and…

A: In international economics, the balance of payments of a country is the difference between all money…

Q: A consumer of two goods has utility u(x₁, x2) = 12. She can purchase each good i = 1,2 at a price of…

A: Utility function : U = x1x2  Budget Constraint : P1x1 + P2x2 = w Optimization problem is to maximize…

Q: Discuss the actions a purchasing manager can take to reduce uncertainty associated with supplier…

A: Introduction  Any business or other organization must make the best purchasing decisions to enhance…

Q: 3. Kroger store decides to run a price promotion for apple pies. Through market research, they…

A: Price elasticity measures the percentage change in quantity due to percentage change in price.…

Q: If the R2=0.5647 and the SSR=357414. What is the SST? Write your answer to 2 decimal places.

A: R2 measures the proportion of variation in the dependent variable explained by independent…

Q: table below shows cost data for producing different amounts of saucepans. Suppo the information in…

A: The marginal revenue is the change in the total revenue when the one additional unit of output is…

Q: How much government revenue will be generated by the excise tax?

A: Revenue refers to the amount of money generated from selling a good or services. Government…

Q: If labor productivity in a steel mine is 3.5 tons per worker, then 400 steel workers with a fixed…

A: Labor productivity means the production capacity of a group of workers at a specific time.

Q: Refer to Figure 17.1. Economic growth is represented by   Group of answer choices a movement from…

A: The goal of economic growth is to increase national income while utilising resources sustainably. It…

Q: 3. Refer to Figure 1 above: If the market price for spinach is $4, should the farm continue to…

A: The average cost is the sum of the total cost of the items divided by the total quantity of the…

Q: What distinguishes the real value of a statistic from the nominal value of a statistic? Group of…

A: The nominal value of any economic measurement/statistic implies the measurement/statistic is…

Q: What is the equilibrium price in this market? Type your numeric answer and submit

A: Demand is the quantity of things that consumers are willing to purchase at a specific price and for…

Q: Nissan is advertising a 24-month lease on the all-electric Leaf for $190 payable at the beginning of…

A: Nissan is advertising a 24-month lease on the all-electric Leaf for $190 payable at the beginning of…

Q: 1. Describe how, if at all, each of the following developments affects the break-even and actual…

A: A break-even investment can be identified graphically or using straightforward mathematics; it…

Q: Amanda inherited P280,000 on her 30th birthday. She placed it on a pension fund which earns an…

A: Note: My dear student, As per bartleby guidelines I have done only one answering at a time. Please…

Q: A lent Php 5207 to B for 2 years and Php 5721 to C for 4 years on simple interest at the same rate…

A: Given  A lent PHP 5207 to person B for 2 years and PHP 5721 to person C for 4 years. Total interest…

Q: ion 10 et ered ed out of ag question estion 11 Swer saved rked out of 0 Flag question Carefully…

A: There will be shifts in both demand and supply depending upon the events. Those shifts will…

Q: A study at a college on the west coast reveals that, historically, 36% of the students are minority…

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Q: (C) Suppose a normal good X. Its price increases from pr to p > Pr. The quantity demanded of good X…

A: Here we are given the various situation where the price of a good changes. The resulting change in…

Q: Suppose that the supply and demand schedules for a product are as follows: Price Quantity demanded…

A: Price  Quantity Demanded Quantity Supplied  $1 1200 0  $5 1000 100  $10 800 200  $15 600 300…

Q: Purchase price = 500,000, installation fee = 10,000, tax = 10% of purchase price and installation…

A: What is Depreciation? Depreciation is the assessment of the decline in the value of an asset due to…