LAST WORD Suppose that minimum efficient scale for producing items with a 3-D printer is 100 times what a typical family would consume in a year Would you expect each family to have its own 3-D printer? What sort of industry structure might arise?
Q: Using the money market, which process best explains what happens to the interest rate when income…
A: Money market determines the equilibrium interest rate where quantity of real money balances equals…
Q: . In terms of Adam Smith’s concept of the invisible hand, an efficient overall allocation of…
A: Concept The invisible hand is the idea that free markets will find a balance in market forces for…
Q: If the money supply is growing at a rate of 8 percent per year, real GDP (real output) is growing at…
A: The velocity of cash can be determined as the proportion of ostensible GDP (GDP) to the cash supply…
Q: Question 4' A firm's long-run total cost is TC(Q)=402-10Q²+Q³. Over what range of output does the…
A: Total cost of production is the total expenditure incurred by the firm on the factors of production…
Q: Suppose we have the country of Melanie-opolis. Further suppose that we have the following: . People…
A: Gross Domestic Product refers to the sum of all the value of goods and services that the firms and…
Q: Consider the Cobb-Douglas production function: 1. Derive the conditional input demands. 2. Derive…
A: Answer to question 1 is:
Q: Describe the FOUR classical types of potential market failure, in detail, and provide examples of…
A: In the free market, market failure is characterized as an inefficient allocation of goods and…
Q: 7. On January 12th 2010 a devastating earthquake with a magnitude of 7.3 struck Haiti. As a result,…
A:
Q: Neuratility of money means that an increase in the quantity of money Raises all prices in the same…
A: Neutrality of money states that the money is a factor which is neutral in behavior and it has no…
Q: .Explain the common features of the istorical reasons for the emergence Nordic economics? Explain
A: Concept of Nordic economics The Nordics of Norwegian, Icelandic, Swedish, Finland, and Denmark…
Q: a. You work for a certain firm that is the sole provider of water services in a city. The market…
A: Monopoly is a market situation where by there are many suppliers but the buyer is only one. In this…
Q: 8. Hospital Profit Maximization A. Below are two figures representing profit-maximization in two…
A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…
Q: occurs when workers have left long term jobs but have not fully withdrawn from the workforce.
A: Answer: Note: only an incomplete statement is given thus it seems to be a fill-in-the-blank. Bridge…
Q: ng graph shows the monthly demand and supply curves in the market for teapots. the the graph input…
A: A market is said to be in a condition of equilibrium when supply and demand are in a condition of…
Q: Answer the following questions on the basis of the following three sets of data for the country of…
A: Aggregate supply:- Aggregate supply indicates the amount of production that enterprises would…
Q: 8. Property rights and market failures Loggers are much In the presence of market failures, public…
A: At the marketplace, property rights are the government provided protection to the market firms when…
Q: 8. (3.9) Auditing the Fed? In recent years, several members of Congress have sponsored bills that…
A: One of the most critical functions of the United States Congress is oversight. Congressional…
Q: Yvonne’s father was a true believer in “giving back.” He endowed a program 35 years ago to help…
A: Given:Future value (FV)=$36000r=8%n=1 year
Q: An American (USA) car currently costs $18,000 while the equivalent United Kingdom (UK) car costs…
A: (PPPs) are the paces of cash change that attempt to adjust the buying force of various monetary…
Q: Theory of The Firm f(1₁,1₂)= Ar₁"1₂-9 Consider the Cobb-Douglas production function: 1. Derive the…
A: Answer to question number 2 is as follows:
Q: using economic concepts , discuss the impact of the following events on the equilibriumprice level…
A: Contractionary monetary policy is used by a central bank in order to slow down the economy, with the…
Q: nswer the following questions using economic concepts: when most people want to know the cost of an…
A: Opportunity costs refer to the benefit that is sacrificed that would have been received from the…
Q: Question: State the macroeconomic effects of budget deficit
A: Macroeconomy is that part of economics that deals with the economy as a whole. It covers the…
Q: How does a Loan to Value Ratio (say an 80% LVR limit) achieve the objectives of Macro-prudential…
A: In reducing systemic risk, macro-prudential regulation has been quite effective. crucial,…
Q: B. The figure below shows the market of physician visit. Current market price for each physician…
A: Consumer surplus is unlimited when the demand curve is zero and inelastic in the circumstance of a…
Q: Being "early to market" with a new product often results in grabbing relatively high levels of…
A: For a cash flow diagram - Cash inflows are denoted as up arrows Cash outflows are denoted as down…
Q: 1. Tim has borrowed money from Lisa and proposed to pay back the money in two payments. Tim…
A:
Q: How ‘Health Card’ scheme function ethically in our country for providing reliable and timely health…
A: Although health developments have improved in low-income and middle-income countries (LMICs) in the…
Q: Total cost function of a perfect competitive firm is: TC = Q² + Q +225 a. At P = 35$, calculate Q*…
A: In perfect competition there are many firms producing identical goods. This makes firms price takers
Q: 10. Which of the following ways can monopolies be formed? Select all that apply. A company may merge…
A: A monopoly refers to a form of market in which a single seller sells a product with no close…
Q: What are the main transmission channels for monetary policy? Prove explanations in detail with an…
A: Monetary policy Monetary policy is the tool of a central bank of the nation by which the central…
Q: A small plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so…
A: Costing is a critical component of running a business. We usually divide the cost of any…
Q: using economic concepts , discuss the impact of the following events on the equilibriumprice level…
A: The aggregate supply is the total amount of services and commodities that firms in an economic plan…
Q: Using the supply and demand analysis of the market for reserves, indicate how the following…
A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…
Q: A10 Write three econometric models capturing 1) overall; 2) within; and 3) between variation
A: Econometric models Econometric models were built from economic data and are utilized with…
Q: 43. A "think local, act local" multicountry type of strategy A. is very risky, given fluctuating…
A: Think Local, Act Local is a marketing strategy which should be adopted by businesses for making…
Q: The production engineers at Impact Industries have derived the optimal combinations of labor and…
A: Economies of scale refers to decrease in average cost when output increases, and there are…
Q: The best way to increase margin from customers is to: Group of answer choices: a. Ensure that the…
A: Cost of Conflict is a device which endeavors to compute the cost of contention to mankind. The…
Q: Is the following statement true or false? Given is the graph below of the oil market. Without the…
A: Here, the given graph shows the before tax and after tax outcome of the market.
Q: A. The RBA (Reserve Bank of Australia) is concerned about the trend since the early 2000s of a 75%…
A: Introduction Question related to the topic study of economics among students.
Q: 1. When real GDP declines during a recession, what typically happens to consumption, investment, and…
A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…
Q: Assuming a fixed exchange rate policy, discuss the effectiveness of contractionary fiscal policy…
A: The fixed exchange rate system is when a currency is pegged with another or standard currency, there…
Q: Which of the following document is NOT a part of the International Bill of Human Rights? O 1.…
A: The United Nations' five key human rights treaties make up the International Bill of Human Rights,…
Q: There are two types of open market operations carried out by the central bank, dynamic and defensive…
A: Open market operations, sometimes known as OMO are when a central bank buys or sells short-term…
Q: The demand for money in an economy is high when the Oa. interest rate is high. Ob. price level is…
A: At the marketplace, money is demanded by the people if the country to make consumption and…
Q: Fishing Designs has arranged to borrow $14,000 today at 15% interest. The loan is to be repaid with…
A: Present amount P =$14000 Rate of interest =15% End of Year payment at the end of years 1 through 4…
Q: If a good imported from abroad creates significant pollution (a negative externality), then the…
A: Externalities are the harmful or beneficial side effects arise out of production or consumption of…
Q: Review the lifestyle and life-cycle determinants of tourism demand that affect the travel patterns…
A: The life cycle phase is consistently an essential determinant in tourism demand because individuals…
Q: 6. The constant returns to scale assumption in the endogenous growth model implies that: A)…
A: Answer - "Thank you for submitting the questions.But, we are authorized to solve only one question…
Q: TRUE/FALSE. Brietly explain your answer. a) The real business cycle model is very helptul because we…
A: Monetary policy is a bunch of activities that can be embraced by a country's central bank to control…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Suppose that the pen-making industry is perfectly competitive. Also suppose that each current firm and any potential firms that might enter the industry all have identical cost curves, with minimum ATC = $1.25 per pen. If the market equilibrium price of pens is currently $1.50, what would you expect it to be in the long run? LO11.2 a. $0.25. b. $1.00. c. $1.25. d. $1.50.A software company in Silicon Valley uses programmers (labor) and computers (capital) to produce apps for mobile devices. The firm estimates that when it comes to labor, MPL = 5 apps per month while PL = $1,000 per month. And when it comes to capital, MPC = 8 apps per month while PC = $1,000 per month. If the company wants to maximize its profits, it should: LO16.5 a. Increase labor while decreasing capital. b. Decrease labor while increasing capital. c. Keep the current amounts of capital and labor just as they are. d. None of the above.Last year, you estimated you would earn $5 millionin sales revenues from developing a new product.So far, you have spent $3 million developing theproduct, but it is not yet complete. Meanwhile,this year you have new sales projections that showexpected revenues from the new product will actually be only $4 million. How much should you bewilling to spend to complete the product development? [LO 1.2]a. $0 .b. Up to $1 million .c. Up to $4 million .d. Whatever it takes
- Average total cost tells us the O 1) cost of the last unit of output, if total cost does not include a fixed cost component. 2) variable cost of a firm that is producing at least one unit of output. 3) O 4) total cost of the first unit of output, if total cost is divided evenly over all th units produced. cost of a typical unit of output, if total cost is divided evenly over all the uni produced.Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles, and the labels was $700. In addition, it took her 20 hours to make the ketchup and to do so she took time off from a job that paid her $20 per hour. Linda’s accounting profit is while her economic profit is. LO9.1 a. $700; $400 b. $300; $100 c. $300; negative $100 d. $1,000; negative $1,100Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre brings in $1,000 in revenue. Each worker’s equipment costs the worker’s employer $150 per month to rent and each worker toils 40 hours per week for four weeks each month. LO17.6 Now consider the employer’s total costs. These include the equipment costs as well as a normal profit of $50 per acre. If the firm pays workers the minimum wage of $6.20 per hour, what will the firm’s economic profit or loss be per acre? At what value would the minimum wage have to be set so that the firm would make zero economic profit from employing an additional low-skilled worker to clear woodland?
- Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one more worker, the firm’s total monthly revenue will increase from $50,000 to $58,000. If he adds one more tractor, monthly revenue will increase from $50,000 to $62,000. Each additional worker costs $4,000 per month, while an additional tractor would also cost $4,000 per month. LO16.5 a. What is the marginal product of labor? The marginal product of capital? b. What is the ratio of the marginal product of labor to the price of labor (MPL/PL)? What is the ratio of the marginal product of capital to the price of capital (MPK/PK)? c. Is the firm using the least-costly combination of inputs? d. Does adding an additional worker or adding an additional tractor yield a larger increase in total revenue for each dollar spent?Why would a firm be happy to earn zero economic profits? Because zero economic profit means that the firm earns Select one.O. enough in total revenues to pay for all the fixed cost and some but not all of the variable costs.O. enough in total revenues to pay for all the accounting costs but none of the opportunity costs.O. zero accounting profit.O. enough in total revenues to pay for all the accounting costs and all of the opportunity costs.. Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople’s productivity. Currently, each salesperson sells an average of one car per day while being paid $20 per hour for an eight-hour day. LO17.8 What is the current labor cost per car sold? Suppose that when the dealer raises the price of labor to $30 per hour the average number of cars sold by a salesperson increases to two per day. What is now the labor cost per car sold? By how much is it higher or lower than it was before? Has the efficiency of labor expenditures by the firm (cars sold per dollar of wages paid to salespeople) increased or decreased? Suppose that if the wage is raised a second time to $40 per hour the number of cars sold rises to an average of 2.5 per day. What is now the labor cost per car sold? If the firm’s goal is to maximize the efficiency of its labor expenditures, which of the three hourly salary rates should it use: $20 per hour, $30 per hour, or $40 per hour?…
- 6.Which of the following are short-run and which are long-run adjustments? LO3 a.Wendy’s builds a new restaurant. b.Harley-Davidson Corporation hires 200 more production workers. c.A farmer increases the amount of fertilizer used on his corn crop. d.An Alcoa aluminum plant adds a third shift of workers.In the short run, the marginal cost of the first unit of output is $25, the marginal cost of producing producing the third unit of output is $14. The firm's total variable cost of producing three units of O a. $39. O b. $25 O c. $33.. O d. $57.4.Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college? LO2