Measuring Inequality: Consider the following (roughly measured) distribution of income in th economy: Share of Households Cumulative Share of Income 1/12 1/4 3/8 1 a. Draw the Lorenz-curve for the economy. 1/4 1/2 3/4 1

Q: 1.) During the early months of the pandemic in 2020 a.) the price elasticity of demand for some…

A: When talking about initial pandemic situation, it can be seen that there was a high fluctuations in…

Q: INFINITE REPETITION Consider the infinitely repeated game constructed from the following stage game.…

A: Given pay off matrix

Q: MR AC (ATC) TC MC Profit +/ TR $170 $0 $95 $160 $195 %$4150 $145 $140 $127 4. $130 %$116.25 $120…

A: In a monopoly, Marginal revenue curve lies below the demand curve which implies the seller can has…

Q: 1) The most important goal of the firm is to? A) maximize its sales volume.​​ B) maximize its…

A: A firm is defined as a company or institution that buys and sells items and/or services to customers…

Q: #4 Use the IS-MP model to show what happens when the Federal Reserve raises the federal funds…

A: Dear student, you have asked multiple questions in a single post.To get the remaining questions…

Q: Show in a graph a situation when a competitive firm will minimise loss in the short run. Why will…

A: A situation when a competitive firm is making loss in the short run Here, MC= marginal cost MR =…

Q: An externality arises when one economic agent's actions affect the welfare of others in ways that…

A: There are two externalities that can be considered here, either it can be positive externalities or…

Q: If a TV show has a rating of 8.0/16.0 what does it mean? а. 8% of all televisions in use at the time…

A: The correct option is a. If a TV show has a rating of 8.0/16.0, it means that 8% of all televisions…

Q: Interest rate risk; a. is the risk that a bond's coupon rate may change over time b. is lesser for…

A: In a market, interest rate works as the price of a specfiic investment as it is the cost for a…

Q: 5. 19. In the Mundell-Fleming model with a floating exchange rate A) monetary policy does not…

A: The economies around the globe are involved in the international trade with each other. The nations…

Q: Suppose Jackie runs an apple farm. Jackie has one fixed factor of production. Suppose that Jackie's…

A: In a typical short-run average cost curve, the shape is U-shaped with the minimum value of the cost…

Q: Since the short-run Philips curve is downward sloping and the long-run Phillips curve is vertical…

A: Phillips curve states that the inflation and unemployment are inversely related.Inflationary…

Q: A monopolist's demand curve: O is perfectly elastic. is the same as the market demand curve. O is…

A: Monopoly is defined as a market structure in which there are no substitutes for the product and the…

Q: Internal balances Multiple Choice Represent activity between the governmental funds and enterprise…

A: Internal balance refers to a scenario in which real production is at potential or near full…

Q: . What other policy alternatives, generally, are available to address the externality?

A: A cost or benefit incurred or received by a producer that is not paid for by that producer is known…

Q: Example (4): Find the value of sales from the follOwing information 1- Ordinary shares 600 dinars 2-…

A: The acts that lead to the sale of products or services are referred to as "sales."Sales…

Q: 8. Economists have argued that an Earned Income Tax Crodit is preferable to an increase in the…

A: When an economist analyzes some issue that will affect or affect the economy then they may analyze…

Q: What are the disadvantages of petrol subsidies?

A: Subsidy is a defined as the form of Government help which is provided to lower down the price of…

Q: h of the following are arguments in favour of active stabilization policy by the government? Check…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…

Q: Consider the following firms. Would you regard any of them as a monopoly? Why or why not? Could you…

A: Monopoly is defined as a market structure where there is only a single seller of a product that has…

Q: The statements given reflect either Micro or Macroeconomic issue. indicate in each case which you…

A: Microeconomics is the branch of economic theory concerned with the behavior of individual economic…

Q: The cost of the average consumer’s basket of goods and services in 2018 is roughly 10 times what it…

A: Goods and services are the result of economic system.

Q: Inflation Unemployment If the Phillip eurve shows that unemployment is low and inflation is high in…

A: In an economy, the Philips curve is used by economists to analyze the economic growth of that…

Q: 100,0 6) Suppose yo produces net cash flow (i.e., R-E) of $30,000/yr. The terminal value is zero.…

A: To find the present worth of above asset characteristics we formulate the cash flow . GDS…

Q: good, A is the alternative price of an alternative good, and Y the incor e consumers. nen P= 6, A =3…

A: The Income elasticity of demand is the amount demanded of a specific item relies not just upon its…

Q: nalization described in my notes, Section 11.1. If the manufacturer he wholesale price equal to its…

A: Marginal profit is the expansion in profits coming about because of the development of one extra…

Q: What is the overall state of transforming health amidst the fourth industrial revolution

A: The Industrial Revolution, which took place between about 1760 and 1820 in Great Britain,…

Q: What could importers such as the Chinese airlines have done to limit the negative impact of a…

A: A reduction within the value of a currency in terms of its rate versus other currencies is…

Q: All of the following, except one, could have caused the increase in aggregate demand from AD1 to…

A: Here, the given graph shows the aggregate demand and aggregate supply curve of Canada with a…

Q: What are the major characteristics of oligopoly and monopolistically competitiive market structure?…

A: Monopolistic competition refers to a market state with high levels of competition among companies…

Q: QUESTION 4 Which areas represent producer surplus at market egulibrium? OA+B•C OD•EF QUESTION S…

A: equilibrium is achieved at a point where demand curve intersect the supply curve.

Q: A Installed cost $12,000 $15,000 Uniform annual benefit $1,800 $1,930 O&M annual expenses $450 $350…

A: Given MARR = 10 % Here Both projects will be compared on the basis of Internal Rate of Return

Q: An auto manufacturer is considering adding new automation to their assembly line to production…

A: *Answer:  As per the beta distribution, the average revenue for an year can be calculated as:…

Q: Let S represent the amount of steel produced (in tons). Steel production is related to the amount of…

A: Given input prices  W=50 and r= 100

Q: : An economy is described by the following equations: Z=C+l+G C=600+0.6(Y-T) I=300 G=700 T=600 ) :…

A:

Q: Bruce deposited $100 into the bank account. The account is credited with interest at a nominal…

A: The correct answer is given in the second step.

Q: A deposit of $37436 now at an interest rate of 10% per year will accumulate in 10 years to an amount…

A:

Q: Briefly explain why quantifying sk is important to decision making Why is it important to quantity…

A: Risk refers to probability of occurrence of unexpected event.

Q: The average household income in the United States in 1975 was $13,800 and Consumer Price Index was…

A: A consumer price index (CPI) is a price index, the price of a weighted average market basket of…

Q: MS. Anna ates an lce cream store wmile sne OTfers eping services to Her in 2018, her gross sales…

A: A tax obligation is an amount of money that you must pay to the government. It is the entire amount…

Q: Camille's utility is given by U(x, y) = x0.5y0.5. She has an endowment of x = 100 and y = 100, while…

A: U(X,Y) =( X^0.5) (Y^0.5) Now, MUx =  0.5 (Y^0.5)/ (X^0.5)   Also, MUy = 0.5 (X^0.5)/ (Y^0.5)   MRS =…

Q: The benefit that John gets from eating an additional grape is called the the grape. 中 A. demand for…

A: Total utility refers to total satisfaction derived from consuming a good. Demand curve shows an…

Q: Justify teachings of property law to students of economics

A: Private property refers to the ownership of resources by private individuals without any government…

Q: How can we improve or fix the state of healt given the existence of the fourth industrial…

A: The Fourth Industrial Revolution is an approach to portraying the obscuring of limits between the…

Q: The inverse demand function is p=50−0.5​Q,   what is the price elasticity of demand and revenue at…

A: Elasticity of demand measures the responsiveness of quantity demanded to changes in price level

Q: 3. Han Solo is delivering illicit cargo to the rebel forces on Alderaan, a planet blockaded by the…

A: In economics, "utility" is a metric for how happy or satisfied an economy's members are. In research…

Q: Economic profit is the difference between total revenue and the A) costs of resources bought in…

A: Economics is the study of the scarcity of resources and unlimited wants. The scarcity of resources…

Q: 8. (Short-run vs long-run) Consider the following cost minimization problem min(L, K) rK + wL + F…

A:

Q: In your words describe and or explain the relation between savings and investment in an open market.…

A: an economy where goods and services are exchanged with different nations absent of any guidelines or…

Q: 3) Anna, Bob, and Catherine have the following willingness to pay for product A and product B:…

A: Sold Separately: Product A: If the price of product A is $30 then all the three consumers will…