pros and cons congressional legislation influence on the amount and price of labor

Q: There are only two people in the market - Amber and Zoe. Amber’s Marginal Willingness to Pay (MWTP)…

A: Here, Amber's marginal willingness to pay function is given as: MWTP=383-2Q And, Zoe's marginal…

Q: When a country moves from reliance on a single commodity (like oil) for export to a larger variety…

A: Countries attempt to foster growth and development in a variety of ways. Some policies rely on free…

Q: when the price of poke bowls is $7.5, sally buys an average of 4.3 bowls per week and when the price…

A: The elasticitiy of demand are determined as the percentage of the needed change in quantity to the…

Q: WHAT IS THE INFLATION RATE IF THE PRICE OF AN ELECTRIC FAN BECOMES P2000.00 IN 5 YEARS FROM THE…

A: The progressive erosion of purchasing power may be conceptualized as rising prices, sometimes known…

Q: The PPF bows outward because as we move from point A to point B to point C, the opportunity cost of…

A: Opportunity cost refers to the next best alternative forgone.

Q: Show that a monopolist facing inverse demand p(q) = q2 + 10 with constant marginal utility MC 5 will…

A: Demand function: p(q)=q-2+10            .......(1) Marginal utility: MC=5 First, we will find…

Q: A manufacturer of a product sells all that is produced. The total revenue is given by TR=7q, and…

A: Total revenue function of the manufacturer: TR=7q         .......(1) Total cost function: TC=6q+1…

Q: Using the graph on the next page, do the following problems: Determine the profit maximizing level…

A: The marginal cost (MC) curve is calculated by dividing the change in total cost by the change in…

Q: Air Quality Index is a way to measure particle pollution in the air. An index between 0 and 50 is…

A: A recent sample data of air quality index values are following: 50  52 59 56 58 The following…

Q: Elasticity of demand tells us:                       How much price responds to a shift in demand…

A: What is elasticity of demand tells us:

Q: The following graph shows the Laffer curve for several tax rates (20, 40, 50, 60, 80). Tax Revenue…

A: The demand curve shows consumer willingness and capacity to purchase a good at a particular price…

Q: B) II and IV

A: Correct option is BExplanation  II and IV

Q: In simple terms, what is a market? O The combination of competitors and customers O A place where a…

A: Market acts as an intermediary between the buyers and sellers.    Buyers buys goods and services…

Q: You may need to use the appropriate appendix table or technology to answer this question. Shoppers…

A: The Poisson distribution is often used to approximate the binomial distribution when the sample size…

Q: Below are two pairs of almond production cost curves showing technological change in irrigation from…

A: Optimal level of production is achieved at the point where marginal revenue equals marginal cost .…

Q: Capital is the sum of all the machines, plants, and office buildings in the economy. True  False

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Which of the following arguments can be used to correctly defend the WTO’s position on the…

A: Introduction The world trade organization was formed in 1995. Its headquarters are in Geneva. It is…

Q: 3. Suppose a monopolistically competitive firm's demand is given by P = 4,000-2Q And its cost…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: 5. Which entities in the Federal Reserve System control the discount rate? Reserve requirements?…

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

Q: This economy experienced a contraction in the years_________(Choose one of these: 1980-1981,…

A: Real GDP measures the value of economic outcomes adjusted for price fluctuations at the…

Q: 1. (Textbook problem 2, page 103) An economy has the production function Y=0.2(K+√N). In the current…

A: Production function : Y = 0.2 ( K + N0.5 ) K = 100 , N = 100

Q: The market demand for a product is Q=240-4P. At what price is the price elasticity of demand equal…

A: The degree to which the effective desire for commodity changes as the price(P) of that commodity…

Q: Use economic equivalence to determine the amount of money or value of i that makes the following…

A:

Q: The supply curve in long run is Select one: Horizontal line Up sloping Vertical line Down sloping…

A: The willingessness to sell the final good or service in the market at a reasonable price is known as…

Q: Assume that a national restaurant chain called BBQ builds 20 new restaurants at a cost of $1 million…

A:

Q: Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the…

A:

Q: A company's cost function is given as: TC = 25+ 30Q + 0.2Q² What is the equation for the company's…

A: Variable cost refers to the cost which changes with change in the level of output. The fixed cost…

Q: Why did costs for shipping containers increase so sharply during the pandemic? Check all that apply.…

A: Solution: The coronavirus pandemic caused a disruption in the supply chains and it lead to shortages…

Q: 1. Pedro made 24 payments of P200,000.00 each, and all payments are made at the beginning of each…

A: As here all the payments are being made at the beginning of the year. Hence this is an example of…

Q: It is most practical to raise GDP per capita in the short term and with almost full employment by:…

A: When everyone is able to obtain job at the going rate of pay, this is considered to be full…

Q: Assume Monopolistic Competition. Firm Demand: Q = 90 - 0.5P Firm Cost: TC = 100Q + 8Q² Solve for the…

A: ‘Monopolistic competition' is a kind of imperfect competition where there is a large number of…

Q: Due to heavy rains the price of ground produce increases. Which core principle is represented in…

A: A principle is often represented by a value that is desired or is being adhered to. It serves as a…

Q: Explain why it would never be optimal for the monopolist to choose ε^D=1, given positive marginal…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: ring to the Comparative Advantage Theory, in Figure 2 which product should specialized in? Which…

A: Comparative advantage is the situation at which a country has ability to produce a good at lower…

Q: Using a 15% MARR, $10,000 is equivalent to all of the following except: O a. $8,696 one year ago O…

A: To solve this question, we have to calculate the equivalent value of $10,000 one year ago, two year…

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A:

Q: consumer attains maximum utility when: Select one: a) Marginal utility per dollar spent is…

A: The concept of marginal utility (MU) is utilized by economists to compute how much of an item…

Q: 2. Cindy loves coke. She cares about total amount she has. Coke is sold in two sizes: one-liter…

A: The substitute goods are used for each others. Consumer can switch from one good to another if the…

Q: 15. Annual percentage yields to maturity of Treasury Bills, Notes, and Bonds on January 24, 2020 are…

A: Treasury bills(T-bills) are the instrument of the money market in which the investments are made for…

Q: You are charged this tax by the federal government on your yearly pay. This is: Income Tax. Sales…

A: In the United States, federal government charges different types of taxes for different purposes…

Q: A father wishes to provide P5,000.00 for his son on his 21st birthday. How much should be deposited…

A: given that, The amount a father provides to his son on his 21st birthday is =P5,000 The rate of…

Q: Price floors cause________________________ and price ceilings cause ______________________.…

A: Shortage refers to a situation where the quantity demanded of the good exceeds its quantity…

Q: 200 O 50 000 y 40 000 30 000 b 100 150 20 000 10 000 elastic 50 inelastic 100 50 150 200 X 200 X i O…

A: The degree to which the quantity desired or supplied responds to the price is known as elasticity.…

Q: Assume that the market price for beach towels increases considerably due to a worldwide shortage in…

A: Complementary goods are consumed together in a fixed proportion.

Q: You own a restaurant near the beach. Business has been growing each year, but obviously spikes…

A:

Q: Pedro made 24 payments of P200,000.00 each, and all payments are made at the beginning of each year.…

A: Given 24 payments made at beginning of each year = 200,000 P Time = 24 years Interest rate -= 18 %

Q: On January 1", an engineer borrowed 40,000 dirhams from a bank. He chose to repay the loan over one…

A: The periodic interest rate refers to the rate of interest paid or charged on a loan or realized on…

Q: The figure above shows the production possibilities frontiers for the United Kingdom and France.…

A: Opportunity Cost is the cost in terms of other goods which are foregone to produce the good we are…

Q: Draw a curve that shows the relationship between quantity and total revenue when the demand curve…

A: Given that the demand curve is linear so liner demand equation will be P=a-bQ      where a, b is…

Q: Mary makes year-end deposit of $4500, the first year increasing the year’s deposits by 8% until the…

A: According to guidelines we can attempt only first question.  Value of deposit = $4500 Interest rate…