Question 1. What is the difference between normative and positive approaches to public policy?

Q: Goods Grapes Textiles Note: figures are ho

A: If France has a labour force of 30,000 hours of labour , after trade begins , it will produce _ .

Q: The daily demand for pizzas is where P is the price of a pizza. The daily costs for a pizza company…

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Q: What is the capitalized cost of a machine with an initial cost of $250,000, maintenance and…

A: Capitalised cost is the present worth of the project with infinite life.  CC = A(P/A, i, n).

Q: Can you please show an example that will illustrate understanding of economic concepts through…

A: The phrase "economic principle" refers to a wide variety of economic theories and principles that…

Q: Jerry Maguire is making two products Abra and Cadabra in its plant location in Smallville. The cost…

A: Total cost of 4,500 units of abra and 1,500 units of cadabra = fixed cost  +   variable cost  =…

Q: The minimum wage is an example of O a price ceiling a command economy a price floor the free market

A: The minimum wage refers to a lowest remuneration that employers will be legally paying to their…

Q: Andry produces all-natural tote bags. She currently hires 20 workers who produce 240 bags a day. If…

A: The marginal product of workers measures the change in the total product due to a change in workers…

Q: When a famous painting becomes available for sale, it is often known which museum or collector will…

A: * SOLUTION :-  From the above given information the answer is given below as

Q: Which of the following is an example of an IS shock? i. A change in interest rates ii. A change in…

A: What is a Supply Shock? A supply shock is a powerful reaction to the price of a product because of…

Q: Most of the investment decisions in the U.S. economy are made by a. consumers. b.…

A: The decisions on investment are made in the consideration of the variety of factors such as the…

Q: PRICE (Dollars per ton) 1190 Domestic Demand 1140 1090 + 1040 990 940 890 840 790 740 690 0 10 20 30…

A: Equilibrium is achieved at the output level where quantity supplied equals quantity demanded.

Q: Stores commonly offer a cheaper unit price for large quantity purchases. Quantity 1 2 5 10 20 Unit…

A: For the two-variable regression model, the slope coefficient is calculated as…

Q: You see the following rates for NZD (New Zealand dollars) versus  AUD (Australian dollars) in the…

A: Covered Interest Arbitrage :   Borrow NZD 1 million @ 3% 6 months NZD interest rate. At the end of…

Q: Consider a marriage market with three men and three women, all of whom prefer any match to being…

A: The stable marriage problem is to find stability between two different but equal sized data sets. In…

Q: Could I have a graphical representation of question c?

A: In this case, we have to know the term private savings, public savings and national savings. Private…

Q: Part 1: Spatial Equilibrium The demand in market 1 is D₁ = 24 - P₁ The supply in market 1 is S₁ = -2…

A: Equilibrium is attained in the market at the point where the demand and supply are the same. At the…

Q: A monopolist sells good Q and demand is Q = 10-P, where P is price. The firm must Choose to produce…

A: a monopoly is the sole producer of a good thus having maximum market power thus acts as a price…

Q: Given the following aggregate production function: Y = K0.25 (AL) 0.75, where technology A grows at…

A: Given information:  Y = K0.25 *(AL)0.75 A/A = g

Q: Calculate the growth rate in real GDP for 2012. (using 1 decimal place Calculate the growth rate in…

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Q: In 2018, the U.S. GDP was approximately $ 2.5 trillion. However, India is growing faster than the…

A: The rule of 70 helps to know the number of years it will be taking for a variable to double. The…

Q: Which of the following liberalized free trade among Canada, the United States, and Mexico in the…

A: The transfer of commodities, services, money, and technological advancements between nations is…

Q: QUESTION 5 For the below ME alternatives, which machine should be selected based on the AW analysis.…

A: When more than two alternatives are offered for a project and their lifespans differ, the annual…

Q: Calculate the growth rate in real GDP for 2012. (using 1 decimal place • Calculate the growth rate…

A: Nominal GDP is the total value of goods produced at a particular time period while real GDP is the…

Q: MATCH THE terms in the Definition. . A sustained rise in the average price level over a period of…

A: Professionals can predict the path of the economy by keeping track of the cycle. All the sectors of…

Q: monopoly firm faces the following average revenue (demand) curve: P = 360 − 0.04Q where Q denotes…

A: Given information:  : P = 360 − 0.04Q  C = 60Q + 5000 MC = 60

Q: 0 10 $5,000 20

A: Formula to figure out the present value is given as:  P = F(1+R)nP : present value F : future…

Q: Absolute Advantage

A: Absolute advantage is the abitlity of the country to produce a product more effeciently than another…

Q: Discuss, any three forms of non-tariff trade restrictions that government officials impose to limit…

A: The term "trade restrictions" refers to the numerous policy tools the government uses to limit the…

Q: Quota O people who favor trade barriers that protect domestic industries O tax placed on imports to…

A: Quota is a trade barrier imposed by importing country.

Q: Are Uber drivers are independent contractors or employees? Why is it difficult to define?

A: There have been many debates in various countries regarding the status of uber drivers. Uber and…

Q: Consider Snackistan, a hypothetical country that produces only burritos. In 2019, a burrito is…

A: Government spending implies money spent by the public sector on the acquisition of products and…

Q: A tractor for over-the-road hauling is to be purchased by AgriGrow for $90,000. It is expected to be…

A: Given information Initial cost=$90000 Salvage value after 6 years=$4000 Transport cost…

Q: A firm is considering hiring a worker and providing the worker with general training. The training…

A: The labor market is an important part of the business sector. The cost of a product or service…

Q: Axel's business has grown to the point where he had to hire a payroll department and HR department…

A: Diseconomies of scale is when the firm is experiencing the increasing average cost when output…

Q: he marginal product of labor  is the   Question 6 options:   a)  increase in total cost…

A: Macroeconomics refers to the branch of economics dealing with the performance, structure, behavior,…

Q: a manufacturer produces certain items at a labor cost of 150 each, the material cost is 75 each, and…

A: Break-even units means the number of units that are needed by a company to sell.

Q: Course: Microeconomics Consider a consumer who has income equal to 100 and who faces prices Px = 2…

A: Budget constraint: given the price of 2 goods and consumer’s income. The budget constraint shows…

Q: Which of the following is a challenge of government setting a price floor? Which of the following…

A: The floor price is the minimum price below which a price can not fall. The floor price set by the…

Q: The Obama administration (as the previous Bush administration did) stated that the stimulus package…

A: Economy An economy is defined as the production, distribution, and trading of products and…

Q: The demand in market 1 is D₁ = 24 - P1₁ The supply in market 1 is S₁ = -2 + P₁ The demand in market…

A: Given function D1=24-P1 S1=-2+P1 D2=16-P2 S2=2+P2 Cost of transportation Pt=2

Q: Harry is a sports car enthusiast. He currently owns a 1990 Mazda MX5-Miata. The car is in great…

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Q: You’ve been given a firm’s production and cost functions: p = 132 −2q M C = 12 + 4q Assume this…

A: A monopoly is sole producer of a good this having maximum market power hence acts as a price maker.

Q: A process control manager is considering two robots to improve materials-handling capacity in the…

A: Given information:    Robot X Robot Y First cost (in $) -78000 -146000 M&O cost (in $)…

Q: A feasibility study involves ______.   a. the creation of detailed financial projections and cash…

A: A feasibility study's main purpose is to help the entrepreneur make a decision to go for a project…

Q: Use the information in the following table to answer the questions below. Assume you are dealing…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: The equation for a supply curve is P = 3Q - 8.  What is the elasticity in moving from a price of 4…

A: Price elasticity of supply: It measures the percentage change in the quantity supplied for a 1%…

Q: If Jonathan received an $1200 bonus and his MPC is 0.70, his consumption rises by $ and his saving…

A: Marginal propensity to consume shows the how much of income will be devoted to consumption.  MPS = 1…

Q: Match the term with the Definition Problem: Unemployment Indicator: Unemployment Rate Problem:…

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

Q: If the slope of the total productivity line is decreasing as output increases, what does that say…

A: Marginal product is the increase in units if goods due to the additional unit of worker.    Marginal…

Q: Let W represents an individual's annual earned income and U(W) = (W/10)0.5 is this individual's von…

A: A individual or business seeking insurance against specific risks pays an insurance provider an…