QUESTION 2 The first-order derivative of the function may be useful for: O 3. Evaluating the approximate impact of a change in a variable on the left-hand side of the equation on the variable on the right-hand-side of the equation. O B. Identifying points that are relevant from an economic viewpoint, such as Marginal Revenue = Marginal Cost. O identifying a maximum, for example the price or level of output that a firm should set in order to maximise its profit. O d. All of the above.
Q: Which of the following is an example of a market inefficiency created by a monopoly? O Economies of ...
A: The correct answer is D. Deadweight loss It is the market inefficiency created by monopoly because...
Q: The Central Bank prints withdraws money from circulation and burns it. This will cause interest rate...
A: The rate of interest is decided by the demand and supply for money. The changes in the demand and su...
Q: Supply: -35 + 35P Demand: 205 -25P Where P is the price of good = {1,2,3,4,5,6,7,8} a. Plot and dete...
A:
Q: Employment Total Product Product Price $ 4 1 12 4 22 4 3. 30 4. 4. 36 4 5. 40 4 6. 42 Refer to the g...
A: In the mentioned question we have been asked how many employees will the firm hire. Given, cost = $2...
Q: Suppose the economy currently has an inflation rate of 7%. Moreover, the slope of the economy's Phil...
A: For a classical model of Phillips Curve we assume that the production function in economy is only a ...
Q: Suppose an amusement park lowere the price of admission. If the demand for admission is elavtic, the...
A: The measure that depicts percentage change in quantity being demanded with respect to percentage cha...
Q: The chart below shows a real wage index in England between 1260 and 1800. Figure 2.16: Real wages pr...
A: The below graph shows real wage index in England between 1260 and 1800. The Black Death, a catast...
Q: Teasha has worked in a gift store for the last two years and gained a lot of experience and knowledg...
A: Consider the scenario, to start a business of one's own an individual or an entrepreneur needs capit...
Q: Question 6 Demand management can be used by both fiscal and monetary policy. Suppose that fiscal pol...
A: Expansionary as well as contractionary fiscal policies can be taken in order to balance the economy ...
Q: A market research firm is interested in surveying certain attitudes in a small community There are 1...
A:
Q: Problem 3 Two options are being analyzed using a break even analysis based on net present worth with...
A: To answer the above questions we perform annual worth analysis based on the present value of the cas...
Q: Suppose you own a small deposit of copper and you plan to completely mine the copper this year and n...
A: Since the question you have posted consists of multiple parts, we will answer the first three questi...
Q: 5. The market for loanable funds and government policy The following graph shows the market for loan...
A: Scenario -1 Individual savings will benefit from increasing the maximum contribution to an IRA. A...
Q: Average total cost is equal to:
A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost me...
Q: Illustrate and explain the effect of the increased use of plant-based milk on the overall milk mark...
A: Plant-based milk choices have now grown in prevalence as of late, and a few commercial renditions ar...
Q: Company Z has the following data corresponding to the production function. Where (L) is the amount o...
A: Given Q=K0.4L0.6 ... (1)
Q: d) Is there any possibility that a government can increase the inflation rate without any change in ...
A: The Philips curve helps to show the relationship between inflation and unemployment. ? = ?π − 0.6 ...
Q: Aces & Queens, a talent and model agency that has experienced steady growth for a decade, gathers it...
A: Control and risk self-assessment (CRSA) is a framework that allows firms to analyse, assess, and bui...
Q: Consider a pair of Nike shoes. Is the consumption of Nike shoes rival and excludable? The consumptio...
A: Rival : means consuming a good by one person, lefts nothing for other. Excludable: if someone is not...
Q: Solve the exercise with a production function with diminishing returns: In this case, production inc...
A:
Q: ad suppose that The firm with flexible prices follow p =P+a(Y – Y), The firm with sticky prices foll...
A: DISCLAIMER “Since you have asked multiple question, we will solve the first three question for you....
Q: American corporations have in recent years turned to thepractices of downsizing and contingent emplo...
A: Considering the scenario, an economy facing a downturn or recession will choose to downsize its empl...
Q: Briefly explain the concept of universal health coverage and the strategies employed in Caribbean co...
A: The basic provision of health care to all individuals and communities regardless of their financial ...
Q: Answer this question for me mate. Much appreciated. :)
A: Government is the central government that increases the expenditure or taxes on an economy. It means...
Q: I live next door to an insomniac who plays jazz music every weekend late at night. It is loud enough...
A: The Coase theorem postulates that when property rights are clearly defined perfect competition resul...
Q: Shifts in the Supply Curve Directions Read the scenarlos below. Decide how the supply curve would ch...
A: According to bartleby answering guidelines we are allowed to first three parts of any question if it...
Q: ompensaton of Emplyees anunplon of Fred Capta ros investment nts erest aperts pots rporate Prts es o...
A: The gross domestic product minus depreciation on a country's capital goods equals the net domestic p...
Q: According to Sam, Stock S is better because it provides an annual dividend of P5. According to John,...
A: When talking about an investment market, it can be seen that people make their economic and financia...
Q: Suppose there are 2,000 potential consumers in the Chestnut Hill market for tablet computers. All co...
A:
Q: When comparing multiple alternatives: a) Choose the alternative with the greatest PW over the planni...
A: The planning horizon is the amount of time a corporation will look into the future when creating a s...
Q: Alvin Yu was born on January 1, 1988. On Jan. 1 1989, his father starts a fund that is intended to h...
A: Given, Year 1988 is year 0The Payments from year1 to year10 = 2000 (P)Withdrawls from Year18 to Yea...
Q: Suppose that the domestic demand and supply for milk in a small open economy are given by QD = 80 – ...
A:
Q: 1) Derive the IS curve. ) What happens to the IS curve if G increases by AG = 100 financed with a co...
A:
Q: local jobs. What strategies may a typical firm adopt to increase profits, even if only over the shor...
A: The firm maximizes profit where the marginal revenue is equal to the marginal cost. The firm predomi...
Q: Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and nutrit...
A: The marginal product of a business is the additional output created as a result of additional input ...
Q: Assume that two companies (C and D) are duopolists that produce identical products. Demand for the p...
A: Given; Demand function; P=600-QC-QD Total Cost function of C; TCC=25000+100QC Total Cost function of...
Q: Lara deposited 1000 in her bank account at the beginning of every quarter for 9.5 years. Interest pr...
A: Monye is determined on the basis of the rate of interest. The rate of interest increases then the mo...
Q: An amusement park has 1 000 visitors every Saturday and charges $55 per person to enter the park. Re...
A:
Q: Which of the following statements is true Select one: a. If economic profit is negative, accounting ...
A: Accounting profit is the difference between TR (total revenue) and TC(total cost). Economic profit, ...
Q: In 1988, Medicare cut the payment for open heart surgery by 2-15 percent. Answer the following quest...
A: Dear learner you have posted a question with multiple sub parts, as per our policy we have solved on...
Q: In a competitive market with free entry and exit from the market a permanent rise in demand will lea...
A: A permanent increase in demand raises market quantity, and the market price for each business climbs...
Q: 5. You receive payments of $10,000 per year from a family trust, but you don't need that money right...
A:
Q: ts Keep the Highest /3 nsumer Surplus e buys an iPhone for $150 and gets a consumer surplus of $200....
A: Equilibrium is achieved at the output level where Qs equals Qd
Q: A company sells an item for P10 each. If the manufacturing cost is P60k per month and the labor is P...
A: Break even point (units)=Fixed costSells per unit - Variable cost per unit Here, Fixed cost = 60,000...
Q: If the nominal interest rate is 7%, inflation is 4%, and the risk premium is 1.5%, what is the MP cu...
A: Let's show concider given Nominal interest rate = 7% Inflation = 4 Answer and explanation given...
Q: 15,000 =(1+r) 3500+24000 How do I find what is interest (r)? Please provide an breakdown of calculat...
A:
Q: 2. Winners and losers from free trade Consider the market for meekers in the imaginary economy of Me...
A: When it comes to economic development, there are always winners and losers. Here, we examine what dr...
Q: In South Korea's state-led industrialization, export subsidies allowed South Korean products (from S...
A: Industrialization is the transformation of an economy from one that is predominantly agricultural to...
Q: ____ a. individualistic capitalism____ b. political action committees____ c. oligopoly____ d. govern...
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...
Q: Identify the truthfulness of the following statements: i. A profit-maximising monopolist selects its...
A: We have given two statements about the production decisions of a monopolist. A monopolist has market...
Step by step
Solved in 2 steps
- 2. Models of inventory systems frequently consider the relationships among openingstock, production quantity, demand or sales, and closing stock. For a givenproduction period j, let Sj – 1 = closing stock from the previous periodXj = production quantity in periodDj = demand in period jSj = closing stock for period jRequireda) Write the mathematical relationship or model that describes how these fourvariables are related.b) What constraint should be added to produce capacity for period j is given bycj?You said that "this may result in a steeper AS curve due to the fact that firms can produce more output for a given price level.". However, I think that steeper AS without the change of y-intercept(shift) will have opposite effect. I drew a diagram to compare different As curves with same y intercept and different slopes. It is clear that for same level; of price level, steeper AS has loer output (Y2) than faltter AS (Y1), could u please explain it for me? Thanks a lot :)In the United States, labor earnings are about what percent of total income? O a. 75 percent O b. 70 percent O c. 67 percent O d. 50 percent Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
- a. Based on only the first-order condition with respect to labor computed in part a (Based on the given Lagrangian, compute the representative consumer's first-order conditions with respect to consumption and with respect to labor). Qualitatively sketch two things in a diagram with the real wage on the vertical axis and labor on the horizontal axis. First, the general shape of the relation ship between w and n (perfectly vertical, perfectly horizontal, upward-sloping, downward-sloping, or impossible to tell). Second, how changes in / affect the relationship (shift it outward, shift it in inward, or impossible to determine). Briefly describe the economics of how you obtained your conclusions. (Note: In this question you are not to use the first-order condition with respect to consump tion nor any other conditions.) b. Now based on both of the two first-order conditions computed in part a, construct the consumption-leisure optimality condition. Clearly present the important steps and…Ma2. Required: Question 3.(LO3 Apply) Simon Ltd is run by Simon Leather who makes leather belts for designers. He uses the finest Argentinean leather and needs highly trained machinists to make the belts up to the quality designers expect. His beits usually sell for £50 per item and use 0.2m² of leather and 30 minutes of labor. Simon Ltd has 5 staff. They work a standard 8-hour day, 5 days a week, 48 weeks of the year. They earn £15 per hour. Leather costs £20 per meter. Simon also has some variable overheads of £6 per unit. Fixed overheads are £28,800. a) Calculate the number of belts Simon will have to sell to break even. Simon decides to branch out and start to also sell handbags to the same market. The handbags sell for €250 each and use 1.5m² of leather with 1 hour of labor being required. Variable overheads are £20 per handbag. There has been a bad case of foot and mouth in Argentina. Simon can only use the leather he has currently being shipped to him for the next…15. Please select all that are true regarding variable costs (VC): Variable costs must be more than revenue for profitability Variable costs per unit are assumed to be constant in the relevant range of output Total variable costs are from all Q produced Variable costs are the total cost of producing a good or service Variable costs change over time Variable costs are assumed to be proportionate to Quantity Variable costs are the marginal profit per unit Variable costs are less of a risk than fixed costs since FC remain even at zero Q
- 6. Given the following Cobb-Douglas production function for Jordan Economy. Y = AK^0.7 L^0.3. What happens to the real rental price of capital (in percent) if capital stock increases by 10 percent? O. Real rental price of capital increases by 2.8 percent O. Real rental price of capital increases by A+ 2.9 percent O. Real rental price of capital increases by 6,9 percent O. Real rental price of capital decreases by 2.8 percent O. Real rental price of capital decreases by 6.9 percent O. None of the above is correct7. 3. Let u(x1, x2) be a regular definite bend-down function (DKAB-RSQC). If μ(x1,x2) = ψ(u(x1,x2)) and dψ/du>0, prove that μ(x1,x2) is also a regular definite downward bending function using the appropriate determinant conditions.3. Suppose that individuals with a strong enthusiasm for technology are willing to pay $500 now for the latest iPhone, but only $350 if they must wait a year. Normal people are willing to pay $250, and their desire to purchase does not vary with time. Assume for simplicity that there are equal numbers of each customer type (strong enthusiasm and normal), that the MC of the iPhone is $100, ignore the time value of money, and there are only two years. (Hint: With discrete problems consider all the different options and evaluate each of them to determine the optimal strategy. In this case, there are only three prices given and two time periods, so a total of 6 pricing strategies exist but some of them will.) What is the highest profit level that can be achieved if the price for an iPhone is fixed for both years (uniform pricing)? What is the highest profit level that can be achieved if the price for an iPhone can be altered across the two years?
- 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.A decrease in people's disposable income OA. increases investment demand. B. increases consumption. OC. decreases saving. O D. increases saving and decrease consumption. OE. increases saving. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.8) Suppose the production function for good q is given by q=3 ∙K+2∙ L where K and Lare capital and labor inputs. Consider three statements about this function:I. The function exhibits constant returns to scaleII. The function exhibits diminishing marginal productivities to all inputsIII. The function has a constant marginal rate of technical substitutionWhich of these statements are true?A) All of themB) None of themC) I and II but not IIID) I and III but not IIE) Only I .