Short Answer 1. Two students are walking by a department store window that has on display a $400 dress. The English major declares, "I want that dress but can't afford it." The economics major replies, "No, you don't." Explain the logic of this reply.
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- Please answer the correct Explain ASAP draw the graph Don't answer by pen paper please ASAPDefine the following wordsUpscale hotels in the United States recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. A survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the Internet and the telephone, to transact business. Assume a company’s budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. Graphically illustrate how a 20 percent decline in the price of business travel would impact this company’s budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. Suppose that, after the price of business travels drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel marginal rate of substitution between electronic media and business…
- Can you explain with graphs as well pleaseComplete the following table. Units TFC TVC TC AFC AVC AC MC 0 24 0 1 24 28 2 24 54 3 24 75 4 24 96 5 24 126 6 24 168 7 24 214 8 24 264. 2. Draw AFC, AVC, AC, and MC on a graph. 3. Explain the relationship between AC and MC kindly solve all the sub parts.Q2)Complete the following table and illustrate by graph following variables (TFC. TVC. TC. MC) TFC TVC MC ATFC ATVC ATC 20 35 38 40 55
- Give only typing answer with explanation and conclusion Two friends are competing to see who can see the most Christmas lights in the month of December. Kenneth visits 3 festive houses per night. Ben visits 4 houses per night. How many total houses will they have seen in the 31 days of December?Please explain point 17What would be the Dependent and Independent variables of the following business problems. I need answer like table below
