Q: Consider the following strategic form gam L M R 2,4 1,2 0,1 D 1,0 1,1 3,3
A: E(U) = 2q1 + 1q2 + 0(1-q1-q2) (Strategy 1) E(D) = 1q1 + 1q2 + 3(1-q1-q2) E(U) = E(D) 2q1 + 1q2 + 0 ...
Q: Mike from Minnesota and Caty from California are trading fresh water fish (bass) and salt water fish...
A: Given information: Mike catches a number of bass = 100 bass Caty catches a number of salmon = 50
Q: Data from the Bureau of Labor Statistics shows that U.S. income increased by 10% while consumer data...
A: Change in income=10% Change in quantity demanded=∆in quantity demandedInitial quantity demanded×100C...
Q: What is keenness to consume in economic development?
A: Consumption is distinct from consumption expenditure, which is the purchase of goods and services fo...
Q: The transmission mechanism of monetary policy is how central banks attempt to control the price leve...
A: Monetary policy is the policy instrument of central bank under which it aims to control the money su...
Q: Question 18 Restaurant Supply, Inc. sells cheese to Windy City Pizza for $1,000. Windy City Pizza us...
A: Given: Restaurant supply selling cheese to Wincy City Pizza=$1000 Windy city pizza sells to consumer...
Q: 5. Number the following supply curves from lowest to highest elasticity.
A: Flatter curves are associated with greater elasticity and steeper curves are associated with lesser ...
Q: Market for Internet Quantity Quantity Price ($ per Demanded Supplied (units month) (units per per mo...
A: Initially the demand is measured on X axis and supply is measured on y axis . The equilibrium is est...
Q: A5
A: Poor communication can lead to disaster in any aspect of life. In the workplace setting, poor comm...
Q: Wells Fargo Bank sells a $1,000 Treasury security to a securities dealer. The dealer pays for the s...
A: Money Supply: - In an economy, the total value of money in circulation at a point in time is known a...
Q: How does the Solow growth model explain economic growth?
A: When talking about economic growth, there are different theories and models developed by economists ...
Q: Assuming global marketer is from the US and the US dollar to INR dropped from 1 USD= 70 INR to 1 US...
A: The relative price of local products and services lowers when the dollar depreciates and the exchang...
Q: Year Lab 2000 142 2001 143
A: Labor force in 2019 = 163,539,000 Unemployment rate = 3.7 %
Q: Draw a map of indifference curves for a person in the following cases: She likes vegetables twice as...
A: Indifference curve shows the combination of two goods that give the consumers same utility or satisf...
Q: 3. Suppose that as the income level increases by 10% that the quantity demanded of that same item in...
A: Income Elasticity is the responsiveness in quantity demanded to the change in income level . And th...
Q: Suppose that demand for automobiles increases by 20% when consumers’ incomes increase by 15%. What i...
A: Introduction: Elasticity of demand is that the responsiveness of a commodity's quantity demanded to ...
Q: In a company operational activities are performed to fabricate products or to provide services. With...
A: Introduction Operational activities of a company has given. Primary cost of different product or ser...
Q: 7- Define the budget constraint and what does the slope of the budget constraint represent?
A: In Economics, budget is defined as a spending plan which is based upon the income and expenses of a ...
Q: Quantity Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Av...
A: Here, the given table shows different types of cost incurred in the production process and the missi...
Q: If the elasticity of demand for a commodity is estimated to be 1.5, then a decrease in price from OR...
A: Price elasticity of demand is a measurement of the change in the consumption of a product in relatio...
Q: y1=100, y2=20 beta=0.5 and i=0% Calculate optimal saving s=______
A: Introduction: The savings rate is a measurement of how much money a person deducts from their dispos...
Q: Data for movie tickets Quantity demanded Price ($ per ticket) (tickets per day) 7 300 8 200 100
A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in pric...
Q: •Consider the exogenous growth Solow-Swan model. An increase in the sav- ing rate increases the "bal...
A: When we will be going to discuss about the solow growth model which can be exogenous can be consider...
Q: Question-2 Explain by applying these concepts with examples. 1. Rational people respond to incentive...
A: Clarify by applying these ideas with models. 1. Rational individuals answer to motivating forces 2. ...
Q: Assume in a given company the marginal productivity can be characterized by the following function M...
A: At the marketplace, a firm tries to maximize its profit, due to which it makes constraints for resou...
Q: What is the Nash Equilibria of the following game? Penalty Game Keeper L R Striker L 1,-1 -1, 1 R -1...
A: We will find the mixed strategy Nash equilibrium of the given game. Mixed strategy is the randomizat...
Q: A consumer has product happiness function c1*c2. When this consumer eats 5 apples and 3 bananas, the...
A: Happiness function: - It shows the functional relationship between the consumption of goods and serv...
Q: The price of petrol increases by 20% and remains at the new higher level. Which of the following sta...
A: Here, it is given that the price change by 20% will lead to provide a new higher level, which remain...
Q: mere 4 A 0 deneng elesticry of demand for O0 00
A: Advertisement elasticity of demand means the ratio of percentage change in quantity demanded due to...
Q: 3.2 The Central Bank of Lala-land decides to increase the target inflation rate from 2 to 3 percent....
A: Introduction: The aggregate supply curve, unlike the aggregate demand curve, normally does not alter...
Q: Does the effect of Monetary Policy can be seen much quicker than the effect of Fiscal Policy? Is the...
A: The two most widely used instruments for influencing a country's economic activity are monetary poli...
Q: Write out and explain the GDP and Aggregate Expenditure identity equations.
A: Answer; GDP - The monetary value of all goods and services produced within a nation's geographic bor...
Q: Discuss the importance of monetary base to the overall money supply.
A: Answer: Monetary base: monetary base refers to the total amount of cash created by the central bank ...
Q: Consider a modified aggregate supply function which takes account for the emergence of random busine...
A: Output Equation in the economy - yt = πt - πte + y⏜ Where πt = Actual inflation rate , πte = Expecte...
Q: 1. Suppose that there are 1200 units of a nonrenewable resource available over two periods (0 and 1)...
A: Answer: Given, Z=Z0+Z1=1200 unitsOr,Z0=1200-Z1....Equation 1Demand function:P=2000-ZMC=400Discount r...
Q: How does endogenous growth theories provide a greater understanding of the process of economic
A: According to endogenous growth theory, economic growth is more driven by internal effects than exter...
Q: The graph above represents a bilateral transboundary pollutant and the economics of reaching an agre...
A:
Q: The subsequent figures show the evolution of the spread between the 10-Year Treasury Constant Maturi...
A: A Yield Curve is considered as a Forecasting indicator that interpret in real time. Yield curve is t...
Q: total government control total economic freedom Nigeria (58.7) which is the BEST way to describe the...
A: The best way to describe the economies of Kenya, South Africa and Nigeria by considering the given i...
Q: he Additional Insured—Vendors (HO 07 51) endorsement to a homeowners policy extends the definition o...
A: An additional insured means in a liability policy broadens the inclusion past the named safeguarded ...
Q: Recently in the City of Seoul, building contractors lobbied the city council to pass an ordinace req...
A: Lobbying is any attempt by individuals or private interest groups to influence the decisions of gove...
Q: a Define 'terms of trade'. b What is the formula for the terms of trade index? c From the table belo...
A: The proportion of nation's export prices to its import prices is known as terms of trade . To purcha...
Q: 4 can you tell me the conclusion- trends(the pros and cons, the changes throughtout the years increa...
A: GIVEN the conclusion- trends(the pros and cons, the changes throughtout the years increasing and d...
Q: in your own words or understanding what is global city?
A: When talking about global city, it relates to the place that is open to trade with different cities ...
Q: If S1& D1 are the original supply and If S16 D1 are the original supply and demand curves, what happ...
A: NOTE1: Since we only answer up to 3 sub-parts, we’ll answer the first 3. If S1 &D1 are the orig...
Q: ill give incorrect ans
A: A place where buyers and sellers meet is called Market. A market allows the buyer and seller to faci...
Q: A consumer has $600 to spend on good x and y. Her preferences can be represented by the utility func...
A: Given; Income of the consumer= $600 Utility function; U(x,y)=y+100In x Price of good x= $10 Price of...
Q: Practice questions 1. Given a firm's total cost function as = 12 + 60Q- 15Q² +Q³ Suppose that the fi...
A: The firm has to incur the cost while producing goods and services. Costs are divided into many parts...
Q: 30. A man loaned P15,000 pesos from a bank which offers a discount rate of 8% payable at once. How m...
A: A loan is a sort of credit in which a sum of money is provided to another person in return for the...
Q: Question 25 A computer company builds a new factory. This building is included in the category of gr...
A: The value of all final goods and services in an economy over the course of a year is referred to as ...
Step by step
Solved in 2 steps with 1 images
- You must have to submit the correct answer. If price is $25 when the price elasticity of demand is -0.5, then marginal revenue must be: Answer $25 -$25 $12.50 $37.50 $50A hair salon has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 – 20P.The salon has weekly total cost of TC(q)=0.05q2+20q+500. g) The hair Salon instead has market power. Suppos the firm charges all customers the same price for a blowout. Find the profit maximizing level ofoutput (q*) and price (p*).h) Compute the price elasticity of demand at q* and show that at q* MR(q*) = p*(1+1/e) = MC(q*)i) Compute the consumer surplus created by the Salon and the profit of the firm.IN OWN WORDS, about 200 to 400, Discuss the price elasticity of liquor products of.a liquor company. Explain how the company's strategies (revenue and profit) would be affected by price elasticity. will give a downvote for plagiarised answer.
- Define the income elasticity of demand What is a normal and an inferior good? Define the cross-price elasticity of demand Compare and contrast monopoly and perfect competition market structure in long-run.An exclusive yoghurt manufacture sellers 4000 gallons per month at a price of GHS 40 each. When the price is reduced to GHS 30 sales increase to 6000 gallons per month. 1.calculate the price elasticity of demand for the yoghurt over this Price range. 2.is the demand elastic or inelastic. 3.calculate the change in revenue due to the change in priceSuppose you own fast food takeaway shops, one in Glebe, with lots of competition, and one in Tibooburra, with little competition. In Glebe, the price elasticity of demand is -2.5, while in Tibooburra, it is -2.0. Assume the marginal cost of providing a combo burger is $10. What are the optimal prices of a combo burger in each location?
- What is the in-state and the out of state elasticity? Give your answer to two decimals.ABC Cosmetic is going to launch a new special cleansing cream for men. It has aconstant marginal cost of $30 and the estimated price elasticity of demand is –4/3.What price should ABC Cosmetic charge for the cream? Show your calculation.Monopoly and Price Elasticity PLEASE HELP
- dont use chat answer and correct answwer i will 10 upvotes If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).For the Water Utility, it costs $50,000 per month to lease the land and equipment for the water treatment facility and pumping station and maintain the water supply system. It costs $10Q to deliver water to households (Q is thousands of gallons). The town’s monthly demand for water is QD = 5000 – 100P, where P is price. Calculate the quantity of water, the price, total revenue, total cost, total profit, marginal revenue, marginal cost, the markup, the profit margin, and marginal profit at unregulated price and quantity of water. What price per gallon will they charge?Techvana is the manufacturer of a new drug which they obtained a patent for. The marginal cost of production is $175 per bottle and the elasticity of demand is estimated to be 1.86. What is the optimal price Techvana should charge for a bottle? $94.09 $113.81 $378.49 $325.5 Grizzly Gear manufactures and sells its top tier snowshoes for $1839. Marginal cost of production per pair is $1100 and fixed cost is $362. What is the markup charged on a pair of snowshoes? $1839 $1477 $377 $739
