Study the following diagram and answer the question that follows: Submarines d b 0 e 9 Hospitals The production of Od submarines and Oa hospitals... OA. Is productively inefficient given the available resources. OB. Is productively efficient given the available resources. OC. Is productively impossible given the available resources. OD. Increases the available resources.
Q: The short-run economic outcome resulting from the increase in production costs is known as——-…
A: The aggregate demand curve illustrates how the quantity of aggregate output demanded by households,…
Q: How much will Kingston Technologies have to pay each year in 9 equal payments, starting 2 years from…
A: Interest rate, in economics, refers to the cost of borrowing money or the return on investment for…
Q: Reactors `R’ Us operates a nuclear power plant in Potsdam.In the event of reactor failure, there…
A: The efficient probability of reactor failure occurs where the marginal cost of maintenance is equal…
Q: Suppose that a monopolist faces linear demand given by Q(p)=1000-10p The monopolist also pays a…
A: Profit maximization refers to the level of production in a production process at which a firm is…
Q: The graph shown displays a market with an externality. Price ($) 17 16 15 14 13 12 11 10 9 8 7 6 5 4…
A: In this case, we have to discuss the externality. Externality is the cost or benefit which is…
Q: What is the meaning of bail-in and bail-out? What are the pros and cons of using bail-in to resolve…
A: Bail-in and bail-out are terms used in the context of resolving financial crises, mainly related to…
Q: Refer to the following formula for expected payoff: Expected payoff = [Probability of rival matching…
A: When constructing an optimal strategy, a payoff formula that weights possible outcomes under various…
Q: which can be estimated by the growth of GDP, ultimately determines the prevailing standard of living…
A: GDP is the value of final goods and services produced in the economy within a given period of time.
Q: run aggregate supply to demonstrate a negative supply shock. Aggregate price level and/or the…
A: A situation when the real output declines and the prices in the economy gets increase at the same…
Q: Mr. and Mrs. Ward typically vote oppositely in elections and so their votes "cancel each other out."…
A: Nash equilibrium is a concept in game theory that describes a state in which each player in a game…
Q: Suppose that Natasha's utility function is given by u()=√101, where I represents annual income in…
A: A utility function in economics is a mathematical representation of an individual's preferences over…
Q: Suppose that a monopolist faces linear demand given by Q(p)=1000-10p The monopolist also pays a…
A: In a monopoly market structure, There exists a single seller. The monopolist will maximize it's…
Q: Pittsburgh Custom Products (PCP) purchased a new machine for ram-cambering large I beams. PCP…
A: Present worth, also known as present value, is an economic concept that measures the current value…
Q: b) What would be the highest price (premium) that she would be willing to pay for an insurance…
A: To determine the highest premium that Priyanka would be willing to pay for full insurance against…
Q: The graph illustrates the demand for Blue Sky surf boards and the firm's marginal revenue. On the…
A: Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…
Q: Notice that real GDP trends upward over time but experiences ups and downs in the short run. These…
A: Unemployment: The term unemployment refers to the economic situation where the person who is willing…
Q: Consider the balance sheet of the First National Bank Assets Reserves Loans $2,000 18,000…
A: The money multiplier is a measure of the amount of new money that can be created by the banking…
Q: 1.During the Oklahoma Land Rush of 1889, which role of prices would have been on display if not for…
A: A pivotal moment in US history occurred in the 1889 when the U.S. government made roughly 2,000,000…
Q: QUESTION 21 Why the AD curve might shift? Tax hikes/cuts. Booms/recessions…
A: Aggregate demand (AD) alludes to the overall demand for labor and products inside an economy at a…
Q: Consider two countries, Canada (Home) and US (Foreign). In 2018, Canada experienced relatively slow…
A: In the global economic landscape, the monetary policies adopted by central banks play a crucial role…
Q: Discuss in at least four ways why the education of women is considered the most cost- effective form…
A: Growth refers to an increase or expansion in size, quantity, quality, or magnitude over time. It is…
Q: Output per hour Production and Production Estonia Morocco of work Swords 5 2 Belts 3 2 Consumption…
A: The value of alternative opportunities foregone and sacrificed to acquire one unit of a commodity is…
Q: Nobel-winning Keynesian economist Paul Samuelson taught in his influential textbook that when a…
A: Keynesian economics focuses on the role of aggregate demand and the importance of government…
Q: Xespresso is launching a new type of espresso coffee machine. Production requires an initial…
A: Net Present Value is a concept used in financial economics to determine the value of an asset over…
Q: Capital investment Uniform annual savings Useful life Click the icon to view the interest and…
A: Annual worth is used to evaluate the economic worth or value of an investment or project over its…
Q: 3. The components of marginal revenue Sean's Fire Engines is the sole seller of fire engines in the…
A: S's Fire Engines is the monopoly of fire engines. Initially, S's Fire Engines produced 8 units of…
Q: What is pButter/pShoes O 1/5 05 O 0.5 02
A: A budget constraint refers to the graphical representation of all possible combination of good that…
Q: A project using passive heating/cooling design concepts to reduce energy costs requires an…
A: PW means PV of net benefits arises from the project in the future. It can be computed easily by…
Q: Please no written by hand Use the information presented in Northeastern Mutual Bank's balance sheet…
A: Below is the northeastern Mutual bank's Balance Sheet is presented Equity Reserves $150 Deposits…
Q: Suppose that the market for frying pans is a competitive market. The following graph shows the daily…
A: When the market price, the marginal cost, and the demand curve are equal, perfectly competitive…
Q: Suppose you observe the following change in the production possibility frontier of the economy: Car…
A: PPF is the production possibility frontier. PPF is the production possibility of two goods in an…
Q: Consider the following four mutually exclusive investment alternatives, and use the information in…
A: Financial markets involve the selection of projects or investments based on the rate of return on…
Q: Suppose an economy experiences a sudden increase in the national birth rate. If everything else is…
A: The current account balance is a component of a nation's balance of payments, which measures the…
Q: Which of the following is a characteristic of a monopoly? Responds to changes in the market price.…
A: Our of the 4 important market structures, monopoly is one of those. It is a market whereby there is…
Q: 8. Substitutes, complements, or unrelated? You work for a marketing firm that has just landed a…
A: Cross price elasticity of demand for good X with respect to good Y: It refers to the percentage…
Q: A low cost non contact tempereture measuring tool may be able to identify railroad car wheels that…
A: It is given that the tool used to measure the temperature helps the railroad firm to identify the…
Q: The demand and total cost functions for a monopoly firm are: Q(P) = 39.5 – 0.5P and TC(Q) = 60 – Q…
A: In a monopoly market structure, There exists a single seller. The monopolist produces where the…
Q: Industry O 50% 0 0% Automotive Fruits Exports $500'000 $150'000 Financial Services $100'000 What is…
A: The Intra-Industry Trade (IIT) Index is a measure of the extent to which a country trades similar…
Q: onsider the market shown in equilibrium at point A in the graph to the right. Suppose the market…
A: Economic shocks are sudden, unexpected changes in an economy's output brought on by shifting…
Q: (Figure: Supply and Demand 5) Refer to the figure. Representing a market for apartments, with a…
A: The short-run supply curve represents the relationship between housing prices and the quantity of…
Q: Refer to the tables below Management has 3 options for lot sizing in their procurement strategy…
A: Given, P( probability of high demand) = 0.35 P( probability of moderate demand) = 0.3 P…
Q: Quantity of labor demanded (billions of hours per year) Real GDP (billions of 2012 dollars) Real…
A: Potential GDP (Gross Domestic Product) is the maximum level of real output that an economy can…
Q: n article in the New York Times in early 2015 stated that economists at the Federal Reserve were…
A: In this scenario, we are presented with a forecast made by economists at the Federal Reserve…
Q: Why we should agree in 6-year term of national positions rather than 4-year term of national…
A: A 4-year term of national position refers to the duration of office for elected officials in key…
Q: A bonus package pays an employee $800 at the end of the first year, $1800 at the end of the second…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Assume you consume two goods, X and Y. Your utility function is U = 2X + 4Y. Let PX= $4, PY= $2, and…
A: A perfect substitutes function of utility is a particular kind of utility function in economics that…
Q: The demand for haddock has been estimated as: log (Q) = a + b log (P) + c log (I) + d log (Pm) where…
A: The degree of responsiveness of the demand for a commodity to changes in its price is known as the…
Q: Suppose that a small island nation devotes all of its resources to building tourist resorts or…
A: The production possibility frontier shows the different combinations of goods and services that can…
Q: What will happen to the price and quantity of housing units if housing supply is very inelastic? Use…
A: Inelastic supply means that the quantity supplied doesn't change much with the price. In the context…
Q: Suppose that a monopolist faces linear demand given by Q(p)=1000-10p The monopolist also pays a…
A: Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…
Step by step
Solved in 3 steps
- What is scarcity? Can you think of two causes of scarcity?Q5.1) Briefly outlineSchumpeter’s theory of creative destruction and provide three examples of either organisations that have disrupted the market, or industries that have been disrupted through creative destruction.Alexi and Tony own a food truck that serves only twoitems, street tacos and Cuban sandwiches. As shownin the table, Alexi can make 80 street tacos per hourbut only 20 Cuban sandwiches. Tony is a bit faster andcan make 100 street tacos or 30 Cuban sandwiches inan hour. Alexi and Tony can sell all the street tacos andCuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer. b. Who has a comparative advantage in the production ofCuban sandwiches? Explain your answer. Assume that Alexi works 20 hours per week in thebusiness. Assuming Alexi is in business on his own, graphthe possible combinations of street tacos and Cubansandwiches that he could produce in a week. Do the samefor Tony.d. If Alexi devoted half of his time (10 out of 20 hours) tomaking street tacos and half of…
- Read the following article and answer the questions listed in regard to argument mapping. Adapt or perish: Australia Post must embrace digital disruptionMost industries are vulnerable to digital disruption of established business models. The question is whether industry should seize the opportunity to reposition themselves in a changing market. Or whether they should wait to be disrupted by external forces, with the prospect of a one-way ticket to oblivion.A new report by UTS Business School for the McKell Institute shows that the pace of digital transformation is now disrupting one of the government’s largest and most iconic business enterprises – Australia Post.Traditionally, mail volumes have grown in alignment with GDP growth. But between 2008-09 and 2013-14, mail volume declined by 25% to 4.5 billion items. This, in turn, has contributed to a major deterioration in financial performance. In the first half of 2014-15, the loss in the mail business was A$151 million and it is…Read the following article and answer the questions listed in regard to argument mapping. Adapt or perish: Australia Post must embrace digital disruptionMost industries are vulnerable to digital disruption of established business models. The question is whether industry should seize the opportunity to reposition themselves in a changing market. Or whether they should wait to be disrupted by external forces, with the prospect of a one-way ticket to oblivion.A new report by UTS Business School for the McKell Institute shows that the pace of digital transformation is now disrupting one of the government’s largest and most iconic business enterprises – Australia Post.Traditionally, mail volumes have grown in alignment with GDP growth. But between 2008-09 and 2013-14, mail volume declined by 25% to 4.5 billion items. This, in turn, has contributed to a major deterioration in financial performance. In the first half of 2014-15, the loss in the mail business was A$151 million and it is…Read the following article and answer the questions listed in regard to argument mapping. Adapt or perish: Australia Post must embrace digital disruptionMost industries are vulnerable to digital disruption of established business models. The question is whether industry should seize the opportunity to reposition themselves in a changing market. Or whether they should wait to be disrupted by external forces, with the prospect of a one-way ticket to oblivion.A new report by UTS Business School for the McKell Institute shows that the pace of digital transformation is now disrupting one of the government’s largest and most iconic business enterprises – Australia Post.Traditionally, mail volumes have grown in alignment with GDP growth. But between 2008-09 and 2013-14, mail volume declined by 25% to 4.5 billion items. This, in turn, has contributed to a major deterioration in financial performance. In the first half of 2014-15, the loss in the mail business was A$151 million and it is…
- Graphically show the production possibilities frontier for the nation of Stromboli, using the data given in the following table. Does the principle of increasing cost hold in Stromboli? Stromboli’s 2019 Production Possibilities Pizzas per Year Pizza Ovens per Year 75,000,000 0 60,000,000 6,000 45,000,000 11,000 30,000,000 15,000 15,000,000 18,000 0 20,000what is scarcity? what is coumpound product? what is demand what is supply?lexi and Tony own a food truck that serves only two items, street tacos and Cuban sandwiches. As shown in the table, Alexi can make 80 street tacos per hour but only 20 Cuban sandwiches. Tony is a bit faster and can make 100 street tacos or 30 Cuban sandwiches in an hour. Alexi and Tony can sell all the street tacos and Cuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer.b. Who has a comparative advantage in the production of Cuban sandwiches? Explain your answer.c. Assume that Alexi works 20 hours per week in the business. Assuming Alexi is in business on his own, graph the possible combinations of street tacos and Cuban sandwiches that he could produce in a week. Do the same for Tony.d. If Alexi devoted half of his time (10 out of 20 hours) to making street tacos…
- Briefly describe efficiency in production?Describe the linkage between “Scarcity” and each of the following;i. Choiceii. Opportunity Costiii. CompetitionVistakon makes Acuvue TruEye and Acuvue Moist contact lenses. The following is Vistakon’s production possibilities frontier (PPF) for the two kinds of contact lenses. Use the graph to answer the questions below. If Vistakon is currently producing 2.5 billion Acuvue TruEye and 1.5 billion Acuvue Moist contact lenses per year, is it using its available resources efficiently or not? Why or why not? What is Vistakon’s opportunity cost of increasing Acuvue TruEye production from 1.5 billion to 2.5 billion lenses per year (in terms of Acuvue Moist contact lenses)? What will happen to the given Vistakon’s PPF if new technology facilitates production of Acuvue TruEye contact lenses? Show graphically (upload graphs below). What will happen to the given Vistakon’s PPF if materials for producing both kinds of contact lenses become more easily available and cheaper? Show graphically (upload graphs below).