textbook question I dont understand in my economics class.   show a positive change in the world through a L.A.S/S.A.S/A.D g

Q: Representatives Waxman of California and Markey of Massachusetts proposed a law to limit greenhouse…

A: The American security act of 2009, if becomes law will limit greenhouse gases from electricity…

Q: 1. How would you show positive change in the world through an A.E model (Draw graph, and explain…

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…

Q: consuming a total of  [Answer] kg te

A: An open trade is defined as the removal of barriers of import and export of goods and services…

Q: Kate can wax 2 cars per day or wash 6 cars. Jack can wax 2 cars per day or wash 4 cars.    Who has a…

A: Let's summarize the given information into tabular form.    Kate Jack Car wax /day 2 2 car…

Q: Suppose we have the country of Melanie-opolis. Further suppose that we have the following: . People…

A: Gross Domestic Product refers to the sum of all the value of goods and services that the firms and…

Q: Fill in the blanks: Indicate whether the following statement is a positive or normative statement:…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: In what way is appoed economics important in tackling economic issues or problems of the country?

A: Applied economics is the appliance of financial assumption to conclude the expected outcome allied…

Q: What is the roots of value maximization principle. a. Economics b. All of the above c. Commerce d.…

A: Value refers to the material, monetary, or assessed worth of a good, service, or an asset. The…

Q: Imagine that you are in your classroom with 30 other students and your professor places in front of…

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: Susan can brew 5 gallons of root beer in an hour or she can make 4 pizzas in an hour. Becky can brew…

A: Absolute advantage can be defined as the ability to produce more of a given quantity with same…

Q: Normative economics is:    a. An investigation or statement about the norms and culture of other…

A: The study about the scarce allocation of resources among the people of the society is referred to as…

Q: Instructions: Answers must be typewritten, graphs can be drawn by hand and inserted in the document.…

A: By analyzing the given table, one can conclude that Australia can produce 12 apples or 4 oranges,…

Q: Which of the following types of economy describes the economy of the SULTANATE OF OMAN? A ) Amarket…

A: Market Economy: In this economy, the production and prices are determined by the private ownership…

Q: 1) Two countries, A and B, each produce 2 goods, X and Y, using labor.  Country A need 2 units of…

A: Hi there, you have asked a question with multiple questions and also multiple subparts. We will…

Q: Maria can read 20 pages of economics in an hour. Shecan also read 50 pages of sociology in an hour.…

A: a.

Q: -A and Farm-B grow the following amounts of potatoes and cabbage in their farms: Farm-A takes one…

A: Opportunity cost is the next best alternative forgone or output forgone to produce more of other…

Q: Use the table to answer the question:   Corn (lb) Scarves(#) U.S. 20 10 Mexico 25 5 What is the…

A: Opportunity costs represent the potential benefits a personal, investor, or business misses out on…

Q: heckshecker ohlin theory suggests that land abundant nations will export land intensive good

A: In international economics, there are many theories of trade that explain the concept of exchanging…

Q: Econ 205 Homework 2 Suggested Solutions Chapters 3, 4: Trade, markets, demand 1. Mike and Liz are…

A: Comparative advantage is when an individual or a country can produce a good with lower opportunity…

Q: Ceteris paribus is not realistic in explaining real world economic problems.

A: Ceteris Paribus is the most commonly used concept in economics. It is used while describing major…

Q: 1. For each of the following statements, determine if it is positive or normative. (a) Seattle is…

A: The given statements are either positive or normative. Positive statements are statements that are…

Q: Which of the following is NOT part of the opportunity cost of attending university?      A) The…

A: Opportunity cost is defined as the benefit an individual or business misses while choosing some…

Q: Draw and explain a production possibilities frontier for an economy that produces milk and cookies.…

A: The production possibility frontier (PPF) refers to the maximum possible combinations of output of…

Q: Below are the hypothetical data on the combinations between Good X and Good Y that a country can…

A: The economics as a study is based upon the basic idea that the resources which are available with…

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A: We use natural assets to run organizations and in our regular daily existences. Is this useful for…

Q: Suppose South Africa produces two types of goods: agricultural and capital. The following diagram…

A: The Production Possibility Frontier is the locus point of all the different combinations of the two…

Q: Examine the central problems of an economy given below and select the one that cannot be represented…

A: A production possibility curve (PPC) is a graph that represents different combinations of output…

Q: “Scarcity is the fundamental problem that every nation in this world faces.”  What do you mean by…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Classify each of the statements as an example of positive or normative analysis.. The sugar quota in…

A: The sugar quota in the United States costs consumers $6.08 billion a year. Correct Answer: Positive…

Q: Draw and explain a production possibilities frontier for an economy that produces milk and cookies.…

A: PPF (production possibility frontier) shows the different combinations of two goods which can be…

Q: Refer to Table 1. Who should produce berries? [ Select ] Who should produce fish? [ Select ] Since (…

A:

Q: Production possibilities. If the supply of capital falls by10 percent and the supply of labor…

A: If it is supposed that capital in form of land is used to produce wheat and labor is used to produce…

Q: According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of…

A: Opportunity cost is the forgone benefits from next best alternative.

Q: moun

A: 1.The production possibility frontier or PPF depicts the trade-off among the outputs of the…

Q: Draw and explain a production possibilities frontier for an economy that produces cheese and milk.…

A: The production possibility curve depicts a variety of combinations of two goods that can be produced…

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Q: Which of the following statement is a positive statement? a. More students should study economics.…

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Q: Draw a PPF that represents the production possibilities for goods X and Y if there are constant…

A:

Q: An economy will achieve productive efficiency when it ___ and will achieve productive efficiency…

A: In economics, efficiency refers to lack of wastage. There are two types of efficiency, i.e.,…

Q: Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour.…

A: Opportunity cost is nothing but the cost of the next best alternative or the amount sacrificed to…

Q: With 1 resource unit 2 countries, A and B, are each capable of producing 2 goods, X and Y, according…

A: In the above diagram, the PPF A represents the country's A PPF, and PPF represents the country's B…

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.