The BBC News reported that the war between Ukraine and Russia has resulted in food prices across the world increasing by 30%. Explain two strategy that can be used  to mitigate against this economic challenge.

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A: Cost function shows how the cost of the production of a good changes with the change in the quantity…

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A: A good price elasticity of demand is a proportion of how delicate the amount requested is to its…

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A: The measure that depicts the exchange of goods and services among countries in exchange for money is…

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A: Following is the graphical representation of above Indifference curves -

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A: Private investment funds are those which don't request public venture. Confidential assets are named…

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A: "If a country has a comparative advantage in producing one commodity then it means that country can…

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A: "Economics is a social science which is a study based on the consumption, production, and…

Q: Case II: The Euro Debt Crisis and Switzerland Economy Switzerland has many envious economic data. It…

A: Answer - Than you for submitting the questions.But, we are authorized to solve only three sub parts…

Q: A country reported nominal GDP of $200 billion in 2006 and $180 billion in 2005; it reported a GDP…

A: the GDP deflator measures the changes in the GDP that results from changes in the price level.…

Q: Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fisca Policy.…

A: Let us firstly define the data provided - Saving rate = 20% , therefore , Consumption rate /MPC = 1…

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A: Price Elasticity of Demand: Price elasticity of demand implies to the % change in the quantity of…

Q: Define and give examples of the following types of unemployment a. Seasonal unemployment b.…

A: Unemployment: It refers to the situation when people do not have work to do. The people are in…

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A: Introduction Protectionism. protectionism is used for the economical purpose in which any country…

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A: Money is a valuable asset that is widely used and accepted as a form of payment. Money can refer to…

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A: The marginal utility of a good is a change in total utility due to a change in the consumption of a…

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A: People must look for a service they can afford and are prepared to pay for in order to satisfy…

Q: 4. Suppose that, with the goal of stimulating aggregate demand in the next period (t + 1), the…

A: The aggregate demand curve shows the inverse relationship between price and the total quantity of…

Q: Two companies produce similar items for the same market. Company 1 produces q₁ items and Company 2…

A: Given information Demand function P=100-q1-q2 C1=7q1--- firm 1's cost C2=10q2-- firm 2's cost Firm…

Q: QUESTION 24 Consider the following provision of public good problem: Citizen 1 initial budget: w1 =…

A: Given; Initial budget of citizen 1; w1=$80000Initial budget of citizen 2; w2=$60000Cost of public…

Q: Calculate the marginal rate of substitution (MRS12) for the following utility function: U(91, 92) =…

A: Marginal rate of substitution is the rate at which one good can be substituted for other.

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A: The Consumer Price Index measures the overall change in consumer prices over time based on a…

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A: A perfectly competitive firm is the one that operates the business in the perfectly competitive…

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A: Yes there a commonality of the customer’s needs across countries.

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A: Production means the goods and services that are produced by using the raw material into the…

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A: As we know that 1970s case where OPEC ( a big cartel ) decided to reduce the supply of OIL which…

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A: A consumer surplus happens when the cost purchasers pay for an item or administration is not…

Q: Use the following table to answer the question about taxes, where P = Price buyers pay, P, Price…

A: Here, Pb is buyer's price, Ps is seller's price, and QE is equilibrium quantity in two different…

Q: In developed countries main reason for unemployment is Lack of supply O Excess demand O Lack of raw…

A: Unemployment is defined as a situation in which individuals are actively looking for a job but are…

Q: Consider a perfectly-competitive industry where each firm has the following long run cost function…

A: In perfectly competitive market, price is constant so it is equal to marginal revenue. Profit is…

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A: The total revenue is calculated by integrating the marginal revenue. The total revenue is divided by…

Q: P Demand Refer to the graph above illustrating supply and demand in a market. Suppose the current…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

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A: If the equilibrium price is a/2 then we find the quantity at that price so we replace this in the…

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A: Marginal cost mirrors the additional cost of assembling one extra thing. Accordingly, it…

Q: Question 5 Consider the graph below. Should this firm stay open or shut down in the short run and…

A: Shut down point:-  A shutdown point can be explained as a phase in production activities where a…

Q: ABC Company Limited is a new business established to produce tables (in units). The demand function…

A: Profit maximizing quantity is such quantity where marginal revenue is equal to marginal cost.

Q: Producer sale the goods at below the cost to drive out his competitors from the market is called…

A: The producer surplus is the distinction between the price got for an item and the minimal expense to…

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A: Given information Table Demand function shows the relation between demand and price of the product.…

Q: Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fiscal Policy.…

A: Let us firstly define the data provided - Saving rate = 20% , therefore , Consumption rate /MPC = 1…

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A: Demand and supply refers to the concept of the market where people demand goods for their needs…