The classical school of economics believe that consumers and producers are rational Is it True or False

Q: Refer to Table 13-1. What is the fixed cost of producing three widgets? a. $0 b. S1 c. $15 d. $18…

A: The fixed cost of the Widget factory is constant regardless of the level of goods and services…

Q: What are the guidelines that SBA has developed for the various industries?

A: Introduction The SBA or Small Business Administration's guidance materials give vital background on…

Q: Now draw a firm operating under perfect competition that is losing money but should still stay open…

A: Perfect competition: It refers to the competition under which there is a small number of firms in…

Q: If n is the number of fishermen in the river, then each fisherman catches 10 + 120/n kg of fish each…

A: The following information is mentioned: Price of one kg of fish is £5 Opportunity cost is £80 i.e.…

Q: Based on data in this chapter, explain two reasons whyit is reasonable to expect that Americans…

A: Economics is the branch of knowledge in which we study about the scarcity of resources and unlimited…

Q: If the population of a country is 1,000,000 people, its labor for consists of 500,000, and 40,000…

A: Gradually we can say that unemployment refers to the situation in which actually people are…

Q: The Economy of Hobbiton produces only two products, apples and kiwis. The below table provides…

A: The measure that depicts value of final goods and services produced in an economy during a given…

Q: 4. Effects of a tariff on international trade The following graph shows the domestic supply of and…

A: Import tariff refers to the government imposed taxes on imported goods and services when a firm or…

Q: Shin likes to spend a (relatively small) portion of his income on vacations to Cabo San Lucas (a…

A: Shin spends a small portion of his income on the trip.  It is given that the airfare prices have…

Q: DIFFERENCE BETWEEN perfect ompetetion , monopoly and oligopoly

A: The Market is a place where the buyers and the sellers interact to purchase or sale a specific…

Q: Katalin has the utility of U(x 1, x 2 ) = max{3x 1, 4x 2 } of purchasing products 1 and 2. Katalin…

A: According to the income effect, when the price of an item falls, it appears as though the buyer's…

Q: LAS LASO SASI # SASO Real GDP SAS1 Real GDP Real GDP Figure C Figure D In the above figure, which…

A: The aggregate supply is the total amount of services and commodities that firms in an economic plan…

Q: Tea prices are expected to rise rapidly in the near future. e. Used cars in NYC: Mayor Adams wants…

A: The interaction between those who sell a resource and those who purchase that resource is the…

Q: Thank you very much for your help! Which one from the above would you say it will be the correct…

A: (FDI) Foreign direct investment happens when an investor established in one country (the residence…

Q: QUESTION 40 Table 10-3 Quantity Private Value Private Cost External Benefit (Units) (Dollars)…

A: Q PV PC EB SV 1 22 12 10 32 2 20 15 10 30 3 18 18 10 28 4 16 21 10 26 5 14 24 10 24 6 12…

Q: Derive the firm’s demand schedule for labour if it were a monopolist that could influence the price…

A: A monopolist although maximizes its profit by charging a higher price and producing lesser…

Q: You work in the marketing department of a major telecommunications company. You discover that demand…

A: The degree to which demand responds to a change in another economic element, such as price, income…

Q: The consequences of instability to adheres to quality delivery process in banking firm

A: Banking  Banking refers to the system in a country, which provides financial services to the…

Q: During the 2012 fiscal year, households in an economy spent 80 per cent of their disposable  income…

A: Introduction We have given data of a economy of the fiscal year 2012. We have to calculate the…

Q: Cash Flow Diagram. Show your complete solution and box your answers. Construct a cash flow diagram…

A:

Q: Depreciation Determine the Book Value at the end of 2011 using a. Straight line method and DDB…

A: The straight-line method deteriorates a resource by an equivalent sum for each bookkeeping period.…

Q: Information. You are given the following lists of statements and concepts: Statement Concept 1.…

A: The curve that depicts various quantities of goods and services being demanded at various price…

Q: A consumer utility function is U = 1 log x1 + log x2. His budget constraint is given by 2x1 + 4x2 =…

A: The consumer is in equilibrium when he gets maximum satisfaction out of his expenditure. The…

Q: According to the law of diminishing marginal utility: Omarginal utility falls with the extra…

A: The law of diminishing marginal utility depicts that the marginal utility derived from each extra…

Q: The volatility of short-term economic growth gives rise to the balance of payments. O the business…

A: Economic growth means rise in the amount of goods and services from one period to another.

Q: Alpha Associates has the following details: Fixed cost = Rs. 20,00,000 Variable cost per unit = Rs.…

A: Given pieces of information: Fixed cost, FC = 2000000 Variable cost per unit, V =100 Selling price…

Q: 2 Suppose that the current spot exchange rate is €0.8250/S and the three-month forward exchange rate…

A: Exchange rate is the rate at which domestic currency will be converting into the foreign currency…

Q: global wconomy, technology the future, industry 4.0. Explain in details

A: GLOBAL ECONOMY : The global economy can be defined as the sum of all activities that occur both…

Q: Successful business managers have a good understanding of the environment in which the business…

A: Internal factors  that can affect any business can include: 1- Communication and interaction among…

Q: D Question 7 Consider the table of TOTAL COSTS below for the production of scarves. If the market…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Question 2 The volatility of short-term economic growth gives rise to O the balance of payments. O…

A: An economy's value might possibly be spread out over a greater range of prices if its volatility is…

Q: Under a floating exchange rate system, use the Mundell-Fleming model to predict with the aid of a…

A: The LM curve shows the direct relationship between interest rate and output. The LM curve is upward…

Q: In the late 3rd century AD, Diocletian rose to assume the throne of the Roman Empire. At the time,…

A: Price Ceiling refers to the maximum price that the suppliers or sellers are allowed to charge the…

Q: Explain the terms incidence and prevalence?

A: In epidemiology, incidence is a measure of the likelihood of a specific medical condition occurring…

Q: QUESTION 39 Figure 10-6 24 PRICE (Dolars per unt) 20 Supply Demand H 600 600 300 400 QUANTITY (Units…

A: External Cost  Externalities in the economy are known as external costs. It refers to the additional…

Q: Suppose that the market for lima beans is in equilibrium. Then, both the supply and demand curves…

A: The curve that depicts various quantities of goods and services being demanded by individuals at…

Q: Price (dollars per pair of gloves) 25 20 15 10 5 S = MSC D=MSB 0 1 2 3 4 5 Quantity (thousands of…

A: A deadweight loss is a cost to society created by market inefficiency due to the disequilibrium of…

Q: The volatility of short-term economic growth gives rise to O the balance of payments. O the business…

A: A economic cycle is a period in which the Gross Domestic Product  fluctuates around its relatively…

Q: Refer to the figure below. Taking the external costs of using refrigerators into account: 950…

A: When talking about external cost, it is the cost incurred outside the production process, faced by…

Q: Provide a brief introduction around strategic decision making and macro -environmental analysis.

A: Strategic decision making:- To achieve an edge, strategic decision-making is a method of…

Q: In most lending organisations , credit losses occur due to lack of credit risk monitoring . You're…

A: Banks or financial institutions before granting a loan to the public check for the credit score of…

Q: If the current margin is greater than the desired margin?   a. ​Marginal revenue and marginal cost…

A: If current margin = desired margin, then MR = MC. In this case, no need to change the current output…

Q: Select the two options that belong in positions F and K. Firms Goods and Services Purchased Wages,…

A: The circular flow model is an economic model that presents how money, goods, and services move…

Q: An expansionary monetary policy. Multiple Choice ___ is used when the inflation rate is high. ___…

A: Monetary policy is a set of policies used by the central bank of a nation in order to control the…

Q: Nvidia Al Research app 34.5% table 10.9% Computer 21.8% Smartphone 32.7%

A: Pie diagram is a good way to present any information of various categories. It gives a pictorial…

Q: EXAMPLE 1.2 Consider the following data of a company for the year 1997: Sales = $ 1,20,000 Fixed…

A: In the question, it is given that sales value is $120000 and fixed cost is $25000 while the variable…

Q: Company ABC purchased equipment worth Euros from an Italian co. at the beginning of the year. The…

A: Foreign Currency exchange can be presented in either direct quote or indirect quote. A direct…

Q: Who approves charters of new nationally chartered banks?

A: A chartered bank refers to a financial institution (FI) that accepts and safeguards monetary…

Q: 2. Costing. Using the given information, compute the following: Total Cost Item Inclusion Unit Cost…

A: Answer 6.  According to the question given, Total Cost = 155.70 Yield = 217 grams  The formula to…

Q: Assume the following model of the economy: Y = C + I + G C = 120 + 0.5(Y - T) I = 100 - 10r G =…

A: Given; C = 120 + 0.5(Y - T) I = 100 - 10r G = 50 T = 40 Md = Y - 20 r Ms = 600 P = 2