The concept of ‘constant returns to scale’ implies that, if the state of technology (A) remains constant, an increase of x times in both the capital (K) and the amount of labour (N) will lead to an increase of x times in the output.

Q: Imagine you have access to a technology that allows you to instantaneously travel to a McDonald’s in…

A: The price of dollar with relation the currency of other nations can be determined in the foreign…

Q: please teach explain step by step, A consumer has preferences over two goods represented by the…

A: Utility function : U = x1 + 2 (x2)0.5 Optimal consumption point is achieved at the point where…

Q: An automobile industry has 5 players (A, B, C, D, E) with 20%, 10%, 30%, 20%, 20% share…

A: HH index is used for calculating concentration of firms in the market. High value of HH index…

Q: The table below shows production that has taken place within Bequia utilizing all of its resources:…

A: Production Possibility Curve  The production possibility is a curve on a graph that depicts the…

Q: What are some potential approaches to achieving global food security

A: Food availability for all people will be guaranteed through global food security. Global food…

Q: Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as…

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Q: orrect statement about economic growth theories. A. Modern-day Malthusians point to global warming…

A: Growth is measured through the production of goods and services. The rise in the production of goods…

Q: 2. Price (dollars per sandwich) 0 12345678 3 Quantity supplied (sandwiches per week) 0 Quantity…

A: Equilibrium in the market occurs where quantity demanded is equal to quantity supplied.

Q: Draw the price effect and the quantity effect for a price change from $60 to $70. Which effect is…

A: Total revenue The whole amount of money a seller can make by providing customers with products or…

Q: he monopolist that chooses a point on the demand curve where the elasticity of demand, in absolute…

A: We know that the total revenue is equal to TR=PQ Monopolists choose the point where the elasticity…

Q: A company is planning to manufacture snowboards.  The fixed costs are $125 per day and the total…

A: Fixed Cost = 125 Total Cost = 5,786 per day Output = 19 boards

Q: You borrow Php 40,000 from a family member and agree to pay it back in nine months. Because you are…

A: Only loans with extremely short terms are typically subject to one-time simple interest. Interest is…

Q: Can you explain or give me an overview of the chinese economy?

A: By 2020, China's economy, which has experienced exponential expansion in recent decades, will have a…

Q: What two factors must be kept in mind when comparing different countries’ standard of living, and…

A: A country's or region's economic material aspects are gauged by the standard of living. It measures…

Q: How did we arrive with the i show a systematic solution

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Q: Plot the following table on a graph showing average money growth rates on the horizontal axis and a…

A: The quantity theory of money cash is a system to comprehend cost changes corresponding to the…

Q: If an electric appliance present worth is P120,000.00 and is being paid P5000.00 indefinitely,…

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Q: Which among the following is true about social regulations? Select one: a) None of the answers…

A: There are many types of regulations. Two of them are social regulation and industrial regulation.…

Q: Suppose that 50,000 dollars from a retirement account is invested in a large cap stock fund. After…

A: Buying products that aren't consumed right away but will be used to make money later on is what is…

Q: 1. A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the…

A: Consumer surplus is defined as the difference between consumer is willing to pay and actual pay for…

Q: When Target charges $96 for a children's game, they sell 100 units. When they charge $85, they sell…

A: Demand is the willing to buy a good or service backed by the purchasing power. Consumer wants are…

Q: With regard to the issue of jobs in the global market, which of the following is correct? No answer…

A: Global market: Global marketing allows you to sell more products, attract more customers, and…

Q: what problem the value addedto measuring GDP resolved?

A: The total market value or worth of all the finished goods and services produced within a nation's…

Q: An indifference curve illustrates ... how consumers are indifferent about the location of their own…

A: The quantity of units consumed by two products is displayed on an indifference curve. It explains…

Q: Explain the market structure continuum? Select one: a) Oligopoly-Pure Monopoly-Pure…

A: A market is defined as one which allows buyers and sellers to interact with each other and strike a…

Q: Suppose output per worker in a country has grown at the same rate as technology over many years.

A: Growth refers to sustained increase in real GDP per capita of a country over long period.

Q: A father wishes to provide P5,000.00 for his son on his 21st birthday. How much should be deposited…

A: given that, The amount a father provides to his son on his 21st birthday is =P5,000 The rate of…

Q: Suppose that the supply and demand schedules for a product are as follows: Price $1 $5 $10 $15 $20…

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Q: 2. A construction site uses two types of workers - skilled (S) and unskilled (U). They produce feet…

A: Production Function This link between the amounts of productive inputs (such as labor and capital)…

Q: Suppose that Omar’s marginal utility for cups of coffee is constant at 1.5 utils per cup, no matter…

A: Marginal utility is the additional utility that has been gained by consuming one more unit of good…

Q: Nominal GDP increased from roughly $15 trillion in 2010 to $21 trillion in 2020. In the same period,…

A: Real GDP is a computation of a country's gross domestic product that has been modifying for…

Q: QUESTION 9 If the demand for coffee beans is inelastic, then a rise in the price of those beans will…

A: The degree to which the effective desire for commodity changes as the price(P) of that commodity…

Q: How much money should be deposited each year for 12 years if you wish to withdraw Php 15,450 each…

A: An interest rate lets you know how high the cost of borrowing is, or high the rewards are for…

Q: True/False: Net exports = exports plus imports. True/False: The estimated market value of volunteer…

A: We know that Export can be defined as the total amount of commodities and services sold outside the…

Q: The USPS charged $0.50 per stamp in 2021 and allows stamps.com to sell a sheet of twenty $0.50…

A: Price elasticity alludes to how much people, customers, or makers change their demand or the sum…

Q: 7. (EQUATION OF VALUES) Gene owes the following debts: A. Php40,000 due in 2 years and B. Php545,000…

A: Interest rate – 12% Debts A = 40,000 due in 2 years B = 545,000 due in 8 years

Q: If demand is P = 50 - 2Q and supply is P = 20 + 3Q, what is the value of the Producer Surplus?

A: Equilibrium P*(price) and Q*(quantity) is found by the intersection of demand and supply curves in…

Q: How can business establishments take advantage of the law of diminishing marginal utility?

A: According to the theory known as the law of diminishing marginal utility, the amount of pleasure or…

Q: Which of the following statements is false? Select one: a. Stores purchases are added to inventory…

A: Raw materials used in production as well as finished products that are offered for sale are both…

Q: You own a small business and want to increase the total revenue you collect from sales of your…

A: Total Revenue is the total amount received by selling all the units of output. Total Revenue is…

Q: Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2…

A: The value of final goods and services produced in a year is known as the nominal GDP. When the…

Q: 6. A new medical study indicates that eating blueberries helps prevent cancer. If the demand for…

A: Production: Production implies converting raw materials into finished goods. The finished goods are…

Q: a) Find the Nash equilibria in the game (in pure and mixed strategies) and the associated payoffs…

A: Given information     Player 2     L R Player 1 U 1,3 9,1 D 3,3 7,7

Q: QUESTION 1 Suppose we know that the price elasticity of demand for organic carrots is -1.5. If a…

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Q: Consider a worker who consumes one good and has a preference for leisure. She maximizes the utility…

A: This is the labor leisure problem. Where the consumer decides the optimal amount of leisure and…

Q: The Corvette When the C8 Corvette first arrived back in June of 2019, the world was shocked to see…

A: Price elasticity of demand refers to the percentage change in quantity demanded with respect to…

Q: Use the Fed and the banking system T-accounts to describe the effects of a Fed sale of $200 million…

A: The Central bank is the monetary authority of an economy, which is responsible for the monetary…

Q: The diamond-water paradox arises because: Select One: a) Diamonds being scare and water being…

A: Economics is the stdy of allocating scarce resources efficiently and effectively. It is the study of…

Q: 3. Sanders Corp. is considering three mutually exclusive alternatives for one of their production…

A: Year Option #1 Option #2 Option #3 0 -8 -13.9 -24 1 2.6 4.05 0 2 2.6 4.05 3 3 2.6 4.05 6 4…

Q: Consider the table of GDP and population for several imaginary countries. Country Wrigleyville…

A: National Income is the value of final goods and services produced in a country during a year. Per…