The diminishing marginal product implies that the total product is decreasing at an increasing rate

Q: 2) Assume: Q(S) = 3P; Q(D) = 200 -P %3D a) What is the equilibrium P and Q? Explain b) If there is a...

A: We can find equilibrium by equating supply equal to demand i.e. Q(S) = Q(D)

Q: he Congressional Budget Office admits that its forecasts of next year’s GDP are off by an average of...

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Q: Evan borrowed USD 40,000 at the nominal interest rate of 7% per year for a period of 12 months. Infl...

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Q: At a price of $4.65 per pound, the supply for cherries is 16,117 pounds, and the demand is 10,232 po...

A: Given: Price(old)=$4.65 per pound Price(New)=$4.13 per pound

Q: The selling of formerly government owned industries to individual investors is known as?

A: Liberalization, Privatization, and Globalization (LPG) are three terms that describe the process of ...

Q: Which of the following statements are true about correlation? A. The correlation describes the tende...

A: In the economic analysis, when talking about correlation, it explains the relationship between two o...

Q: The following graph shows the market for loanable funds in a closed economy. The upward-sloping oran...

A: Lenders are the source of the supply of loanable funds. These can be consumers or institutions that ...

Q: rms (A and B) sell identical products. They move at the same time. Demand in the market is P = 400 -...

A:

Q: QUESTION 8 Suppose that the production function y-f(x_1,x_2) (where: y is output level, x 1 is a var...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: true or false The rational and profit maximizing firm will choose to operate in Stage 1 or Stage 2 ...

A: Total product is defined as the total amount of output produced by employing given amount of input. ...

Q: Explain the impact of Minimum wage laws on the labor supply, including every important topic under i...

A: Minimum wage is basically the lowest rate at which labor may be hired, as determined by collective b...

Q: F G H 1 6. 3 6. 3 A 8 5 B 3 3 4 2 4 9. C 3 a.) Find all pure-strategy Nash equilibria of the above g...

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Q: PW analysis for one project refers to the value of all cash flows converted to a single sum equivale...

A: In the mentioned question we have been asked what actually PW is and do the given statement is true ...

Q: When there is a calamity, the government provides help either in the form of food or cash. Which wou...

A: Cash grants and subsidies are two of the many types of help that are provided by the government to i...

Q: Distinguish between the two global cultures of capitalism. Do you envision a convergence of these tw...

A: Capitalism is the type of economy where the full control of the market is in the hands of the privat...

Q: A firm has leased plant and equipment to produce video games, which can be sold in unlimited quantit...

A: The amount of money spent on developing and selling products and services, as well as acquiring asse...

Q: QUESTION 8 Suppose that the production function y-f(x_1,x_2) (where: y is output level, x_1 is a var...

A: The question is from the law of variable proportion, in which capital and labor are used as inputs. 

Q: PROBLEM 8 8A. Write the output maximizing decision rule for the non-profit organization. 8B. Using t...

A: A firm, industry, or country's output is defined as the amount of goods or services produced in a ce...

Q: In the Systematic Economic Analysis Technique (SEAT), Step 5 is Compare the alternatives by an econo...

A: The inductive process can be used to precisely explore an idea or hypothesis to see if it is consist...

Q: Briefly explain allocative efficiency and how it is achieved.

A: Demand curve had an indirect relationship with the price. 

Q: A proprietor of a food-stall has invented a new item of food delicacy which he calls WHIM. He has ca...

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Q: What are the advantages and disadvantages of owning a franchise? What factors should you consider wh...

A: The concept of Franchising is based on a marketing concept that a company can implement as a means o...

Q: Inflation in Macroland is 5% this year and it is expected to remain at this rate for a foreseeable f...

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Q: We've seen how many economists vehemently oppose price controls, saying that they'll create either s...

A: Price controls are laws imposed by the government to limit pricing. There are two types of price con...

Q: how  do firms choose how much output to produce.

A: production is the making system - it is in the same place as the natural/raw substances and parts ch...

Q: 5. Free-trade benefits In addition to the positive welfare effects that free trade has on an economy...

A: The international market is the platform for countries to make an exchange of goods and services amo...

Q: Which of the following is an example of a market inefficiency created by a monopoly? O Economies of ...

A: The correct answer is  D. Deadweight loss  It is the market inefficiency created by monopoly because...

Q: According to Sam, Stock S is better because it provides an annual dividend of P5. According to John,...

A: When talking about an investment market, it can be seen that people make their economic and financia...

Q: The utility maximization problem is given by 0-1\=1 (C2t) Ө-1 0 + max uf = Cit,C2t,St subject to Cit...

A: Above problem relates to intertemporal choice of consumption so firstly we derive the aggregate budg...

Q: All else being equal, a country whose currency has declined in value from year to year is likely to:...

A: The economics as a study is based upon the general idea that the resources which are present with th...

Q: a. List two types of Monetary Authorities.“ b. Explain how they maintain the value of money.“

A: In finance and economics, a monetary authority is a substance that deals with a nation's currency an...

Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000...

A: A tax is a necessary fee or a type of monetary charge that is imposed by a government on a person or...

Q: 4. At a price of $100 each, Beachside Canoe Rentals rented 11 canoes. When it increased its rental ...

A: The demand curve shows the negative relationship between the price and the quantity demanded. The de...

Q: Question 1.lf the reserve requirement is 100 percent, and banks keep no excess reserves, a new depos...

A: (1) Reserve requirement = 100% = 1 Money multiplier = (1 / Reserve requirement) => Money multipli...

Q: Consider an industry with two identical firms (denoted firm 1 and 2) producing a homogenous good. Fi...

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Q: In using variance reports, management looks for more efficient ways of valuing inventories. signific...

A: The difference between the standard output and the actual output is calculated using variance analys...

Q: Briefly explain the concept of universal health coverage and the strategies employed in Caribbean co...

A: The basic provision of health care to all individuals and communities regardless of their financial ...

Q: 4 3. A firm’s production function is q = 8K.25L.75 MPL = 6 K.25L-.25 MPK = 2 K-.75L.75 a. Determine ...

A: short-run cost function  and the long-run cost function given below. 

Q: ect TWO true statements about money. ect one or more: a. Base money is equal to cash plus commercial...

A: Here the correct statements are a. Bass money is equal to cash plus commercial bank reserve with the...

Q: Do you think that economists should place a dollar value on “goods” and “bads” when computing GDP?

A: In an economy, GDP is used as the measurement of national income using different methods as they all...

Q: Problem 1. Explain in detail what effect a Fed sale of bonds will have on: (1) the LM curve; (2) the...

A: The LM curve shows income (GDP) and interest rates (i) at which money supply (MS) matches money (liq...

Q: The demand and supply functions for basic cable TV in the local market are given as: QD = 200,000 –...

A: We have The demand function for basic cable TV: QD=200,000-4,000P        .... (1) The supply functio...

Q: Numerical simulation. Consider the following Solow growth model: Yt = 10 * /k, k++1 = kt – 0.1k; + 0...

A: Given  yt=10kt          .... (1) kt+1=kt-0.1kt+0.2yt           .... (2) k0=50 “Since you have posted...

Q: Suppose there are 2,000 potential consumers in the Chestnut Hill market for tablet computers. All co...

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Q: The production function q = 9K0.8L0.1 exhibits: a. increasing retruns to scale  b. constant return...

A: The relationship between ou>tput and proportional increase in all the inputs is referred to as Re...

Q: Susan has the option to purchase eyeglasses, E, $3 each, and orange juice, O, $1 each. Her income is...

A: Budget line is the price line shows the various combinations of two goods that can be bought with gi...

Q: In comparing alternatives I and J by the present worth method, the equation that yields the present ...

A: The correct answer is given in the second step.

Q: The city of Toledo is considering adding additional storm water storage facilities so that it will n...

A: Federal Grant = $1 Construction and maintenance costs =$7 Toledo residents' total willingness to pay...

Q: The goal of a cartel is to and O increase prices; increase profits O increase prices; decrease profi...

A: A cartel is a group of producers of an item or service that has formed a legal agreement to manage s...

Q: Outline eight offenses that could be committed by foreign companies and their officers

A: Economic Offenses are a distinct kind of criminal offense. Economic crimes not only cause financial ...