The economic entity most likely to engage iin price gouging is a) an individual or business who has stockpiled the product. b) a local, regular supplier of the product. Oc) a national big-box store, such as Target or Walmart. O d) a local resident who wants to get rid of his or her own product. O e) the manufacturor of the product such ar a Honda generator
Q: Heckscher-Ohlin Model - Example Please, provide and briefly explain an example of 2 countries, whose...
A: The nations around the world tend to have a limit to the amount of resources which they have, while ...
Q: Which of the following importation is not subject to consumption tax? * Importation of ornamenta...
A: When talking about consumption tax, it is the tax that is imposed on the use of final goods and serv...
Q: which statement is correct A result of welfare economics is that the price of a product is consider...
A: 1. Statement is incorrect because this is intimately related to the study of economic efficiency and...
Q: State and explain at least 2 limitations when the central bank implements monetary policy.
A: Monetary policy is the policy of the central bank of the economy to control the money supply in the ...
Q: 2 Suppose jon and I pay the game twice Xesume mixed stratojos (ran domi zing ng the thwee action) do...
A: Rock paper scissor game is associated with payoff such that : => Simultaneous game . => If bot...
Q: Create a mind map of the important concept/s of ECONOMIC ORGANIZATION.
A: Organizational economics is a field of economics that investigates interactions within particular or...
Q: Sourabh Gupta can purchase copper bottles for $ 34 per piece and can manufacture it in house where t...
A: Whether outsourcing would be good or manufacturing of the bottle depend on the cost occurence per bo...
Q: SA Sq PA Pg Q TRg TRg TE fer to the diagram above. What will happen at the market if supply increase...
A: Referring to the LHS Diagram: When the supply increases from SA to SB, there is a rightward shift in...
Q: Consider an economy in which all taxes are autonomous and the following values of autonomous consump...
A: Since you have posted multiple subparts, as per the guidelines we can solve only the first 3 subpart...
Q: Recently in the City of Seoul, building contractors lobbied the city council to pass an ordinace req...
A: Lobbying is any attempt by individuals or private interest groups to influence the decisions of gove...
Q: A young engineer borrowed P10,000 at 12% interest and paid P2,000 per annum for the first 4 years. W...
A: Simple interest depends on the chief measure of an advance or the first store in quite a while accou...
Q: Summarize methods for managing the warehousing and storage function of the supply chain.
A: Warehouse management refers to supervision of operation in warehouse . It involves receiving , track...
Q: Question 45 By definition, the velocity of money is the a) difference between this year's inflation ...
A: Inflation rate is the increase in the average price of goods and services.
Q: Consider two Solow economies (A and B), exactly identical except that economy A has a higher share o...
A: This is a model of exogenous economic growth. It studies how changes in population growth, savings r...
Q: show in graph how the current account got a deficit of 12% GDP and the budget deficit of 3%. Suppos...
A: The current account deficit is a measure of a country's trade in which the value of imported goods a...
Q: QUESTION 11 Which of the following pictures represents the effect of an increase in available hours ...
A: Leisure time is when you are not working and may relax and do things that you like.
Q: Y = E(K, L) = AK^L A = 1, K = 3000, L = 9000 a = 0.6 1= (r) = 1200 - 10r C= C (Y-T) = 0.75 (Y-T) T= ...
A: a. Output Y=AKαL1-α=1*(3000)0.6(9000)0.4=4655.54. We solve for equilibrium r in goods and services...
Q: Discuss wether a fall in price of a product will always be accompanied by a reduction in the quantit...
A: The markets are the place where the buyers, and the producers of different goods and services tend t...
Q: Another investment story: George inherited P500,000 from his grandparents when he was 5 years old. H...
A: From 5th year to 18th year, F = P (F/P,i,n) For 4 years of college education, A = P (A/P,i,n)
Q: A firm lowers the price it charges. The firm's total revenue decreases. What can we conclude about t...
A: please find the answer below.
Q: nomics Volume of Production Price (dollars) Total Production Cost (dollars) 10 1434 22841 30 991 264...
A: Dear learner you have posted multiple questions, as per our policy we have solved only first questio...
Q: 4A Find the value of 'C’ in the figure below. Take the interest rate as 15%. C-? 10 15 23 Years 20,0...
A: Given: The interest rate is = 15% Years = 23 To Find: The value of C:
Q: How do laws and politics affect the trade between states?
A: Worldwide alternate laws create the rules that international locations and groups need to comply wit...
Q: In the rural area of a large agricultural-based economy in which corn is the staple food, there are ...
A: The markets are the place where the buyers and the sellers of goods and services, and other products...
Q: what is the impact of Rice Tariffication Law to the agricultural modernization in the country
A: Rice tarrification law eliminated the monopoly of the National Food Authority which was dominated on...
Q: Column A Column B 1. The analysis and evaluation of the factors that will affect the economic succes...
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts fo...
Q: b) households; automobiles
A: By definition, Consumption, in Economics, is the use of goods and services by households. Consumptio...
Q: which statement is correct Dora visits a clothing store to buy new dress suit. She is willing to pa...
A: Disclaimer :- as You posted multipart question we are supposed to solve the first 3 questions only a...
Q: Assume two countries that produce and consume food and clothing. Country A uses: • 2 hours of labor ...
A: Answer to the first part of the question: As per the given information in the question, opportunity ...
Q: It is defined to be the capacity of a commodity to satisffy human wants. Discount Luxury Necessity U...
A: Answer: Utility: utility refers to the want satisfying power of a commodity. In other words, every c...
Q: Refer to the diagram above. What will happen at the market if supply decreases?
A: In the graph, it is clear that the demand curve is inelastic. So the supply and total revenue will s...
Q: Consider a world in which only two goods are sold: x and y, and where good x is inferior. A. |Write ...
A:
Q: GDP does not take into account the underground economy, and offers measures of government production...
A: GDP refers to Gross Domestic Product. It is the sum of the value of all the goods and services produ...
Q: 3. Suppose the MPC is 0.8. The government wants to decrease Total Spending by $600. How should it ch...
A: GIVEN MPC = 0.8 decrease in Total spending = $600 (ie. ΔAD) Change in G to achieve (ΔAD=$600) goal...
Q: A firm has the following average total cost curves: Quantity ATC11 ATC22 ATC33 ATC44 1 100 150 50 2...
A: Answer-
Q: 7. If demand is inelastic and the price falls, the total revenue A. rises. B. falls. C. remains cons...
A: The demand is inelastic when percentage change in the quantity demanded is less than percentage chan...
Q: Eli and Taylor are partners in a restaurant business. They are in talks with Sandra to join their bu...
A: A business where there is a formal agreement between people who tend to distribute responsibilities ...
Q: Demand for a product is price inelastic. What effect will a rise in price have on demand and total r...
A: Elasticity of demand refers to the percentage change in quantity demanded due to percentage change i...
Q: The five force model is a framework
A: The model that represents economic processes through a set of variables and a set of logic and relat...
Q: According to the product approach to Gross Domestic Product (GDP), GDP is the sum total of Four Comp...
A: When talking about product approach to easily gross domestic product, it explains the production and...
Q: What limitations or challenges of The Big-Push Model and The O-Ring Model for developing countries?
A: Developing countries comprise majority of the WTO members. They are grouped developing countries and...
Q: John pays $1500 to Auto Body Shop to repair- his old car. Included in GDP.
A: Answer is given below
Q: E A D D2 Do Quantity Refer to the figure. Using the graph above, a movement from point A to point in...
A: Movement along the demand curve:- The movement of the demand curve indicates the variation in price ...
Q: What are the pressures that encourage MNEs to establish in newly industrialising countries? b. What ...
A: MNEs: A worldwide undertaking, condensed as MNE and now and then likewise called global partnership ...
Q: xplain the difference between positive and normative economics with example.
A: Positive economics is defined as a stream of economist which focuses on quantification, identificati...
Q: Question 38, Katherine was laid off from her job 11 months ago. After searching for a job for months...
A: Labor force is a sum of number of people employed and number of people unemployed.
Q: Consider the empirical evidence on the Solow growth model when the population growth rate, depreciat...
A: In the question above, it is given that : Consider the empirical evidence on the Solow growth model...
Q: O A. Everyone has unsatisfied wants.
A: There are various definitions of Economics. The early economists called Economics 'the science of we...
Q: Question: This specifies that an action that could benefit more people and more subject should be ac...
A: The term "common good" can refer to something that is shared and beneficial to all or most members o...
Q: Explain why Japan exports automobiles, while the U.S. exports aircraft? Use the prior definitions of...
A: A country exports a good in which it has a comparative advantage. Comparative advantage occurs when...
5
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Sellers are willing to sell their product at a very low price even it high priced items cost more? What is the rational behind this concept? a. To dominate the market with low-cost items b. Low priced items are a magnet for customers to come in and this will create opportunity to sell low priced item with high markup price. c. To lure frequent buyers. d. This reduces the incentives of trade.A firm faces two types of consumers. Consumer A has an inverse demand of P = 120-10 Q and consumer B has an inverse demand of P = 60-2Q. The firm has a constant marginal cost of $20. Assume the firm does not know which type a given consumer is. She offers to sell the good at a price of 70$ per unit. However, if the customer buys 10 or more units, she will offer a quantity discount and charge only 40$ per unit (including the first 10). Which consumer will use the price discount? Question 7 options: Neither costumer will purchase from this firm at all. Customer A will choose the quantity discount and customer B will not choose the quantity discount. Both consumers will chose the quantity discount. Neither of the two consumers will opt for the quantity discount. Instead, both will purchase at the higher price of 70 and buy less than 10 units each. Customer B will choose the quantity…A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. )Determine the level of tax that would have to be applied to production to achieve the social optimum.
- A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. b)Graphically indicate and determine the magnitude of the social cost of the situation with a production level of 250 units.COURSE: MICROECONOMICS - Stackelberg ModelIn a given market good there are only 2 firms that satisfy the demand, and their respective total cost functions are: CTi = 400 and the demand that is estimated is P = 120 - 2QIf the exception variable of both firms is the quantity they will produce, such that the decisions to produce are made sequentially firm number 1 will be the leader who decides the quantity to produce and firm number 2 (follower) decides based on the production of firm number 1, we ask:(a) quantity produced by each firm and its equilibrium price in the market.(b) Profit of each company at equilibrium and (c) Graph your resultsTarget produces a good with significant network externalities. The willingness to pay equation is p = 1 – q + 2.5q2 . Show on the graph the firm’s demand curve at each price from 0 < P < 3. What three equilibrium values of q may result if Firm A sets a price of $1.5? Indicate them on your graph. [the quadratic equation helps you solve for one of them.] Are the equilibria you identify stable? Does stability matter to Acme?
- A market analysis employed by the “Sad Student Company” reveals that the number oflots of the game named “Handsome Killer: Revenge of the Teacher” ordered by thewholesalers when the game is offered at a price of dollars per lot is given by the formula:p=1500-2.5qa) Find the company’s total, marginal and average revenues b) Find the price and quantity maximizing the total revenue by first expressing therevenue as a function of price rather than of quantityYour manager is only concerned with selling her product for the highest price possible under profit- maximizing conditions. In which of the two markets should she operate? • Market 1: - Demand:Q=100-2P - MarginalCost:MC=15 • Market 2: - Own-PriceElasticity:εQ,P=-2.5Note:Thisimpliestheown-priceelasticityis constant at all points. - MarginalCost:MC=15 a. She should operate in Market 1, as it has the highest profit-maximizing price. b. She should operate in Market 2, as it has the highest profit-maximizing price. c. She is indifferent, as each market has an equal profit-maximizing price.A6 3) Pricinga) Provide a real-world example of third-degree price discrimination (with a hyperlink to the example). Discuss what prevents re-sale in your example (i.e. why can’t people who pay a lower price sell the good to people who face a higher price?). b) Provide a real-world example of a seller offering a “decoy option” (with a hyperlink to the example). Discuss how you expect the demand for the other options to change if this decoy option was removed from the market by the seller.
- Your current prices are $311 in the Southwestern region; $278 in the western-region and $240 in the New England region. Your marginal cost is now $212.21. Given the predicted changes in quantity demanded by region per problem 1 using the stay even analysis %ΔQd = %ΔP/[%ΔP +((P-MC)/P)], can you raise prices by 7% in any of the regional markets? State your conclusion and then show the all the steps supporting your conclusion. (Note you are not being asked to compute the new price. The predicted changes in quantity demanded by region per problem 1 are: 19.32 or 19% percent change in quantity demanded for the Southwestern region Western Region is 0.245 or 24.5 or 25% NE Region is 0.4032 or 40.32 or 40% I don't understand this question and need assistance.Explain Briefly with zero plagiarism In the selling process or in negotiations, who typically has the upper hand, the buyer or the seller?Consider a market transaction that you have recently undertaken for considering) as a consumer which was notable because it is particularly recent. large, or unusual. Analyse this transaction from a micro-economic standpoint a. Explain how & why (from the supplier perspective, the good or service of your choice was created, and the reason you entered the market to secure this product or service (on demand side). b. Discuss in general terms the factors on the demand and supply sides that will have influenced the price you paid for this product. Show what might happen to the price of the product if one of these factors changes in the equilibrium framework c. Assess whether the product of your choice is likely to be price elastic or inelastic at the current market price (from demand perspective). Following this assessment describe the likely impact on the supplying company's revenue following an increase in the price they charge (ceteris paribus)