Q: 1)a 5% increase in income causes a 3% increase in the quantity demanded of whiskey. The price of…
A: Note: You have uploaded two different questions simultaneously. Hence, we shall solve only the first…
Q: A monopolist faces inverse market demand of P = 140 - and has Total Cost given by TC(Q) = 20? + 10Q…
A: Profit maximization is a manner commercial enterprise corporations go through to make certain the…
Q: The graph below depicts the production function of grain for farmers under average growing…
A: Production-Possibilities Frontier refers to the idea that scarce factors of production, such as…
Q: The automobile industry in Macroland successfully lobbies for import quotas that result in…
A: A quota basically refers to a government-imposed trade restriction that restricts the quantity or…
Q: The table below shows the quantity demanded and supplied at various wage rates for a competitive…
A: Equilibrium in the labor market occurs where quantity demanded equals quantity supplied of workers.
Q: With the following images, explain what is meant by a cyclical deficit
A: A deficit arises when costs exceed income, imports outweigh exports, or liabilities exceed assets in…
Q: a.Evaluate the reasons we see the prevalence of intra-industry trade between similar economies.
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: The US was #1 in math and science education in the 1960s, but now ranks: O outside the top 10 in…
A: Ranking means position on scale.
Q: The W Brewery company produces beer, which it sells to distributors in barrels. The brewery incurs a…
A: Given Fixed cost for beer production =$16,506 Variable cost = $20 per barrel Demand constraint: v=…
Q: If the demand for money exceeds the available supply, it can be expected that: O the money supply…
A: Money supply is the currency available in economy as liquidity.
Q: Information concerning the fictitious small island nation of Llamalandia is Number of employed…
A:
Q: Because of issues of rivalry and excludability, greenhouse gas emissions can BEST be called a…
A: When talking about the rivalry an excludability of any good, it can be said that these two features…
Q: Reference the cash flows shown below. Pick the best alternative using the ERR method. MARR= 15%. e=…
A: The Economic Rate of Return is defined as the rate calculated from the Cashflow of an investment,…
Q: Problem 4. Equilibrium interest rate and exchange rate.f" Using the framework relating money…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub parts…
Q: A production function is characterized by ? = 10 + 5L, where q is output per hour and L is labor…
A: 1. A production function is characterized by ? = 10 + 5L, where q is output per hour and L is labor…
Q: While all economic theories say the government can positively affect the economy, some theories say…
A: The term "government intervention" refers to the situation in which a government acting as a rule…
Q: Use the aggerate demand and aggerate supply model to analyze the impact on the following scenarios…
A: AD and AS are aggregate demand and aggregate supply respectively which help to determine the price…
Q: Under free trade, advantage is the reason for positive gains to both economies, whereas under free…
A: Absolute advantage portrays what is happening in which an individual, business or nation can create…
Q: Use the table, with data for workers and businesses, to answer the question. The payoff cells are…
A: The equilibria are cells A and D.
Q: A price taking firm has zero fixed cost and increasing marginal cost. What quantity does it produce?…
A: A price-taking firm is such a firm that accepts the market price. A market price is a price that is…
Q: Grapes and bananas are perfect complements for Jane and Betty. Jane eats one grape per three…
A: We are given, Complement Function Jane's utility function = min {20 Grapes, 10 Bananas} Betty's…
Q: consider an oligopoly where firms sell differentiated goods and compete in prices. in this case the…
A: Oligopoly An oligopoly is a form of market in which there are some large sellers or producers in…
Q: Aira has invested $7,000, part at 4% and the remainder at 8% simple interest. How much is invested…
A: * SOLUTION :- Given that , Aira has invested $7,000 at 4% Simple interest is 8% the total…
Q: asap..i'll rate
A: *Answer: Option a. Educate is the correct Answer. *Explanation: providing valuable information to…
Q: Refer to Figure 20.1 to answer the following question. Figure 20.1: Exchange Rates EXCHANGE RATE…
A: Exchange Rate refers to the exchange value of a country’s currency in terms of another country’s…
Q: information refers to a market where one side (either the buyer or the seller, but usually the…
A: One of the effective ways of approaching asymmetric information is by screening. Screening is the…
Q: 7. What is the cost in real dollars today of spending $25,000 four years from now if your effective…
A: The measure that depicts the value of a stream of cash flows being discounted at a specific rate of…
Q: Discuss malevolent and benign mercantilism. What kind of activities would the State undertake under…
A: Mercantilism was a practice that existed throughout the 16th and 18th centuries. Because…
Q: Consider the real inter-temporal model of chapter 11. Suppose that the equation of output demand…
A: Given; Output demand curve; rYd=8 Output supply curve; Ys=9r Production function; Y=12K0.5N0.5 K is…
Q: A monopolist faces the demand function P= 10- Q and the total cost function TC% = 2Q. Showing all…
A: A monopolist is a market situation in which there exists competition among few. since the…
Q: The overall population for Region A is 119 million people. The labor force contains 43 million…
A: Unemployment rate is the % of unemployed person of total labor force.
Q: Let 0 be the saving rate, n the population growth rate and d the depreciation rate. Which of the…
A:
Q: Aggregate consumption varies less than aggregate investment. Briefly explain why this is true…
A: Due to the marginal propensity to consume is smaller than one, aggregate consumption grows slower…
Q: For each of the following situations, find the critical value(s) for z or t. a) H, p=0.6 vs. HA p…
A: Z value is a statistical measurement which is examined under normal distribution. Critical region is…
Q: Refer to the table below: 2020 Tax Data Tax Bracket Marginal Tax Rate $0-9,875 10% $9,876-40,125 12%…
A: Tax amount…
Q: O is an agency of the executive branch of the Federal government. O has the same status as the…
A: A national bank, save bank, or monetary authority is a foundation that deals with the money and…
Q: QUESTION 57 Consider the following game, where r is a non-negative integer: Player 2 R Ur+1,5 5,4 D…
A:
Q: QUESTION 22 500,000 An industry has two firms each of which produces output at a constant unit cost…
A:
Q: Consider the Ramsey Model of the macroeconomy. Explain using a phase diagram how an economy starting…
A: The Ramsey-Cass-Koopmans model, sometimes known as the Ramsey growth model, is a neoclassical growth…
Q: QUESTION 9 When thinking about withdrawals from the circular flow of income, what is the difference…
A: Introduction Circular flow of incomes tells about the movement of money in an economy. 9) Correct…
Q: Table 6 Pricing Strategy Scenario First Period Price Choice Table 6 First Period Profit (High or…
A: In this game there are two option for both the players that is the price choice either they can set…
Q: Consider the cash flow amounts, shown below, for a certain public project. Find the conventional…
A: The benefit-cost ratio (BCR) is a cost-benefit analysis ratio that summarizes the overall connection…
Q: The table shows employment statistics for a fictional country. Use the information to answer the…
A: New labour force:- = 5905 + 246 = 6151 New labour force participation rate:- = Labour force /…
Q: e) Given the following model; Qd= a-50 P Qs= -100 + 20P
A: We are given, Qd = a - 50P Qs = -100 + 20P The market will be in equilibrium when Qd = Qs From there…
Q: Which point will the consumer choose to maximize utility? O A. the point on the highest indifference…
A: A consumer maximizes his utility when MRSXY = PX/PY where MRSXY is marginal rate of substitution…
Q: (b) An investor's utility function is given by: U(w) = In(w 2 ) where w is the investor's level of…
A: U = ln(w2)
Q: (b) Use the easiest technique to determine which one of the following alternatives should be…
A:
Q: In the after-math of the financial crisis of 2008, the Federal Reserve bank started paying interest…
A: During the era of year 2000 the return from the treasury bonds were low and at that time the…
Q: You are self-employed profit maximization consultant, specializing in different market structures,…
A: Perfect competition is when the market functions in such a way that a large number of producers and…
Q: A store estimates is customer inverse demand is P= 6.1 - 2.6Q, and the marginal cost of each rental…
A: PLEASE FIND THE ANSWER BELOW. MARGINAL COST: In economics, the marginal cost of production is the…
What must be true if a firm is producing using the least-cost rule?
-
The firm invests in technology to reduce the costs of production.
-
The firm utilizes resources so that the marginal product per dollar spent is equal for all resources.
-
The firm has the ability to reduce their total cost below that of other firms in the industry.
-
The firm utilizes only the resources with the lowest cost.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- "Rational choice of consumers" is said to exist when Select one: None of the options are correct All of the options are correct People weigh the costs and benefits of each possibility in a reasonable manner In case of firms, rational assumption is to mean that firms operate to maximize profit People make decisions and choices in pursuit of his own self interestGoal Alignment between Airlines and Flight Crews Planes frequently push back from the gate on time, but then wait 2 feet away from the gate until it is time to queue up for take-off. This increases fuel consumption, and increases the time that passengers must sit in a cramped plane awaiting take-off. Why does this happen?According to the marginal decision rule, if marginal benefit: Group of answer choices A. exceeds marginal cost, an activity should be increased. B. is less than marginal cost, an activity should be increased. C. exceeds marginal cost, net benefit is maximized. D. is already equal to marginal cost, an activity should be increased.
- In contrast to manufacturing, agricultural production is stochastic, which implies that [Select one] Agriculture focuses more on stocks of commodities than on the flow of commodities. Agriculture is organized in households that are both producers and consumers. Agriculture changes dramatically from one place to another depending on local climate. Agricultural outcomes are partly random and out of the control of the farmer.Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. You have assigned your staff member, Troy, to divide a group of survey participants into a treatment group and a control group. The intent is tell Group A that gas prices have increased, and group B will be told that gas prices have not changed. Participant members will then be surveyed about their purchasing habits. When you come back from lunch you notice how Troy has set up the groups: Number of people Number of Men Number of Women Group A 75 2 73 Group B 75 70 5 You tell Troy that...... because the groups are........The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in office buildings. In many cases, these companies found it more cost-effective to remain working remotely after the pandemic. Fees for building rentals, electricity, and other expenses are not present when employees work from their homes. One challenge faced by this change in business practice is communication. Employees can no longer walk across the hall, or peek over their cubicle walls, to ask for clarification from their coworkers about an issue. Sunny Day Technology took advantage of this situation to develop and market new computer software to help corporations develop effective communication between virtual employees. Use the knowledge you’ve gained in this and previous Units to answer the following questions. Support your response by providing examples and details. How can More Sunny Day Technology Company market the right price for its new product? How can you comprehend…
- The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in office buildings. In many cases, these companies found it more cost-effective to remain working remotely after the pandemic. Fees for building rentals, electricity, and other expenses are not present when employees work from their homes. One challenge faced by this change in business practice is communication. Employees can no longer walk across the hall, or peek over their cubicle walls, to ask for clarification from their coworker about an issue. More Sunny Day Technology took advantage of this situation to develop and market new computer software to help corporations develop effective communication between virtual employees. Use the knowledge you’ve gained in this and previous Units to answer the following questions. Support your response by providing examples and details. How can More Sunny Day Technology Company market the right price for its new product? How can you comprehend…A software company produces specialized design software that has ardent fans among businesses and households. For simplicity, say there are 100 features to the software, and the company is deciding on what features to include in the professional and home editions. Once offered, businesses and households can choose to purchase either edition. For simplicity, assume: All costs are sunk (no fixed costs and no marginal costs). There are 100 businesses and 100 households in the whole market. Willingness to pay by the two groups for software with 10, 20, and 100 features is given by: Willingness to pay Features: 10 20 100 ---------------------------------------------------------------- Businesses 1,000 2,000 10,000 Households 200 400 2,000 a. Here’s one proposal: Quality Price Home edition: 20…Economic agents for example consumers or firms often do things Economic agents (for example, consumers or firms) often do things that at first glance seem to be inconsistent with their self-interest. People tip at restaurants and when they are on vacation even if they have no intention to return to the same place. Firms, sometimes, install costly pollution abatement equipment voluntarily. How can these deviations from Nash predictions be explained? Economic agents for example consumers or firms often do things
- Most automobile companies in the United States between 1970 and 1990 knew that Toyota was able to create and capture advantage over its competitors because of the way it works with its suppliers. This is an example of _____. Path dependence Social complexity Social Capital Early mover advantageWhich of the following would NOT be considered part of a firm's strategy? production levels which inputs to use sales strategy None of the above—all are part of a firm's strategy.Joe's search costs are $5 per search. He wants to buy a smart watch for his wife for Christmas, and the lowest price he's found so far is $300. Joe thinks 80 percent of the stores charge $300 for smart watches and 20 percent charge $200. Joe's optimal decision is to Multiple Choice continue to search for a lower price since the expected benefit of an additional search is $20, which exceeds his per-unit search costs. continue to search for a lower price since the expected benefit of an additional search is $80, which exceeds his per-unit search costs. stop searching and purchase a video player for $300. continue to search for a lower price since the expected benefit of an additional search is $100, which exceeds his per-unit search costs.
