The following graph shows the daily market for jeans. Suppose the government institutes a tax of $20.30 per pair. This places a wedge between the price buyers pay and the price sellers receive

Q: The following picture represents the impact of a change in total factor productivity. What happens t...

A: We see that the leisure taken has not decreased, which means that the labor hours reamains the same....

Q: Suppose you are in charge of sales at a pharmaceutical company, and your firm has a new drug that ca...

A: Elasticity of demand measures the responsiveness of quantity demanded the respect to change in price...

Q: machine cost P45,000 with an estimated life of 5 years. Its salvage value is P 2,500. Find its depre...

A: Machine cost = 45000 Life = 5 years Salvage = 2500  

Q: 11. An amount of P 250,000 is now deposited into a savings account that earns 12% compounded continu...

A: Given: Initial amount=P250,000 Interest rate=12% compounded continuously Number of years=5 Withdrawa...

Q: The budget function for the economy of Sunsville is T - G = -400 + 0.25Y. a) Suppose income is $4,0...

A: Given the budget function of Sunsville: T-G=-400+0.25Y        ... (1)   When the value of T-G is pos...

Q: A company purchased an equipment with the initial cost of 50000$. The annual operating cost of the e...

A: Net present value (NPV) is the difference between the present value of cash inflows and the present ...

Q: Which is not an accurate summary of the Columbian Exchange? The idea of a would wide economy based i...

A: The "Columbian exchange" is also referred to as the Columbian interchange, it was the widespread tra...

Q: money is worth 9% annually, what annual payment is required to raise ₱ 17,765 after 2 years if payme...

A: Given question is based on computation of present value of future expected cash flow. formula as : p...

Q: Nex The Coase theorem states that A. the best way to limit pollution is by taxing producers who poll...

A: The Coase theorem was proposed by financial specialist and Nobel prize laureate Ronald Coase. The th...

Q: Match the following items with the type of economy they relate to Free markets create the most wealt...

A: * ANSWER :-    (2) Based on the above information the answer is provided as below.   

Q: Explain the knowledge problem faced when attempting to plan an economy. Does this have any relation ...

A: Government must use fiscal policy to increase employment by increasing aggregate demand in order to ...

Q: demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?

A: Answer is given below

Q: Assume Canada is a large importer of raw materials from Otherland. Which of the following would like...

A: GDP measures the complete money or price of all finished merchandise and services created within a c...

Q: Consider an economy that is characterized by the following equations: C = 150 + 0.65(Y – T) – 200r T...

A: Aggregate demand measures the overall amount of demand for all finished product and services created...

Q: 5. Mr. Jo needs P 4,000,000 immediately to pay for a new home. Having insufficient fund for this, he...

A: Given: Amount required immediately=P 40,00,000 Borrowed amount=P 20,00,000 Repayment of loan=every s...

Q: Karl Marx argued that an 'Industrial Reserve Army of the Unemployed' would be produced by capitalism...

A: a). There are valid justifications why capitalism produces and reproduces unemployment after some ti...

Q: The controversial campaign spending decision of Citizens United v. Federal Election Commission Selec...

A: The citizen's united versus federal election commission The supreme court of America prohibited the ...

Q: Find the value of national income if the domestic income is $130 and the net factor income from abro...

A: Initially in the question Domestic income is = $130 Net factor income from abroad is = $53 National ...

Q: If the governments efforts to reduce demand are effective, what happens to price and usage of mariju...

A: If the demand is reduced by imposing heavy taxes and excise duty, then it would lead to the high pri...

Q: A monopsony hires workers at the quantity of labor for which

A: Monopsony is a market consisting of a single buyer. In the case of labor market, there will be only ...

Q: John quit his part-time job as a teacher earning AUD 40,000 per year to start his own food kiosk bus...

A: Formula to calculate:- Accounting Profit:- Accounting Profit=Total revenue-Explicit Cost Economic Pr...

Q: The demand and supply of reserves are given in the following schedules: Supply (billion) S1,000 S1,0...

A:

Q: What is the profit-maximizing quantity and price. How much economic profit does the monopolist earn?...

A: In economics, profit maximization is the short run or long run process by which a firm may determine...

Q: In a unitary system of government, -------- O the national government has legal control over local g...

A: A unitary state is one in which the central government is the supreme power and the state is control...

Q: Calculate change in price uf elasticity of is-2 and percentage change  in Quantity demanded is 5%

A: To determine the link between quantity demanded and demand determinants, elasticity of demand is use...

Q: If deflation occurs, and your income is fixed, your real income will: a. fall. b. remain equal to yo...

A: Real income is the nominal income adjusted for the price change.  Real income = (Nominal income / Pr...

Q: Enumerate the major characteristics of research and explain each.

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...

Q: 4. The profit function of Firm GG is n=-2q2+280q. What is the profit maximizing quantity?What is the...

A: Given: Profit function, p=-2q2+280q  

Q: Derive and use the equilibrium in the goods market (Keynesian cross) to explain how a drop in consum...

A: In the Keynesian cross we have, C=a+cY, where c is the marginal propensity to consume. equilibrium o...

Q: What are the breakeven points and the range of profitability for below given Total profit general eq...

A: Break-even point refers to the point at which the total revenue is equal to the total cost. There is...

Q: 1. In a simple but delicious world, Joey eats only sandwiches, s, and jam, j. He has a Cobb-Douglas ...

A: Since we answer a maximum of 3 subparts, a-c will be answered here. Please reupload the question men...

Q: Q2. Given the following data in 2020, calculate the country's GDP in that year. Show steps of your c...

A: Investment= Purchases of capital equipment+ Purchases of structures+ Inventory accumulation Investme...

Q: P(z > 1.80) = a 0.9713   b 0.9641   c 0.0287   d 0.0359

A: We have to find the area of z greater than 1.80 under the standard normal table. i.e., P(z>1.80) 

Q: e. It is sometimes said that competitors in an oligopolistic industry need a price leader to “straig...

A: An oligopoly is a market structure in which a small number of enterprises have a significant amount ...

Q: If the income effect is smaller than the substitution effect following a change in productivity, var...

A: Income effect is the effect of change in income on the purchasing decisions or consumption. If the i...

Q: 1. An industrial plant is considering the purchase of a centrifugal pump. Three offers were received...

A: The economic life of an asset is the amount of time it is useful to its owner.Salvage value is an as...

Q: Determine the present value of a perpetuity of 10,000 pesos payable semi-annually if the money is wo...

A: Semi-Annual Amount = 10,000 number of payment in a year = 2 compounding period = 4 r = 8%    

Q: A computer machine initially worth P 50,000 depreciates in value each year by 20% of its value at th...

A:     Given : Initial price=P50,000 rate=-20%(depreciating) time=9 yrs.   Formula used : Final price ...

Q: Which of the following best defines a public good? Select the correct answer below: A public good is...

A: A good is nonexcludable when it is not possible to prevent people from enjoying the benefits of the ...

Q: gure 3.10 $4 $1 Number of pizzas per week Price of pizza

A: In the question above, pizza and pizza sauce are the complementary goods. These are those goods whic...

Q: What will be the value of real GDP if the quantity is 15 and the price is 62?

A: In an economy, real GDP refers to the value of final output generated in a specific year that is exp...

Q: Some economic historians have noted that during the period of the gold standard, gold discoveries we...

A: Economic historians are typically well positioned to answer similar concerns regarding contemporary ...

Q: Are Major League Baseball clubs profit-maximizing monopolies? Some observers of this market have con...

A: The measure that depicts the change in quantity being demanded with respect to change in levels of p...

Q: 1. Place the phases of the Business Cycle in order. The phases (in no particular order here) are: Re...

A: Answer- 1) The economy's full employment level is referred to as PEAK. The term "recession" refers ...

Q: Assuming Amazon is operating on the efficient frontier, give two examples for how Amazon can shift t...

A: According to the theory, it is possible to construct an efficient frontier of optimal portfolios off...

Q: In a unitary system of government, O the national government has legal control over local government...

A: In a unitary system the only level of government besides the central is the local or municipal gover...

Q: Show, using a curved PPF, what would happen if there was a terrible natural disaster that destroyed ...

A: PPF curve is a curve that shows the various level of combination of two goods that an economy can pr...

Q: If you can prevent someone from consuming a good, that good is called

A: If a good is prevented from its consumption, then it is an example of a private good.

Q: The New York Times has stated that Mylan, the company that makes the now infamous Epipen, has become...

A: A patent is a sort of intellectual property that grants its possessor the legal right to prevent som...

Q: Which of the following will shift an economy's production possibilities curve outward?

A: Production possibility curve is the graphical illustration of the the combination of two goods that ...