To encourage bike riding the State decides to completely subsidize the cost of bikes as well as their maintenance.** This subsidy costs the government______ per day and causes the number of trips in equilibrium to increase to_____thousand per day
Q: Mayers & Smith Corp. has a fertilizer plant. The probability of an explosion at the plant depends on…
A: Marginal cost refers to the cost incurred from the production of one more unit of a good while…
Q: There are 40 people living in a village each having preference over apples and shirts represented by…
A: The above utility function is of Cobb-Douglas form: U(x,y) = xay1-a So we use the formula to find…
Q: I have enough money to buy five regular priced CDs and $6 left over. However, all CDs are on sale…
A: Let the total amount of money be $x let the cost of 01 CD be $y from given - x - 5y = 6 ——(1) 9y…
Q: A competitive firm charges a price of 50 PHP per output produced, given by Q = L0.25 K0.25. The…
A: 1) L= Maximize profit st the constraint Profit=Price*Output Profit=50Q Profit=50L0.25K0.25…
Q: 1. The CEO of Trion Realty has four independent projects that he can fund this year to improve…
A: DECISIONS UNDER CERTAINTY.This category of decision-making issues comes from the literature on…
Q: Player 1 Cooperate (C) Defect (D) Cooperate (C) 3,3 8,0 Player 2 Defect (D) 0,8 1, 1 Suppose the…
A:
Q: The demand for Peet's Coffee over a week should be more elastic than the demand for Peet's Coffee…
A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…
Q: Roscoe Del Fierro has four independent vendor proposals to contract the nationwide oil recycling…
A: Net present value (NPV) is utilized to compute the current value of a future stream of payments from…
Q: Calculate the correlation coefficient for the following ordered pairs. 2 D 5 r= X y 8 6 5 9 2 11…
A: A correlation coefficient refers to a statistical indicator of how well changes in one variable's…
Q: Refer to Table 19.1. In Guatemala, the opportunity cost of 1 bushel of oranges is Group of answer…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…
Q: Fill in the blank: Consider the fossil fuel energy industry. What is the relationship between energy…
A: Related goods are those goods which have price impact of one goods to another. and there are two…
Q: If the effects of expansionary fiscal policy are delayed by recognition, implementation and impact…
A: Expansionary fiscal policy refers to the one that is implement to stimulate aggregate demand to…
Q: For each of the production functions below, find the marginal products of both inputs, and indicate…
A: A brief introduction to the production function: A production function portrays the functional…
Q: Regarding a supply and demand model, what would happen to the equilibrium price and quantity if the…
A: In the demand and supply model, the equilibrium would be achieved when the demand and supply curve…
Q: 7. All of the following except one are initials of international trade organizations. Which is the…
A: The exchange or trade of products and services between various countries is referred to as…
Q: O for Row. N for Column. O for Row and N for Column. In game i, if there is a Nash equilibrium in…
A: A game theoretic approach in economics refers to a tabular representation of strategies and payoffs…
Q: Consider a country where per capita GDP (Y/L) is 1/4 of the one in the US and the capital per worker…
A: Per worker production function of the US: (Y/L) = A(K/L)1/3 Where the per capita GDP in the US is…
Q: Suppose the demand for taxis in a town is p = 10 - Q. There are only two taxi companies, and each…
A: Cournot model assumes Nash equilibrium which means that each firm in cournot model chooses its…
Q: Consider a market with 3 firms and the following demand from consumers P = 110-Q. Each independent…
A: An oligopolistic market structure is one where a few firms dominate the entire market. Each firm has…
Q: The following graph plots the short-run Phillips curve for a hypothetical economy. The given point…
A: The Phillips curve visually depicts the economic link between the rate of unemployment (or the rate…
Q: If the inverse demand curve is p - 150-3Q and the marginal cost is constant at $12, how does…
A: Given Demand function: p=150-3Q ...(1) Marginal cost MC=$12 Monopoly produces output at the…
Q: Suppose that every driver faces a 1% probability of an automobile accident every year. An accident…
A: Actuarially Fairness In economics, an insurance contract is known as actuarially fair if its premium…
Q: The coefficient of determination, R^2 determines: Select one: O a. the direction of the relationship…
A: A linear regression model is used to predict the value of the dependent variable at a given value of…
Q: iv. Total revenue at Q*: TR=S 2475 Incorrect
A: Total revenue is the product of price and quantity. Profit is the difference between total revenue…
Q: Calculate the marginal utility per dollar of going from eight to nine DVDs. * To increase total…
A: Marginal utility is the additional pleasure a consumer receives from having one more unit of a good…
Q: Consumption $550 Investment $200 Exports $60 Imports $90 Government Spending $100 Taxes $70…
A: GDP is a measure of all value added created inside an economy. The gross domestic product, or GDP,…
Q: Now assume we can derive an economic analysis from the biological relationship. Fisherman select the…
A: Revenue in Economics is the earnings that an entity earns from its normal business operations, it is…
Q: In class discussions about uncertainty we assumed that the utility levels in each state of nature…
A: Given information
Q: In the real world we don't observe countries completely specializing in the production goods for…
A: Q 24. In international trade theory, it is stated that one country would engage in trade with…
Q: Suppose Rashard and Alyssa are playing a game that requires both to simultaneously choose an action:…
A: Dominant strategy is the strategy which yields the highest satisfaction to a player by choosing a…
Q: 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 O $60.00 O $100.00 $40.00 0 O $20.00 2…
A: In monopolistically competitive market and monopoly, A firm or monopolist will produce where MR =…
Q: Specialty Cakes is a monopoly of birthday cakes in Tahoe village. Assume that it produces an output…
A: A monopolist will produce where MR = MC MR is the marginal revenue MC is the marginal cost. Break…
Q: Your preferences are represented by the utility function U = (x1.5 + x2.5)2, where the price of good…
A:
Q: A seller offers to sell an object to a buyer. The buyer and seller's valuations for the object, v…
A: Second-price auction is the auction in where highest bidder wins the bid but he or she will pay the…
Q: Exhibit 8-6 $/q P₁ P₂ P3 MI a b c d MC e ATC AVC -D₁= MR₁ -D=MR₂ -D=MR₂ q/t Consider Exhibit 8-6. At…
A: The profit-maximizing quantity and price can be calculated by setting marginal revenue equivalent to…
Q: Please do not answer question in image. Please draw graph as a supply and demand graph with all…
A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…
Q: Canada is a party to which of the following RTAS (regional trade agreeme A.ASEAN b.EU C.NAFTA…
A: Trade agreements are contracts between two or more trading nations that promote a favorable trade…
Q: A furniture firm has the capability to producer chairs and tables. Management wants to evaluate…
A: Economies of scale refers to the cost advantages experienced by a firm when output increases.…
Q: Who determines money supply and how does the money supply curve look like?
A: The money supply refers to the total quantity of money (currency + deposit money) in an economy at…
Q: When a firm determines the cost of hiring another worker, the wage = a. the value of revenue b. the…
A: Cost refers to the expenses that incur in the production process. It include all the expenses like…
Q: i. ii. iii. iv. Does Leninslavia meet the conditions necessary to implement price discrimination?…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: A market failure in banking occurs if: Information asymmetry exists between the borrower and the…
A: Investment is the payment that is guided into the international market to be paid today for future…
Q: (Problem 3, Page 477) In a certain economy the expectations-augmented Phillips curve is π = π² - 2…
A: Phillips curve, graphic representation of the economic connection between the rate of unemployment…
Q: Regarding the merger in Q8: "Mike Coupe, the boss of Sainsbury’s, had claimed that prices would…
A: When two companies come together into an agreement and form a new, single company, then it is said…
Q: Stage of Production Dollar Value of Sale Stage 1 Stage 2 Stage 3 Stage 4 0.08 0.10 0.25 0.32 0.75…
A: A brief introduction to GDP and its measures: The value of all current year final goods and services…
Q: 2. Spectral provides internet services in Winnebago. The production function for Spectral is given…
A:
Q: a) According to economic theory, the difference between the long run and the short run is: O. not…
A: Q1) A profit-maximizing firm produces the optimal output at a minimum cost outlay. The cost of…
Q: Product differentiation is the main difference between perfect competition and monopolistic…
A: The ideal market system has complete and symmetric knowledge and no transaction costs for all…
Q: 7. Compare the alternatives shown below on the basis of a future worth analysis, using an interest…
A: Salvage value is the book value of an asset after all depreciation has been fully expensed. The…
Q: Producer surplus is calculated: Question 15 options: By taking the consumers' willingness to…
A: The difference between the consumer's actual price for the good and the utmost price they would be…
Step by step
Solved in 2 steps
- Use the following marginal benefit and marginal cost functions for activity A: MB = 100 - 5AMC = 20 + 3A The fifth unit of activity Awill increase net benefits by 75. reduce net benefits by 35. decrease net benefits by 40. increase net benefits by 40. reduce net benefits by 75.to treat a sore back Kyoko undertakes a course of physical therapy.Kyoko's marginal benefit from her first physical therapy session is $250 from her second its $225 , from her third its $175 anf from her its $100. physical threapy sessins cost $175 each. assuming kyoko's final physical threapy session will earn her zero consumer surpus, kyoko will have _ physical threapy sessions and her total consumer surpus will be_ A .four, $0 B. three, $100 c. four, $125 d. three, $125Explain how your charity will make a difference to that counrty. is it a sustainable project? Discuss your views. (100 - 150 words) - plz answer this question it is not an essy, it is a homework given for a group ( its about establishing acharitable organization that help children in India and help to get their full rights. e.g. health and other things)
- Suppose you have inherited a few acres of landfrom a relative and you are considering what to dowith your inheritance. A farmer with land next toyours offers to buy your acres so he can expand hisgrazing area. How will you decide whether to sellyour land to the farmer? What factors should youconsider?i wanna the anwsers of quetion 5 E ,F and the steps to do them tqThe condition that arises because the availableresources are insufficient to satisfy wantsSelect one:O aa. ScarcityO b. DeflationO c. CredibilityO d. Rationality
- Intermediate MicroeconomicsProblem Set 10.Submission options:• in person during lectures or TA sessions;• in Xiaoye Liao’s mail box at 19 West 4th, 6th Floor;• (less recommended) e-mail Xiaoye Liao atxl775@nyu.edu– in that case, be sure to use the subject line: “Submission Problem Set 10â€.Exercise 1Consider a game of rock-scissor-paper. There are two players, player 1 and player 2,and the winner receives $1 from the loser (if they draw, nothing happens). They playthis game simultaneously.1. What kind of game is this? Express this game in normal form.2. What are the set of possible actions and strategies?3. Find all Nash equilibria of this game.Exercise 2Consider a game represented by the following payoff matrix. Find all pure strategyNash equilibria. UMD LCR?10, 0 ?10, ?1 ?10, ?1?8, ?8 0, ?102, ?14, 57, ?101, 1 Exercise 3Consider a game represented by the following…I need a solution for 2.18[A] Suppose that a drug company has developed an ointment that can be used to treat sores and reduce scarring. Surveys indicated that the ointment, which costs $10,000 for a full course of treatment, can improve the quality of life from 0.6 to 0.7 for patients with this problem. Assume that this population has a life expectancy of 70 years. No need to worry about discounting. 1. What is the Incremental Cost-Utility Ratio (ICUR) for taking the ointment over doing nothing for a typical 20-year-old patient? [Hint: This patient has only 50 years of life remaining.] 2. If the cost-effectiveness threshold is $5,000 per QALYS, will the 20-year-old patient choose to get the ointment? What about a 60-year-old patient? [B] Is it appropriate to evaluate a healthcare intervention using various methods of economic evaluation as discussed in this course, or should we choose one primary method that best fits the analysis?
- On Tuesday 4 October this year, the Minister for the Environment, Tanya Plibersek, announced a new strategy to protect Australia’s threatened plant and animal species. The Saving Native Species Plan will cost $224.5 million. (a) How would you define the benefits of this expenditure? (b) Could the economic benefits be quantified?When AVC= 600 AP= 0.14 , find w.Q MUa MUb 1 30 20 2 21 12 3 15 5 4 12 3 Pa = 3 € Pb = 1€ I = 12 € Give recomendations for consumer! Argue!