Toyota cars and Honda cars are substitutes. If a technological breakthrough reduced the cost of producing Toyota cars: a. What would happen to the supply of Toyota cars? b. What would happen to the price of Toyota cars and the quantity exchanged? c. What effect would this change in the price of Toyota cars have on the market for Honda cars? d. Draw graph(s) for each answer, respectively.

Q: What is the use of inflation-adjusted figures?

A: Inflation is the cost of goods and services rising across the economy. Because inflation is not a…

Q: According to the analysis and data presented in class, the following are facts and possible reasons…

A: The answer is - Salaries for average wage earners have increased in proportion to their real…

Q: ifered a crane-mounted pneumatic breaker which will cost P 1,200,000 with a s 000 at the end of its…

A: Interest on investment the occasional receipt of inflows on monetary instruments like bonds,…

Q: 1.2 An industry with many stores offer laminating as a service to their customers. Suppose that each…

A: Given; Total Cost function; C(q)=50+0.5q+0.08q2 Marginal Cost function; MC=0.5+0.16q Current…

Q: Taco King hires workers to produce tacos. The market for tacos is perfectly competitive, and tacos…

A: In the question, it is given that, taco sells at $2.50 each the wage rate is $75 a day

Q: How would a Keynesian Economist use Fiscal Policy to fight a Recession? Please do not write about…

A: "Recession means reduction or fall in the economic activity and this fall is visible in real GDP,…

Q: What are the economic costs that society pays for a lifelong smoker? A. Taxes paid on tobacco help…

A: Economic cost refers to the cost borne by society due to a course of actions undertaken by…

Q: In autarky, the quantities produced and consumed by a nation will be  determined by: a) The point at…

A: The term "autarky" refers to a country that is self-sufficient. Self-sufficiency and restricted…

Q: A basic life insurance illustration of non-guaranteed elements must be accompanied  by a statement…

A: Insurance refers to the policy or scheme that banks or firms give its customers in exchange for some…

Q: which of the following statements is true? O since fixed costs are constant as output changes in the…

A: The statement that since total fixed costs are constant as output changes in the short run, it…

Q: The sole hirer in a labor market confronts the following labor supply curve: Labor Wage 1 8 2 16 3…

A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a…

Q: What is the reason that Wholesalers are the most misunderstood of marketing intermediaries?

A: When talking about market intermediaries, wholesalers and retailers play a significant role in the…

Q: QUESTION TWO Carefully study the graph below and answer the questions that follow. The graph show…

A: Introduction We have given a firm operating in perfect competitive market. Perfect competition is a…

Q: Let's assume that in the Asgardian's model of the economy the natural rate of interest is denoted as…

A: Asgardian's model of economy   This is nothing but the theory which takes the society's benefits and…

Q: An industry with many stores offer laminating as a service to their customers. Suppose that each…

A: An industry is in the long run when the Long Run Average Cost is equal to the Long Run Marginal Cost…

Q: When sales are being maximized, it is true that O demand is elastic. O profits must also being…

A: PLEASE FIND THE ANSWER BELOW.   ELASTICITY OF DEMAND: Elastic demand is one in which the change in…

Q: With the aid of an Edgeworth Box diagram explain when efficiency in exchange is achieved in an…

A: The Edgeworth box, which provides for the analysis of the interaction of two persons trading two…

Q: The graph shows the demand curve for cable television. Assume that monopoly conditions apply. What…

A: In the graph, it can be seen that the price charged at 12 units of houses is $6 and the price…

Q: Which of the following will increase the supply of cellphones? (Check all that apply.) Multiple…

A: A change in the quantity supplied is different than a change in the supply.

Q: How can we lessen the negative impact of globalization to our nation?

A: Globalization is the term which describes the interdependence of nation for trade of goods and…

Q: 17. To which of the following government programs would a single, cross-country truck driver with no…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Given the national income model Y=E; E=C+I where C= 280 +0.6Y, lo=80: a) Write down the value of the…

A: The macroeconomic equilibrium of the economy is achieved where the total income of the country is…

Q: Demand function: 2QX=2200-PX Supply function : Qx = -300 +3 Px Sales tax per unit : 150 Calculate…

A: A .  Pre tax Total surplus  = 945,000 where  CS = 810,000 ; PS = 135,000   Post tax total surplus  =…

Q: Which of the following statements regarding a nonresident insurance producer is CORRECT? 1.The…

A: Insurance producers are authorised to sell and negotiate life, health, property, and other types of…

Q: Compare and contrast traditionaland contemporary views on the qualityof urban life.

A: Urban quality of life is a complicated subject that can be defined by numerous disciplines and is…

Q: Consider an income distribution S: (10, 20, 30, 50, 100). Suppose it is divided into two groups,…

A: Poverty line  The poverty line in an economy represents the minimum level of income, which shows the…

Q: Find an expression for the profit function given the demand function 2Q + P = 24 and the average…

A: 2Q + P = 24 P = 24-2Q AC = 48/Q + 4

Q: Differentiate between limited-line and a specialty-line wholesaler.

A: A wholesaler is a person who sells the quantity in the bulk. It means the retailer buys the quantity…

Q: A firm can sell its output at the price p=10 per unit.  The firm’s cost function is C=16+q2 To…

A: Given:  P=10 per unit Cost Function :  C=16+q2

Q: Question 5 With the aid of a graphical illustration, explain the deadweight loss from monopoly…

A: Monopoly is a market situation which is just opposite of monopsony market whereby a monopolist is a…

Q: refer to the following table: Consumption expenditure (C)= 100+ 0.8 Yd Investment expenditure (1) =…

A: Answer: Given, C=100+0.8YdI=120-500iG=50 G rises by 100, Thus new G will be:G=150Taxes=0.1YMoney…

Q: 3. Which of the following items will NOT affect an economy's PPF in Country XY? 4 O The development…

A: When the economy's potential GDP increases, the production possibilities frontier shifts outwards,…

Q: A __________ is a concentration of people whose major social and economic needs are satisfied within…

A: In an economy, when people are not able to  satisfy their social and economic needs in which they…

Q: Why do many people feel that local self-sufficiency is important? What consequences of globalization…

A: Globalization refers to the interdependence of the countries on each other for specific goods,…

Q: Analyse graphically how the Solow model growth implies that poor countries should experience a…

A: The Solow Growth Model is an exogenous model of economic development that analyzes differences in…

Q: Through developing countries make the largest contribution to the global concentrations of…

A: Introduction In developing countries, largest contributor of green house gases is deforestation.…

Q: 11. The following payoff table involves two players each of whom has three possible moves. L M N L…

A: Dominant strategy is the strategy which gives high payoff to the player in comparison to all the…

Q: Consider the Solow model. Using suitable diagrams, compare the different dynamics for the levels and…

A: Solow model represents steady level of per worker capital growth and per worker output. y=f(k) y=…

Q: 6. In a simple economy there are 2 inputs, each fixed in supply. These inputs are owned by two…

A: Assuming there are two inputs, each of which has a fixed supply.

Q: Use the following graph for a monopoly to answer the questions that follow. What quantity will the…

A: Market refers to the place where buyers or sellers sell and buy goods and services in the market.…

Q: firm plans to begin production of a new product. The manager must decide whether to buy the product…

A: Annual fixed cost 160,000 and $190,000 Variable cost $5 and $4 Annual volume A firm has three…

Q: Given the national income m (a) Write down the value of t (b) Graph the equilibrium equ determine…

A: * SOLUTION :-  Given that ,    C = 280+0.6y  I = 80  then  E = C+I  E = 280+0.6y+80 E = 360+0.6y

Q: tion on October 1. He is worried about the increasing forex prices, and wants to lock the forex rate…

A: * SOLUTION :-  Given that ,

Q: Insurance producer license fees are deposited into which of the following accounts? The California…

A: Insurance producer" or "producer" signifies an individual expected to be authorized under the laws…

Q: If the FOMC sells bonds, we would expect that the economy is facing ... Group of answer choices a.…

A: The Federal Open Market Committee (FOMC) buys and sells government bonds to make changes in the…

Q: When marginal revenue is negative, demand is: elastic. O There is not sufficient information to…

A: Merely in easy language we can say that marginal revenue is known to be as the certain rise or the…

Q: Why is monetary policy chosen over fiscal policy as the preferred tool for stabilization policy

A: Monetary and fiscal policy are the two most well-known techniques for affecting a country's economic…

Q: 7) Suggest a policy mix to achieve the following objectives: a. Increase Y while keeping i constant.…

A: Answer a.  An expansionary fiscal policy (raising G or decreasing T) paired with an expansionary…

Q: Globalization refers to the worldwide interconnectedness and integration of commodities, services,…

A: Worldwide interconnectedness is defined as a phenomenon in which every nation in the world is…

Q: Cyclical theories explain the reason social change occurs. T or F?

A: Social Change is explained through 5 theories : Evolutionary Cyclical Economic Conflict…