TRUE OR FALSE? The scarcity of raw materials will result in the shift of the supply curve upward to the left.

Q: 4    You quit your job as an analyst making $50,000. You then take your $500,000 in savings and…

A: An economic profit or loss is the distinction between the revenue received from the sale of an…

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A: Total Cost refers to the cost of all the processes and the costs of producing the total number of…

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A: Business cycles are intervals of expansion followed by recession in economic activity. It shows the…

Q: Last year, Jarod left a job that pays $80,000 to run his own bike-repair shop. Jarod's shop charges…

A: Accounting Profit : Accounting profit is the total earnings of a company. It comprises the explicit…

Q: 7. What is the average total cost function and the MC function? 100 a. ATC= +60³; MC = 80 b. ATC=…

A: Given; Production function; F(L,K)=L1/4K1/2 Wages; w= 2 Rent; r= 4

Q: Suppose that a perfectly competitive industry consists of 240 firms and fixed cost of an individual…

A: The competitive market consists of many buyers and sellers. All sellers have identical product.…

Q: Which of the following is NOT a determinant of supply? A. A change in technology. B. Consumer tastes…

A: A portion of the determinants of supply are innovation, the quantity of providers, assumption for…

Q: Suppose the price elasticity of demand for a good called "widgets" is 0.4. Is this good more elastic…

A: The price elasticity of demand measures the quantitative relationship between the price and quantity…

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A: A nation is usually said to have a trade surplus when its exports surpass its imports.A positive…

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A: "Long-term Care" referes to providing assistance to people of all ages for their medical needs or…

Q: (1) The ABC Corporation is the only producer of a particular type of laser. The demand curve for its…

A: "Monopoly is a market structure in which there is only one seller or one producer selling the…

Q: . What is the total gain in apparel and chemical output that would result from such specialization?…

A: Opportunity costs address the potential advantages that an individual, investor, or business passes…

Q: cost of coal Tumps is given by the following: MC=10+0.25Q. In addition, there is an external cost of…

A: In economics, deadweight loss refers to the loss in economic rents (or total surplus) that not…

Q: Paige runs a ferret farm in Athens, Georgia. Paige pays $1500 a week for equipment and $800 a week…

A: Total cost is a sum of fixed cost and variable cost. Variable cost here is the labor cost and fixed…

Q: Q.3.3 Explain the steps of the motivation process and how it applied to John.

A: Motivation: It is a process where people behave in a way that helps the business to achieve its…

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A: Inferior goods are those goods which have inverse relationship with income and demand .  but demand…

Q: Please discuss the following. 1. Financial markets are institutions and systems that facilitate…

A: 1. Financial markets are institutions and systems that facilitate transactions in all types of…

Q: Sarge's Lawn Mowing Service is a small business in a perfectly competitive market. The prevailing…

A: In the mentioned question we have been asked about the perfectly competitive market and ask about…

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A: Equilibrium is achieved at a point where demand curve intersects supply curve. At this point,…

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A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

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A: Given information At initial level government budget is balanced G=T G--- government spending T---…

Q: 5 Reserves Loans 18 0.61 Assets $300 $1,800 $2,100 Deposits Capital Liabilities Assume that Bank…

A: Given, Reserves = $300 Deposits = $1800 New deposit = $500 Reserve Ratio = (Reserves / Deposits) *…

Q: In a perfectly competitive market, the efficient quantity of a good will be produced when the good…

A: In perfectly competitive market, there are large number of firms selling identical goods.

Q: What type of unemployment is most likely to result in a hardship for people who are unemployed?

A: Unemployment refers to the situation of economy in which workers are not getting jobs where some are…

Q: Fill in the blanks by typing 'at most', 'at least', or 'equal to'. To receive credit, make sure to…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: Which of the following accurately describes the phenomenon of crowding out?     government…

A: Aggregate demand shows a negative relationship between price level and real GDP. The components of…

Q: Give three instances when RFID might be preferable over bar codes.

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Q: If a buyer values a house at $540,000 and a seller values a house at $485,000 and a 10% tax is…

A: Buyer's value of house = $540,000 Sellers value of house = $485,000 Tax levied = 10%

Q: All of the following helps explain why perfectly competitive firms are price takers except…

A: Perfectly competitive firm are the firm where there prevails the homogeneous product , having the…

Q: Price Level P3 P₂ P₁ Y₁ LRAS Y₂ Y₂ SRAS₂ AD₁ SRAS₁ AD₂ Quantity of Output Starting from P2 & Y3…

A: Short run aggregate supply curve shows a positive relationship between price level and real GDP.

Q: What is one explanation for why this labor supply curve is upward sloping? O Firms are willing to…

A: The measure that depicts various quantities of labor being supplied at different price levels is…

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A: Given information Initial investment= $295000---- by taking a loan Interest rate for repayment of…

Q: When the demand curve shifts to the left and the supply curve shifts to the right and the shift of…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: Suppose the price elasticity of demand for a good called "widgets" is 0.4. Is this good more elastic…

A: The degree to which a change in an economic element is met with a corresponding shift in demand is…

Q: Economics = e) Economic profit = (18,400 – 11,499)/0.97 = £7,114He should enter the business since…

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A: Economic growth and development represents an increase in real national income along with an…

Q: Explain concisely whether the statement is true or false: The GDP of a country does provide an…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: In this question, you'll explore the effect of a plentiful crop in Pennsylvania on the price of…

A: The measure that depicts various quantities of goods being demanded at various price levels is known…

Q: The following graph shows an increase in aggregate demand (AD) in a hypothetical country.…

A: "Aggregate demand in a nation represents the total amount of commodities demanded by consumers in a…

Q: The following graph shows the short-run aggregate supply (SRAS) curve and the long-run aggregate…

A: Here the supply curve is the curve depicting how much production of manufacturing goods is being…

Q: Suppose that De Beers and the local water utility are both monopolists, in the markets for diamond…

A: The structure of market where there is a single seller in the market who is considered to be a price…

Q: relation to your selected corporate business/organisation, select the position of the purchasing and…

A: All the activities of the business depend upon the Supply function of the management. Rae material…

Q: Suppose the GDP of Honduras is 100,000 lempiras and the exchange rate between Honduran currency…

A: GDP refers to the sum total of market value of final goods and services produced in a country during…

Q: A firm is currently producing such that: MPL = 30 W = 10 MPK = 20 To minimize the cost of…

A: Marginal productivity of capital is when an additional unit of capital is engaged in this scenario,…

Q: A certain property is being sold and the owner receives two bids. The first bidder offered to pay P…

A: The measure that depicts the current stream of income flows being discounted at a specified rate is…

Q: Explanation of Solution The computation of the proportion of portfolio must be allocated towards the…

A: Perpetuity:- A perpetuity is a type of investment which yields forever. In the financial world,…

Q: "If we take government action to raise incomes, this will increase demand for all goods and…

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…

Q: Why would an importing country use a tariff rather than a quota?

A: Tariff is a tax that is imposed on the goods that are produced outside the country and sold…