Turn this assignment in on Blackboard by January 3, 1 PM China time. There are 13 questions.< 1. Suppose a city experiences substantial population growth. What is likely to happen to profits in the short run and in the long run in the market for haircuts, a monopolistically competitive market?

Q: Explain the circular flow between the household sector and firms sector with the financial market.…

A: The circular flow diagram is a visual representation of the economy that demonstrates how cash moves…

Q: Define FATF ?

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A: Introduction We have given data of a closed economy. National income of an economy can be defined as…

Q: A public good Multiple Choice о generally results in substantial negative externalities. can never…

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Q: The gains from two nations depend on ___________. Select one: a. terms of trade b. domestic barter…

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A: Given to us,  James has the means to purchase one of three vehicles: the Aleph, the Beth, or the…

Q: How does the value of production relate to expenditure and income? The value of production ____. A.…

A: Value of production is the total amount of Expenditure incurred in relation to goods produced.…

Q: 48. An increase in the consumer's money income: a. Causes a parallel outward shift in the budget…

A: In consumer theory, the combination of goods and services that a consumer can acquire for his or her…

Q: D Labor: Raw Material: FOR Makes 1,200 tires per day with the following resources: 400 hours per day…

A: Productivity is a computation of efficiency. It represents how well resources, such as labor,…

Q: How imports and exports are impacted by the pandemic

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Q: Explain the circular flow between the household sector, firms sector, financial market, government…

A: The five primary economic sectors are represented by the circular flow of income. Money moves…

Q: What level of output does Greensons Organic maximize profit? Justify/explain your answer and show…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output…

Q: How are the Union for the Mediterranean (UfM) affected and responded to the COVID 19 pandemic?

A: Union for the Mediterranean The Union for the Mediterranean is an international organization…

Q: How is U.S. total expenditure on goods and services in a year calculated?   U.S. total expenditure…

A: The expenditure method is the most widely used approach for calculating Gross Domestic Product,…

Q: (b) Derive the household’s compensated demand function for goods 1 and 2, i.e., obtain functions of…

A:

Q: 1. Assume that production technology is defined as Q = AL K³ where Q is the quantity produced, L is…

A: A production technology is the particular mix of labor, physical capital, and technology that makes…

Q: Compare the alternatives shown below on the basis of their AW and determine which alternative should…

A: The rule for selecting alternatives based on annual worth: The alternative whose equivalent uniform…

Q: The market demand for milk in country x is 18 billion gallons per month,but the supply is 10 billion…

A: At the marketplace, the output level at the market equilibrium is considered as the most efficient…

Q: What would happen if suddenly banks stop lending (this has happened in the past)? Can it grow?

A: A commercial bank is a type of financial organisation that takes deposits from the general public…

Q: The "useful" are hypothetical units of measurement with which we suppose it can be measure the…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: ENGINEERING ECONOMY RATE WILL BE GIVEN. WRITE THE COMPLETE SOLUTIONS/EXPLANATION LEGIBLY OR…

A: Yearly fixed costs for the plant = $150,000. Variable cost = $25 per units. Break even quantities…

Q: How do you think the costs of teaching a commerce degree online would compare to the costs of a…

A: A commerce degree could be taught online for less money than on-campus at a university because of…

Q: In a market-oriented economy, the amount of a good that is produced is primarily decided by the…

A: There are unlimited wants of people in the world, and resources to fulfill these wants are limited.…

Q: 2.5 To purchase a new truck, you borrow $42,000. The bank offers an interest rate of 7.5% compounded…

A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…

Q: Consider a simple economy that produces two goods: pencils and erasers. The following table shows…

A: GDP refers to Gross Domestic Product. It is the value of goods and services produced in an economy…

Q: Is tipping a waiter 15% of the bill traditional,market or command in economics?

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Q: Suppose inverse demand is given by the following equation: P(Q) = 600 - 20Q Suppose further that…

A: A monopoly is a market structure where a single seller or producer expects a predominant situation…

Q: Which of the following is true of sunk costs?   It is a type of opportunity cost. It is a type of…

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Q: How much (if any) does each of the following transactions raise GDP? The Jones family sells its old…

A: Buying and selling of old items or houses are not part of GDP calculation. Only commission during…

Q: Discussion Question The following quote appears in An Inquiry into the Nature and Causes of the…

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Q: If demand and supply change in the same direction, we _____ the direction of change of the…

A: When the demand and supply change in the same direction then,we can predict the direction of change…

Q: Consider the market for pita bread. All else equal, when tastes change such that more people like…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What of the following is an expenditure of an intermediate good excluded from GDP? A. American…

A: GDP refers to the final goods and services produced in an economy during a particular period of…

Q: Suppose that the price of product A increases from $10 to $19. As a result, quantity demanded for…

A: As it is not mentioned I am assuming that we have to find cross price elasticity = (dQb/dPa)x(Pa/QB)…

Q: 6 Price (dollars) CU D 400 600 Quantity 800 1,000 Exhibit 4-2 represents the orange juice market.…

A: Ans. The price ceiling is the maximum legal price that is set by the government below the…

Q: People will consistently sit through terrible movies at the theater instead of leaving early. This…

A: The foundation of economics as a discipline is the notion that resources used by economies have a…

Q: he quantity demanded x for a certain brand of MP3 players is 300 units when the unit price p is set…

A: The demand curve (DD) in economics is a graph that shows how many units of a product or service will…

Q: Required information Durco Automotive needs a $2 million balance in its contingency fund 3 years…

A: FV = 2 million r = 11%

Q: According to the figure showing 2020 GDP for selected countries, how much larger (in percentage…

A: We use the following formula to calculate the percentage asked: For Russia:  America's GDP -…

Q: for a. Write the social marginal benefit equation: MBS = Type integers. b. The socially optimal…

A: Streetlight is public good . Public good means a good which is non excludable and non rivalry in…

Q: Why would neoclassical economists think that the government doesn't need to take many steps to…

A: People that are able to work but are unable to do so are considered to be unemployed. People who are…

Q: Discuss five benefits of environmental regulation?

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Q: Draw areal symbols (circles) to represent the GNP per capital. Draw these relevent places on the…

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Q: ​Which of the following is a normative statement?   Group of answer choices   ​An increase in…

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Q: Describe three different kinds of economic systems.

A: Different kinds of economic systems include;    1. A command economy    2. A market economy   3. A…

Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: 1. Find fixed cost 2. find…

A: Cost of production occurs while producing goods and services in the economy. The production of these…