Use the principle of rational choice to determine which one to choose: a) Paying for Squid Game from Netflix for $12 which gets you 75 utility units, or b) Paid Snake Eyes from Catchplay for $2 which gives you 25 utility units

Q: An individual is observed throwing money into the sea. Is this behaviour consistent with the…

A: In economics, optimization aims at achieving efficient usage of the resources—maximization of…

Q: a. Plot the population growth rate function corresponding to the death rate and birth rate functions…

A: According to the Malthusian idea, population growth outpaces food production until famines,…

Q: 15. All else equal, a decrease in reserve requirements will cause a.state and local government…

A: All else equal, a decrease in reserve requirements will cause.

Q: Consider the graph showing the production function for coffee houses. The graph shows how output per…

A: Capital is an enormous amount of cash that you use to begin a business, or which you put resources…

Q: Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.…

A: Fixed costs are the cost which don't change with the increase in production.  marginal cost are the…

Q: The demand for pineapples takes the following form: Q=10-3p. What is the own-price elasticity of…

A: The relationship between the percentage change in a product's quantity demanded and the percentage…

Q: How does the textbook money creation model differ from the real world money creation model? What’s…

A: Money: Money is a commodity that is widely accepted as an economic exchange medium. It is the medium…

Q: Isabella and Antonio are auto mechanics. Isabella takes 4 hours to replace a clutch and 2 hours to…

A: According to the given information, it can be said that the quantity of each products replaced by…

Q: Is pink tax considered as a price discrimination?  Debate whether it is or not.

A: When the cost of providing the same commodity or service to different customers is the same, sellers…

Q: Suppose demand and supply are given by Qd = 50 - P and Qs = 0.5P - 10. a. What are the equilibrium…

A: The demand curve depicts the inverse relationship between price and quantity demanded, keeping…

Q: 2. A consumer is observed making two choices. First, he faces prices p = (1,3) with wealth w = 8 but…

A: According to the Revealed Preference Theory, a consumer's preferences may be deduced from the kinds…

Q: 4. Consider a community with 80 vacant parcels. The value of developed parcels can be represented by…

A: Profits: It refers to the excess amount of revenue. The change in the level of profit will increase…

Q: At point A, how many units of All Other Goods is the person buying? All Other Goods A C Budget Line…

A: The budget line is a graphical representation of all possible combinations of two commodities that…

Q: Solve for the present value of annuity due for an investor to receive Php 18,000 bi-monthly for 7…

A: The future value o Present value (PV) will be calculated as the present or current value of a sum…

Q: 4. xX2 Ix X1 Given this indifference curve, if the item corresponding to the horizontal axis is a…

A: The indifference curve refers to the curve on a graph (the axes of which shows quantities of 2…

Q: Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can…

A: Given    Loaves of bread per hour Muffins per hour Martha 10 40 Julia 12 60 Number of…

Q: The graph below shows the market for oats. Price per bushel 12 11 10 9 8 7 6 4 3 2 1 0 10 30 20 40…

A: Sales of goods and services collectively make up total revenue. The total number of goods and…

Q: The domestic demand for wheat is C e export demand is QDE=500-2 Draw the domestic, export, and aggr

A: The total demand is calculated by adding the individual demand curves horizontally. Here, the demand…

Q: The market for gasoline i. Scenario 1: Electric cars have increased in popularity.  ii. Scenario 2:…

A: A demand curve can shift so that more or less of the commodity would be demanded at any commodity…

Q: What is a factory building an example of? * O technology Ohuman capital physical capital an economic…

A: The opportunity cost is time spent analyzing and that money to spend on something other. A farmer…

Q: Q5-) A regional infrastructure building and maintenance contractor must decide to buy a new compact…

A: In economics, inflation is a general increase in the prices of goods and services in an economy.…

Q: “The Bank of Zambia’s Monetary Policy Committee has kept the monetary policy rate unchanged for over…

A: The Bank of Zambia implements monetary policy in order to control the economy.

Q: 1. What should be the role of government in regulating financial institutions?

A: In the financial market, financial institutions are the players that act as the both the supplier as…

Q: Machines that have the following costs are under consideration for a new manufacturing process.…

A:

Q: A restaurant hires cooks and walters. Cooks earn $10 an hour, walters earn $5 an hour. The manager,…

A: Cook Earns = 10 Waiter Earns = 5 Fixed Payroll = 45

Q: Consider the macroeconomic model shown below: C = 500+ 0.80Y I = 1,500 G = 1,000 NX = - 100 Y=C+I+G…

A: Macroeconomic model is the model of economics with the larger scale of economic factors , or…

Q: Output Variable Total AFC AVC ATC Marginal Price Cost Cost 300 350 410 500 630 1 2 ی | ساداس 3 4 5 6…

A: Output Variable Cost Total Cost AFC AVC ATC MC Price TR MR 1 100 300         180     2 150 350…

Q: Production. Assume a production with two variable inputs (L, K). Show graphically the following and…

A: The link between the quantities of productive factors (such as labor and capital) employed and the…

Q: Mr. Rahim is planning to pursue MBA studies. Initial inquiry shows that he will have to pay RM…

A: Given  Tuition fee for MBA programme = RM 25,000 Cost on books =RM 1000 Transport cost =RM 1000…

Q: 9. Consider an economy with the following aggregate production function F(K, L) = AKL, where A = Ag…

A: Introduction Production function of a firm is a functional relationship between inputs used and…

Q: A consumer has preferences over 3 goods represented by the utility function u(x₁, x2, x3) =…

A: u(x1,x2,x3) = (x1x2 )0.5- 2-x3    Good 1 and 2 are perfectly divisible and Good 3 are invisible and…

Q: Assume the production function for your pizzeria is below, with wages being $15 per hour and rental…

A: The production function shows the relationship between the output and inputs. In the short run, at…

Q: What is the function of an economic system * to coordinate production and distribution of goods and…

A: The many laws and ordinances that make up the economy are referred to as the economic system.…

Q: 1. Describe two cases of imperfect competition in which regulation is desirable? a) why is market…

A: Imperfect competition exists when a market, whether it be hypothetical or real, deviates from the…

Q: QUESTION 6 A price ceiling below the equilibrium price will O Create a surplus. Not affect the…

A: A price ceiling is an upper limit on the price. It is a type of price control.

Q: Find the present worth in year 0 for the cash flows shown. Let /= 13% per year. 0 50 3 4 5 70 90 110…

A:

Q: A consumer has preferences over 3 goods represented by the utility function u(x₁, x2, x3) =…

A: u(x1,x2,x3) = (x1x2 )0.5- 2-x3    Good 1 and 2 are perfectly divisible and Good 3 are invisible and…

Q: A consumer has utility u(x₁, x₂) = x₁ + x1x2. Suppose that, because of a shortage of good 1, the…

A: Utility function  : u(x1 , x2 ) = x1 + x1x2  Price of good 1 : P1  , Price of good 2 : P2  Income =…

Q: Discuss data analysis in qualitative research detailing how a researcher prepares qualitative data…

A: A person who participates in research, which may be described as an ordered and systematic…

Q: a) What is Okun's law? Suppose the unemployment rate is 5% and actual output is 1% below potential…

A: Okun's law: For every 1% of unemployment above the natural rate, a negative GDP gap is about 2%…

Q: In recent months inflation has increased sharply in Australia and many parts of the world. Ongoing…

A: In economy price and output or employment is determined by the model of AD and AS.  the interaction…

Q: A monopolist is producing at a quantity of 13,678 units where the marginal revenue of the last unit…

A: Here, it is given that a monopolist is able to sell 13,678 units with MR from last unit as $2,386…

Q: QUESTION 22 Price if no tax- P If we introduce a tax in this example, who will pay a lower share of…

A: Tax burden fall more on consumers if the demand curve in inelastic.  And The tax burden falls more…

Q: Read the following extract and answer the questions that follow: Big fuel price hikes announced for…

A: Demand is the quantity demanded any product at given prices. D=f(p) Supply is the quantity supplied…

Q: What is the function of an economic system * to coordinate production and distribution of goods and…

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

Q: A sum of P5,000 is invested now and left for eight years, at which time the principal is withdrawn.…

A: Introduction: It is given that P5000 was invested for the period of 8 years and in the 8th year, the…

Q: What will happen to the equilibrium price and quantity in a market, if more buyers enter the market…

A: The demand and supply of a commodity depends on a lot of factors other than its own price. When the…

Q: Construct Graphs of Demand Curves that exhibit: A) Inelastic Demand; and B) Elastic Demand: Explain…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: Consider a game where a potential market Entrant is trying to decide whether or not to enter the…

A: We have 2*3 matrix game wher entrant has two actions and incumbnet has 3 actions in simultaneous…