What are the advantages and disadvantages of division of labour?

Q: Use the following graph of the market for cases of beer to answer the questions that follow. (Note: ...

A: (A) The imposition of tax increases the cost of production and shift supply curve to the left.   Th...

Q: Interpret with five assumptions of the Ricardian Trade Model and illustrate it with an example how i...

A: The core concept is comparative advantage: it is unimportant for commerce if one nation is more prod...

Q: What is the amount of shortage or surplus in the corn market as result of the price floor? If the go...

A: A price floor exists when the price charged is greater than or less than the equilibrium price set b...

Q: The population in country C decreases, due to a lower birth rate. At the same time, there is an incr...

A: The question is based on the demand and supply side of the vegetable market. Price and quantity are ...

Q: Who currently favors Milton Friedman’s theories currently?

A: Answer -

Q: Consider a utility function of two goods x and y: U (x,y) = A (ax +by') where A >0, a>0, b>0, r € (-...

A: b) Slope of indifference curve= (-) MUx/MUy MUx= Ar(axr+byr)1r-1(arxr-1) MUy= dU/dY= Ar(axr+byr)1r-1...

Q: Suppose that the most popular car dealer in your area sells 12.50 percent of all vehicles. Instructi...

A: In a market, Herfindahl-Hirschman Index (HHI) is used as the measurement of market concentration to ...

Q: What about s the practical importance of economic law? Explain in 250 words

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Q: , the fund manager had a go stments earned $15m. Today. had a bad day: their investme s the fund man...

A: *Answer:    An investment is an asset which helps an individual to increase the net earnings in an a...

Q: Consider a policy that has benefits and costs that accrue in the following way: Year 0: Benefits = 0...

A: The Net Present Value (NPV) of the policy can be calculated by using the following formula. NPV=-C0+...

Q: Write down the merits of deductive method of economics? 300 words

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Q: Assume that the banking system has total reserves of $200 billion. Additionally, assume that the Fed...

A: Total reserve = $200 billion Required reserve = 25%  

Q: 2. Consider a competitive market where there are two types of firms, Type A and Type B, with total c...

A: TCA (q) =  2+4q+2q2 TCB (q) =  3+3q+3/2q2    

Q: Apples and oranges are substitutes. A freeze in Florida destroys most of orange crop. What would you...

A: Substitute goods: When two goods are available then an increment in the price of one good, will lead...

Q: 1.2 When Acme Dynamite produces 200 units of output, its variable cost is S3,000, and its fixed cost...

A: Variable costs change based on the amount of output produced. Variable costs may include labor, comm...

Q: Question 36 Single Cholce PlayOut is an online booking app for using city-wide playgrounds for vario...

A: Answer-  

Q: Please see image for question

A: Most, but not all, countries have various currencies. Ecuador, El Salvador, and Panama, for example,...

Q: Does this mean the degree of financial support deter-mines election outcomes?

A: The majority of funding comes from small donations, wealthy individuals, political action committees...

Q: a. Distinguish between legally required reserves and excess reserves.  b. Why don’t banks hold a 100...

A: The correct answer is given in the second step.  

Q: Suppose that a small town has seven burger shops whose respective shares of the local hamburger mark...

A: while calculating concentration ratio we consider the firms who have larger market percentage share ...

Q: Charlie Cai promises to deposit a sum of $120,000 for his granddaughter's college education 18 years...

A: Given data,  FV = 120000 PV = 30000 n = 18 year. 

Q: What is an Option?

A:  An Option is a kind of derivative whose value depends upon the underlying assets such as stocks, bo...

Q: A gambler plays roulette 2500 times, staking $1 on the number 10 each time. The bet pays 35 to 1, an...

A: Given that; A gambler plays roulette 2500 times, betting $1 each time on the number 10. The bet pays...

Q: Relative to a monopoly charging a single price to all consumers, perfect price discrimination produc...

A: Producer surplus is the difference between how much a person would be willing to accept for given qu...

Q: The market demand function for wheat is Qd= 1O - 2Pand the market supply function is QS = 4P-2, both...

A:

Q: Some years ago, a new brand of toothpaste was introduced in the United States. According to its adve...

A: The sum/addition of all the values in a set is divided by the total number of values in the set to g...

Q: 2. Compute the average and marginal product of labor? Amount of Total Average Product Marginal Produ...

A: Average product = Total output / Labor Marginal product = Change in total output / Change in labor

Q: Assume that the most efficient production technology available for making vitamin pills has the cost...

A: OUTPUT TC MC ATC 25,000 1,00,000 0.50   50,000 1,50,000 1   75,000 1,87,500 2.5   1,00,000 2...

Q: 19. What sequence of events results from a decrease in aggregate demand? * P1, inventories , firms r...

A: In an economy, aggregate demand refers to the overall demand for domestic output by the people, such...

Q: Now, imagine that two government employees proposed alternative plans for reducing pollution by 6 un...

A: Given: Number of firms=3 Pollution for each area=4 units

Q: In country Superland, its real GDP grows by 5% per year and its money stock grows by 12%, the veloci...

A: "According to the quantity theory of money, if velocity of money is constant then inflation rate is ...

Q: Problem 2 (2 points) Given the demand function P = - QD2 – 2QD + 64, and the supply  function P = QS...

A: Given:  P = - QD2 – 2QD + 64 P = QS2 – 2QS + 14.

Q: For demand function Qd = a - bP and supply function Qs = dP - c , using Cramer’s rule determine equi...

A: given that, demand function Qd = a - bP supply function Qs = dP - c 

Q: What are the merits of inductive method? Briefly discuss what are the shortcomings of this method in...

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Q: What were Milton Friedman economic theory’s general principles and who did he advise? Could you also...

A: Milton Friedman was a Nobel Peace Prize winner and an American economist. He created a number of eco...

Q: How much would be in your account in 10 years after depositing $2000 now? The annual interest rate i...

A: Answer -1  According to the question, we need to calculate future value.  Present value (PV) = $2000...

Q: Explain the inductive and detective methods of economics not more than 300 words. 100 to 150 words e...

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Q: The difference between nominal GDP and real GDP is:     real GDP adjusts for inflation   real GDP ...

A: Nominal GDP is calculated on the basis of the current price, while the Real GDP is calculated using ...

Q: 3. The effect of negative externalities on the optimal quantityof consumption Consider the market fo...

A: Answer: Given, External cost per unit = $385 per ton Now, Social cost = Private cost + External cost...

Q: 6. Using the costs in the table above (question #4), what quantity should the firm produce at the fo...

A: Answer -

Q: A company has planned to have a space with three options lease, buy, and loan. As the equivalent uni...

A: Introduction EUAC tells about equal uniform annual cost. At 0% interest rate: If you buy a space the...

Q: Assume that the Black-Scholes framework holds. Sam has arranged for a shipment of rare wine to be de...

A: Sam is concerned that the dollar may depreciate, causing him to be unable to afford the cost of the ...

Q: What is risk selection and discuss any 2 methods chat can be used to eliminate this.

A: Risk Selection  A related worry is risk selection, which occurs when insurers are incentivized to av...

Q: Show all the possible steps In Chandgani City, 200 families are selected. 120 families read The Trib...

A: Given information: There are 200 families.  Number of families read The Tribune = 120 Number of fami...

Q: What was Milton Friedman’s work?

A: When talking about economists, Milton Friedman was the popular economist who gave many economic theo...

Q: A) The town of Dimmsdale is a popular tourist destination. The problem is, the tourists are not alwa...

A: Market demand : Qd = 700 - 5p  => p = 140 - Q/5  Marginal Cost = 50  Optimal condition for number...

Q: 2. Consider the following utility function: u(x, y) = x² + y. (a) Derive the optimal utility maximiz...

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Q: Production, Costs, and Perfect Competition: Firm in the Short Period a. data (1) K = 7 and the price...

A: We have given that the firm is in short-run and capital is fixed at k=7, the Q Output Labor L 0...

Q: Consider the five investment alternatives described below. Which alternatives can be eliminated from...

A: Dear learner you have posted multiple questions, as per our policy we have solved only first questio...

Q: Consider the following payoff matrix. -1 P = 0 -1 (a) Find the optimal mixed row strategy. (b) Find ...

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