Q: Economics Question
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Q: Explain the link between scarcity and the need for a rationing device
A: Meaning of Scarcity of Resources: The wants that can be satisfied by consuming goods and services ...
Q: Consider a consumer with the following utility function for consumption and leisure: U(R, C) = 160 I...
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three su...
Q: If the demand functions are determined as follows : (In the picture) Find : its market equilibrium...
A: Quantity demand and quantity supply is dependent variable and price is the independent variable. Dem...
Q: Q.1.2 An appreciation of the rand against the dollar: choose the correct answer(a) Will worsen the c...
A: Rand is an official currency of country SA. The appreciation of it against dollar will worsen the cu...
Q: What are the incentives for firms in an oligopoly to collude or work together? Has price collusion h...
A: Oligopoly: There are only a few but large producers/firms, who have catered to a huge group of custo...
Q: Calculate Economic profit and Accounting profit from the figures given below for ABC Company. Total...
A: Answer: Introduction: Accounting profit: Accounting profit refers to the difference between total r...
Q: If rent control creates deadweight loss for bothconsumers and suppliers of housing, why are consumer...
A: A loss of dead weight is an expense to economy obtained by market mismanagement that arises if marke...
Q: Since 2019, the price of lithium in China has been falling (and it is predicted to continue falling ...
A: The law of demand refers to the inverse relationship between price and quantity demanded (other fact...
Q: Use willingness to pay and willingness to sell to determine supply anddemand at a given price
A: Demand refers the total amount of goods and services that are willing to buy at the particular price...
Q: Explain it correctly
A: Given, IS equation: Y= 750-s-1000i+5e(Pf/P) LM equation: i = 0.5(1+s)+0.001Y-0.005M/P Also, Pf = 1,...
Q: What types of investments and expenditures are typically considered in the capital budgeting process...
A: Capital budgeting refers to the process that estimates the expenditure and benefits that derived fro...
Q: According to Figure 15.4, by what percentage did GDP per capita increase between 1820 and 1995 in N...
A: Percentage increase in GDP between the period of 1820 and 1995 can be calculated as follows: % incre...
Q: Hey there, I'm looking for the answers to these questions. The first question have 6 parts, and the ...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: Bill is a professional photographer. His camera is broken, and he needs a new one within the next ho...
A: Willingness to pay (WTP) shows the maximum price that the buyer or consumer is ready to pay to get a...
Q: Suppose the revenue (in dollars) from the sale of x units of a product is given by R(x) = 56x2 ...
A: R(x) = (56x2 +65x)/(2x+2)
Q: Chemists at risk as prices are slashed: Big price cuts on a wide range of medicines and vitamins wer...
A: a. The kind of market structure which is involved for the medicines and vitamin sale is monopolistic...
Q: If you were a real estate agent, how would you determine whether it’s worth investing a significant ...
A: Real estate agents are those individuals or persons who deal in the business of renting or selling l...
Q: A consulting engineering firm wants to make a preliminary cost estimate for the design/construct of ...
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Q: Select one or two examples of an industry characterized by monopoly and discuss how each example con...
A: A monopoly is a market structure characterized by the existence of a single firm as the producing ag...
Q: ESSAY. Write your answer in the space provided or on a separate sheet of paper. Table 3-3 Price...
A: The equilibrium quantity of corn is where the quantity demanded = quantity supplied. In the mentione...
Q: Chemists at risk as prices are slashed: Big price cuts on a wide range of medicines and vitamins wer...
A: a. Monopolistic market structure is involved for the sale of medicines and vitamins in the above cas...
Q: What information should a buyer gather about a supplier before entering anegotiation?
A: Gathering information regarding supplier is very important for entering a negotiation or in a deal. ...
Q: Explain why P=MC in the short run equilibrium of the perfectly competitive firm, whereas in long run...
A: Economic efficiency includes the allocative (P = MC) and productive (MC = AC) efficiencies. Both the...
Q: Question 2 (a) Catherine buys and sells real estate. Two weeks ago, she paid $300,000 for a house on...
A: a) As there is a plan announced by the government to build a new landfill, and being already purchas...
Q: A firm’s profit equation is given by: Total Profit = -100 + 160Q – 20Q2 . Therefore, Select one: ...
A: If the firm would produce zero output, the profit earned would be: Total profit = -100 Hence, the fi...
Q: Q.1.2 An appreciation of the rand against the dollar: (2)(1) Will worsen the current account balance...
A: In the international trade market, demand and supply of any item are influenced by the exchange rate...
Q: Countries with high levels of debt-to-GDP ratios are poor countries and that countries with low leve...
A: A country with a high debt-to-GDP ratio shows the GDP of the nation is insufficient to pay back debt...
Q: If the demand functions are determined as follows : (In the picture) Find : B. Draw the graph
A: A demand function is a mathematical representation of the relationship between the quantity demanded...
Q: Solve this question early I upvote
A: Hi student, thanks for posting the question. As per the guideline, we are providing answer for the f...
Q: What is the difference between the income effect and the substitution effect of aprice increase for ...
A: Income effect shows the impact increase in the purchasing power on consumption, whereas substitution...
Q: Why is collusion or coordination (such as cartels) not prevalent in the United States and other deve...
A: The collusion or coordination in the market is illegal under the antitrust law in the united states ...
Q: Determine how the equilibrium price and equilibrium quantity in the market for coffee changes if th...
A: the price of tea, a substitute for coffee, decreases, The substitute goods are those good which can...
Q: give your own detailed explanation of liquidity preference theory and how the demand for money curve...
A: Meaning of Aggregate Demand Function: The aggregate demand function refers to the maximum expected...
Q: 1. A small company manufactures a certain product. Variable costs are $20 per unit and fixed costs a...
A: Given : Variable cost = $20 Fixed cost = $10,875 Demand curve; P = - 0.25D + 250
Q: Compare and contrast human capital, H, and physical capital, K. How is H different from labour, L?
A: Physical capital refers to a factor of production or input in the production process. A well-skilled...
Q: What posssible social advantages of price increases arise in the following cases? a. Charging higher...
A: ANSRaising the price of a good will make the good costlier and thus it will reduce the consumption o...
Q: 8. A new company starts making tennis rackets.
A: If a new company starts making tennis rackets it means that there will be an increase in the total s...
Q: Need help
A: A country has a comparative advantage in producing potatoes or tea if the opportunity cost (OC) of p...
Q: a Wednesday. The table below displays your only alternatives (that are mutually exclusive) and some ...
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Q: hello, I need help with my homework The Principle of Diminishing Returns Apply the principle of di...
A: The Law of diminishing return, also known as the Law of variable proportion, operates in the short r...
Q: For this hypothetical economy below (please note that all prices for 2012 have been normalized to 10...
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If y...
What are the advantages of buying a business rather than
starting one from scratch?
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