What does the price elasticity of demand coefficient of 1.2 mean? Does the product have an elastic, unitary elastic, or inelastic demand?

Q: Describe two competitive companies with similar gross profit figures that ended up with dramatically…

A: After all direct costs are covered, all that is left is the company's gross profit. After all,…

Q: You are now required to compute the consumer price index (CPI) and the inflation in one village.…

A: "Consumer price index represented as CPI depicts the overall deviation in prices over time with…

Q: At Emily's bagel shop, the cost to make a homemade bagel is $3 per bagel. As a result of selling…

A: Producer surplus is the distinction between how much an individual might want to acknowledge for…

Q: Great Gorge Amusement Park is a 40-acre fun park full of rides, shows, and shops. Great George'…

A: Locals Tourist Demand function PL= = $40 - $0.0008QL MRL= $40 - $0.0016QL Marginal Revenue…

Q: We are at time t. Assume that the growth rate of the economy is 1% (g = 0.01) and that the real…

A: A debt ratio calculates a company's leverage by comparing its total debt to its total assets.Since…

Q: ify the following statement as true or false. Justify the answer. The justification is more…

A: Utility function shows the functional relationship between the consumption goods and utility.

Q: Which of the following statements is a challenge to the use of natural gas? a. Fracking has decrease…

A: Natural gas, coal, nuclear are different sources of energy.

Q: You are now required to compute the consumer price index (CPI) and the inflation in one  village. To…

A: Given : Products  Quantity Rice 3kg Meat 1.5kg Vegetable 3kg

Q: A person who is lending money o S or B A person receiving a fixed income S or B A person with money…

A: High inflation makes some people worse off and some people better off.

Q: Question 1 In the US economy, the money supply is controlled by the US Treasury O O Federal Reserve…

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

Q: How did you get the formula for letter B?

A: Profit : total revenue -total cost. Total Revenue = P*Q. Profit function is differentiated with…

Q: Business cycles are     a short run phenomenon     a long run phenomenon     predictable…

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

Q: Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units and…

A: Given  At Price Php 12, quantity demanded =6 and quantity supplied is 3 At the price $20, the…

Q: For a consumer with a demand function q = 10 - 2pz, find the answers to the following. Consumer…

A: "Demand function is a function which depicts a negative relationship between price of a commodity…

Q: A profit maximizing firm with short run total cost given by: TC = 5q² + 100q + 250 is currently…

A: Total cost is composed of fixed cost and variable cost. Variable cost depends on output and fixed…

Q: 2 Suppose a firm's production function is f(x₁x₂) = x1/4x2/4, the price for output is p; and the…

A: In this question:- Production function is fx1,x2=q=x114x214 Here the price of the output is p the…

Q: When income rises by 10%, the demand for Good A falls by 3%. From the above, we know Good A is O a…

A: Income is referred as a non price determinant that affect the demand for the good.

Q: If orange juice is considered a normal good, then an increase in income in Ventura will have the…

A: Demand curve shows an inverse relationship between price and quantity demanded. It slopes does…

Q: INSTRUCTION: Give one example of a technopreneur, describe his/her business, and then explain what…

A: According to their areas of interest, different sorts of entrepreneurs operate their firms in…

Q: 1. Other things equal, what is the likely impact of a U.S. trade deficit on 1. the current account?…

A: An import/export deficit is a sum by which the expense of a nation's imports surpasses its…

Q: QUESTION (1) Consider the following game tree of a two-stage dynamic game. Write the players'…

A: Above game has two players - Player 1  & 2  Strategy Set of Player 1 : {A , L , R }   &…

Q: Fill in the blank with the corresponding options. Be sure to type them exactly as they are written…

A: In a free market, equilibrim price and quantity is determined by the forces of the demand and supply…

Q: A city is spending $19.3 million on a new sewage system. The expected life of the system is 40…

A: A cost or expenditure is capitalized when it is recorded on the balance sheet with the intention of…

Q: Consider a firm with production function: Q(L,K) = 400+ 12.3L - 0.8L²+ 10.1K -0.3K²+0.2LK, Where a…

A: In this question we have:- Production functionQL,K=400+12.3L-0.8L2+10.1K-0.3K2+0.2LK The price of…

Q: We often use the SRAS/AD model to describe which of the following?     short run economic…

A: SRAS/AD model comprises of a downward slanting aggregate demand curve "AD" and an upward inclining…

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: ) Consider a country in which three goods (A, B, and C) are produced. The following table shows…

A: Given  Base year = year 1 We have to calculate the GDP deflator between year 1 and year 2 From the…

Q: Online the timing and tailoring of prices to specific models of products is the key to successful…

A: Since there are multiple questions, I am providing the answer to the first question. Price…

Q: A coffee maker set is offered for sale for P 15 000 down payment and P 1 500 every 3 months for the…

A: Down payment = P15000 Reoccurring payment = P1500  Time period = every 3 months for 15 months…

Q: The Mamas and the Papas, a monopolist, faces a constant marginal cost of $3 of producing cashews. If…

A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in…

Q: What happens to the output and price level if aggregate demand and aggregate supply curves shift in…

A: The aggregate demand and aggregate supply curve is a model that shows what decides total supply or…

Q: Which of the following statements is/are not true (I) The area below actual price and above demand…

A: The difference between what a customer is prepared to pay and what they actually spent for a product…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: Given information: Ike Bikes is a manufacturer of bikes, currently producing bikes in its only one…

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: The graph shows the start of a timeline that tracks the price level over time. At time A, new money…

A: Expansionary monetary policy or the increase in money supply in the economy by central banks is used…

Q: Exhibit: Rental Price of Capital Real rental price, R/P R/P R₂/P R/P R4/P Rs/P A a. R₁/P. O b. R₂/P.…

A: "Capital market equilibrium is depicted at a point where demand for capital stock equates the supply…

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: To ensure that utilities receive a normal rate-of-return, regulators set price equal to: a.…

A: Utilities are provided by monopolists due to capital intensive infrastructure. The monopolies…

Q: 1. The economies of Canada and Mexico produce only fruit and timber. Each country has a labor force…

A: A country has a comparative advantage in the good which it can produce at lower opportunity cost.

Q: The total depreciation of an equipment after its 16 years of useful life is P448,475. Using the…

A: Given  The total depreciation of equipment after 16 years  is P448,475 Useful one of equipment =16…

Q: Which of the following might increase the government budget deficit?     contractionary fiscal…

A: Government can have balanced budget, budget deficit or budget surplus. Government imposes tax to…

Q: ០៣៩៣៩៥៩អ៊ីវត83ទវគ៖ 90 85 80 75 65 60 55 50 45 40 35 30 25 20 15 10 0 5 10 15 20 25 30 35 40 45 50 55…

A: The consumer reservation price refers the maximum price a consumer is ready to pay for commodity.

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: The following table contains data from ERED" on the consumer price index and the nominal average…

A: Nominal wage describes wage in monetary terms whereas real wage describes wage in terms of goods…

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…

Q: Potatoes are farmed using labor and machinery (farm equipment). They're often eaten with butter or…

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

Q: The quantity demanded of Fitbit devices is 8,025 units when the price is $260. At a unit price of…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: A city is spending $19.3 million on a new sewage system. The expected life of the system is 40…

A: The present evaluation of an asset, most commonly real estate, is known as its capitalized value.…

Q: 2. After reading Coase's "The Problem of Social Cost," define social cost in your own words. Provide…

A: Externality is the spillover effect of the economic activities of one person which have impact on…

Q: "You sell your car to a friend for $2,000 so you can buy a new car. Is this sale value included in…

A: GDP is the Gross Domestic Product of the economy. It is the final value of goods and services…