What happen if Demand of petrol is higher than Supply. Make answer in 1 paragraph

Q: In the given diagram, BDE represents the average variable cost and BCDF represents the marginal cost…

A: the average variable cost is the variable cost per unit. Average variable cost is determined by…

Q: In a market economy, one of the following answers would not affect labor supply. Which one? Group of…

A: Labor supply shows different quantities of labor supplied at different wage levels

Q: A city government decides to tax hotel rooms to raise money. Before the tax, 1000 rooms were…

A: Taxes are important because they allow governments to collect money and utilize it to fund social…

Q: 12 Inflationary expectations in the economy increase rapidly, evoking a much stronger response from…

A: A bond is a loan-like investment. Institutions and governments that need to borrow money generally…

Q: 10. State briefly the importance of economies of scale, comparative advantage, and trade barriers in…

A: Economies of scale are a crucial idea for any company, regardless of sector. It represents the…

Q: economist at the Ministry of Labour argues that the policy change will ultimately hurt consumers.…

A:

Q: The human wants for goods, services and resources exceed what is available, is known as

A: Economics study how the limited resources should be allocated to satisfy unlimited human wants in an…

Q: vedish multinational clothing-retail company known for its affordable omen, teenagers, and children…

A: *Answer:

Q: Let’s look at the market for sophisticated laptop computers. When income increases, the demand for…

A: At a marketplace, a good is an inferior good is its demand has inverse relationship with the income…

Q: What happens to the equilibrium price when there is an increase in demand and a decrease in supply…

A: The equilibrium price is the most effective rate in which the plans of purchasers and the plans of…

Q: Economists refer to the conflict between the interests of shareholders and the interests of top…

A: Different parties have different interests in a particular organization.

Q: Jaime has preferences over GOOD (A) and GOOD (B), with $60 to spend on the two goods. The market…

A: Answer -

Q: Suppose a closed economy has an aggregate consumption function given by C = 50 + 0.50Yd and…

A: Ans. The equilibrium level of income and output level is where AS = AD           where AD stands for…

Q: Questions 1.4 and 1.5 refer to a consumer with preferences over food (x) and clothing (y)…

A: Inflation means the rise in the price level of goods and services over a period of time. The rise in…

Q: 1. Fill in the table Number of Workers 1 23 4 5 6 7 8 9 10 Total, Average, and Marginal Product of a…

A: Average product is the per unit product of workers and marginal product is the additional output…

Q: 2000 TABLE 3 a) Refer to Table 3. Suppose this firm is producing 1250 mousetraps and its average…

A: Profit is calculated with the help of Total revenue and total cost. Profit/Loss = TR -TC

Q: and buries the cash in his backyard. By how much will the bank have to reduce its loans? Calculate…

A: here we calculate the maximum amount of money supply may contract as follow:-

Q: Firm 1 and firm 2 compete with each other by choosing quantities. The market demand is given by if…

A: Here demand function=P=400-Q=400-q1-q2 cost function of firm1=TC1=40q1 cost function of…

Q: a perfectly competitive market over the long run, a. an increase in market demand or a decrease in…

A: Perfect competition market  Perfect competition is a form of market where there is a large number of…

Q: Is the following statement True or False? "Employer Taste Discrimination models of wage inequality…

A: When talking about Employer taste discrimination model, it is the strategy of a firm to hire labor…

Q: Q2: Continuing from Question 1: What will be the shape of the Phillips Curve because of the policy…

A: The Phillips curve shows that there is an inverse relationship between the inflation rate and the…

Q: Based on the data provided here, calculate the items requested:   Annual depreciation $ 2,500…

A: Following is the given informations: Annual mileage = 13800 Gasoline price = $4 per gallon Parking…

Q: 7. Which of the following is one of the Federal Reserve's two policy mandates? a) Increasing GDP b)…

A: In the United States, the Federal Reserve is the highest monetary authority with some responsibility…

Q: Discuss the pursuit of the Free trade and liberalization policy, citing its advantages and how it…

A: Free Trade: It can be defined as doing trade without any restrictions that are without the…

Q: 5. The CES function f defined for K > 0, L > 0, by f(K, L) = A(6K-P+ (1-6) L-P) - 7, where A> 0, p =…

A: Given production function A(δK-ρ+(1-δ)L-ρ)-1ρ Here K--- capital unitL--- Labor unit

Q: The consumer price index (CPI) rose from 105.9 to 113.4, while Helen's net salary decreased 7.0 %.…

A: Here, given information is, Initial CPI (base year): 105.9 Final CPI (current year): 113.4 Change…

Q: A company produces a special new type of TV. The company has fixed costs of $478,000, and it costs…

A: Total cost is the sum of fixed cost and variable cost. TC = 478000 + 1200Q

Q: 5) Use the table below to answer the following questions. Table 2 Taco Stans Pizza Sellers Firm Name…

A: The measure that depicts the way in which classification and differentiation of industries are done…

Q: A rich man put up a trust fund in the bank to give his son the earnings of P 400, 000 at the end of…

A: Trust Fund  A trust fund is a type of estate planning tool that creates a legal entity to hold…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: Finance charge is referred to as the cost for borrowing money, which includes interest along with…

Q: Provided that capital markets function efficiently, which of the following barriers to entry into an…

A: An efficient market is the market with no barriers to entry and provide freedom to buyers and seller…

Q: Suppose there is an increase in the demand of the imported commodity subject to a given import…

A: Here, it is given that the economy has import quota and the demand for the imported commodity has…

Q: How does the major ethical issues in the American prescription drug crisis affect business in…

A: In the American economy, the prescription drug crisis was the cause of shortages of output due to…

Q: a sala set cost ₱ 9,500.00. assume that the original selling price was ₱ 11,000.00. the selling…

A: Here, cost is given as ₱ 9,500.00, but the selling price changes in the market. To find the markup,…

Q: SHOW NEW GRAPH   Options listed   If the velocity of money is 3, the money supply in this…

A: The AD-AS model is an approach to outlining national income assurance and changes in the cost level.…

Q: Define the economic principle of opportunity cost.

A: When another item or activity is chosen, an opportunity cost is described as the amount of a…

Q: A heavy equipment was bought for P $ 30, 000 six years ago. It will have a salvage value of $ 3000…

A: * SOLUTION :-   As per guidelines I answered only one question  please repost other one…

Q: Discuss any three factors that determine Interest Rates?

A: Interest rate is the rate at which the money is traded . Money is like a normal goods an interest…

Q: A. Define marginal revenue and marginal cost.

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: QUESTION 6 If the income elasticity for the demand of gasoline is equal to 1 and the income…

A: A good is a normal good when its demand increases with increase in income.

Q: What about the data collection methods?

A: Data collection: It refers to the information assortment which is the most common way of…

Q: Using diagrams as appropriate, explain why the desire of households to smooth their consumption over…

A: Consumption smoothing is the process of maximizing our level of living by sustaining a positive…

Q: 3. Monopolistic competition in the short run Consider a shop that produces muffins in a…

A: Monopolistic rivalry happens when an industry has many firms offering items that are comparative yet…

Q: = Questions 1.6 and 1.7 refer to a consumer with preferences over lotteries represented by the…

A: We use the following formula to calculate the expected utility: Expected Utility (EU) = pa(U(xa)) +…

Q: Which of the following is NOT a characteristic of business to business markets? O a. Compared to…

A: Business is an organization or group of firms or people where they work together to produce goods or…

Q: A businessman needs P50,000 for his operations. One financial institution is willing to lend him the…

A: The offer in which the businessman will have to give the lowest interest rate is the best offer for…

Q: You have a bond trading today at 100. It pays semi annual interest to you on 31 December and 30…

A: Bonds  Bonds refer to the marketable securities which are traded by the central bank of the country…

Q: equipment that cost Php. 7,000 has an economic life of n years and a salvage value of Php. 350 at…

A: Given information: Cost of equipment = Php 7000 Economic life = n years Salvage value = 350  Book…

Q: In Oxnard’s market for textbooks, if the price of textbooks goes up by 25% and the quantity demanded…

A: Given information, Percentage change in price: 25% Percentage change in quantity demanded: 75% To…

Q: The figure below shows the flow of goods, services, and payments between Kenya (home country) and…

A: 1) The top section keeps track of the flow of exports and imports, as well as the payments…