What happens to equilibrium price and quantity when there is an increase in technology? Why?

Q: 5. This is the sequel to a question on the previous P-set that used this aggregate production functi...

A: Given production function  Y=A×K×L             For A=2 and K=3 Y(L)=23×L                ... (1) For ...

Q: Compute the slope of the demand curve. The potential answers are: A: -12.89 B: -10.5 C: -11.33 D: -1...

A: volume   price $   Total cost 10   1434   22841 30   991   26408 35   917   23781 45   1020 ...

Q: Sally is trying to decide what flavor of cake to make for an upcoming party.  She polls some of her ...

A: Approval Method of making a choice is the one in which participants are provided with the choices an...

Q: 2. As an economic and accounting analyst, which of the two should a government pay more attention fo...

A: Economic growth is basically described as the boom or improvement inside the inflation-adjusted mark...

Q: Define economies of scale. How do they apply to the major carriers? W hen can economies of scale tur...

A: Definition: Increased output leads to lower long-run average costs, resulting in economies of scale....

Q: The table below contains the price indexes for the macroeconomy for several years.     Price Index...

A: Here, the given table shows the price index in five consecutive years from 2010 to 2014.

Q: Suppose the Following information was published by Australia Bureau of Statistics in 2017: Item A...

A:   Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation u...

Q: Consider an economy in which all taxes are autonomous and the following values of autonomous consump...

A: Since you have posted multiple subparts, as per the guidelines we can solve only the first 3 subpart...

Q: Explain why price moves towards equilibrium in a free market and why the equilibrium price may chang...

A: The free economy is the economy where no restrictions are imposed on the production activities and m...

Q: Assume that the total hours of work in Mexico are 200 in the year 2019 and the productivity is $8 pe...

A: Given  Total hours of work in 2019 =200 Productivity =$8 Per hour worked. Total hours of work in 202...

Q: It is defined to be the capacity of a commodity to satisffy human wants. Discount Luxury Necessity U...

A: Answer: Utility: utility refers to the want satisfying power of a commodity. In other words, every c...

Q: A čompany is planning to install wind power plant for running its factory located in the middle east...

A: PRESENT WORTH ANALYSIS IT IS THE PRESENT VALUE OF ALL THE CASHFLOW PERTAINING TO THE PROJECT. OR IT ...

Q: 1. Give three reasons why GDP is the most widely used measurement in determining economic growth and...

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

Q: A business has found that it can sell 740 items if it sets its price to $62.23. However, if it lower...

A: Given  Demand function in part a  p(x)=188.03-22.1130x       ... (1) Cost function: C(x)=6.23x+3250 ...

Q: a.   Assume that the market value of your condo has now risen to $240,000.  Ignoring    interest...

A: * SOLUTION :-  (2)   As per guidelines I answered first three sub parts like a,b,c. 

Q: Next question Price (dollars per bucket) The figure shows the market for buckets of golf balls at th...

A: Leisure time Tax on supplier will increase the cost of production which leads to reduce the supply a...

Q: What are the “Country Factors” critical to attracting FDI to a host country

A: A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a busin...

Q: In an effort to encourage economic growth, the United States government has cut corporate income tax...

A: The government uses the fiscal policy to spur up economic growth. The expenditure and taxes are part...

Q: Explain how real GDP is determined when the price level is fixed.

A: The measure that depicts the value of goods and services being produced in an economy during a given...

Q: 30. In land markets, the following characteristic is true:     Changes in demand have an outsized ...

A: The land markets consists of adequate institutional checks. The land markets provide the the ownersh...

Q: Florida State University has just lowered the price of its season football tickets from $350 to $300...

A: Mid point elasticity: It measures the average elasticity over the part of demand curve or supply cur...

Q: Assuming that the economy shown in the figure below is in equilibrium, calculate the recessionary or...

A: In the above diagram, the potential GDP is achieved when the AD curve intersects the AS curve. In th...

Q: A firm lowers the price it charges. The firm's total revenue decreases. What can we conclude about t...

A: please find the answer below.

Q: Consider an economy that is characterized by the following equations: C = 150 + 0.65(Y – T) – 200r T...

A: Aggregate demand measures the overall amount of demand for all finished product and services created...

Q: What is the profit-maximizing quantity and price. How much economic profit does the monopolist earn?...

A: In economics, profit maximization is the short run or long run process by which a firm may determine...

Q: Which of the following situations would lead to actual inflation of 3%? O A. future inflation is 1%;...

A: Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate ...

Q: Which of the following importation is not subject to consumption tax? *   Importation of ornamenta...

A: When talking about consumption tax, it is the tax that is imposed on the use of final goods and serv...

Q: The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 2 $80...

A: PRODUCTION cost is the incurred monetary value to produce the goods on factor of production . It is ...

Q: Explain why Japan exports automobiles, while the U.S. exports aircraft? Use the prior definitions of...

A: A country exports a good in which it has a comparative advantage.  Comparative advantage occurs when...

Q: 1. Use the information below to answer question 1: %AM = 5 %AV = 1 %AY = 3 i= 4 %AP' = 6 NX = -100 C...

A: ​1) According to the Quantity Theory of Money (QTM): M*V=P*Y where: M=Money Supply V=Velocity of cir...

Q: Consider the following Economy: Price of Apples Quantity apples Price oranges Quantity Oranges Time ...

A: The nominal GDP in time period 1 is computed as:(Price of apples in time period 1× Quantity of apple...

Q: When government removes an import tariff, the effect on domestic producers is Select the correct ans...

A: Tariff refers to the tax that is imposed on imports. It redistributes income from consumers to produ...

Q: ountry of Economica's GDP deflator and nominal GDP in three different years are shown in the table. ...

A: Here we have to find real GDP .

Q: List some arguments for and against the likelihood of “convergence”. What sorts of policies can gov...

A: An interaction wherein economies of various nations become more like one another: Economic combinati...

Q: What would be the annual worth on this investment?

A: Given intial cost = 100000 $ Annual savings = 60000 $ Salvage value = 20000$ Annual expense = 10000 ...

Q: Smith, Jones, and Brown were creditors of White, who operated a grain elevator known as White’s Elev...

A: This is the form of business entity which is formed by an agreement, owned and managed mutually by t...

Q: Economics - Game Theory & Business Strategy  Inverse Market Demand for tires is P = 200 - .01Q  We...

A: The extensive form of the game is, 1.Manufacturer sets Price X by solving: maxQ(100-0.01Q)Q-10Q 2. R...

Q: Why do workers (skilled and unskilled) migrate from labour abundant countries to countries with a sc...

A: “Since its is a multiple question, we will solve the first question for you. If you want any specifi...

Q: Supply and Demand: End of Chapter Problem a. When the price of olive oil goes up, what probably happ...

A: (a) Olive oil and corn oil are substitute goods.  An increase in the price of olive oil will make it...

Q: O A. Everyone has unsatisfied wants.

A: There are various definitions of Economics. The early economists called Economics 'the science of we...

Q: Why do you oppose the taxation of purchasing NFTs? Infoslide: An NFT, which stands for non-fungible...

A: A digital asset that depicts real-world elements like as art, music, in-game items, and films is kno...

Q: QUESTION 10 (continued) Based on the numbers in the previous problem economists have calculated that...

A: The growth in the GDP will depend on the contribution of capital towards the GDP growth.  The positi...

Q: Define own price elasticity on-demand with an example b. define cross-price elasticity on-demand wi...

A: Price elasticity of demand is the price the degree of responsiveness or sensitivity of demand with r...

Q: Which of the following is a benefit of reshoring? O Can result in higher inventory O Can result in h...

A: A result in the higher inventory Reshoring is defined as the primary advantage and enabling it as th...

Q: Pls help with below homework. Why do social workers care about stringency of eligability?   What sor...

A: The term "social welfare" refers to society's overall well-being. Welfare economics is the study of ...

Q: Impact of an exogenous increase in world ings a. sav- b. Impact of increased business uncertainty

A: S-I shows market for savings and investment. Equilibrium in this market occurs where savings is equa...

Q: What is unemployment, it's types, and and socio-economic impact of unemployment? What are different ...

A: Socio-economic impacts include the impacts that a situation does on the social environment and econo...

Q: Explain the term Relative advantage?

A: When talking about the term relative advantage, it is an economy term that is to explain the competi...

Q: The following are two hypothetical ways in which the Federal Reserve Board might be appointed. Would...

A: The Federal Reserve System's main governing body is the Board of Governors of the Federal Reserve Sy...

Q: To spur economic growth, underdeveloped countries should: trade with foreigners. O do all of these. ...

A: Economic growth refers to increase in real GDP in the economy, that is increase in economic activiti...