What happens to the domestic market when the government allows the importation of more units of rice but with a tariff.

Q: A high value of a currency would result in which of the following? Select one: a. Greater…

A: a. This option is incorrect because, due to the high value of a currency, the export will be more…

Q: 4.2 The South African Reserve Bank (SARB) seeks to maintain liquidity in the money market using a…

A: The national currency's legitimacy and purchasing power are both protected by price stability. When…

Q: What are the disadvantages of using loans to financial institutions to prevent bank panics?

A: We are well known that A bank panic is a situation when there are rumors of the bank being closed…

Q: Which of these gives the highest effective rate of interest? - 16.35% compounded twice every month…

A:

Q: Horizontal equity in a taxation system is the idea that Select one: a.those who earn more should pay…

A: "Since you have asked multiple question,we will solve first question for you.If you want specific…

Q: Ques 2. The domestic demand for wheat is 2DD=1000-25P, and the export demand is 2DE = 500-25P. Draw…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: A grove of mango trees is expected to yield P15,000 a year for 25 years after the tree come into…

A: Given  The annual expected yield from mango trees is P15000 and this yield continues up to 25 years…

Q: In the following table, which contains the demand schedule for a monopolist, enter the total revenue…

A: Introduction Total revenue can be considered as the total earnings incurred by a firm after the sale…

Q: A restaurant hires cooks and walters. Cooks earn $10 an hour, walters earn $5 an hour. The manager,…

A: Cook Earns = 10 Waiter Earns = 5 Fixed Payroll = 45

Q: The domestic demand for wheat is C e export demand is QDE=500-2 Draw the domestic, export, and aggr

A: The total demand is calculated by adding the individual demand curves horizontally. Here, the demand…

Q: Market: Toilet Paper Toilet paper production plants are shut down due to covid 19 outbreaks.…

A: The equilibrium price and quantity of any good depend on both supply and demand determinants.  In…

Q: A consumer has utility function u(T₁, 12) = (11 — C₁) (12 - 0₂) where c₁ and ₂ are positive…

A: Introduction One of the assumptions that aids customers in decision-making are "Completeness and…

Q: How did you get 5.49 for AVC?

A: Introduction Total cost includes all implicit and explicit cost that comes during production. Total…

Q: Arnie has $20 per week to spend on any combination of pineapples and green tea. The price of a…

A: Marginal utility is the enjoyment a consumer gets from each extra unit of consumption. It computes…

Q: Repeat Question 1 with the utility function u(x₁, x₂) = x₁x2. (a) Determine the (Walrasian) demand…

A: u(x1,x2) = x1x2

Q: Production Function for a Furniture Company The manager of Dixie Furniture Company estimates that…

A: Marginal Rate of Technical Substitution: The marginal rate of technical substitution is an economic…

Q: Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player…

A: Scarcity means that the resources available are less than the resources required. Resources here can…

Q: A numerical restriction on amount of a good imported is called a Group of answer choices quota.…

A: International trade barriers:- Tariffs, quotas, and nontariff barriers are the most frequently…

Q: Fill in the following cost table where cells have been left blank. In other words, use "Units of…

A: Profit is maximum where P = MC or MR = MC  Profit = Total revenue - Total cost.

Q: 2) The owner of a restaurant that you are thinking of purchasing, tells you for x customers per week…

A: Cost : C(x)=15000+2x Revenue : R(x)=500x-3x2   a) Profit P(x) = Revenue R(x)-Cost C(x)…

Q: Given that the market price of a product A is $8, there are 20 consumers who are each willing to pay…

A: The consumer surplus is the difference between the maximum willingness to pay for good and actual…

Q: As the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 to 114…

A: To determine how much demand for one commodity will change in response to a change in the price of…

Q: Question 7. Assume that a monopolist sells a product with the cost function where C is the total…

A: The monopoly firm is only firm in the market. It maximizes the profit where the MR = MC.

Q: what will be a good example a person participated in goods, labor, and financial markets.

A: Goods market is the one in which the goods and services are sold by the firms to the households.…

Q: d) Instead of a price control, the government levies a tax on produces of $20. As a result, the new…

A: Since you have specifically asked for the solution of part D, we are provided the answer for that…

Q: The following income distribution data are for Lesotho: Quintile Percent Share Lowest 10% 2.2%…

A: Given information National income 1.69 Population Income Share Lowest 10% 2.20% Lowest 20%…

Q: 3. The tuition at the University rose at an average annual rate of 7.5% from 1974-2022. If the cost…

A: To determine the four years cost at university compute the present worth of first cost; and…

Q: What is income inequality in economics. Define it with the help of example.

A: Income inequality basically refers to the uneven distribution of income among a population. The more…

Q: For the last question, can you explain why the answer states grain and not cars? was this an error?

A: Introduction: Opportunity cost refers to the second-best alternative that has been forgone. This…

Q: 15. All else equal, a decrease in reserve requirements will cause a.state and local government…

A: All else equal, a decrease in reserve requirements will cause.

Q: Consider the insurance problem from class in which an agent with wealth w dollars has a chance ≈ €…

A: Given information Initial wealth=W Chances of loss  lies between 0 to 1 Loss amount=l Insurance…

Q: Contrary to what neoclassical economics has argued, many development economists believe that…

A: The supply and demand model is recognized to be the primary driver of economic activity including…

Q: What is ppc? (bRIEFLY)

A: The PPF can be used by businesses to determine which products to produce or to understand how…

Q: Represent the supply of housing on a graph under two scenarios. First - an 'anything goe scenario in…

A: The equilibrium is the established where the demand and supply are equal. The change in the demand…

Q: The improvement in output per worker due to adopting new technology could be shown as (Select one…

A: We have given the graph Here output per worker is a function of capital per worker.  An improvement…

Q: 2. Two players have to divide a perfectly divisible cake of size 2. Half of the cake is made of…

A:

Q: Why Keynes argues that the “Classical” approach is a “special case” while his approach is the…

A: Introduction The classical economist believes that there is full employment exists in the economy.…

Q: Republicans claim that any type of price control is bad for the markets and reduces societal benefit…

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

Q: 6. Consider the cash flow transactions depicted in the accompanying cash flow diagram, with the…

A: The present value (PV) of a future financial asset or stream of cash flows is the worth of that…

Q: A Store makes a $10,500 investment at a Bank Ltd on January 1, 2019. At the end of December 31,…

A: Compound Interest refers to interest on interest. In simple words compound interest is the interest…

Q: Why is economics often described as the science of constrained choice?

A: The economics is the science which deals with the allocation of these limited resources to satisfy…

Q: In what ways does gift giving reduce inequality in society? In what ways does it increase it?

A: Inequality refers to significant differences or disparities in the distribution of income and…

Q: A consumer is observed making two choices. First, he faces prices p = (1,3) with wealth w = 8 but is…

A: Given,  1 Consumer, Two Choices:  Firstly : p=(1,3), wealth w = 8, Bundle chosen : x=(2, 2)…

Q: PROBLEM 6. On a sum of P15,000 for 2 years, if the difference between compound interest and simple…

A: A quick and simple way to figure out interest on money is to use the simple interest technique,…

Q: Consider a 529 (college savings) plan that will pay $20,000 once a year for a 4-year period (4…

A: child is send to college for 4 yo yours. The forged of $20000 in line with 12 months is -payable at…

Q: How many S21 would the firm be required to produce and sell to record total revenue of zero?  ii.…

A: Total revenue function for sale of $21: R(x)=2x2-9x-221        .......(1) Cost function: C(x)=-x2+4…

Q: Generally, people pay more for their first homes compared to their second homes." Is this statement…

A: Marginal utility is the extra utility received from consuming one additional unit of the good per…

Q: 4) Suppose there are two firms that compete in prices, say firms 1 and 2, but that the firms produce…

A: Given information q1=10-2P1+P2 q2=10-2P2+p1 MC1=2 MC2=3

Q: In the market for widgets: there are 20 people willing to sell at £5 or more, 20 people willing  to…

A: The supply schedule shows different combinations of price and the quantity supplied where the…

Q: 2) An industry consists of three firms with identical total cost functions C(q) = 20q+q². Market…

A: Given that, Three firms with identical total cost function: ?(?) = 20?+?², Market demand: ?(?) =…