What is a downward sloping

Q: What is price line in economics? Explain with proper graph?

A: Price implies the value of a commodity or service in a market at which sellers offer any commodity…

Q: Wage = 10 + 1.2 × male + 2 × educ + 0.15 × (male × educ) + u %3D he dependent variable is hourly…

A:

Q: Consider the graph. Suppose that the price of a sedan decreased from $20,000 to $15,000. This would…

A: In economics, the law of demand is an important concept that establishes the functional relation…

Q: Sketch a graph to illustrate your idea of each of the following relationships. Be sure to label both…

A: Since you have posted multiple sub-parts, we are answering the first three for you. If you want…

Q: Briefly explain what are flow variables?

A: In economics, a distinction is often made between quantities that are stocks and quantities that are…

Q: In the circular flow model of an economy, households Select one: O A. receive income from the sale…

A: Economist has developed a circular flow of income to provide better information about the income and…

Q: The Marginal Rate of substitution depends on the   O a. Tastes and preferences of the consumer…

A: The  marginal rate of substitution depends on the taste and preference of the consumer because…

Q: Consider the following graph, which shows the relationship between an individual’s income and the…

A: According to the graph, Bob's income is $3000 per month, and he has 6 dinners out per month.

Q: Suppose Maria would spend $1500 per year on travel, even if her annual income were zero. As her…

A: $1500 spending on travel by Maria is known as autonomous spending which is independent of her…

Q: Consider the simple economy that produces only three products. Use the information in the following…

A: here we calculate the Inflation rate for 2018 by CPI so the calculation as follow-

Q: Draw the indifference curve for someone decidinghow to allocate time between work and…

A: There is a choice which people face between income (to earn and consume) and leisure. It can be…

Q: How would you interpret (1) an upward sloping curve and (2) a downward slope curve in a two variable…

A: Upward sloping curve shows positive relationship between the two variables and downward sloping…

Q: What is the difference between a shift of the curve and movement ALONG the curve?

A: A demand curve shows the inverse relationship between quantity demanded and price in a given market.…

Q: f an economic curve has a negative slope, then one variable _______ falls as the other rises.

A: The notion of slopes is very important and useful in economics as it helps in measuring the…

Q: Explain, in terms of income and substitution effects, why increased wages could lead to less work,…

A: The substitution effect: When a product's cost rises, consumers are more likely to buy its…

Q: a. Discuss whether you think these regression results will generate good sales estimates for B.U.…

A: Demand analysis deals with the estimation of demand/sales based on available historic data for the…

Q: Suppose that the representative consumer's div- idend income increases, and his or her wage rate…

A: Substitution effect:- once a product's value rises, the substitution result happens, leading to a…

Q: which is the most preferred level of individual’s choice for public expenditure relating it with…

A: Utility means the total satisfaction a consumer or individual gets by consuming a certain amount of…

Q: Give two example of intermediate goods?

A: Intermediate goods are those goods which become part of final good

Q: A typical consumer's "leisure basket" in the base year 2019 is as follows: 20 movie tickets $15.00…

A: Given information Base Year = 2019 Leisure Basket of goods in 2019 includes following 5 goods: 20…

Q: Define the term cost-of-living index?

A: Cost-of-living refers to the amount of money that is required by an individual to maintain an…

Q: residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2020, they…

A: CPI is measured using fixed basket of goods.

Q: one: remain unchanged shift outwards movement upwards along the same curve d. shift inwards e.…

A: Capital intensive implies that the useful cycle that needs a high level of interest in fixed assets…

Q: b. Pričěš añd income remain unchanged O c. Price of apples increased, the price of oranges decreased…

A: Inflation is the pace of increment in costs throughout a fixed given timeframe. Inflation is…

Q: what relationship does IS curve plot? explain in words and graphically, why IS curve slops downward

A: In Keynesian economics, the equilibrium interest rate and income level are determined by the IS-LM…

Q: Why isn't the answer b? How is the figure on the right fixed when it fluctuates?

A: In the international market, value of currency is based on the market system such as flexible and…

Q: the relationship between economic well-being and social well-being (i.e happiness)?

A: Economic well being deals with the financial stability, investment and assets. It deals with the…

Q: ) Explain by using an example why an MRS (Marginal Rate of Substitution) between two goods must…

A: The MRS is a measurement of how eager a customer is to trade one good for another in order to…

Q: What is law of variable proportion?What are the assumptions of the law?

A: In simple words we can say that the law of variable proportion is the that which always takes place…

Q: In the figure below, which represents how the labor/leisure choice of a consumer changes when the…

A: In microeconomics, the income effect refers to the Δ in demand for a commodity or service caused by…

Q: The Laspeyres index is the ratio of the price of goods at prices to the price of goods at prices. O…

A: Laspeyres index refers to the price index of Fixed quantity of goods and services

Q: 1. What is the equation for the isocost? 2. What is the value of the slope of the isocost? 3.…

A: Since you have asked a question of multiple subparts. As per the answer guideline, I will solve the…

Q: The following diagram represents an economy in whích total factor productivity z increa PPF2 C2 PPF…

A: Substitution Effect : The substitute effect can be explained as the change in the quantity purchased…

Q: der the relatiönship y = f(x). In this relationship: O a. y is called the independent variable and x…

A: y=f(x) implies that y is a function of x. The function can be increasing or decreasing. If y is an…

Q: What is the difference between a negatively and positively sloped income-consumption curve?

A: An income-consumption curve gives the realtionship between the consumer's income and their chosen…

Q: What is the difference between the income consumption curve and the Engel curve?

A: The financial gain-consumption curve (also referred to as the financial gain growth route or the…

Q: House Govern holds ments Factor markets Goods markets C Firms World In the above figure, household…

A: The circular flow of money states that how the income is circulated between the household and firms…

Q: Jane insists on consuming 4 bowls of yogurt with 2 bananas. If the price of banana is $1 per unit…

A: The curve that demonstrates the relationship between income of a consumer and his demand for a…

Q: f your income is $60 and the prices of product A and product B are $4 and $3, respectively, how many…

A: A budget line is the line that indicates the number of units of all the goods a consumer can consume…

Q: Answer any 1 from a and b below Explain the shape of AS? What shifts AS

A: The curve that depicts various quantities of goods being supplied by producers at different price…

Q: An example of a transfer payment is which is in GDP. O a paycheck for a member of the National…

A: GDP measures the market value of goods and services produced within an economy in a given period of…