What is the (absolute) elasticity of demand at the profit maximizing price?

Q: The Filthy Chemical Company dumps 100 tons of pollutants every year in the Pristine Lake. The Trout ...

A: Total amount of waste dump in the lake = 100 tons  Constant average cost for cleaning the pollutants...

Q: You are an accountant for a manufacturer of radios. The demand function for the tablets is p= 40-4x ...

A: Given  Demand function p=40-4x2            .... (1) Cost function C(x)=15x                      .......

Q: The Heckscher-Ohlin model predicts that trade in goods leads to convergence in prices of factors bet...

A: Answer: The Heckscher-Ohlin theorem says that the trade between countries occurs due to the differen...

Q: Find and describe an inflation contemporary issue of supply and demand into three paragraphs with em...

A: Demand and supply In an economy there is always a demand for goods and services and the supply of go...

Q: You are examining whether a recession was driven by a negative aggregate supply or negative aggregat...

A: A recession is a macroeconomic term that refers to a significant drop in overall economic activity i...

Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand giv...

A: Total revenue is the product of price and quantity. Revenue is maximized when marginal revenue is ze...

Q: All of the following have been used in the past as commodity money EXCEPT: O a. Salt. O b. Gold. Oc....

A: Correct option :- d. Water. Commodity money :- Whose value comes from a commodity of which it is mad...

Q: Answer the following questions. 1. In the following weighted voting system example, identify the quo...

A: Weighted voting In any voting system the votes of individual voters decide regarding the final decis...

Q: Suppose that K(t+5)/N > K(t+3)/N, where K(t+3) is capital in period t+3 and K(t+5) is capital in per...

A: Here, it is given that capital per worker in t+3 period is less than capital per worker in t+5 perio...

Q: If the demand for beef is relatively price elastic, due in part to the availability of would expect ...

A: Given that the demand for beef is relatively price elastic. 

Q: Monique has a flock of six chickens in her backyard that she initially bought for $6 each. The flock...

A: The economic profit states the total revenue minus costs, including opportunity cost. The formula fo...

Q: O In 2020, it was estimated that the US had 140.8M Housing Units. The homeownership rate in the US i...

A: Given: House units = 140.8B House ownership rate = 65.6% Average monthly rent = $1098 Average home p...

Q: A country is the only production site in the world for "hyperhoney infinite pasta", a wonderful prod...

A: International economics is concerned with the effects of international differences in productive res...

Q: A manufacturer of nne pens produces in two plants. The total cost of producing in the nrst plant is ...

A: Cost refers to the expenditure occur in the process of production by a firm. Given that, Total cost ...

Q: 4. A profit-maximizing firm has cost function C(Q) = 500 + 10Q + 200. 4a.What is the firm's marginal...

A: Please find the answer below. 

Q: Suppose the economy has 100 units each of goods X and Y and the utility functions of the (only) 2 in...

A: The initial endowments are not effcient and improvement is possible as explained below. 

Q: QUESTION 7 Excess demand exists when Select one: O a. quantity demanded does not equal supply. O b. ...

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

Q: 4. A profit-maximizing firm has cost function C(Q) = 500 + 10Q + 2002. 4a.What is the firm's margina...

A: (4b) For a perfectly competitive firm, MC above ATC is long-run supply curve.  C = 500 + 10Q + 20Q2 ...

Q: Suppose further that there are only two individuals in the economy, A and B, and their utility funct...

A:

Q: Which of the following is an example of diffuse reciprocity? Group of answer choices (pick one) a....

A: Diffuse reciprocity Diffuse reciprocity is a mindset, a readiness to contribute without expecting a ...

Q: At present, it is op- $504,000. Annual fi- $0.392 per unit of pr а. What is the fir b. At what volun

A: Here, Present capacity is equal to Total revenue  Profit = total revenue- total cost All parts solve...

Q: bur neighbors pay annual dues to a neighborhood association. This association refunds neighbo ues to...

A: A positive externality exists when the production and utilization of goods helps an outsider not str...

Q: What is the marginal revenue gained when one more unit of output is sold? Oa. The price at which the...

A: Answer: Marginal revenue: marginal revenue refers to the addition to the total revenue by selling an...

Q: Which of the following statement(s) describe sunk cost? 1) All of the answers are correct 2) It chan...

A: To produce a good, two types of cost are incurred, variable cost and fixed or sunk cost.

Q: Of the following, demand is likely to be the least elastic for Select one: OA diamonds OB. pink grap...

A: Elasticity measures the responsiveness of quantity demanded with respect to change in price.

Q: All of the following have been used in the past as commodity money EXCEPT: O a. Salt. O b. Gold. O c...

A: SInce ages, different materials have been used as a medium of transaction. With the passing time, pe...

Q: Label the following statement as true or false: A permanent, large increase in the price of oil red...

A: A permanent, large increase in the price of oil reduces the natural rate of unemployment - FALSE

Q: Which of the follwoing theoretical results is concerned with the relationship of factor endowments a...

A: Output refers to the sum of all the goods or services that a firm or producer makes within a period....

Q: In the following scenarios, you will be given a product and an event. Determine what will happen to ...

A: The demand for any product is based on several factors called determinants of demand. Thus, demand f...

Q: Zac has a current wealth of £400. He gets an email offering him the chance to enter a prize draw tha...

A: Given, Current wealth = 400 Utility function, uw=w Utility from current wealth u400=400=20 With a 25...

Q: Determine the present worth of a geometric gradient series with a cash flow of Php 50,000 in year 1 ...

A: Cash flow in 1st year (A) = 50000Increases each year by (g) = 6% or 0.06Interest rate (i) = 10% or 0...

Q: In international relations Forgiving strategies are Group of answer choices (pick one) a.bad for coo...

A: International relations is the study of the interaction of states with each other and with internati...

Q: Tnverse demond Sunction for Firm I pl=1-al-sąz ల Inverse fumcthiona for Firm Z demand bertrand euilu...

A: Introduction We have given a duopoly model. Here are two firms: firm 1 and firm 2. Inverse demand fu...

Q: At Charlic's bakery, the MPL, is -12. Does this mean her average product must also be negative? Expl...

A:  MPL A marginal product of labor refers to a change in the level of output due to hiring an addition...

Q: what are the factors that contribute to econmic grow

A: Economic growth is the quantity aspect of the economy. An economy's growth is directly related to th...

Q: Brenda wants to buy a new car and has a budget of $24,000. She has just found a magazine that assign...

A: a) The budget line would be given as PX*X+PY*Y= M Given the price of car increases by $4000 when one...

Q: Pick TWO answers. a. Wealth can be measured as a flow over time. b. Disposable income measures incom...

A: Wealth refers to the accumulated economic resources which can be measured in terms of real income. D...

Q: 1. Suppose all firms in a monopolistically competitive industry were merged into one large firm. Wou...

A: Monopolistic competition Monopolistic competition basically refers to a market condition in which a ...

Q: A firm has a production function Q in function of K and L that can be written as follows: Q = 2/K/L ...

A: The production function is a model that expressed the relationship between inputs (like labor and ca...

Q: Directions: Solve the following problems. Interpret the results. 1. Christine sells banana banana tu...

A: Given  At price Php 4.00, total sell is 50 pcs and at price Php 6.00, sell is 40 pieces.  Formula fo...

Q: QUESTION 3 che Heckscher-Ohlin model with trade the wage in a countr True False

A: The Heckscher-Ohlin model is an economic theory that states countries should export what they can cr...

Q: QUESTION 1 In the two good specific factor model with diminishing returns to the factors the utility...

A: The correct answer is given in the second step.

Q: A firm produces at an output level where the marginal product of labor (MPL) is 50 units and the mar...

A: A firm either maximizes profit or minimizes cost and hence it follows that any firm should follow th...

Q: 15. In general, international agreements must be enforced by sanctions from Group of answer choices ...

A: International agreement refers to the formal agreement among the countries (members). This formal ag...

Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand giv...

A: In the perfectly competitive market optimal condition is at that point where price is equal to margi...

Q: An economist sees the weekly job finding rate and the monthly job losing rate (which is 0,1 and 0,15...

A: The unemployed population is described by those people who are willing to work and are looking to wo...

Q: Suppose that the price of apples increases by 10%. Within a short amount of time, apple producers ar...

A: Elasticity of supply helps the producers in determining the production levels. It also explains how ...

Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand   equation q=...

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

Q: Which of the following is the preferable interest rate for investing your money? (i) 12% Compounded ...

A: Given: Interest rate (r)=12%

Q: Illustration 12.17. An index of production of a particular arti- cle follows the trend Y=100+6X with...

A: Y = 100 + 6X This equation is of the form Y = a + bX To get the monthly trend equation we will divid...