Q: Part 1: Spatial Equilibrium The demand in market 1 is D₁ = 24-P₁ The supply in market 1 is S₁ = -2 +…
A: Equilibrium is attained in the market at the point where the demand and supply are the same. At the…
Q: (a) What are the characteristics of a perfectly competitive market? (b) What are the characteristics…
A: Disclaimer- “Since you have asked multiple questions, we will solve the first three questions for…
Q: Suppose that you are running a business, and you need some extra space for one year. Your bank…
A: Deflation: Deflation is just the opposite of inflation. It implies the circumstances when prices of…
Q: Sarah wants to make an 8% real return on a loan that she is planning to make, and the expected…
A: Inflation is the increase in price level over the year. Inflation rate is the measure of inflation…
Q: The government imposes a $1,000 one-time license fee on all pizza restaurants. As a result, which…
A: Fixed cost are the cost that remains fixed at any level of output. Variable cost vary with the…
Q: A particular computing company finds that its weekly profit, in dollars, from the production and…
A: Marginal profit is the additional profit earned when an additional unit of output is produced.
Q: can I get some references and citations
A: There are so many references and citations are available for this answer. In below it's mention:
Q: S! |
A: GDP = Household consumption + Investment + Government spending + Net exports
Q: Exercise 4 Consider a monopolist operating a car park. Customers purchase monthly parking passes.…
A: a) Inverse demand is given by 2p=520−Qorp=260−0.5Q The total revenue function's derivative is…
Q: If the number of unemployed equals 30,000, the number of employed equals 60,000, and the number not…
A: The unemploymens rates is the percentage of unemploymens in the economy. The total labor force is…
Q: TC= 200+ 0.2Q +0.02Q² MIC=0.2 + 0.04Q Find the profit (or loss) if the market price is $2.
A: A perfectly competitive market is the market in which there are large number of buyers and sellers…
Q: 4. A manufacturer desires to set aside a certain sum of money to provide funds to cover the yearly…
A: Cash flow is the movement of cash all through an organization. Cash got means inflows, and money…
Q: The daily demand for pizzas is where P is the price of a pizza. The daily costs for a pizza company…
A: Demand function; Qd = 780 - 25P25P = 780 - QP = 31.2 - Q/25 Fixed cost, FC = $50Variable cost, VC =…
Q: Consider a perfectly competitive firm in short run. If this firm faces a market equilibrium price…
A: A market is said to be perfectly competitive when the participants in the market are in large…
Q: Question 12 Rhianedd has a utility function of the formu u(W)=√W. She has initial wealth of £140.…
A: Certainty equivalent of risky consumption bundle is the amount of consumption which if provided a…
Q: monopoly firm faces the following average revenue (demand) curve: P = 360 − 0.04Q where Q denotes…
A: Given information: : P = 360 − 0.04Q C = 60Q + 5000 MC = 60
Q: Define “economic rent” and identify the market structure that generates the highest economic rent.
A: Economic Activity: Numerous activities in an economy that revolve around the production, sales, and…
Q: match the letter to the Description or over production Inventory and demand not in sync Alternating…
A: Endogenous growth theory is based on an assumption that the economic growth is mainly due to the…
Q: 1. Collusion is an anticompetitive practice that could fall under the criminal code according to the…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: What is the difference between a monopoly and a monopsony? What happens when they meet? Explain
A: In economics the monopoly and monopsonies are related economic terms that explain the imbalanced…
Q: EFORMING ROR ANALYSIS FOR 3D PRINTER AND IOT TECHNOLOGY ackground oftware used in 3D printer systems…
A: An essential method of capital budgeting is the present worth analysis. The difference between the…
Q: Other indicators of the health of the labor market that economists track are: a. New…
A: The economic indicators include the statistics that help economists to determine the health of an…
Q: 5) A monopolist faces a demand of Q = 14 - P, where P is price. The firm has chosen to produce…
A: Deadweight Loss is the loss of welfare. Deadweight Loss arises from the inefficient production.…
Q: mr.rahim is planning to pursue MBA studies.initial inquiry shows that he will have to pay RM 25,000…
A: Profits are treated and calculated differently by economists and accounts. While calculating the…
Q: One year ago, your company purchased a machine used in manufacturing for $120,000. You have learned…
A: NPV of the replacement project is calculated based on the incremental cash flows. If NPV is…
Q: A young engineer is considering establishing his own small company. An investment of P400,000 will…
A: The rate of return is the cost of capital or the rate at which money is borrowed.
Q: ChemCo Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will…
A: Given: First Cost=$43000 Annual costs=$18000 Annual Revenue=$40000 Salvage value=$4000 Number of…
Q: The most frequent argument used to support trade barriers is that they O protect domestic jobs O…
A: Trade barriers refer to policies such as import tariffs and quotas.
Q: You’ve been given a firm’s production and cost functions: p = 132 −2q MC = 12 + 4q (a) Assume this…
A: Equilibrium is where demand equals supply. In a competitive market, Equilibrium is where price…
Q: Calculate the variance of the outcome of rolling a fair 8-sided dice.
A: Variance refers to the statistical measurement used to calculate how far each number is from the…
Q: 4. A multiproduct firm's cost function was recently estimated as C(Q₁, Q₂) = 75 -0.250102 +0.10…
A: C(Q1,Q2) = 75 - 0.25Q1Q2 + 0.1Q12 + 0.2Q22
Q: what policy can the government can implement to combat financial Instability in a country?
A: The financial system is an integral part of an economy. It comprises banking and non-banking…
Q: China and South Korea are two of the leading manufacturers of smartphones and laptops. While the…
A: A free trade agreement won't have much of an influence on the laptop market since it is very…
Q: Refer to Table 2. At an aggregate output level of $100 billion, what is the unplanned inventory…
A: When aggregate output is less than planned spending the unplanned inventory investment will be…
Q: Beta and Gamma produce vitamin A at a constant average cost of $5 per unit. Assume that low-price…
A: The potential rewards to each firm depending on each probable outcome are shown in a payoff matrix,…
Q: Consider a pure exchange economy with two goods, r and y, and two consumers, 1 and 2. The consumers'…
A: For pareto efficient allocation Marginal Rate of Substitution of consumer 1(MRS1)=Marginal Rate of…
Q: (a) What is the breakeven selling price per unit? (b) What is the selling price per unit assuming…
A: The break-even point is the one at which the revenues generated by the firm are equal to the costs…
Q: Is Neoliberalism is a bad or good thing knowing there are pros and cons?
A: Neoliberalism is a word used to describe the political resurgence of 19th-century theories of…
Q: Suppose the demand function for a firm's product is given by In Qxd = 7 -1.5 In Px + 2 In Py-0.5 In…
A: Microeconomics explains demand elasticity as a measure of the propensity for demand of a thing to…
Q: In the market for gold jewelry, products come in a range of designs, styles, and levels of quality.…
A: Perfect competition is a type of market structure in which there are large number of buyers and…
Q: An open economy interacts with the rest of the world through its involvement in world markets for…
A: Achieving Balance of Payments Equilibrium The balance of payments accounts note all transactions…
Q: Which of the following best explains why adding more of a variable input will eventually lead to…
A: The production of output depends on different inputs. In the short run, some inputs are kept fixed…
Q: The equation for a supply curve is P = 3Q - 8. What is the elasticity in moving from a price of 4…
A: Price elasticity of supply: It measures the percentage change in the quantity supplied for a 1%…
Q: U.S. Steel is considering a plant expansion to produce austenitic, precipitation hardened, duplex,…
A: The profit expressed in current time dollars is the project's net present value. Additionally, we…
Q: 4) Smart Financial starts its first day of operations with $15 million in capital. A total of $130…
A: The balance sheet's total represents all assets (as well as all liabilities). To the right of the…
Q: An increase in the interest rate should increase investment spending. decrease consumption spending.…
A: Aggregate demand is the sum of Consumption spending, investment spending, government spending and…
Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…
A: GDP refers to the sum total of the market value of the final goods and services produced in a…
Q: Gross d
A: GDP = consumer spending + investment spending + Government purchases of goods and services + Net…
Q: A project costing P250,000 yields a yearly benefit of P80,000 for a period of 10 years with no…
A: Conventional Benefit cost ratio =Present worth of Expected BenefitPresent worth of Expected cost
Q: Suppose that a firm produces 450,000 units a year and sells them all for $20 each. The explicit…
A: Economic Profit = Total Revenue - Explicit cost - Implicit cost Total Revenue = Price * Quantity
Step by step
Solved in 4 steps
- Match each diagram in Figure 1 with its description here.Assume that the economy is producing or attempting toproduce at point A and that most members of society likemeat and not fish. Some descriptions apply to more than one diagram, and some diagrams have more than onedescription.a. Inefficient production of meat and fishb. Productive efficiencyc. An inefficient mix of outputd. Technological advances in the productionof meat and fishe. The law of increasing opportunity costf. An impossible combination of meat and fishQuestion 1Define the difference between following terms :i) Microeconomics versus Macroeconomicsii) Normative statements versus positive statementsiii) Change in Supply versus change in quantity suppliediv) Law of Demand versus law of supplyv) Determinants of Demand versus determinants of Supplyvi) Opportunity cost versus Marginal costvii) Price Elasticity of Demand versus Cross-Price Elasticity of Demand.viii) Perfect competition versus competitive marketsix) Invisible hand theory versus price controlsx) ‘Free lunch’ versus ‘there’s no such thing as free lunch’xi) ‘How people make decisions’ versus ‘How people interact’ Note: kindly answer the all above terms with example if you want upvote for your answer thanksGraphically demonstrate how the following economic events influence (ceteris paribus) the relevantsupplyfunction. Label your axes, and specify the market you are discussing. (a) Strong profits in the market for cyber security attract new firms. (b) Low-cost energy reduces the expense of producing and storing ice cream
- When two individuals produce eff iciently and thenmake a mutually beneficial trade based on com para~tive advantage,a. they both obtain consumption outside their productionpossi bil ities frontier.b. they both obtain consumption inside their p rod u c ~tion possi bil ities frontier.c. one individual consumes inside her productionpossibilit ies frontier, while the other consumesoutside hers.d. each ind ividual consumes a poi nt on her ownproduction possibi lities frontier.Supposeg1increases, but stillc1+b1+g1<1. Using a graph of the goods market, show how we would represent an increase in the value ofg1on equilibrium output y. Be sure to label all axes, curves, and equilibrium points. Suppose instead,c1+b1+g1= 0. Is the equilibrium in the goods market still possible? If so, what is the equilibrium output? You must explain your answer to receive full credit.Define the Market Economy term and provide an original, economics-based explanation of the term. Aslo provide a real/hypothetical contextual example (different from that provided in the text) of the term as it is applied to economics.
- Below is the production possibilities table for consumer goods (maize) and capital goods (tractors):Type of productionProduction possibilities A B C D Emaize 30 27 21 12 0Tractors 0 2 4 6 8i. Show these data graphically. ii. If the economy is at point C, what is the cost of one more unit of maize? iii. Suppose improvement occurs in the technology of producing tractors but not in the technology of producing maize. Draw the new production possibilities curve. iv. Now assume that a technological advance occurs in producing maize but not in producing tractors. Draw the new production possibilities curve. v. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.why is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphicallyTime remaining:00 :09 :39EconomicsUse the following to answer questions (29) - (31):In the town of “One Horse” there is one movie theater. Two groups of consumers, adults (A) andchildren (C), attend this theater. Suppose the demand for movies by adults is given by:QA = 50 - 0.50PA, where PAis price ofan adultmovie ticket(in cents)and QAis the numberofmovie tickets sold to adults atthe theater. Suppose the demand for movies by children is given by:QC = 20 - 0.50PC,where PCispriceofa children’s movie ticket(in cents)and QCis the numberofmovie tickets sold tochildren atthe theater. Also, imagine totalcostis fixed at$450, thus makingmarginalcostofprovidingonemore movie ticket to either an adult or a child constant at zero.[29]Ifthe movie theateris able to price discriminate amongits two groups ofconsumers, then itshouldcharge a higher price to group A.A.TrueB.False[30]Ifthemovie theateris able to price discriminate amongits two groups ofconsumers, then itsmaximum profit is closest in value…
- Economics ASAP) Average waiting time for ordering is 2minutes. However, in peak - hours, the timeincrease up to 6 minutes. Around 2- 4 people in line during thenormal time, and in the peak- hours, about4 - 6 people in the line for ordering. Customers usually wait 8 minutes to get their orders. In No peak- hour, No customers in the line.In No peak- hour, It took 3 minutes to getthe order. {ONLY ONE CASHIER AND ONE BARISTA CAN U CALCULATE THE ARRIVAL RATE,SERVICE RATE (CASHIER), SERVICE RATE (BARISTA)? AND BOTTLE NECK }a) i)Explain difference between; ii,Microeconomics and macroeconomics iiiPositive and Normative economics b) Given the following demand and supply functions as; i)Find the price elasticity of demand and price elasticity of supply at the equilibrium point. ii)Based on the values obtained from Price elasticity of supply in (i) above, what advice would you give to the producer if he is to increase revenue? iv)Using illustrations, distinguish between Minimum and maximum price v)Assuming the government, set the price at 45shs, determine whether its minimum or maximum price, and state the surplus or deficitReview the numbers for Canada and Venezuelafrom Table 33.12 which describes how many barrelsof oil and tons of lumber the workers can produce. Usethese numbers to answer the rest of this question.a. Draw a production possibilities frontier for eachcountry. Assume there are 100 workers in eachcountry. Canadians and Venezuelans desire bothoil and lumber. Canadians want at least 2,000tons of lumber. Mark a point on their productionpossibilities where they can get at least 3,000tons.b. Assume that the Canadians specializecompletely because they figured out they havea comparative advantage in lumber. They arewilling to give up 1,000 tons of lumber. Howmuch oil should they ask for in return for thislumber to be as well off as they were with notrade? How much should they ask for if theywant to gain from trading with Venezuela? Note:We can think of this “ask” as the relative price ortrade price of lumber.c. Is the Canadian “ask” you identified in (b) alsobeneficial for Venezuelans? Use the…