Q: Suppose that yearly inflation for 2020, 2021 and 2022 are 20%, 25% and 20% respectively. If the…
A: CPI is the measure of the aggregate price level in the economy CPI after 3 years would be =…
Q: government finances the deficit by issuing bonds, what amount. billion percent rate of interest, how…
A: Debt describes to an obligation or liability that happen when one party, known as the debtor,…
Q: Write a Literature Review on the causes and consequences of rising food prices on lower income…
A: Travel and Tourism, the agricultural sector, and overseas banking and insurance are the primary…
Q: Assume that the IS-MP model on the right shows an economy that was in long-run macroeconomic…
A: The IS-MP model is an economic framework that combines the IS curve (Investment and Saving) and the…
Q: How does deposit insurance encourage banks to take on too much risk? 1. Banks can make riskier…
A: Deposit insurance is directly supervised by the national govt under the jurisdiction of the CB. It…
Q: 9. Application: Elasticity and hotel rooms The following graph input tool shows the daily demand for…
A: Elasticity of demand is a measure of how sensitive the quantity demanded of a product or service is…
Q: Suppose that Brice has an asset worth $200 in the present. That asset will be valued at $340 in 1…
A: In this scenario, we are presented with an asset owned by Brice that is currently valued at $200.…
Q: A monopoly's cost function (C) is where Q is output. Demand is C=0.2Q³ -9.5Q² +380Q +150 p=590-2Q.…
A: GivenThe cost function of monopolist: Demand function p=590-2QThe monopolist…
Q: What monetary incentives do mobile network operators have to make long-term investments in their…
A: Long term investments in network infrastructures for the the mobile network operators could include…
Q: 3. Describe the price elasticity of demand of a double-double coffee bar. The demand for a…
A: ( According to Bartleby Guidelines we are only allowed to answer one question at a time, it is…
Q: 109 83 35 18 T B S X Q Dy 223 634 1374 Emissions Consider the figure above if the government imposes…
A: In the given diagram we are provided the per unit cost of abatement curve which is downward sloping.…
Q: suppose the average variable cost of production is $15 when output equals 110 haircuts and $17.26…
A: To maximize profit, the firm needs to determine the level of output at which its costs are…
Q: Consider the following sequential move game played by three players, A, B and C. Player A moves…
A: Pure strategy Nash Equilibrium: Nash equilibrium with 2 players is the strategy profile where both…
Q: Give only typing answer with explanation and conclusion PPC is concave to the point of origin…
A: Manufacturing and marketing choices in economics include determining the optimal quantity of output…
Q: Consider a discriminating monopolist that sells a product in two isolated geographical areas. The…
A: In economics, manufacturing and marketing decisions include identifying the optimum amount of…
Q: Table below shows total demand and supply of loanable funds (in RM billions) in an imaginary…
A: Analyzing the market for loanable funds involves graphing the relationship between demand and supply…
Q: Veatch, et. al., argue that Dr. Rust could justify denying Tommy antibiotics based on both strictly…
A: The goal of utilitarianism in economics is to increase or maximize the welfare of individuals in…
Q: The following are key characteristics of Bitcoins as one of the main cryptocurrencies currently in…
A: Bitcoins are one of the main cryptocurrencies available today, known for their unique…
Q: Refer to the information provided in Figure 2 below to answer the questions that follow. Price per…
A: Monopolies can turn out to be very harmful to an industry and its consumers. Monopolies may thwart…
Q: What administrative trade policies are in place in Australia that make it difficult for imports to…
A: Here is an overview of some administrative trade rules that were in Australia:-
Q: How is peak-load pricing a form of price discrimination? Give an example.
A: Monopolistic competition is one of the various types that a market possesses. Under this structure,…
Q: David and Morgan are farmers. Each one owns an 18-acre plot of land. The following table shows the…
A: Absolute advantage is different from comparative advantage, which takes into account the opportunity…
Q: Use diagram to explain what will happen to the exchange rate between the rand and the US Dollar if…
A: The value of one currency in another currency's terms is known as the nominal exchange rate. It also…
Q: What are factors that affect economic growth? Physical, natural, human resources, and technology
A: Several factors can influence economic growth, including physical, natural, human resources, and…
Q: In order to maximize the total monthly bonus, the manager should allocate hours toward meeting each…
A: This question is about a convenience store manager who earns a base salary plus a bonus of $60 for…
Q: Hacmillan Learning Suppose the graph represents the labor market for low- wage workers. A minimum…
A: The job market is essential for every nation's economy due to the fact that it provides income,…
Q: Without additional data, the value of the GDP price index cannot be known for any year in the graph…
A: Nominal GDP is the raw dollar value of economic output, while real GDP adjusts for changes in the…
Q: According to your graph, the equilibrium value of money is Now, suppose that the Fed increases the…
A: The money demand curve is downward sloping. The money supply in the economy is set by the central…
Q: If national output increases there will be
A: National output refers to the output produced within the border of a country. It includes the values…
Q: Use the accompanying graph to answer the following questions: Price Level 2 4 6 8 AS AD 12 14 16 18…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first three question for you.…
Q: What kind of attention is required? Why should a business make sure it is taking fair steps in its…
A: What kind of attention is needed? Why should a company make sure that the right safety precautions…
Q: The graph below shows a duopolistic market. The firms in this market produce and sell identical…
A: Oligopoly is a form of market where there is only a limited number of firms or suppliers who have a…
Q: How do costs vary in response to changes in the quantity of a variable input? In your own words. 250…
A: In economics, the concept of costs and their relationship with the quantity of a variable input is…
Q: Note: Good A B C D E F G H I J Nominal rate 10% 5% 0% 30% 2% 2.5% 15% R0.50/unit 40% R2.50/unit…
A: We need to take the average of all the nominal tariff rates without considering the import values.…
Q: a. If national saving of a closed economy equals$100,000, net taxes equal$125,000,GDPdeflator is 175…
A: For a closed economy, National Savings = Private Savings + Government Savings => Private Savings…
Q: The below graph represents a monopoly market, a quantity where Elasticity >1 is (enter whole…
A:
Q: Describe five economic effects of a continuous, moderate inflation.
A: Continuous, moderate inflation can have several economic effects. Here are five key results:-
Q: The following market is a duopoly populated only by the companies Alpha and Beta. The pay-off matrix…
A: Oligopoly is a form of market where there is only a limited number of firms or suppliers who have a…
Q: What does the Marshall-Lerner condition describe? a. When the valuation effect from a real…
A: The Marshall-Lerner condition is an economic theory that deals with the impact of exchange rate…
Q: Draw a graph that shows the labor vs leisure for US firms using undocumented immigrants.
A: The employment landscape in country U is centered on the nation's need for workers and their…
Q: Suppose the consumption function is C-$700 billion+08Y and the government wants to stimulate the…
A: Aggregate demand refers to the total demand for commodities and services made by all the economic…
Q: olve this problem again Why you dont put p ans something wrong in the second part of questio
A: The Diamond-Dybvig model is a seminal model in the economic literature that demonstrates how bank…
Q: Based on Figure 3, choose the right statement. 1) Growth in output is protrade because the cloth…
A: Protrade output growth refers to an increase in the production or output of goods and services that…
Q: The Unemployment Rate Go to the Bureau of Labor Statistics website (www.bls.gov). Click on…
A: The economic indicator that measures the proportion of the labor force that is jobless and actively…
Q: 2. Consider the situation where shareholders hire a CEO to manage a firm. The CEO's utility function…
A: A utility function is a concept commonly used in economics and decision theory to represent…
Q: y spatial relationship of the countries Nepal, Jamaica, Senegal and Brazil?
A: The core-periphery spatial relationship refers to the economic and spatial interdependence between…
Q: Part a Determine the ERR for this project. N 3 4 5 6 % $27 $27 $27 $27 $27
A: To calculate the Economic Rate of Return (ERR) for the given cash flow profile, we need to determine…
Q: ists and others speak of sustainable development as a means for meeting present human needs without…
A: The standard of living describes the level of wealth, comfort, use of materials, and overall life…
Q: Does competition on the Internet resemble perfect competition? Discuss the impact of such a market…
A: The question of whether competition on the Internet resembles perfect competition is a complex one,…
Q: Assume the Federal Reserve triples the growth rate of the quantity of money in circulation. In the…
A: The long-run aggregate supply (LRAS) curve represents the relationship between the price level and…
Step by step
Solved in 3 steps with 5 images
- A nursing home is deciding whether to add an additional employee to its staff. The marginal cost of hiring this worker depends on the a. total amount paid to previously hired workers. b. total amount paid to the new worker. c. the additional revenue created by having an additional worker. d. the total amount paid to all the workers, both the new one and the previously hired workers.After hiring the third emplyee, John was able to produce 110 units instead of 80 units without the third employee. The price of each unit is $10. What is the Marginal Revenue Product of the third employee. $800 $1100 $3000 $1900 Not Enough InformationLeadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume that the market wage rate for workers is $80 per day. Leadbelly should follow this rule to hire the profit-maximizing amount of labor: Hire workers up to the point where the (marginal product, value of the marginal product, or output price) is (less than, greater than, or equal to) $80 per day.
- In 1992, the NLRB issued a decision in the Electromation case that: Ruled that quality circles were illegal Established that a company appointed employee committee was not necessarily illegal just because it talked to management about wages, hours, and working conditions Ruled that any employee committee formed by management was illegal because it served to keep unions out Ruled that employee committees formed by management for the purpose of understanding employee concerns over wages, hours, and working conditions violated Section 8(a)(2) of the NLRAAliyah is preparing to expand her IT consulting company. The current market rate for IT professionals is $58,000 per year. Each employee she hires will also require a computer and equipment that costs $6,000 per employee annually. Hiring more employees means that Aliyah can provide consulting services to more clients each year. Each client Aliyah has will pay her $15,000 per year. The number of clients Aliyah can take on depends on the number of workers she hires as shown in the accompanying table. What is the marginal cost and marginal benefit of hiring each worker? Using the Rational Rule to maximize her economic surplus, how many workers should Aliyah hire? Number of workers Clients per year 0 0 1 11 2 20 3 27 4 32The Zippy Paper Company has no control over either the price of paper or the wage it pays itsworkers. The following table shows the relationship between the number of workers Zippy hiresand total output: Assuming the selling price is $10 per box, answer the following questions:a. What is the marginal revenue product (MRP) of each worker?b. How many workers will Zippy hire if the wage rate is $100 per day?c. How many workers will Zippy hire if the wage rate is $75 per day?d. Assume the wage rate is $75 per day and the price of a box of paper is $20. How manyworkers will Zippy hire?
- What factor limits the amount a firm can pay a worker to produce a product?Michael Scott owns a bakery and is considering hiring two more workers, Pam and Jim. Suppose that the market wage for another worker is $90 per day. Pam would generate a daily marginal product of 5 cakes, while Jim would generate a marginal product of 4 cakes. If cakes sell for $40 each and the ingredients for each cake cost $20, what should Michael Scott do? Group of answer choices Not hire either worker Only hire Jim Hire both Pam and Jim Only hire PamThe local community contains many residents with PhDs who would like to teach as adjunct professors at the local university, which is the main employer of people with PhDs. The university’s demand curve or marginal value curve for adjunct professors is written: W = 12,000 – 15Q, where W refers to the employer’s willingness to pay for an adjunct professor to teach one course. Because the university faces the entire market supply curve for adjunct professors, the supply curve is upward sloping as hiring each additional adjunct requires offering a higher wage for all who are hired. The assumption that everyone is paid the same salary as required by the marginal worker leads to the university’s marginal expenditures rising faster than the supply curve. The average expenditure curve (or supply curve) for teachers is written as: W = 4,200 + 25Q. But assuming that hiring an additional teacher involves increasing the wage for all of the teachers hired, the marginal expenditures for…
- A farm can produce 10,000 bushels of wheat per year with five workers and 13,000 bushels with sex workers the marginal product of the six worker is?suppose you are hiring a worker for your firm. you advertise a position for $50,000, but an applicant offers to work for 40,000. Should you jump to this offer?The desire to maximize profits can work against racial and other types of discrimination. To see why, consider two equally productive accountants named Ted and Jared. Ted is black, and Jared is white. Both can complete 10 audits per month. Instructions: Enter your answers as a whole number. In part b, round your answer for profit rate to 1 decimal place. b. If the market price that accounting firms charge their clients for an audit is $2,000, what would the accounting profit per audit be for a firm that hired either Ted or Jared? $ What is the profit rate as a percentage? c. Suppose that firm A dislikes hiring black accountants, while firm B is happy to hire them. So Ted ends up working at firm B rather than firm A. If Ted works 11 months per year, how many audits will he complete for firm B each year? audits How much in accounting profits will firm B earn each year from those audits? d. Because firm A passed on hiring Ted because he was black, firm A is forgoing the profits it could…
