What is the cross-price elasticity of demand? Based upon your answer, are Netflix and HCCCtinder substitutes or compliments?

Q: Suppose a monopolist faces a market demand curve given by P = 50 - Q.  Marginal cost is initially…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: Suppose that 2 roommates, Andy and Bob, are trying to pick an apartment in Chicago. Locations can be…

A: Pareto efficient allocation refers to the ones deviating from which no person can be made better off…

Q: An explicit cost is: Select one: a) An implicit cost to the factor of production owner who…

A: Explicit cost:- Explicit costs, which are also known as accounting costs, are simple to calculate…

Q: Fred gathered data on the price and quantity demanded of chocolate over the course of a week.  He…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: 1. If the GDP deflator was 100 in the base year of 2018, and 105 in 2020, we can say that a the…

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

Q: If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest…

A: The formula used in the compound interest is  =P[1+(r/m)]mt-P A = the future value of the…

Q: For the demand equation, express the total revenue R as a function of the price p per item.…

A:

Q: In 1885, first-class postage for a one-ounce letter cost $0.02. The same postage in 2015 costs…

A: The term "compounding" refers to "the rise in value of an investment due to the interest generated…

Q: Which Determinant of Supply will cause the supply curve for blueberry jam to shift to the right when…

A:

Q: What has been the average annual growth rate of U.S. real GDP per person over the 120 years from…

A: The real Gross Domestic Product (GDP) per capita annual growth rate is calculated as the percentage…

Q: Consider the following simplified scenario. Imagine that the Australian national rugby union (for…

A: # MC (Marginal cost) = $20  # Demand for Full Fare Tickets : Q = 120 - 2P  # Demand for concessional…

Q: Explain the concept of Neoliberalism and give example for easy understanding.

A: Neoliberal policies target making a structure for the economy that makes it conceivable to raise…

Q: A firm produces output via the function: Q = L - (L²/800), where Q is the output per week and L is…

A: Input cost minimization:- According to the conception of a firm, a firm will strive to maximize…

Q: Small railcar manufacturing machinery had an $180,000 initial cost and a $30,000 projected salvage…

A: Salvage value is the anticipated book value of an asset after depreciation is complete and is based…

Q: Assume that in 2015, the following prevails in the Republic of Nurd: Government spending (G) = $0…

A: Y is given as $200 Thus, Yd will be: Yd=Y-TYd=200-0Yd=200 (Since taxes is 0) Now, consumption and…

Q: Explains what researchers have found on this topic (inflation: costs and benefits)

A: Inflation: Inflation describes a situation in which prices tend to rise. Economists believe…

Q: Q 2 Do you think caring labour should be paid?

A: Care work can be either paid or unpaid. Unpaid caregiving is primarily done at home and is primarily…

Q: Consider a market in equilibrium. Suppose demand in this market increases. How will this affect…

A: Market is in equilibrium at the intersection of demand and supply curves where quantity demanded…

Q: Who was affected by Hurricane Sandy Give few examples (not more than 4) and *explain how each is…

A: Tropical storms with hurricane characteristics can develop in the eastern Pacific, Caribbean, Gulf…

Q: Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2…

A: The value of final goods and services produced in a year is known as the nominal GDP. When the…

Q: The alternative to the Uber pricing model is the taxi pricing model where a government commission…

A: A price ceiling is the commanded maximum sum a vender is permitted to charge for an item or…

Q: A firm is producing 1,000 units at a total cost of $5,000. If it were to increase production to…

A: The total cost is the sum of the fixed and variable costs. The term "fixed cost" refers to the cost…

Q: From various authoritative sources of inflation for the current year and the medium term. Decide…

A: Inflation The gradual loss of purchasing power is essentially what price increases, also referred to…

Q: Which of the following concepts was included in the textbook reading "The Economics Book : Companies…

A: When talking about different types of markets, it can be said that markets are classified based on…

Q: A piece of machinery can be bought for P10,000 cash or for P2,000 down and payments of P750 per year…

A: Given:- Cash price=P10,000 Down=P2000 payment=P750 time=15 years To calculate:- Annual interest…

Q: Problem 8 Metso Automation, which manufactures addressable quarter-turn electric actuators, is…

A: Given cash flow  At n=0, deposits =$70,000 At n=2, deposit =$90,000 We have to calculate the…

Q: Supply fucntion: QS=200P-700 Demand function: Qd=3000-100p   If a goverment want to reduce the…

A: Demand and Supply Demand refers to the quantities of a commodity that the consumers are ready to…

Q: xceed marginal revenue, then: me firm should increase its production level. he firm's average costs…

A: Equilibrium of a firm is at the level where marginal cost is equal to marginal revenue curve and…

Q: A mathematical approximation called the rule of 70 tells us how long it will take for something to…

A: Given, Real GDP in Panama = 12000 (per person) Real GDP in US = 48000 (per person)

Q: what problem the value addedto measuring GDP resolved?

A: The total market value or worth of all the finished goods and services produced within a nation's…

Q: Ms. Frangipani prefers Pepsi over Coke on a rainy day; Coke over Pepsi on a sunny one. On one sunny…

A: Utility refers to the satisfaction. The aim of the consumer is to maximize the utility. The two…

Q: Coase theorem encourages bargaining for externalities Select One: a) None of the answers is…

A: When the act of production or consumption affects the third party who is not involved in the process…

Q: You have noticed that the price of season tickets to your university’s football matches keeps…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: Diego and Thuy had the same negative experience at a restaurant (slow service and cold food). Diego…

A: Behavioral economics is the study to show, how the psychological, emotional, cultural, and social…

Q: 5. Price (dollars per sandwich) 0 1 234 SST 0 5 6 7 8 Quantity demanded (sandwiches per 400 350 300…

A: Anything a consumer is willing to purchase backed by the purchasing power is known as the demand.…

Q: Explain why it would never be optimal for the monopolist to choose ε^D=1, given positive marginal…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: When Great Britain voted to leave the Eurozone, the pound depreciated 17% against the dollar. It…

A: Market for dollar -

Q: The diagram below shows the supply and demand curves for some product somewhere. price per unit (P)…

A:

Q: 3. Why do economists focus on consumer and producer surplus and not on the possibility of consumer…

A: Consumer surplus is the difference between what the consumer expects to pay and what he actually…

Q: Samson entered into an agreement with "Lovey A & Handsome B Bank" whereby the former shall pay the…

A: When computing total interest on the principle, compounding is a process that is used in which the…

Q: When the quantity of resources for production increases, the production possibility curve Select…

A: Production possibility frontier shows the different combinations of two goods that can be produced…

Q: What is the national unemployment rate? O 3.9% O 6.2% O 10.5% O 59.0%

A: The unemployment rate is the percentage of the total labor force that is unemployed but actively…

Q: Assume the city of Norman is currently comprised of high productivity workers (MPHP = 80) and low…

A: “Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Use the Fed and the banking system T-accounts to describe the effects of a Fed sale of $200 million…

A: The Central bank is the monetary authority of an economy, which is responsible for the monetary…

Q: How does healthcare system in country affect economic development?

A: A health framework, medical care framework, or medical care framework is an association of…

Q: 5-6.      Consider the market represented in the figure below. Calculate total surplus when supply…

A:

Q: If the price of a product was $600, but the supply and demand curves remained unchanged, answer the…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: You are hired by your hometown to study use of public transportation there. When holding everything…

A: The normal good refers to the good which is positively related to the income. While the inferior…

Q: Use the following information to determine the Fed's balance sheet and calculate the Fed's Monetary…

A: Fed is the central bank of the United States. The balance sheet is the financial statement that…

Q: Jamal consumes only two goods: lollipops and chewing gum. He treats these two goods as perfect…

A: Given that, Price of Chewing gum = $2.50 Price of Lollipop = $ 6.25 Decrease price in Chewing gum =…