What is the difference between (Fair Market Price) and (Current Market Price)?

Q: It is 2020 and the living wage campaign calls for the government to remove height restrictions for…

A: Height restriction laws include the legal regulations that restrict the maximum height of the…

Q: The following equations represent the quantity demanded (Qd) and the quantity supplied (Qs) for…

A: A price ceiling is the established upper limit on what a seller is allowed to charge for an item or…

Q: 36. What is substitution effect an income increase leading to the outward budget line and IC price…

A: Q36) The correct answer is OPTION B  Whenever the price of a good changes then the relative price…

Q: What does the rise of alternative products like Puff Bar tell you about the overall role of market…

A: Electronic cigarettes (e-cigarettes) extend the market to smoking as well as non-smoking men, women,…

Q: a Draw the production possibilities frontier on a scale diagram, with the production of X on the…

A: The production possibilities frontier of good x and good y is a graph representing all possible…

Q: A consumer has preferences over 3 goods represented by the utility function u(x₁, x2, x3) =…

A: u(x1,x2,x3) = (x1x2 )0.5- 2-x3    Good 1 and 2 are perfectly divisible and Good 3 are invisible and…

Q: The demand for pineapples takes the following form: Q=10-3p. What is the own-price elasticity of…

A: The relationship between the percentage change in a product's quantity demanded and the percentage…

Q: 2. Assume that a firm has the following production function; q = L0.5K0.5. Its capital is fixed at K…

A: Fixed cost does not change and does not depend on production. Variable cost increases with increase…

Q: 2. Given the utility function U = x0.5y0.5 calculate the utility of consuming bundle z:[25,49].…

A: Marginal rate of substitution is equal to the ratio of marginal utility of good 1 with respect to…

Q: 8. Suppose a multiproduct monopolist faces the following demand functions: P₁ = 55-Y₁-Y₂ P₂ =…

A:

Q: Extensions Help Arial Y 1 Last edit was seconds ago 11 + BI UA 2 1 3 GO 4 T LA 5 FI 1. What are 2…

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

Q: Production. Assume a production with two variable inputs (L, K). Show graphically the following and…

A: The link between the quantities of productive factors (such as labor and capital) employed and the…

Q: A company produces a special new type of TV. The company has fixed costs of $467,000, and it costs…

A: Total revenue is the total amount of deals of goods and services. It is determined by multiplying…

Q: QUESTION 1 Supply curve shifters are: O Input prices, expectations, number of buyers, and…

A: Supply shifters are the factors that shift the supply curve either to the left or to the right.

Q: Why are all goods and services scarce? * Some goods cost more than others. Some people want to have…

A: Scarcity is a very serious economic problem which determines the goods and services produced in the…

Q: Your beginning salary is $80,000. You deposit 10% each year in a savings account that earns 7%…

A: The value in Year-1 dollars means the computations of the present worth. To compute it determine the…

Q: A monopolist is producing at a quantity of 13,678 units where the marginal revenue of the last unit…

A: Here, it is given that a monopolist is able to sell 13,678 units with MR from last unit as $2,386…

Q: A consumer has preferences over two goods represented by the utility function (1₁,1₂)= 71 +2√72. (a)…

A:

Q: A firm has the following revenue and cost functions.         TR = 90 Q – Q2                  TC…

A: TR = 90 Q – Q2 TC = 2Q 2+ 30 Q

Q: 10) The llowing graph shows the rect or a per O $150 thousand O $3,000 thousand O $6,000 thousand…

A: A deadweight loss is the price of market inefficiency, which occurs when supply and demand are out…

Q: Suppose the graph below shows Gilligan's daily production possibilities curve for coconuts and fish.…

A: Production possibilities curve shows different combinations of two goods that can be produced with…

Q: When the income elasticity of demand is negative then products are normal. True O False

A: Income elasticity is the ratio of the percentage change in quantity demanded with the percentage…

Q: explain why pink tax meets the conditions for price discrimination.

A: Price discrimination is a marketing tactic employed by monopoly businesses in which they charge…

Q: Assume the utility Janet obtains from consuming apples is given in table below. Number of Apples…

A: Total utility refers to an aggregate amount of satisfaction that is received by the consumer through…

Q: Consider the following figure: monopsony.PDF. A monopsonist will charge ✓and purchase In a perfectly…

A: Monopsony In a monopsony, a single buyer dominates the marketplace as the primary consumer of the…

Q: Why is there a need to regulate Investment banks?

A: We can say, Investment banks are companies or corporate divisions that functions as an advisory in…

Q: Use the principle of rational choice to determine which one to choose: a) Paying for Squid Game from…

A: Rational choice theory refers to the theory that individuals depend on rational calculations to make…

Q: With the same production function, move the points to graph the marginal product of labor. Marginal…

A: Given  Quantity of workers (L) Quantity of bricks (thousands of bricks)  0 0 1 10 2 18 3…

Q: Each day, Ted can wax 6 cars or wash 12 cars, and Ishana can wax 3 cars or wash 9 cars. What is each…

A: Comparative advantage is the ability of the country or individual to produce the good at a lower…

Q: The compound interest on a certain sum of money at 25% for 3 years is Php 47,656.25. Its simple…

A: Here we will first figure out the principle value using the future value formula in case of compound…

Q: 4. A significant advantage of using a standardized strategy for all of a firm's markets is A…

A: Product adaptation implies that the firm adapts the product to the local markets. It is the…

Q: 1. An analyst ran a regression with four predictor variables. Variable description Salary in…

A: Regression analysis refers to the prediction of the dependent variable by the independent variable.…

Q: Suppose the market demand for a product is Q(P) = 120 – P. There are no fixed costs of operating in…

A: Cartel is the market situation when firms in the market act as an monopoly firm in order to maximize…

Q: Suppose the price of cauliflower increases by 16.53%. If consumers buy 3.28% less cauliflower after…

A: Total revenue is the product of price and quantity demanded.

Q: Which of the following is not a market structure? 4 Select one: O a. Perfect competition. O b. All…

A: Market structure alludes to how different enterprises are ordered and separated as per their…

Q: Is the pareto principle generally accepted as true or accurate? Or is it considered not true?

A: The Pareto principle, named after economic specialist Vilfredo Pareto, indicates that 80% of…

Q: The fisher equation states that, approximately, Select one: O a. the nominal interest rate is equal…

A: A measure of the economy's rate of rising prices for goods and services is called inflation. In the…

Q: Compute for the effective interest rate every 3 months Nominal rate = 17.02% compounded…

A: An interest rate takes 2 types: nominal interest rate and effective interest rate. The nominal…

Q: Compute for the effective interest rate every 3 months of the nominal rate us 16.66% compounded…

A: The effective interest is generally higher than the nominal rate because it will be calculated with…

Q: Food Goblin Supermarkets use both cashiers and baggers to serve customers at check out. During the…

A: As a result, a different method, commonly referred to as the "economic" utilization rate, involves…

Q: ordan usually pays a price between $14 and $20 per kilogram of sugar. His  monthly total expenditure…

A: Elasticity refers to the degree of responsiveness of quantity demanded or quantity supplied to one…

Q: If cheesecake is a normal good, then which of the following could be the value of income elasticity?…

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

Q: Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a…

A:

Q: What determines the price of a product in a free market? O The government. O Me. The interaction…

A: A Free Market is defined as a market where the exchange between goods and services depends on the…

Q: d) What is the value of the risk premium for the SAFE investment? Show and explain your work and…

A: Since you need a solution for parts d and e so I assume that answers to the first three-part are…

Q: 28. Using elasticity to choose policy options, what is true for illegal drug reduction policy…

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

Q: 15. All else equal, a decrease in reserve requirements will cause a.state and local government…

A: All else equal, a decrease in reserve requirements will cause.

Q: In the graph below, assume that the original demand and supply curves are given by D₁ and S,…

A: Equilibrium is a state of rest in the market where the forces are in a steady state and do not…

Q: ME alternatives, which machine should be selected based on the PW analysis. MARR-10% First cost, $…

A: the minimum acceptable rate of return, is the lowest rate of return that the project must earn in…

Q: 5. Consider the following demand function: Q₂ = 150-2P. a. Calculate the price elasticity of demand…

A: Price elasticity of demand is defined as the percentage change in the quantity demanded for a good…