What is the tragedy of the commons? Explain how this concept might apply to an unregulated industry that is a source of water pollution.

Q: In 2002, a meeting is hold in a state-owned farm with one million mu of arable land—B farm after the...

A: Managerial economics is a branch of economics concerned with the use of economic methods in manageri...

Q: A consumer has income of $3,000. Wine costs $3 per glass, and cheese costs $6 per pound. Make a grap...

A: Budget constraint is the boundary of the opportunity set-all plausible combinations of goods a consu...

Q: The minimum wage has its greatest impact on the market for teenage labor. Oa. True Ob. False

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor employe...

Q: Assume that the peanut butter demand function is p = 2,000 0.5q, | calculate the elasticity of deman...

A: Answer: Given, Demand function: p=2,000-0.5qPrice=P300.00At p=300, the quantity will be as given bel...

Q: Some economists believe that new videogames have made leisure time a lot more fun. What might this d...

A: Answer: If the videogames have made leisure time more fun then young people will decrease their work...

Q: dentify the effect of recession in the economy on either demand or supply curve and the equilibruim ...

A: A recession is a situation where economic activities taking place in a country decreases and causes ...

Q: Which of the following is not an indicator of Globalization Opening the economy for unrestricted imp...

A: When talking about globalization, it can be said that it is the important part of an economy as it c...

Q: Description of the event of fresh milk in a company: Elasticity and Its Application - Determine el...

A: The measure that depicts the change in quantity being demanded of a good with respect to the change ...

Q: discuss double taxation that is good for 2 minutes.

A:

Q: Supply Price $80 $40 320 Quantity Supplied Producer surplus in the figure above is equal to (market ...

A: Given market price = 80 $ Quantity traded = 320 units Minimum price of supplier = 40    

Q: In the Cournot model the final level of output is the output that would be produced if the industry ...

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

Q: QUESTION 36 The phenomenon that occurs when high-cost domestic producers are replaced by low-cost pr...

A: Trade is defined as the exchange of commodities and services across the boundary of the country.

Q: Last year, 1000 gallons of almond milk (a non-dairy product) were sold at a price of $10. Yet, this ...

A:   When almond milk “a non dairy product” harvest has been destroyed in California, it resulted in su...

Q: How many times greater was the GDP in 2004 than in 1950? By how many times did the GPI increase betw...

A: In comparison to 1950, the GDP in 2004 was 3.42 times higher. From 1950 to 2004, the GPI climbed by ...

Q: Which European institution is responsible for proposing EU egislation, implementing it, and monitori...

A: European institutions consist of 7 decision-making bodies.  

Q: There are many ways to define and measure the benefits and costs that go into the GPI. How do you th...

A: A biocentrist considers the whole influence of actions on living creatures, both human and nonhuman....

Q: If intermediate goods and services were included in GDP: al the GDP would then have to be deflated f...

A: The economics as a study is based upon the idea that the resources which are available with the econ...

Q: In the foreign exchange market, an increase in the U.S. interest rate leads to in the exchange rate ...

A: In the foreign exchange market , an increase in U.S. interest rate leads to rise in exchange rate be...

Q: omplete Table 1. Summarize your calculations and use Microsoft Excel. Using Excel, draw one graph sh...

A: Solution(1):- The complete table is as shown below  Output Average Fixed cost Average Variable Co...

Q: Does a firm have the riight to "create" wants and try to persuade consumers to buy goods and service...

A:   Meaning of Consumer Welfare: The term consumer welfare refers to the situation under which an indi...

Q: Suppose there are 95 workers in the economy, with overall labour supply LS=95. The labour demand in ...

A: Given; Labor supply; Ls=95Labor demand in sector A; LDA=118.1-1.7wALabor demand in sector B; LDB=95-...

Q: The gravity model of trade describes an exact physical relationship between trade, distance and size...

A: "The statement is FALSE."

Q: By which principle can the size of a pay-off matrix be reduced? Game Inversion Game Transpose Domina...

A: Sometimes we work in the opposite direction in game theory which means given the agents equilibrium ...

Q: Labor Market:Government raises the minimum wage from $8/hour to $12/hour; the current wage is $10/ho...

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor employe...

Q: Suppose the price reaction function for Mars' chocolate bars is Pm = (Vm+cm)/2)+0.5Ph, where Pm is t...

A: Price reaction function for Mars chocolate is:- Pm = (Vm +Cm)/2) + 0.5Ph Price reaction function for...

Q: Demand for intermediate consumption arises in

A: To find : What is reason to rise for demand intermediate consumption. 

Q: Depreciation is the additional capital stock in a year. the amount of decline in business inver the ...

A: Depreciation refers to a process of asset valuation and due to depreciation, the revenue produced by...

Q: a. If the GDP deflator is 125 in a country whose real GDP is calculated as 400 billion TL in 2019, w...

A: a) According to the question, GDP deflator in year 2019 is 125, real GDP in year 2019=400 billion TL...

Q: na given market the equilibrium quantity increased, yet the price remained the same. Which of the fo...

A: Eqm(equilibrium) is the market is determined by the intersection of dd(demand) and ss(supply) curves...

Q: In the context of regional trade integration, concern about arise because close economic integration...

A: There are different types of integration present, economic integration is of three types: 1-Free tra...

Q: • Please explain the difference between the short run and long run equilibrium under a per- fectly c...

A: Perfect competition is the market structure which is characterized by a large number of firms with n...

Q: If the Fed tries to prevent the U.S. dollar exchange rate from rising, the Fed U.S. dollars, foreign...

A: In the United States, US government can influence the exchange rate by making changes in the supply ...

Q: 8. Consider a 10 year 6.50% annual coupon bond whose duration is 7.50 years when required rate of re...

A: Let the par value be 100 Purchase price of bond = 6.5/0.065*(1-1/1.065^10)+100/1.065^10 = 96.94 Let ...

Q: Suppose the model of interest is Y, A+ BXu+ BX2 + u, where E(uX)-0 and E(u X)= a? and X1 and X2 are ...

A: The coefficient estimates will be the same, but the standard error will be smaller in multivariate r...

Q: 43. If income elasticity for a good is 2, then it is a A. Necessity item B. O Inferior good C. O Lux...

A: Elasticity of demand is used to assess the change in quantity demanded as a result of changes in dem...

Q: Consider a simple Keynesian income-spending model of an economy described by the following equations...

A: In a Keynesian income-spending model, the equilibrium is determined where: Aggregate Expenditure= Ag...

Q: 19. Recall the following public goods game from the class, where two roommates are trying to figure ...

A: Given information 2 players 2 strategy set for each  

Q: There is a one-period supply shock where o = 0.10. Assume inflationary expectations are adaptive so ...

A: O = 0.10πe = πt-1 After the supply shock,O = 0

Q: What is the smallest integer-valued annual compound interest that will result in an investment tripl...

A: smallest integer-valued annual compound interest that will result in an investmeñt tripling in value...

Q: Which of the following countries is both a member of the EU put has not yet joined the Euro and Euro...

A: By unique monetary agreements with the EU, Andorra, Monaco, San Marino, and the Vatican City have em...

Q: Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a pa...

A: Here, the given information explains the nature of the manufacturer to set the price of exercise equ...

Q: • Engr. Odon is paying a loan five thousand pesos 1% quarterly for 3 years. If the payment is to sta...

A: We have: loan payment = 5,000 pesos Time (n) = 3 years Interest rate = 1%   

Q: equilibrium price wil fell and equibrum quantity will ise

A:

Q: Suppose Bilbo Baggins is deciding on whether to buy a sword or a bag of golden cups. If he has a uti...

A:

Q: If a company believed that a nation was preparing to devalue its currency, the company should reduce...

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: economics, money refers to wealth income currency assets used and accepted as payment.

A: Money consider as a medium of trade, as a store of significant value, and as a unit of record. Mode ...

Q: will be the market price? If both firms collude and share the output equally, what is the revenue to...

A: Assuming two firms are there X and Y , production happens only with fixed cost and both the firm pro...

Q: Identify the NonPrice determinants of demand in the dentistry field business (per factor) In the ave...

A: Determinants of Demand: Determinants of Demand are the factors that together contribute to the consu...

Q: Read the statements VERY carefully! Which of the following statements is true? According to Okun's l...

A: When product is put into the production process, cost  such as fixed and variable cost would be requ...

Q: Please explain why the marginal cost decreases first and then increases in your own words. Please pr...

A: Marginal cost is the cost of producing an additional unit of goods. It is a U-shaped curve. Initiall...