What type of economists believe that markets naturally self-correct, and will reward good strategies and punish bad ones?

Q: The incidence of a tax: - refers to who writes the check to the government.   - is a measure of the...

A: In Economics, incidence of tax explains which party ultimately bears the burden of tax. It expalins ...

Q: Define in your own words what is production and what are the factors that enhances the production in...

A: Introduction and definition if production is given below:  

Q: 8. Your cat's summer kitty-cottage needs a new roof. You feel a 15-year analysis period is in line w...

A: Annual Worth (AW) Analysis is characterized as the equivalent uniform annual worth of all assessed r...

Q: 1. Which one is fixed and variable input? Table 4.1 The Use of Labor, Capital, and Related Output Am...

A: 1) Fixed input is when the amount of input remains the same while variable input is when input diffe...

Q: Consider with the cost function producing a single good with the cost function {.. 5, If A = 0 C(A) ...

A: Fixed cost is the cost which doesn't change with the level of output. And sunk cost is the cost whic...

Q: 12. Prove, using Eq. (4-42), that the long-run supply curve of a competitive firm is more elastic th...

A: Introduction Long run supply curve is more elastic because we have enough time for doing adjustments...

Q: 2. How long will it take $500 to reach $10,000 when it grows at 8 percent per year?

A: Here the future worth of amount is already given and the initial investment which will grows 8% per ...

Q: Parker Hannifin of Cleveland, Ohio, manufactures CNG fuel dispensers. It needs replacement equipment...

A: Let's calculate future worth one by one and see which alternative is best:- Future worth of D:- FW(D...

Q: Pork belly strips and lettuce are complementary goods because most of the time they are enjoyed toge...

A: As we know that complementary goods have a negative relationship between the price of one good and t...

Q: In 2016, NY had a population of 14,398,000 and a total workforce of 9,100,000. At the time, there we...

A: The labor force participation rate is a measure used to assess the working-age population of a count...

Q: The table below shows aggregate values for an economy where real GDP equals potent output. Potential...

A: Saving = Private saving +Public Saving. Private saving = GDP -Taxes -Consumption. Public saving = Ta...

Q: 1. On the graph below, show a price ceilling at $3. a. Illustrate and identify the resulting XS supp...

A: "As per the guidelines answer is given to the first question" 1) "Price ceiling is a limit on price ...

Q: A dam will have a first cost of Php 50,000,000 an annual maintenance cost of Php 250,000 and minor r...

A: A capitalized cost is an item that is added to the cost base of a fixed asset on a company's balance...

Q: Use the following graph of the market for cases of beer to answer the questions that follow. (Note: ...

A: (A) The imposition of tax increases the cost of production and shift supply curve to the left.   Th...

Q: A. What is the equilibrium wage for retail associates? How many associates are employed at the equil...

A: The quantity of labor that employers seek to hire at a given wage rate during a given span of time i...

Q: 1.2 When Acme Dynamite produces 200 units of output, its variable cost is S3,000, and its fixed cost...

A: Variable costs change based on the amount of output produced. Variable costs may include labor, comm...

Q: 1. Explain the importance of Sovereignty in a State. 2. Discuss the necessity of the Government in a...

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

Q: How much would be in your account in 10 years after depositing $2000 now? The annual interest rate i...

A: Answer -1  According to the question, we need to calculate future value.  Present value (PV) = $2000...

Q: Draw the cash flow diagram for each of the following situations. (a) Today, you invest P100,000 into...

A: Given information Initial investment=P100000 3 years later invested 50,000 in the same fund 2 years ...

Q: Comparative statics in the steady-state: draw a new version of the graph from the previous question....

A: Solow model ensures steady growth in the long run period without any pitfalls. It is also known as t...

Q: In the neoclassical growth model, a ceteris paribus decrease in the population eventually results in...

A: GDP is the sum of all activities happening in the economy. So if population will increase demand for...

Q: The adjustment process for an economy experiencing an inflationary gap involves wages, unit costs an...

A: In the above diagram, an increase in the government purchase leads to a rise in the aggregate demand...

Q: Question 4 A "deterioration of lending practices" occurs when: O lenders require larger down payment...

A: When borrowers are subjected to unfair, deceptive, or abusive loan terms, "predatory lending" is use...

Q: Briefly define the four dimension of globalization.

A: International ties are forged in business, politics, culture, society, and the environment. Analytic...

Q: Course: Microeconomics - Intertemporal Consumption Given the following data: ; where p1 = 10; m1 (in...

A: For intertemporal choice problems firstly we derive the aggregate budget constraint . Budget Constra...

Q: In the basic AD/AS model, a could cause stagflation. a. Widespread outbreak of a serious infectious ...

A: Stagflation is defined as an economy that is suffering both a rise in inflation and a standstill in ...

Q: A monopolist faces the demand curve P=120-3Q. The profit maximizing price is 90. What is the margina...

A: Given  Demand curve: P=120-3Q         .... (1)Profit maximizing price P=90 We have to calculate marg...

Q: .4 (Least squares) UpTop Mining has compiled the following data to analyz costs: onth Machine Hours ...

A: Given data to analyse utility costs :

Q: What were Milton Friedman economic theory’s general principles and who did he advise? Could you also...

A: Milton Friedman was a Nobel Peace Prize winner and an American economist. He created a number of eco...

Q: cross-price elasticities

A: Elaticity shows much demand of a good changes due to change in the price of a good.  

Q: 2b) If the price of the product in a perfectly competitive market increases what happens to the leve...

A: The 'available market,' or that of all the individuals in the area, is referred to as a market. The'...

Q: Suppose the competitive tablet market is in long-run equilibrium. If at this equilibrium, the typica...

A: Average total cost = Total cost / Quantity of output  

Q: Explain what the theory of money is in words and mathematical expressions, and then relate this prop...

A: The quantity theory of money holds that price changes are related to changes in the money supply. It...

Q: What is a SIF?

A: A SIF is a form of Security investment fund that can invest in a variety of assets. It normally qual...

Q: when studying the in formation related to Al- Kufa factory itis explained that selling price for one...

A: Price = 200 Variable Cost = 150 Fixed Cost = 48 million = 48000000 TC = 150Q + 48000000 TR = 200Q So...

Q: ne present value of a three-year bond with a face value of $10 000, a coupon paymer ercent made at t...

A: The bond provides the fixed income at the end of year and on maturity, the fixed interest rate and f...

Q: d. Suppose that changes in the bank regulations expand the availability of credit cards so that peop...

A: Demand for money refers to the desire for holding financial assets such as cash, banks deposits, etc...

Q: Consider a town in which only two residents, Gilberto and Juanita, own wells that produce water safe...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: From Adam Smith's Wealth of Nation , What is the “great enemy” of the economy (hint: not government)...

A: In the wealth of nation, Adam Smith says that free market forces produce the maximum or optimal resu...

Q: Question 7 The fact that in the USA, a municipal bond could have a lower yield compared to federal g...

A: In the US economy, there are different types of bonds exchanged by the people in the market based on...

Q: 10.4 (LG 10.4) The following data are available for two mutually exclusive projects: Project A Proje...

A:

Q: TRUE or FALSE. If the statement is correct, write TRUE on your answer sheet. If the statement is inc...

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

Q: What are the similarities and superiority of the indifference curve technique?

A:

Q: c. Which of the following situations in c (i) & c (ii) represent investment? Saving? Explain (i) You...

A: Saving: This defines that when a person's income exceeds his consumption is called savings which mea...

Q: Description Throughout this Quiz, we will consider of an industry with either one or two firms in it...

A: Considering both firms to be profit maximizing: IN case of bertrand competition where firms charge p...

Q: When the pharmaceutical companies began advertising directly to consumers, it was an example of The ...

A: The answer is as follow 

Q: Suppose you are interested in studying the effect of education on wages (controlling for IQ and pare...

A: wagei=β0+β1educi+β2IQi+β3ParInci+∈i Education (educ) = in years Weekly wages (wage) = in $ Intellige...

Q: 2. Consider a competitive market where there are two types of firms, Type A and Type B, with total c...

A: TCA (q) =  2+4q+2q2 TCB (q) =  3+3q+3/2q2    

Q: Cartels have a difficult time maintaining their output agreements because an individual firm has an ...

A: Oligopoly: It is a market where there will be only some sellers and a large number of buyers availab...

Q: In country Superland, its real GDP grows by 5% per year and its money stock grows by 12%, the veloci...

A: "According to the quantity theory of money, if velocity of money is constant then inflation rate is ...

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.