What would happen if the government imposes a price ceiling on oil and gas prices, how would this affect the market in terms of demand and supply? Would this work?

Q: You are running a chocolate factory and need to decide on the price to sell the chocolate as well as...

A: Profit maximiser firms decide to charge price and output determination is set when marginal cost and...

Q: A consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The c...

A:

Q: Which of the following was a way for the Bureau of Labor Statistics to reduce the quality/new good b...

A: When talking about the consumer price index (CPI), it is considered as the inflation measuring tool ...

Q: You are the manager of a firm that uses only labor and capital to produce your product. Assume you h...

A: Optimal input bundle would be when the following condition holds,Marginal product of labor / wage ra...

Q: O Why the financial manager should maximize their wealth?

A: Profit maximization is a point where the marginal revenue(MR) is equal to marginal cost (MC) margina...

Q: Compare and contrast the Bretton Woods system's assumptions with the Washington consensus.

A: Bretton woods system: If we consider the monetary system on the international level then the Bretton...

Q: ume th money velóčitý iš čóńštánt. a. Suppose the money supply increases by 12%. What do you expect ...

A: a). In short-runAssumption: 1) Price level is fixed: 2) aggregate supply curve is flat.In the short ...

Q: 3. In 1986, the CPI stood at 109.6 while in 2016 it stood at 240.0. In 1986, a new Toyota Corolla LE...

A: Consumer price index is the weighted sum of a consumption basket used to gauge inflation rate in the...

Q: Give an example of an Elastic product, what makes it elastic? What can make it become inelastic? Gi...

A: The demand for the product is elastic when the change in quantity demanded of the good is more than ...

Q: Corn is a very valuable product for which the U.S. government routinely offers subsidies. With no pr...

A: The data given is as follows:- Equilibrium price of corn = $300 Equilibrium quantity of corn = 500 m...

Q: The Laspeyres index is the ratio of the price of goods at prices to the price of goods at prices. O ...

A: Laspeyres index refers to the price index of Fixed quantity of goods and services

Q: Three voters vote over two candidates (A and B), and each voter has two pure strategies: vote for A ...

A: Market refers to the place where the demand and supply are equal to each other. It means the slope o...

Q: How do preferences on the available vaccine for COVID19 affect or contribute to microeconomics? Plea...

A: The word "Micro" means "Small" and "Economics" is the subject matter that deals with the economical ...

Q: Assuming that the Consumer Price Index increases from 100 to 120... Group of answer choices Less mon...

A: Consumer price index is a measure to calculate the increase in cost of basket of goods and services.

Q: 33) In a competitive market that is characterized by free entry and exit, what will be the result? ...

A: The market where there tend to exist many producers that tend to compete in order to provide consume...

Q: Which measures the changes in the prices of a "market basket" of some 100 goods produced by typical ...

A: Price index is defined as the average of a price compared to given class of goods and services. They...

Q: Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra ...

A:

Q: TRISTAN WALKER is the founder of Walker & Company, which makes health and beauty products for people...

A: On got some information about the best guidance he at any point got he referenced: Actor and maker T...

Q: Analyse how protectionism can affect consumers in a country

A:   Meaning of Trade: The term trade refers to the situation under which the products and goods are tr...

Q: .If the TE (total expenditure) on Nike shoes decreases when the price of Nike shoes falls, the price...

A: A decrease in the total expenditure when the price of Nike shoes falls, shows the inverse relationsh...

Q: Suppose that you are a bank with the following: • $200 of capital, and $2,000 of deposits. In this e...

A: Require Reserve (7%)  = 7% of Deposit                                     = 0.07 * 2000             ...

Q: Define returns to scale and it's all aspects.

A: Returns to scale Returns to scale refers to the proportionality of changes in output when all inputs...

Q: 18 Calcurate the least square regression líne equation with the given X and Y values. Consider the v...

A: X Y X2 XY 60 3.1 3600 186 61 3.6 3721 219.6 62 3.8 3844 235.6 63 4 3969 252 65 4.1 4225 26...

Q: The management of an electrical store has determined that the market for vacuum cleaners can be desc...

A:

Q: In which economy is GDP per capita higher in steady state? Economy A Economy B O Not enough Informat...

A: The Solow Model of economic growth or the neo classical model of growth This model is also known as ...

Q: Calculate the capitalized cost of an equipment maintained at a rate of 6% every year for P10,000, re...

A: The present value of an item's annual sales over an indefinite period is its capitalization cost.  

Q: 1. What are the 3 components for Economics Efficiency ?

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

Q: Farmer Jones grows apples. The average total cost and marginal cost of growing apples for an individ...

A: A perfectly competitive firm is a price taker as there are many firms producing identical goods  

Q: 3- Given: Y=C+l+G, C=25+0.75Y, I=lo= 50, and G=Go= 25 Find the equilibrium level of income

A: The economies around the globe are involved in various economic and financial activities. The econom...

Q: Suppose that a firm's estimated production Q = K3/4L1/4 What is the marginal rate of technical subst...

A: Marginal rate of technical substitution refers to the ratio of marginal product of labour and margin...

Q: A commercial vehicle is purchased for an acquisition cost of $300,000. The operating and maintenance...

A: Economic life is the life of an asset till the time it can be used.  The EUAC of the defender is gre...

Q: The rate of inflation in Zimbabwe rose in 2018 from 10.6% to 577.21% in 2020.  What was the positive...

A: Inflation shows the increase in price level of goods and services in an economy.

Q: A firm pays $500,000 per year on costs that it cannot alter in the short run. This year, it expects ...

A: Cost Cost refers to any expense that incur in the process of production. Total cost is made up of tw...

Q: A consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The c...

A: Utility function : U(x1 , x2 ) = (xp1 1+xp2)1/p  Budget Constraint : p1x1 + p2x2 = m  Firstly we der...

Q: What is the meaning of Public-Private Partnership as a policy strategy of the government for service...

A: Public sector refers to that portion of the economy which consists of levels of government and the e...

Q: A company in the process industry produces a chemical compound that is sold to manufacturers for use...

A:

Q: 1. Why do employers typically pay for specific skills? These skills only work with one employer, thu...

A: Specific skill can be the ability of a person to do something that others are not able to do.

Q: An investor has decided to commit no more than $80,000 to the purchase of the common stocks of two c...

A: The optimal price is the one that maximises the seller's overall profit. When a price is set too low...

Q: Which of the following DOES NOT agree with the definition/description of Benefit-Cost ratio? A. Bene...

A: The benefit-Cost ratio is a method to analyse the economic worthiness of a project. It compares the ...

Q: The autonomous savings level is -300, if the income increases to 500, the level of consumption will ...

A: Autonomous saving= -300 Income=500 Consumption= 700  

Q: 1st attempt The table below provides information on the growth in the money supply (M), velocity (V)...

A: Given: Country A: % change in M=6.50 % change in P=5.50

Q: A country puts in a quota limitation on the importation of cherries into their country. Cherries imp...

A: Here, it is given that the government imposed quota on the importation of cherry in the country, whi...

Q: or the cash flow revenues shown below, find the value of G that makes the equivalent annual worth in...

A: Given: Annual equivalent worth=$500 Interest rate (i)=10% per year Gradient=G Number of years(n)=7

Q: Name some of the services, if any, you produced at home that do get counted in GDP. Are there any go...

A: In an economy, GDP is used as an economic tool to measure the national income in terms of goods and ...

Q: The price of long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per m...

A: The data given is:- Nominal price in 1996 = 40 cents   Nominal price in 1999 = 22 cents  

Q: We estimate the following regression: y = Bo + B1¤1 + B2x2 + B3r3 + B44 +u using a sample of 85 obse...

A: We have given a regression equation in which 4 independent variables.  Sample size =85 SSE ( Estimat...

Q: State whether each item below would be included or excluded from the me explain why. OT GDP and expl...

A: The gross domestic product (GDP) is the aggregate value of goods and services produced in the domest...

Q: What is the difference between original works and derivative works?

A: In economics, the terms original work and derivative work can be used to explain the source of data ...

Q: Suppose a nation’s firms make heavy use of factors of production owned by residents of foreign count...

A: GDP refers to the money value of all final goods and services that are produced within the country d...

Q: If you are asked to perform an incremental ROR analysis for the two robots listed below, how would y...

A: The analysis of financial return where there are two opportunities for investment that involve diffe...