When calculating GDP which of the following is an example of a final good or service?           A. Vegetables bought by a restaurant owner from a wholesale food distributor.       B. Paint purchased by  Toyota to paint their new fleets.       C. Jet fuel bought by American airlines to power its fleet of airplanes   D. A Yale student buys a new Economics textbook.

Q: Suppose all firms in a competitive industry are operating at output levels for which P equals LRAC.…

A: In a competitive market, numerous producers compete to supply the products and services that we, as…

Q: 3. Suppose that initially Px = 2, Py = 8, 1 = 96 and the Marshallian demand function for %3D %3D %3D…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: Use the figure below to answer the following question.   If the output level is Q1, then deadweight…

A: Deadweight loss is the decrease in total surplus when socially efficient quantity is not produced.

Q: George Soros famously bet against the pound in 1992 reportedly earning $1bil in profit. He has since…

A: Soros refers to his theory as the "reflexivity hypothesis." It is based on the premise that price…

Q: Consider the Ramsey Model of the macroeconomy. Explain using a phase diagram how an economy starting…

A: The Ramsey-Cass-Koopmans model, sometimes referred to as the Ramsey growth model, is a neoclassical…

Q: Suppose that, instead of one man and one woman, the market for this microwave consisted entirely of…

A: The correct answer is given in the second step.

Q: What factors determine a country’s level of trade? What is the difference between the balance of…

A: A country's balance of trade is an important component of its balance of payments and a key…

Q: Reference the cash flows shown below. Pick the best alternative using the ERR method. MARR = 15%. e=…

A: The Economic Rate of Return is defined as the rate calculated from the Cashflow of an investment,…

Q: The following is a total-product schedule for a resource. Assume that the quantities of other…

A: Total product is the total output produced using factots of production or resources. Labor, capital…

Q: Number Of Output Workers 1 50 2. 110 3. 300 4 450 590 665 700 725 710 10 705 According to the above…

A: Diminishing returns is that point where Marginal output start decline as input level increases…

Q: Assume Figure 2 represents the private marginal costs and benefits of Producing one ton of Steel.…

A: Equilibrium in the market occurs at the intersection of mr and mc curves.

Q: (a) Reference the cash flows shown below. Pick the best alternative using the ERR method. MARR =…

A: The economic rate of return (ERR) is a simple rate determined from an investment's cash flow that…

Q: Graphically analyze the effect that a revenue neutral carbon tax has on the consumption of carbon…

A: A carbon tax program that is viewed as unfair has a lower chance of passing and staying in place.…

Q: 1. Assume a neo-classical aggregate supply model with both long run and short run aggregate supply…

A: Aggregate demand is defined as the total demand of all final commodities and services at a given…

Q: 2. Competition vs. Monopoly II: The Monopoly Widget Firm 20 30 40 60 Next, suppose that the industry…

A:

Q: Explain the Clayton Antitrust Act (1914).

A: The Clayton Antitrust Act was enacted in the year 1914 i.e. more than 100 years ago.

Q: 1. A firm must decide between two silicon layer chip designs from Intel. Their effective income tax…

A:

Q: Monopoly Product: Daktronics Scoreboar For the given graph: • Shade the area for TR* on graph.…

A: Below is the curve showing the TR area in green colour.

Q: True or False: Heteroskedasticity biases our estimates

A: Heteroskedasticity occurs when the standard deviation of an explanatory variable is nonconstant. It…

Q: Consumers read positive economic news and then expect strong future economic growth

A: In this scenario the consumer spending increases, which helps the economy maintain its boom.

Q: (a) Why does an 'external social cost' lead to inefficient overproduction? (b) The table below…

A:

Q: What happens in the AD-AS model when the Federal Reserve buys government securities?

A: Federal reserve is responsible for conducting monetary policy in an  economy. Open market operation…

Q: How would you classify the market structure for Food Network’sofferings (both content and tangible…

A: Market structure describes how various industries are classified and differentiated based on the…

Q: Increases in nonwage income: Select all that apply (can be more than one answer) o are shown as a…

A: Nonwage income is the income that a person get apart from his/her salary like incentives, disability…

Q: Among single non-college-educated women aged 30 – 40, average hours worked per week is 30 and the…

A: The elasticity of labor supply = Percent change in the amount of labor supplied / Percent change in…

Q: Price Level ILL eakt reincorporating romaine lettuce into their diets, even after the FDA deems its…

A: Aggregate demand is sum the sum of consumption, investment, government spending and net exports in…

Q: (a) By constructing best response functions, find all pure and mixed strategy Nash equi- libria for…

A: Nash Equilibrium is the method used to define the solution for a non cooperative game where each…

Q: The idea that an increase in a tax rate generates a reduction in the tax base that makes the net…

A: Imposition of tax on a good generates tax revenue for the government

Q: List down at least 5 examples of the following: Security Regionalism Economic regionalism Political…

A: Security, economic and political regionalism are institutional arrangements designed for effective…

Q: Which rules are followed to be a successful entrepreneur?

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: or expenses (and thus savings) are projected to increase at a rate of 7% per year after th ting…

A: *Answer:

Q: The firm utilizes resources so that the marginal product per dollar spent is equal for all…

A:

Q: 1) Utku's company is monopoly in the oil market. Demand equation in this market is given as: Q = 100…

A: A monopoly is a dominant position of an industry or a sector by one company, to the point of…

Q: Consider the cash flow amounts, shown below, for a certain public project. Find the conventional…

A: The benefit-cost ratio (BCR) is a cost-benefit analysis ratio that summarizes the overall connection…

Q: Costs and Revenue MC ATC AVC Quantity Discuss the firm plotted on the figure. What type of firm do…

A: Under a perfectly competitive market, firms sell goods that are identical. There are a large number…

Q: year for repairs, adjustments, and shutdowns. A new mac omplish the functions desired and has an…

A: *Answer:  Solution :   Old Machine New Machine Cost           2,000…

Q: What would be the equilibrium quantity produced by this firm at price = 25? а) 9 b) 23 c) 14 d) 20…

A: Every firm in the market operates with the goal of profit maximization.

Q: Joan rents ovens at a local shared commercial kitchen to make cakes. The table below shows the…

A: Since price is constant, the market is competitive. Marginal product refers to change in total…

Q: The following Figure 1 is an edited version of an image discussed during the course. Use it to…

A: Balance of Payment  Balance of Payment is a statement of a country that shows the Inflow and Outflow…

Q: Question 10 Cohn and Sitwell, Inc., is considering manufacturing special drill bits and other…

A: according to the question, The staff believes that an average return on equities "in general" of 18…

Q: At P = 25, this firm's total profit will be:     a) – $202.5     b) $0     c) $184     d) $7…

A: Total profit is the difference between total revenue and total cost.

Q: An Engineer has acquired a dump truck for Php 750,000. It is expected that the new truck will…

A: Annual worth or AW is referred to as the easy way of understanding the annual amount, for instance,…

Q: Using aggregate supply and demand curves illustrate the different effects on output of demand-pull…

A: * ANSWER :-    Aggregate supply refers to the cumulative quantity of a firm's production and…

Q: Explain the international stage in four stages of globalization and give some examples.

A: Globalization refers to to the inevitability integration of markets, individual nations, and…

Q: State whether each of the statements is TRUE or FALSE, and with one or more sentences and (if…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: A bulldozer was bought for ₱ 0.50M and have an estimated useful life of 10 years after which it will…

A: A capitalized cost is an price delivered to the value foundation of a set asset on a company's…

Q: Read parts (i) to (iii) before answering. Answer all three parts on a single diagram. Assume that…

A: Philips curve shows the relationship between inflation and unemployment rate in an economy. There is…

Q: Relationship of globalization and the contemporary world.

A: Globalization Globalization can be depicted as an interaction by which individuals of the world are…

Q: 1. Assume a neo-classical aggregate supply model with both long run and short run aggregate supply…

A: Short-run refers to the time period in which the producers don't have enough time to change all the…

Q: Consider the Ramsey Model of the macroeconomy. Explain using a phase diagram how an economy starting…

A: The Ramsey-Cass-Koopmans model, sometimes known as the Ramsey growth model, is a neoclassical growth…