When examining the costs faced by a business, explain how economists distinguish between the short run and the long run. Why is it that Diminishing Marginal Product applies in the short run but not the long run?

Q: A machine cost P480, 000 and has a salvage value of 10% of its cost at the end of its life of 30,000...

A: 1. 1. Book Value=P-tP-SLtWhere,P= Initial ccost S=Salvage valueLt=Lifetime of the assett=timeHere,P=...

Q: 1. Knights on a Line: Three feudal lords are vying for control of a piece of territory in the shape ...

A: Introduction Pure strategy means in a game there are more than one players getting higher payoff sim...

Q: Frank Baum wrote the Wizard of Oz in favor of O eliminating gold as a commodity that backed money to...

A: The Wizard of Oz includes interpretations of L. Frank Baum's contemporary fairy tale (originally pub...

Q: Consider a monopoly with the following marginal cost and demand curves: MC=2Q+200,p=2,600−2Q d. Do ...

A: Monopoly is the single seller in the market, Monopoly price and quantity are determined when margina...

Q: Suppose that there are 40 firms in a market, each with the following cost function: C(q) = 44 + 3q²....

A: Given: C(q)=44+3Q^2 D(p)=1260-25p

Q: How much would the firm’s revenue change if it lowered price from $12 to $10? Is demand elastic or i...

A: Demand curve shows an inverse relationship between price and quantity demanded. Elasticity measures ...

Q: Write a critique of the export base theory

A: Export Base Theory According to the export base theory, external demand for export industries' produ...

Q: Which of the following is true (M = Money supply, cu = currency - deposit ratio, res = reserve - dep...

A: The money multiplier formula is given by: (1+cu)/(cu+res)  

Q: QUESTION 3 3A. Construct a market for cotton imported into the U.S. with an equilibrium price of $1/...

A: It refers to a scenario in which the quantity demanded of a commodity is equal to the quantity suppl...

Q: As the marginal physical product of a variable input increases, the marginal cost decreases. a. tru...

A: The cost of one additional unit of output is known as marginal cost. The concept is used to determin...

Q: 5. Give an example of a scenario where principal agent problem exists.

A: Asymmetric information occurs when there is unequal information between two parties. In this situati...

Q: d) If trade is allowed so that the market price for strawberries is $20/box, calculate producer surp...

A: Since you have posted a multi-part question, I hereby provide you with the solution to parts a, d an...

Q: A committee of 4 people is to be appointed from 3 officers of the production department, 4 officers ...

A:

Q: Which factor can cause a shift in supply? O demand increases and competition decreases O demand decr...

A: Demand and supply are two invisible forces important in microeconomics. Law of demand states that, w...

Q: In general, different jobs pay different wages. One overarching reason is that different jobs have d...

A: A wage is pay paid to representatives for work for an organization during a timeframe. Wages are gen...

Q: of a given activity. c) Economists refer to the revenue collected as a result of a tax as the burden...

A: In an economy, economists think that there are different types of tax burden when government imposes...

Q: How does the grant system try to ensure accountability to make sure that funding is being used prope...

A: The term "accountability" refers to a company's responsibility to a third party.It refers to a perso...

Q: annual benefits from the company a revenue?

A: Revenue refers to the entire amount of money earned through the sale of goods and services related t...

Q: Your NGO is considering supporting two independent public sector opportunities. There are sufficient...

A: Investing can be a decent in stock market. The greater part of the Americans they save their abundan...

Q: When the Federal government takes action to change taxes and spending to stimulate the economy such ...

A: Federal government can increase or decrease taxes and government spending to change the money supply...

Q: Given the Production Function: q = B,Z, + B2Z2 +B,Z? + B,Z} + BzZ;Zz (a) Find input demand functions...

A: Introduction Given production function: q = β1 Z1 + β2Z2 + β3 Z12 + β4 Z22 + β5 Z1 Z2 Profit = P q -...

Q: ISR (intelligence, Surveillance & Reconnaissance) is performed by fixed-wing aircraft (still Auroran...

A:

Q: 1. The technology of interaction for a contractual relationship is given by the matrix below. 2 H L ...

A:

Q: Suppose in 2016, the cost of a market basket of goods was $1,990. In 2018, the cost of the same mark...

A: Here, given information is: Cost of basket of goods in 2016 was: $1,990 Cost of basket of goods in ...

Q: 13 Experience curve Which phenomenon is illustrated by the experience curve? O businesses become les...

A: In economics, experience curve is the curve used to explain the economic relationship between total ...

Q: A number of particular articles has been classified according to their weights. After drying for two...

A:

Q: Question:What market structure has a TR that is equal to the 45 degree line? -pure -monopoly -mon...

A: Perfect competition is the market structure where there are many sellers in the market with each sel...

Q: Choose one of the major theories associated with consequentialism: what objections might be made to ...

A: Concept Consequentialism is a moral concept that uses the effects of an action to determine whether ...

Q: 2. In contrast to strawberries, Canada is a major exporter of wheat. Canada's demand (QPCDN) and sup...

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...

Q: Use the graph to answer the questions below. X2 В (3, 4) A (1, 5) Y2 Y1 C(7, 2) 4. Which point has g...

A: The curves on the graph are isoquants which different combinations of inputs needed to produce a giv...

Q: In the table below, fill in the missing blanks to complete the summary of the effects of changes in ...

A: When the price of a product is low, so is the supply. When the price of a product is high, so does t...

Q: China is the major importer of Canadian wheat. Its demand (QPH) and supply (Q°x) for wheat is given ...

A:

Q: A consultant, after 3 months of work, reported that the modified B/C ratio for a city-owned hospital...

A: Discount rate(i)=5% Time(n)=40 years Initial cost=$2.1 million(i.e 2,100,000) Modified B/C ratio=2 B...

Q: i. Identify and list the macroeconomic problems in this passage ii. Outline the consequences of the ...

A: a) The macroeconomy problems in the given image are: Monetization: Injection of new notes in the ma...

Q: For each of the following production functions Q = f(K,L), find the marginal productivity with respe...

A: The marginal product is calculated by differentiating the production function with respect to partic...

Q: In a series of houses actually invaded by smallpox, 70% of the inhabitants are attacked and 85% have...

A:

Q: a. Calculate the percentage of real income (approximately) in dubai b. Assume that the nominal incom...

A: Given, Change in nominal income = 6.4% Change in price level = 4.2% a) The following expression repr...

Q: uu usores aa itegers) Quantity (Per Week) 15.000 20,000 Total Marginal Revenue Price Marginal Cost R...

A: Marginal revenue is the additional revenue earned from selling an additional unit of output.Marginal...

Q: Explain how the shape of the production-possibility frontier implies increasing costs for the produc...

A: Points Clothing Food A 16 0 B 15 2 C 13 4 D 10 6 E 6 8 F 0 10

Q: Variable Fixed Total Average Average Marginal Quantity Costs Costs Costs Total Costs Variable Costs ...

A: Total revenue = Price*quantity Thus TR(at Q=5) = 30*5 =$ 150

Q: How much money would you have to deposit for 20 consecutive periods starting 1 year from now if you ...

A: Money is the value that is used to buy or sell goods and services in an economy. Money is supplied o...

Q: Suppose a firm produces the following products. Calculate and fil in the missing values in the table...

A: PLEASE FIND THE ANSWER BELOW.

Q: Bill, who is also a passionate angler from Kingston, spends every weekend on Loughborough Lake to fi...

A: We are given that Bill's Utility is a function of his wealth and his original wealth is given to be ...

Q: 1. A municipal police department has decided to acquire an unnamed drone for aerial surveillance of ...

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

Q: 9. Regulating a natural monopoly Consider the local cable company, a natural monopoly. The following...

A: Natural monopoly will boost profits by delivering at the amount where marginal revenue (MR) approach...

Q: monopsony labor market without min. wage monopsony labor market with "optimal" min. wage ME ME P2 Pa...

A: In a monopsony labor market, a sole or dominant employer exists in the labor market. It means the em...

Q: point(s) possible The table has data from the nation of Atlantica. Disposable income (trillions of 2...

A: Here, the given data shows the consumption level at different disposable income in the nation of Atl...

Q: discuss/explain Transformational leadership.

A:   Meaning of Managerial Economics: The term managerial economics refers to the process of a manageme...

Q: Economists use the neoclassical growth model to explain fluctuations in the business cycle because O...

A: Classical growth theory was developed by (mostly British) economists during the Industrial Revolutio...

Q: For all parts of this question, assume that the log of GDP per capita is normally distributed with a...

A: We have  μ=8.7 and σ=1.5 We have to find the percentage of countries having income per capita betwee...