Why is the lifetime distribution of income more equal than the distribution in any specific year?

Q: Given production function: Q = L 3/4 . K1/4 Find out the optimal quantities of the two factors using...

A: The process of Lagrange multipliers is a technique for determining the local maximum and minimum of ...

Q: Confronted with the same unit cost data, a monopolistic producer will charge

A: A monopolist charge a higher price when confronted with the same unit cost data and produces a small...

Q: Price Quantity Total Cost 2,000 1 1,600 1,800 2 1,800 1,600 3 2,000   What would be the pro...

A: Profit refers to the defrence of total revenue and total cost of the product. Profit describes the f...

Q: The table shows total production of a firm. If units of labour (L) increase, find below.            ...

A: We use the following formulas, Marginal product = Current total product - Previous total product Ave...

Q: The market demand is P 18-1.5Q. so the marginal revenue is MR 18-3Q. Also, assume that MC 6. (a) Ide...

A: P = 18 - 1.5Q MR = 18- 3Q  MC = 6

Q: A man said, “the implementation of Minimum Wage Law hasnothing to do with the increase in wages of t...

A: Minimum wage law means a particular wage rate which is above equlibrium wage level. Government initi...

Q: Demand P(q)=100-2q Total Costs C(q)=10+20q . Calculate marginal cost and marginal revenue for a firm...

A: P (q)=100-2q Total Costs C(q)=10+20q  

Q: 5. Explain how each of the following situations changes the quantity of money (money supply) in the ...

A: The Fed controls the money supply using its monetary policy tools.      

Q: When the economy is in a liquidity trap, expansionary monetary policy is ineffective with respect to...

A: In liquidity trap interest rate is lowered to a certain level,below which it cannot be lowered furth...

Q: To say that “there is a scarcity of diamond” means that

A: There is a great shortage of diamond in the world because diamond is not available easily in the wor...

Q: The local government in Karachi is considering two tax proposals: A lump-sum tax of Rs. 300 on ea...

A: Average fixed cost (AFC) is fixed cost spent on per unit of output, average variable cost is variabl...

Q: The state has decided to increase funding for public education. They are considering four alternativ...

A:  Change of behavior of individuals due to increase in different taxes: 1.Sales tax on food Because o...

Q: Converse the demand

A: The demand curve shows the quantity demanded of a good at the different price levels and it is a dow...

Q: Match the terms to definitions

A: Since you have posted a question with multiple sub-parts, we explain the meaning of the first three ...

Q: Q3. Which kind of unemployment is worse in macroeconomics? Also give some suggestions to overcome th...

A: Unemployment is the situation in which the employable person seeking a job but cannot find it.

Q: 2. Reasons on the demand-side of the labour market for increasing unemployment in South Africacould ...

A: Option (C).

Q: 1 Is it possible for a firm to experience both increasing and diminishing returns at the same time? ...

A: When the output increases in a proportion greater than the increase in input,it is known as Increasi...

Q: Draw the price effect and the quantity effect fora price change from $10 to $20. Which effect islarg...

A: Price: A cost is the (generally not negative) amount of installment or pay offered by one gathering ...

Q: Consider the units of output, TFC and TVC given in the following table. Units of output Total ...

A: We have used the following formulas, Total cost = Total fixed cost + Total variable cost Average fix...

Q: If the Fed lends five banks a total of $100 million butdepositors withdraw $50 million and hold it a...

A: Assets Liabilities            Loans (borrowings from fed)                           $100 million  ...

Q: 1.Would each of the following groups to be happy or unhappy if ringgit appreciated? Explain. A) Hong...

A: The exchange rate is the rate at which one currency is exchanged for another currency. If one curren...

Q: Which of these statements accurately captures a current trend in operations?Products and services ar...

A:   Meaning of Market: The term market refers to the situation under which the producers or the seller...

Q: 1)Use a diagram to illustrate how each of the following events affects the equilibrium price and qua...

A: In all graphs, D0 and S0 are initial demand and supply curves intersecting at point A with equilibri...

Q: Find the optimum level of output and profit from the cost functionTC = 50 + 6Q2and priceP = 100 – 4Q...

A: MC = dTC/dQ = 12Q TR = P x Q = 100Q - 4Q2 MR = dTR/dQ = 100 - 8Q

Q: A vendor is offering an extended repair contract on a machine. The firm’s experience is that this wi...

A: Present value can be calculated as follows: Present value = 2001+0.061+ 2001+0.062+ 4001+0.063+ 5001...

Q: 1. Harding Enterprises has developed a new product called the Gillooly Shillelagh. The market demand...

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

Q: The market for lemon has 10 potential consumers, each having an individual demand curve P = 101 - 10...

A: The total consumer in the market = 10 The individual demand function, P = 101- 10Qi The inverse dema...

Q: Consider the following closed economy model: C=500+0.2(Y-T)I=200G=100T=100+0.1YDerive the closed eco...

A: Multiplier = 1.22

Q: . Suppose the most you would be willing to pay to have a freshly washed car before going out on a da...

A: To understand what economic surplus is, it is important to understand about the consumer surplus &am...

Q: The basic requirement of money is that it be   backed by precious metals--gold or silver authorized ...

A: Prior to the use of money for daily transactions, the barter system existed in which goods were trad...

Q: Schedule Z-If your filing status is Head of household The tax is: If your taxable income is: of the ...

A: The equation y=mx+b shows the different aspects of a situation that can easily fit into it. The equa...

Q: The planned investment function will shift downward if: OPTIONS: the existing stock of capital decre...

A: A negative report on the confidence of consumer would cause buyers to feel pessimistic about what's ...