With the aid of a diagram, explain the meanings of ‘pecuniary price”, ‘non-pecuniary price’ and “full-economic price”, explain with a valid example.

Q: Aang and Bolin are playing a simultaneous-move game where they seek to maximize their utility…

A: Nash Equilibrium:- In order to predict the optimal results, it conceptualizes player behavior and…

Q: Using the AE-PC Model illustrate graphically the impact of each these factors in separate and…

A: *Answer:    * There is a sudden rise in oil prices: The increase in the price of crude oil causes a…

Q: The table above shows the total cost function for a typical firm producing hats in a perfectly…

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Starbucks' pumpkin spice latte is back to mess with your brain Yes​ folks, it's​ time! The​ sugary,…

A: Elasticity measures the responsiveness of quantity to changes in price

Q: Give detailed state for Hicks and Kaldor Welfare Criteria.

A:

Q: A town in Wyoming wants to drill a geothermal well to provide district heating steam and hot water…

A: given that, Capital Investment is $732,000 Savings due to a reduction in Gas consumption is…

Q: From our discussion of interest rate frameworks, we can guess that the demand for liquidity is…

A: Liquidity refers to the flow of money into the economy which increased when the banks lower the rate…

Q: 1) Consider a country in which three goods (A, B, and C) are produced. The following table shows…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: Your firm, Content Colleague, is similar to Happy Worker, a Canadian company that designs and…

A: The measure that depicts various quantities of goods and services being demanded by individuals at…

Q: A given cafe sells tea and coffee. They notice that most customers tend to order tea or coffee, as…

A: The substitute goods are used for each other. Rise in the price of one good leads to rise in demand…

Q: TRUE OR FALSE?   An improvement in the technology will reduce the supply of goods while an increase…

A: FACTORS THAT SHIFT SUPPLY CURVE Favourable natural conditions Fall or rise in input cost (cost of…

Q: "You sell your car to a friend for $2,000 so you can buy a new car. Is this sale value included in…

A: GDP is the Gross Domestic Product of the economy. It is the final value of goods and services…

Q: What is Globalization?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: When the demand curve shifts to the left and the supply curve shifts to the right and the shift of…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: MP and MRP and Profit-Maximization Questions: If tacos sell for $2.50, and wage=$12.50, answer…

A: Given information Selling price=$2.50 W=$12.50 Given table

Q: 5. Two alternatives are under consideration for providing energy at a remote research station, one…

A: As per the question one among two options that is, Geothermal and Solar required to be selected Rate…

Q: For an econmomy with a MPC of .80 the multiplier will be      5     4     a magnitue of 1 less…

A: Marginal propensity to consume shows how consumption chances as disposable income changes. It is…

Q: @0 (3) (d) 9. C I a foodien 6. Troy buys a sound system priced at $8,820.00 but paid $9,702.00 with…

A: It is given that the price of the product is $8,820.00 and the consumer purchases the commodity at…

Q: A person's social security benefit is based upon a. How much she/he earned their entire life b.…

A: Social Security Benefits provide partial replacement income for qualified retired adults and persons…

Q: Let F be a function of two variables, defined by F(K, L) = 2 In K + 5 In L. (a) Find RLK= F₁'(K, L)…

A: Elasticity of substitution measures the ease with which one input can be substituted for other.

Q: 8. Difference in Differences Question: In the context of a Difference-in-Differences estimation,…

A: 8. Estimating the impacts of a rapid shift in the economic climate, a policy, or general treatment…

Q: Firms that benefit from economies of scale: a. Performs more efficiently when output is small.…

A: Economies of scale refers to the situation where the average cost of production declines over the…

Q: Think of a person who likes having impact on their social networks. To do so, they always follow the…

A: Marginal returns = An increase in the total returns because of an additional unit of something.

Q: 6. An important routine function of the Federal Reserve Bank is to: A. supervise the liquidation of…

A: The American central bank is known as the Federal Reserve System (FRS). It is conceivably the most…

Q: 6. Two firms, Firm 1 and Firm 2 and are engaged in Cournot competition. The inverse demand they are…

A:

Q: A computer hardware firm sells both laptop computers and printers. Through the magic of focus…

A: The measure that depicts various quantities of goods and services being demanded at various levels…

Q: QUESTION 13 ote: No referencing is required for short answer questions. e following market is a…

A: Nash equilibrium refers to the strategy which provide the best outcomes provided the strategy of…

Q: 6. An important routine function of the Federal Reserve Bank is to: A. supervise the liquidation of…

A: Federal reserve is the apex bank of USA which performs regulatory as well as promotional functions…

Q: Jackson has an income of $600 and he spends all of his income on corn and fish. The price of corn is…

A: Budget is the maximum amount of money that can be spent on the purchase of both goods. Consumer can…

Q: Exhibit: IS-LM to Aggregate Demand Interest rate, r LM₁ (P = P₁, M = M₁) LM₂ (P = P₂, M = M₂) LM₂ (P…

A: "In macroeconomics, LM curve depicts the combinations of income/output Y and interest rate r which…

Q: Economic laws studied in this unit tell us that as the price of some good rises O we shift its…

A: Economic laws states how price and quantity demanded are related and how price and quantity supplied…

Q: An increase in disposable income worsens the current account because: O A. consumers demand more of…

A: Disposable income, otherwise called dispensable individual pay (DPI), is how much cash that an…

Q: Consider the IS-LM model of a small open economy at the equilibrium income, assuming a flat LM curve…

A: The steepness or levelness of the LM bend relies upon revenue flexibility of interest for cash.…

Q: Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units and…

A: Given  At Price Php 12, quantity demanded =6 and quantity supplied is 3 At the price $20, the…

Q: Jack is the owner of the only local bar in a small town.He sells whiskey in one-ounce glasses. For…

A: Given; There are two customers:- 1) Adam  2) Burt Adam's demand function; yA=16-2p Burt's demand…

Q: If orange juice is considered a normal good, then an increase in income in Ventura will have the…

A: Demand curve shows an inverse relationship between price and quantity demanded. It slopes does…

Q: Consider a Ricardian world of countries, A and B, two goods, X and Y, and a single factor of…

A: Given  Country A The production function for good x  Qx=0.1Lx           The production function…

Q: 6. Two firms, Firm 1 and Firm 2 and are competing in quantities. The demand they are facing is given…

A: In Cournot Duopoly model both the firms simultaneously optimize their profits taking other's output…

Q: There are two firms competing in the market for Airplanes - Boeing (B) and Airbus (A). The market…

A: In the mentioned question we have been given about the market for Airplanes in which there are two…

Q: Economic laws studied in this unit tell us that as the price of some good rises O we shift its…

A: Law of demand states that price and quantity demanded move in opposite directions. Law of supply…

Q: State whether the following statements are true or false: a. When constant marginal cost > 0,…

A: The situation is depicted by zero marginal cost, in which an additional unit may be provided without…

Q: Suppose the consumption function is given by C(Y)=60+0.8(Y-T) where Y represents output and T stands…

A: In the mentioned question we have been asked to calculate the equilibrium level of output. Given,…

Q: In a perfectly competitive market, the efficient quantity of a good will be produced when the good…

A: In perfectly competitive market, there are large number of firms selling identical goods.

Q: Examine the following graph of a market for coal, which shows the marginal private cost (MPC),…

A: According to the graph given, Graph of a market for Coal is given.  There are four different cost…

Q: Pearl Ltd. intends to manufacture and market mechanical weighing scales. Their research department…

A: Given information; x = 6200 - 50p C = 7400 + 70x Where x is the number of scales that can be sold at…

Q: A manufacturer estimates that its product can be produced at a total cost of c(x)=40,000+100x+x^3…

A: Profit is maximized where the MR=MC. or profit function is differentiated and put equal to zero.

Q: 4. Qd=a-bP = 6-2P ..(1) (2) Qs = c+dP=2 + 4P ........ Qd = Qs = Q Calculate equilibrium price (P)…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: Suppose that there is $80,000 in checking accounts, $200,000 in bonds, $100,000 in savings accounts,…

A: M1 as a measure of money supply includes Currency (Cash and coins), Demand deposits (Checking…

Q: What amount of money invested today at 15% interest can provide the following scholarships: 30 000…

A: The measure that depicts the value of current income flows being discounted at a specified rate of…

Q: Three firms are competing through prices (Bertrand competition). They are all selling the same…

A: Bertrand competition is a model of an oligopoly market structure.

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.