When gauging the amount of inequality, why do transitory and life cycle variations in income cause difficulties?

Q: Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or ...

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers...

Q: Consider an insurance contract with the premium r=$200 and payout q=$800. John has healthy-state inc...

A: John’s probability of illness,p = 0.2 IH = $900   IS = $100

Q: Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per unit are: PF =...

A: The amount of goods that a consumer can purchase over a given period of time is limited by the consu...

Q: What is globalization? How do you think it might have affected the economy over the past decade?

A: Globalization is a process through which markets in the global economy are integrated.

Q: The Lumins Lamp Company, a producer of old-style oil lamps, estimated the following demand function ...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: A 25-year-old person wants to accumulate $750,000 by age 60.  How much will she need to save each mo...

A:   A=Pr1+rn-1 Here, the value of n is obtained in months and hence multiplied by 12. n=60-25×12=420 m...

Q: Reducing Economic Exposure Colorado, Inc., is a U.S.-based MNC that obtains 10 percent of its suppli...

A: According to question, Colorado Inc. is a US-based multinational company, which obtain 10% of its su...

Q: Question 2 The equilibrium price of televisions fell significantly in the past month; however the eq...

A: Price elasticity of demand refers to the percentage change in the quantity demanded of a good due to...

Q: What is externality?

A: An externality exists when the production or consumption of a commodity and service affects a third ...

Q: Calculate the time required to produce the hundredth unit of a production run if the first unit took...

A: A learning curve is an industrial tool or formula used for calculating the reduction (expected) in t...

Q: A low-cost non-contact temperature measuring tool may be able to identify railroad car wheels that a...

A: It is given that the tool used to measure the temperature helps the railroad firm to identify the ra...

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit ...

A: Tariff is the tax imposed by the government on the imported goods in order to protect the domestic p...

Q: There is a persistent fear that there will be a high level of deflation. Many economists warn that i...

A: Following are the given values: Nominal interest rate = 5.25% Expected inflation = 1.50% Actual infl...

Q: In the Southern Company Managerial Challenge, which alternative for complying with the Clean Air Act...

A: The analysis of three choices made by the southern company to comply with the clean air is the follo...

Q: Suppose Alphonso’s town raises the price of bus tickets from $0.50 to $1 and the price of burgers ri...

A: The opportunity cost is the cost incurred by not enjoying the benefit associated with other alternat...

Q: Do entry and exit occur in the short run, the long run, both, or neither?

A: In the short run, the firms have one or more fixed factors of production. The firms cannot change th...

Q: explain whether the given statement is true, false or uncertain. Then provide arguments to justify y...

A: Inflation refers to the tendency of increasing general price level in the economy. When the expected...

Q: 1. Hoverboards and the Factory Market Area: Suppose there is a single shoe factory in the region. Th...

A: Cost of homemade shoe = opportunity cost of time required to make a shoe at home = 1 gallon milk pro...

Q: How will each of the following changes in demand and/or supply affect equilibrium price and equilibr...

A: Equilibrium in economics is the state of stability and balance. Any deviation from this level will y...

Q: Help

A: The production possibilities frontier (PPF) is a basic production economic model used to outline how...

Q: The idea that because of​ scarcity, producing more of one good or service means producing less of an...

A: Scarcity refers to one of the basic problems of economics. Scarcity means that resources are limited...

Q: Why does gold, which is a relatively nonessential item, have a higher price than water, which is ess...

A: There are many goods which are based on income of a consumer: Luxury goods and necessary goods. As i...

Q: Suppose that the U.S. government decides to charge beer consumers a tax. Before the tax, 20 million ...

A: Tax refers to the compulsory payment that imposed by the government on consumer, individual people w...

Q: An economy is currently experiencing inflation that exceeds the target rate set by the central bank....

A: Central bank has a dual mandate of managing employment and price stability in the economy.  Central ...

Q: For each of the following pairs of goods, which good would you expect to have  more elastic demand a...

A: Price elasticity of demand is the responsiveness of quantity demanded to changes in price. Demand ca...

Q: The price-demand equation and the cost function for the production of table saws are given, respecti...

A: Generally the demand unction is given in terms of quantity. The inverse demand function refers that ...

Q: Suppose the Fed sells $500 billion in government securities, which results in a $5000 billion decrea...

A: A decrease in the money supply due to the effect of some monetary policy causes the interest rates t...

Q: Suppose Never Bank (not the central bank), operating in (fictitious country) Neverland holds $100 mi...

A: Never Bank decides not to make any loans, this shifts the money supply curve to the left from MS to ...

Q: Curling is a sport that involves sliding a granitestone over a patch of ice. The Winter Olympics has...

A: Long run refers to that time period in which the there is no fixed cost and the all the factors of p...

Q: Unique Creations holds a monopoly position in the production and sale of magnometers. The cost funct...

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you. ...

Q: Which of the following statements are true and which are false? k). Standard costs per unit of outpu...

A: The sunk costs are the costs that are already be incurred and impossible to recovered.

Q: For the first one I’m not sure if I’m wore to if the reason and for the second one I just don’t know

A: The tightening of government regulations is going to increase the put pressure on supply(ss) side by...

Q: Discuss which of the following fall into the categories of consumption, investment, government expen...

A: GDP (Gross Domestic Product): It refers to the production of goods and services in an economy which ...

Q: 1. Inform the citizens aboutthe reasons for the downward sloping and upward sloping of the demand an...

A: Demand refers to the quantity of a product that a consumer desires to buy and is willing to pay for ...

Q: Question 4: International Factor MovementsExplain the effects of migration of labour between two nat...

A: International factor movements  are referred to the movements of factors of production like labour, ...

Q: SegiTech is a Malaysian technology company headquartered in Shah Alam, Selangor. The company designs...

A: Satisfaction from a job is a perception of employees regarding their work and their feeling for thei...

Q: How can cigarettes in perfect competition be productive and allocative efficiency?

A: Productive efficiency means that the economy is producing without any wastage. The choice of product...

Q: Imagine a firm's marginal abatement cost function with existing technologies is: MAC = 10 – E. If th...

A: Initial MAC = 10 - E New MAC = 5-0.5E Initial tax = $2 New tax = $4

Q: Tracey usually pays a price between $6 and $10 per pound of rice. Her monthly total expenditure on r...

A: Answer: Answer: Introduction: Price elasticity of demand: it refers to the percentage change in quan...

Q: If in 2008 China’s real GDP is growing at 9 percent a year, its population is growing at 1 percent a...

A: The formula for calculating RGDP (real-GDP) per person: Real GDP per person =Real GDP Total Populati...