What is the relationship between a Gini coefficient and a Lorenz curve?

Q: Imagine a firm with a marginal abatement cost (MAC) function equal to: MAC = 45 - 5E. The government...

A: Given, MAC = 45 – 5E Per unit tax = $10

Q: With the aid of a diagram, show the effect of the following changes on the equilibrium price, quanti...

A: If there is an increase in the number of pregnant women, this implies there will be a rise in the nu...

Q: What is the difference between change in supply and change in quantity supplied?

A: When the supply of a commodity changes due to other factors such as production cost, technology adva...

Q: Solve it early and correctly I upvote definitely

A: When prices of the current year are expressed as a percentage of base year price, then index numbers...

Q: The demand for a product is Q = 100 P. Initially the marginal cost is MC0 = 40 and the price is P0 ...

A: a. The market demand is given to be Q = 100-P. When the cartel is formed, then there will be a monop...

Q: In the 19th Century Britain was trading with countries from distant locations such as North America,...

A: Gravity model is an international trade theory that explains the economies’ bilateral trade flows ba...

Q: Farmer Greene faces diminishing marginal product.If she plants no seeds on her farm, she gets noharv...

A: Law of diminishing marginal productivity states that the marginal production from the additional uni...

Q: Consider the following events:a. The price of cell phones goes down by 25 percent during a sale.b. Y...

A: A shift in the demand curve is defined when there is a change in demand; when the price of quantity ...

Q: Suppose two countries produce the same twogoods and have identical production possibilitiesfrontiers...

A: Production possibilities frontiers are used to represent the trade-off that occurs between the diffe...

Q: I need help with C, D, E, F, and G

A: Now, the price of food F1= $100  the price of housing increased H1 = $200. the cost of the consumer’...

Q: Answer d,e,f and g Many elderly people in the US receive Social Security payments as their sole sour...

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

Q: In each of the following scenarios, which type of unemployment would change (if any) and in what dir...

A: Unemployment refers to a situation when a person who is actively searching for employment is unable ...

Q: Inflation in Theoretica(pretend country) is currently below the target range of its central bank. Wh...

A: When there are a low level of inflation i.e. lower price levels then there is a negative output gap ...

Q: What are the deadweight losses associated with a monopoly firm?

A: Monopoly Market: The monopoly market refers to the market where only one seller enjoys the whole mar...

Q: How has state capture affected the poor in South Africa? your answer should be economically based. [...

A: State capture is a kind of corruption in the political system of a country where private interests s...

Q: M purchased a small lot in a subdivision. paying P200 000 down and promising to pay P15 000 every 3 ...

A: The down payment (DP) is P200,000. Quarterly payment (QP) is P15,000. Time period (n) is 40 quarters...

Q: Draw the demand, marginal-revenue, averagetotal-cost, and marginal-cost curves for amonopolist. Show...

A: A monopoly is a form of imperfect competition that has a single seller and a large number of buyers.

Q: What is the difference between movement along the demand and supply curve due to a change in price v...

A: A shift in the demand curve is defined when there is a change in demand; when the price of quantity ...

Q: Suppose you could buy shoes one at a time, rather than in pairs. What do you predict the cross-price...

A: According to question one can purchase only one shoe at a time either left shoes or the right shoes....

Q: Give an example of a government-created monopoly. Is creating this monopoly necessarily bad public p...

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

Q: answer an discuss pls

A: Time period (n) for deposit is 10 years. After the 10 year, the amount is kept in the account for ot...

Q: Question is in the photo

A: Production Possibility Curve refers to different combination of goods that can be produced in an eco...

Q: Is either helicopter money or quantitative easing preferred in times of severe recessions in order t...

A: The term Helicopter Money is given by Milton Friedman in 1969. It means dropping money from the heli...

Q: Question is in photo

A: The university theater faces the demand curve D0. Now, if the price is $5 the quantity of movie tick...

Q: Is the choice between trade and self-sufficiency an either/or question? Is there amiddle-of-the-road...

A: The choice of trade and self-sufficiency goes hand in hand. Trade includes both import as well as ex...

Q: 1. Assume two countries, the U.S (US) and Japan (J), have one good: cars. The demand (d) and supply ...

A: Without trade, at the equilibrium, the demand and supply of cars in both countries Japan and the U.S...

Q: I need help with finding equilibrium point on this question? a retailer will buy 45 radios fom a who...

A: To derive linear demand equation, it is given that retailer buy 45 units at $10 and 20 units at $60....

Q: Need help with part d & e

A: The process of constrained optimization is employed to maximize or minimize an objective function th...

Q: Explain why individuals make choices that are directly on the budget constraint, rather than inside ...

A: Budget constraint refers to the line or the constraint which represents the combination of the price...

Q: The Poster Bed Company believes that its industry can best be classified as monopolistically competi...

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

Q: The City of San Antonio is considering various options for providing water in its 50-year plan, Incl...

A: The present value (Pv) of a single payment received in the future time period is: PV=Future Value (F...

Q: Draw a supply curve and describe the external factors that determine supply.

A: supply is defined as the quantity of goods that the producers decide to sell in the market at any gi...

Q: What is price discrimination? From the perspective of running a business, is this a good thing or ba...

A: When similar goods or closely related products are sold at different prices in different markets or ...

Q: Which of the following describes the relationship between price and quantity demanded according to t...

A: According to the Law of DD (demand), the quantity (Q) demanded of a good is negatively related to th...

Q: Explain Ecological Models and also define simplifying assumptions to construct such a model ?

A: Environmental economics is the most important and an essential part of economics, as producers and c...

Q: ICD-10 was implemented in October 2015. Summarize how the industry handled it.

A: The first international classification list called as international list of causes of death was adop...

Q: Consider two firms with the following marginal abatement costs (MAC) as a function of emissions (E):...

A: MAC1 = 12 - 2E1 MAC2 = 8 - E2 MED = .5(E1+E2)

Q: What kind of economic changes in the economy would lead the curve tobe more steeply sloped?

A: Economic changes are those fluctuations that change the economic structure of the country. Such chan...

Q: The income elasticity of demand for eggs has been estimated to be 0.57. If income grows by 5% in a p...

A: Change in demand can be calculated as follows: Change in demand = Demand×income=0.57×5=2.85

Q: Answer part a, b and c

A: U (x1 , x2 ) = α ln(x1) + (1 − α) ln(x2) α=0.25 U (x1 , x2 ) = 0.25 ln(x1) + 0.75 ln(x2)