9. a) Determine the degree of homogenous and return to sale of the following production functions. (i) Q=x² + 6xy + 7y² 3x² 5y² (iii) Q=0.9K02L0.6 (ii) Q=
Q: How is the value of a flexible exchange rate determined? Question 10 options:…
A: Flexible exchange rates are those that have been based on the worldwide supply and demand of a given…
Q: ssume two book producers, Bookworm and Bookia are allowed to sell books in a fair. They may either…
A: As per the law of demand price and quantity demanded are inverse to each other which is visible from…
Q: The elasticity of demand for home computer is -2.5, the elasticity of demand for business computers…
A: Demand elasticity and inelasticity refer to how much demand changes in response to changes in…
Q: Use the Solow model below to answer the question. K₂ K3 Y = Af(K,H) - dk K Suppose that Y₁ is 1,436,…
A: Given that; Y1=1436 Y2=6076 Y3=1238 s = 0.11 (savings rate) and δ = 0.051 (depreciation rate).…
Q: A consumer has the utility function u(x, y) = xy and faces the budget constraint 2x + y = 100. Find…
A: We are given: Utility function : u(x,y) = xy -- (1)Budget equation : 2x + y = 100 => y = 100 -…
Q: p=200-2q, re q is the number of rounds of golf that he plays per year. The manager of the Northlands…
A: Demand function (DF) DF shows the amount of a product that is being requested by a person at…
Q: Suppose that a researcher collects data on houses that have sold in a particular neighborhood over…
A: Standard errors are reported in brackets. Coefficient is significant if null hypothesis is rejected.…
Q: Please calculate the unemployment rate given the following information: Please round to two…
A: Unemployment rate is the ratio of unemployed people to the total number of people in the labor…
Q: •Using the observations on workers, we include educ (years of exper (years of labor market…
A: Estimated equation: wage = 0.284 + 0.092educ + 0.0041exper + 0.022tenure Where educ -> years of…
Q: The elasticity of demand for home computers is -2.5, the elasticity of demand for business computers…
A: A deadweight loss is a cost to society incurred as a result of market inefficiency, which occurs…
Q: s the assistant manager of a restaurant, how many t formation for Saturday night's dinner menu:…
A: Given Demand = 91dinners per hour Server target utilization = 90% Service rate = 15 dinners/hour
Q: 2. Suppose a firm's conditional factor demand functions (the inputs needed to produce q at minimum…
A: The firm's conditional factor demand function are given below: L = L(w,q,r) = 4rqw K = K(w,q,r) =…
Q: 007 Quantity 2007 200 O 12 5 200 007 Nominal GDP 50 2015 Quantity 2015 200 20 220 80 2015 Nominal…
A: Nominal GDP estimates a nation's GDP utilizing current costs, without adapting to expansion. Balance…
Q: For each price in the following table, calculate the firm's optimal quantity of units to produce,…
A: The measure that depicts the expenses that are incurred by the firm for carrying out day-to-day…
Q: n the long run, some firms will respond by Shift the demand curve, the supply curve, or both on the…
A: If the CDC announces that Chicken causes bacterial infection, it will alter the preferences of the…
Q: a) Illustrate the consumption choice for an individual when two goods are considered "perfect…
A: Substitutes are those goods which can be used at one's place to satisfy a need or want. They are…
Q: Suppose the untaxed market equilibrium pr and quantity in the home computer market are $850 and 10…
A: A deadweight loss means misfortune in economic effectiveness because of the disequilibrium of the…
Q: Homer's Donut Shoppe has the production function q = 3L0.5. What is the average product of labor at…
A: The production function shows relationship between inputs and output, that is how factors production…
Q: QUESTION 19 The difference between the Ricardian model of trade and the immobile factor model is…
A: Even though the LDC business pays lower wages, it is conceivable for an industry in a developed…
Q: From January to February * January March February April May Slow fall 73 June O Gradual decrease O…
A: In this question we can observe the increase between 2 consecutive months with the following growth…
Q: Calculating Real GDP Please use the information in the tables to answer the following questions.…
A: Real GDP is a macroeconomic proportion of the worth of monetary result adapted to cost changes. This…
Q: Consider the following equations describing the components of demand and equilibrium in the goods…
A: The following are the equations: C= 120 + 0.5 (Y - T) I = 40 G=20 T= 40
Q: In a time of crisis where there is a pandemic, policymakers try to encourage economic activity by…
A: During pandemic situation , alomost every nation have been affected by the covid-19 and the…
Q: Production producing at a point is efficient if the economy is a. on the production possibilities…
A: Answer: Efficient production level: all the combinations of two goods that lie on the production…
Q: The burrito truck industry in the city is perfectly competitive. On any given evening, the market…
A: Given; Demand function; QD=67-p Where; QD= Quantity of Burritos demandedp= Price of Burritos Rent of…
Q: A person wishes to have a future sum of $1,00,000 for his son’s education after 10 years from now.…
A: Given the future value = $100000 Number of years = 10 years Interest rate = 15%
Q: Sample: 2000Q1 2021Q4 Lags: 2 Null Hypothesis: LX1 does not Granger Cause LY LY does not Granger…
A: When P value is less than 0.05 ( 5 % significance level) we reject null hypothesis. Now, 0.0413…
Q: 1. What measures can the poorer countries take to accelerate their growth to bring their standards…
A: Human Development Index (HDI) refers to the measure that describes and categorizes the countries…
Q: As an operations management consultant, you have been asked to evaluate a furniture manufacturers…
A: Given information: Sales = $23.5 million Cost of goods sold = $20.8 million Accounts receivable =…
Q: 2. 90,000 is the population in city XYZ. Out of that, 60,000 are in labor force and employed peoples…
A: "Unemployment rate depicts the percentage of labor force which are currently unemployed or people…
Q: Economics how an increase in velocity of money affect IS-LM model and liquidity preference model.…
A: The term velocity of money means the amount of circulation of a unit of money within an economy. It…
Q: 3. Why is corruption is such a pervasive problem in many developing countries?
A:
Q: This expenditure (formerly general government consumption) includes all current government…
A: Introduction Government spending or expenditure refers to money spent by the public sector on the…
Q: Keith and Blake play a simultaneous one-shot game given by the following table: Keith Top Bottom…
A: In this question we have to find out the average payoff for the Keith and Black with the help of the…
Q: Multiple Choice and curve Will shift to the left as a result of: a decrease in business taxes.…
A: The rate of interest affects the investment demand curve. The investment is inversely related to the…
Q: The elasticity of demand for home computers is -2.5, the elasticity of demand for business computers…
A: The degree to which demand responds to a change in another economic variable, such as price, income…
Q: Which of the following is true for Firm 1? Peach strictly dominates Apple. Banana strictly…
A: Any strategy for a player which provides better payoffs to him in every scenario is said to be…
Q: 1. Calculate Consumer Price Index in each year using 1988 as base year and compute the CPI inflation…
A: The formula for calculating the consumer price index: = cost of market basket in current yearcost…
Q: a. always improve members' health. b. always provide net positive improvements. c. lead to more…
A: Community social capital is treated in two ways: 1. As a type of public product (parks,…
Q: In the short-run, the monopolistically competitive firm will experience: Multiple Choice O O O…
A: Monopolistically competitive market:- An industry where numerous businesses provide commodities…
Q: Table 20-3 The Distribution of Income in Edgerton Group Bottom Quintile Second Quintile Middle…
A: The poverty threshold, poverty limit, poverty line or breadline is the base degree of pay considered…
Q: hat is the future worth of P 6000.00 deposited at the end of every month for four years if the…
A:
Q: 10. Questionable business practices according to antitrust agencies Complete the following table by…
A: Scenario 1 - Tying: Tying is the process of combining two items into one package and charging a…
Q: suppose that an increase in the price of milk from $2.85 to $3.15 a gallon raises the amount that…
A: Given the initial price = $2.85 Final price = $3.15 Initial quantity = 9000 Final quantity = 11000
Q: Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The…
A: The structure of a market where there are a large number of firms selling products that tend to be…
Q: Use the following table to calculate the price elasticity of supply for computers Use the following…
A: Elasticity is a term used in economics to describe how the quantity required or provided changes as…
Q: 6. Show the likely paths of monetary policy transmission process taking an example cuts on financial…
A: *Answer: Monetary Policy is designed by the Central Bank to control the flow of money into the…
Q: The Coffee Korner, a small cafe near campus, sells lattes for $3.00 and biscotti for $1.50 each.…
A: The cost of the next best option available which is forgone is opportunity cost.
Q: Company Z is manufacturing quality laptops. The top management set a target of 97% productivity…
A: Given Information: Productivity target = 97% Daily plan = 760 units
Q: 5. Consider a variation of the Taylor rule: r = (0.25)rTAYLOR + (0.75)rt-1, where r is the real…
A: The cornerstones of the Taylor rule are as follows: Compared to actual inflation rates, the desired…
Step by step
Solved in 4 steps
- A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p = 75 – 0.1D units (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,000 per month and the variable cost is $30 per unit produced. Solve, a. What is the maximum profit per month related to thisproduct? b. What is the range of profitable demand during a month?920 it bait of 289301 Sindspis ON SEU pilkupeni A30S AO +32 monulo2 An economist for a sporting goods company estimates the revenue and Cost functions for the production of a new snowboard. These Functions are R(x) = -x ² +10x and ((x) = 4x+5, respectively, where x is the number of Snowboard's produced in thousands. The average profit is defined by the function AP(x) = P(x), where pox) is the profit function & Determine the production levels that make AP(x) > 0 P-xdThe global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. (please use excel/word) a)- If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well. (use excel) b)- Assume if many firms enter into the business of providing vaccine determine: How the demand curve of PFIZER would change and how it would now maximize its profit? The kind of market structure now PFIZER is forced to operate in? Also,…
- XYZ company can manufacture their own products and sells them. They are able to control the demand by changing the price that is determined by the equation below. The company is thinking of maximizing their profit. The fixed cost is $1,000 per month and the variable cost is $40 per unit. Find the number of units that must be manufactured and sold monthly to maximize profit. (Demand D in the equation is monthly) Hint: Profit = Total Revenue - Total Cost 2,700 5,000 p = $38 + D for D > 1 D2 1 Add fileThe demand curve for CO2 systems can be considered as a kinked demand curve. One analysis company has helped and they find that the kink occurs at around 15 plants sold at a price of DKK 4.4 million. DKK per plant. At a price increase based on the kink, the analysis company estimates the price elasticity to -2. Furthermore, the analysis company has found that at a price of DKK 0, it the requested quantity is 40 plants. Derive and draw the kinked demand function and the associated MR function based on the given data. If necessary, make other necessary assumptions yourself.Suppose that the profit function for a product can be calculated as follows: Profit (300-C1-C2) *X)-10000 Where X-labor cost/unit Y= parts cost /unit D- Demand Assume that labor costs could range from $42.1 to $48.1 per unit, and parts cost range from S814 to S90.4 per unit, and annual demand could range from 16.4 to 275 units what is the best-case scenario profit?
- (a) A retail company has a marginal profit curve given by: MP =-2Q 2+ 160Q + 2145. Determine the level of production, or range of production at which the company will have: (i) Increasing returns (ii) Decreasing returns (iii) Negative returns (iv) Its maximum profit (b) A production process varies only with raw materials, as all other inputs are fixed. The cost of a shipment of 8kg of raw materials is fixed at $85. It takes 5kg of raw materials to create one item of output, Q. The marginal revenue for this production process is expressed by: MR = =Q 2 + 520 – 576. 2+52Q Determine the optimal amount of raw materials to be used in this production process. (c) A production process varies with both labour, L and raw materials, M. The production function is given: Q = 1.25L 0.38 +0.9M0.68 Current production level is Q= 800 items and marginal profit is given as a fixed $16.50. Determine what profit can be expected if: (i) Labour is increased by 25%. (ii) Both labour and raw materials are…Profit Analysis Unendo, is a large computer game manufacturer. They have estimated that the demand function for their game "Star Wars Battlefront III" is as follows... STAR WARE BATTLEFRONT p = 86 - 0.05q where p is the price of a game and q is the number of game produced and sold per week. They estimate that their cost function in dollars is ... Clq) = 179 + 5000; where the fixed cost is $5000 and the marginal cost is $17 per game Unendo wishes to maximize the weekly profit of producing and selling the game. Find the maximum profit they can earn. (Round your answer to 2 decimal places, if necessary)A company estimates that the relationship between. unit price and demand per month for a potential new product is approximated by p= $100.00-$0.10D. The company can produce the product by increasing fixed costs $17,500 per month, and the estimated variable cost is $40.00 per unit. What is the demand that maximizes revenue and the maximum revenue? What is the optimal demand, D*, and based on this demand, should the company produce the new product? Why? (Work out the complete solution by differential calculus, starting with the formula for profit or loss per month.)
- 15 x+1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 16 Suppose a company has fixed costs of $4000 and variable costs per unit of 1. 1300 x dollars per unit. 16 (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. $. (c) Form the profit function P(x) from the cost and revenue functions. P(x) = %3D Find the maximum profit. $4 (d) What price will maximize the profit? (Round your answer to the nearest cent.) %$4 Need Help? Read It Watch ItThe global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. A) If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 (i) Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well. B) Assume if many firms enter into the business of providing vaccine determine: (i) How the demand curve of PFIZER would change and how it would now maximize its profit? The kind of market structure now PFIZER is forced…15 Suppose a company has fixed costs of $2100 and variable costs per unit of x + 1500 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 16 1600 1/64 (a) Find the break-even points. (Enter your answers as a comma-separated list.) -x dollars per unit. X = (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find the maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $