A numeraire good is O A) A good worth money O B) A good whose value is agreed upon O C) A good widely used in trade O D) A good in which the value of other goods is expressed

Q: Discuss whether MNC's will always be beneficial for the consumers and the economy of the host…

A: Multinational corporations (MNCs) can have each positive and negative impacts on consumers and the…

Q: Suppose X is an inferior good and the price of X rises Select one: O a The IE will be larger than…

A: Whenever price falls, there will be both substitution and income effect due to price fall.

Q: Using marginal thinking, if you were deciding whether to purchase a second television set, you would…

A: In case of Marginal Analysis, we compare the additional benefits that will be received from an…

Q: Marginal utility is the OA. overall satisfaction obtained from consuming a good OB. additional…

A: Introduction  Marginal utility refers to the additional utility derived from the consumption of an…

Q: Based on the graph below, which of the following is correct? D₂ Price D₁ P2 P₁ Q₁ Q₂ Quantity O a.…

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

Q: Demand is the relationship between the price of a good and: O a. the income of individual consumers.…

A: The demand curve is downward sloping. Any change in the price of a good causes a movement along the…

Q: Mr. Renato put up a cafeteria without applying for a business permit, one-day government…

A: Licensing: The term licensing refers to getting permission from the licensor. Basically, it is a…

Q: The above figures show the market for gasoline. Which figure(s) shows the effect of an increased…

A: We have given the market for gasoline.  The demand curve for gasoline depicts the inverse…

Q: A budget line is a graph that shows the various combinations of two products that a Multiple Choice…

A: A budget line refers to the all possible combination or all possible bundle of two goods that can be…

Q: People are more likely to purchase a consumer ratings magazine that reviews new automobiles before…

A: Asymmetric Information: Asymmetric information refers to a situation where one party in a…

Q: A demand schedule A) shows how the demand changes when the supply changes. is a list of the…

A: When a good is manufactured, cost  takes place for producing that good and process of business…

Q: Question 35 Middle-men in a marketing channel participate in order to obtain a profit on the re-sale…

A: Middlemen in a marketing channel participate in order to obtain a profit on the re-sale of products.…

Q: A buyer's willingness to pay for a good is the O maximum demand for, is willing to pay for Oprice…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

Q: The demand curve for a normal good shifts leftward if income or the expected future price O a.…

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

Q: If the price of a good increases, then Select one: A. the demand for complementary goods will…

A: The price(p) of services and goods and the amount demanded that commodity have a converse…

Q: :6. Utility means

A: To find : What is meaning of utility.

Q: Which one of the following is a durable consumer good? Select one: O a furniture O b office supplies…

A: Durable consumer goods are such goods that have long life span i.e usually more than 3 years and are…

Q: When deciding which goods to consume, you should choose to consume the good with the highest…

A: Marginal utility describes the additional satisfaction or benefit (utility) that a consumer derives…

Q: The phrase "Diminishing Marginal Utility" refers to the fact that O The more people consume a good…

A: Utility is a term referring to the overall satisfaction obtained from consuming a good or service.

Q: A change in which factor would shift the supply curve? Select one: a. production technology b. the…

A: Demand shows the relation between P and Q that consumers are willing to buy, assuming all other…

Q: In a demand relationship we consider many factors like taste, income, etc. What are the two main…

A: Law of demand or demand relationship shows the relationship between price of a good and quantity…

Q: A relative price is the O O . slope of the supply curve. difference between one money price and…

A: Answer Price is the total quantity of money that a buyer pays to the seller in exchange for buying…

Q: When economists say the quantity supplied of a product has increased, they mean the supply curve has…

A: Supply: It is the total amount of goods present for consumers.

Q: The "quantity demanded" of any good or service is during a specified time period and at a specified…

A: Quantity demanded(Qd) refers t the total value of the services and goods demanded by the consumers…

Q: Consider the following chart. What is the marginal utility per the price for the fourth unit of…

A: Marginal utility and total utility are key concepts in economics, both related to the satisfaction…

Q: The demand and supply curves are given by q = 80 - 4 p and q = 6 p-40, respectively; the equilibrium…

A: Taxes distort the quantity and price away from equilibrium. With the imposition of taxes, a…

Q: Select one: O a. make money in the stock market. O b. learn a way of thinking. O c. to decide…

A: Economics is a social science that deals with the production, distribution, and consumption of goods…

Q: Question 5 Select the graph that corresponds to a shift in the supply curve. O Price Price P₁ D D₂ I…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: H Becky's Demand for b Demand Refer to the graph above to answer this question. The graph shows…

A: Maximum willingness to pay (MWTP) refers to the highest price or value that an individual or…

Q: Select the number of the question and the letter to indicate the answer you consider correct for…

A: As per the guidelines we are allowed to answer the first three subparts only. Please post the…

Q: If goods A and B are substitutes, an increase in the price of A will result in Select one: a. no…

A: Demand is the total quantity of goods and services that the customers are ready to purchase at…

Q: By definition: a substitute is a good that: Select one: O a. has same likeness as another good O b.…

A: In a market, two or more goods are related to each other directly or indirectly when the change in…

Q: Each point along the market demand curve shows... O A. the quantity of the good that consumers would…

A: Demand, as well as supply, are very fundamental and essential microeconomic concepts that assist in…

Q: Which one of the following Would cause an increase in the supply of planes? Select one: O a. an…

A: Hi, according to our guidelines we are allowed to answer only one question in a single session. So I…

Q: An owner of a landscaping business received extra income in the previous month. She is considering…

A: The opportunity cost of an activity is the value of next best activity forgone in choosing the given…