Q: Hi, can you explain the formula for get those results.
A: The formulas used to get the values of x1, x2....x9 depends on the values available and deduced in…
Q: What is marginal benefit? How do you calculate marginal benefit?
A: Marginal benefit refers to the additional benefit that obtained by increasing the output by one more…
Q: Which of the following three goods is most likely to be considered a luxury house, spade, chips
A: Luxury goods are those goods for which it quantity demanded changes more than the proportional…
Q: (d) Define the cost function g(n) = cost of making n sandwiches. Assume the cost to make 800…
A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…
Q: thank you
A: Answer 1:Here, it given that, Y1 = $40 K, Y2 = $60 K, Q1 = 24 boxes, and Q2 = 6 boxeswhere Y1, Y2…
Q: Can you explain donut economics
A: Economics: It describes the interaction of people with value.
Q: Eric and Ginny are farmers. Each one owns a 12-acre plot of land. The following table shows the…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…
Q: Refer to the Front Page article to answer one question. FRONT PAGE Recycling Wastes Money New York…
A: A budget proposal refers to a detailed document comprising of all the information about the expected…
Q: A T-shirt shop discovers that the WTP of its customers varies by time of day that they arrive at the…
A: The objective of the question is to calculate the total sales of the T-shirt shop under different…
Q: sense 2. Calculate the price elasticity of demand for the following products and state whether…
A: For question no. 2 we need not use the mid point formula. Simply point elaticity formula is…
Q: Problem statement: → The line labeled D, in the graph to the right shows the number of cups of…
A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…
Q: Why would a hotel stay open during a slow month when it seems like the revenue from so few customers…
A: Variable cost of production refers to the cost of operating a business such as labour cost, raw…
Q: The graph shows the benefits and costs of consuming BK Breakfast Burgers. Marginal benefit, marginal…
A: Marginal benefit is the extra gain earned by the consumer when they purchase a good or product. The…
Q: evi offered to sell his car to Evan for $5,000 cash. Evan responded to Levi's offer by saying: "I…
A: In contract law, a binding agreement is formed when there is an offer, acceptance of that offer, and…
Q: Jordan is calculating the worth of a computer by comparing its costs and benefits, including…
A: In economics, costs are the money and non-money spent on goods and services. These expenses include…
Q: Suppose that MASU managed to get Olivia Rodrigo to play a concert at Convocation Hall. Tickets cost…
A: The economic cost of attending the Olivia Rodrigo live performance isn't simply the price ticket…
Q: What law studied in the supply and demand topic would affect the sales of hula hoops due to what…
A: Law of demand states that the quantity of a good demanded increases as price falls and decreases as…
Q: In the late 1990s, Starbucks hired the Environmental Defense Fund to help it determine how best to…
A: Green consumerism refers to a state during which consumers demand products and services that have…
Q: The following excerpt is from a letter sent to a financial advice columnist: "My wife and I are…
A: A mortgage is one kind of financing that is regularly used for buying real estate. To purchase the…
Q: Stella and Milo run an organic farm. The table below provides some information regarding how much…
A: Opportunity cost refers to the value of the next best alternative forgone when a decision is made to…
Q: What does Adam Smith use “pins” to illustrate? Why is this important?
A: Classical school of thought believed in the automatic correction of the market, any disequilibrium…
Q: In 2018, the Pew Internet & American Life Project asked 743 teens aged 13 to 17 several questions…
A: Consider Pew's survey when 743 youths in the 13- to the 17-year-old age group were asked a number of…
Q: what is marcoeconomic?
A: Macroeconomics is the branch of economics that focuses on the study of the economy as a whole. It…
Q: Clancy is a hard-working college senior. One Sunday, he decides to work nonstop until he has…
A: Marginal gain or additional gain for every hour is the amount of gain achieved during that hour.…
Q: Q. In an article about the financial problems of USA Today, Newsweek reported that the paper was…
A: Elasticity is defined as the responsiveness of change in one variable. When changes in price will…
Q: +. MindTap - Cengage Learning geBrain - My Home…
A: Using the maximum selling price and buying price, we can find the quantity demanded and supplied as…
Q: terms of economics, what is the significance of the following quote? “On the next exam, I made the…
A: This is the quote which is taken from the book "Misbehaving" by Richard Thaler. The idea of the…
Q: What's the difference between Marginal Benefit and Marginal Cost?
A: Difference between Marginal Benefit and Marginal Cost,
Q: Felicity is studying economics and political science. She can read 30 pages of political science per…
A: Given,Felicity can read:Assignment:
Step by step
Solved in 2 steps
- What is the difference between an Internal Customer and an External Customer? Why are both equally important?So, in both cases, the chef would be doing the baking and cooking?The following accompanying table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase. CPU Total Marginal Total Marginal GHz Benefit Benefit Cost Costs 2.0 $1,000 $900 2.5 $1,400 $100 $1,200 $1,500 3.0 $300 3.5 $1,900 4.0 $2,000 $400 The total benefit of a 3.0GHZ computer is:
- Felicity is studying economics and political science. She can read 30 pages of political science per hour but only 5 pages of economics per hour. This week she has a 50 -page assignment in economics and a 150 -page assignment in political science. Because of sorority rush, she cannot devote more than 10 hours to studying these subjects this week. She realizes she cannot complete all of her assignments but is determined to complete at least 30 pages of her economics reading. Draw a graph with pages of economics on the horizontal axis and pages of political science on the vertical axis. On this graph, show the possibilities that are consistent with the constraints that Felicity has imposed on berself, i.e, show her choice set. (She is NOT allowed to read abead in either subject.) Label key points on your graph with their numerical values. Belinda loves chocolate and always thinks that more is better than less. Belinda thinks that a few piano lessons would be worse than none at all, but…If corn cost $.55 per pound and protein supplement cost $.12 per pound what is the maximum amount of corn purchase with a $2200 budget?Alfred marshall concept of marginal utility
- Read summary about the hula hoop scence:The Hudsucker Corporation has decided to sell the hula hoop for $1.79. We see the toy store owner leaning next to the front door waiting for customers to enter but customers are non-existent. Next, the movie cuts to the president of the company, played by Tim Robbins, and we see him sitting behind a big desk waiting to hear how the launch of the hula hoop is going. It does not go well. The price starts to drop, first to $1.59, then $1.49 and so on down until the hula hoop is "free with any purchase." Even this is not enough to attract consumers. So the toy store owner throws the hula hoops out into the alley behind the store. At his point, it is a fluke that changes the direction of the entire movie. When the hula hoops are tossed into the alley one of them rolls across the street and around the block before landing at the foot of a boy who is skipping school. He picks up the hula hoop and tries it out. He is a natural. About this time school…in 2020, during the Covid 19 pandemic, many retail store chains, including J.C. Penney, Abercrombie & Fitch, and L Brands closed some of their stores. An article in the Wall Street Journal quoted a marketing analyst as recommending that rather than close stores, "A healthier approach would be to sell fewer items and charge more for them." Source: Suzanne Kapner, "Retail Chains Shed Stores, but It Isn't Good for Business," Wall Street Journal, November 16, 2020. a. Does the marketing analyst believe that the demand for the clothes these stores sell is price elastic or price inelastic? The marketing analyst apparently believes that the demand for the clothes these stores sell is priceYou have exactly $50 to spend on some music. For the albums you are considering, the followin table lists the value to you, in dollars, as well as the price you must pay to acquire it. Album Price Sign of the Times (Prince) $25 Blood on the Tracks (Bob Dylan) $25 What's Going On (Marvin Gaye) $25 Nevermind (Nirvana) $25 Value $60 $67 $98 $85 What is the cost, in dollars, of paying $50 for an autographed copy of BTS' album Map of the So 7? Round your answer to two decimal places and do not enter the currency sign. If you answer is -$1.275, enter 1.28.
- MICROECONOMICS ( ALL OF IT IS ONE QUESTION!!!) For the article write the number of the graph that best describes what happened. King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were…[Related to Solved Problem 10.4 on page 330] In an article in the Quarterly Journal of Economics, Ted O’Donoghue and Matthew Rabin make the following observation: “People have self-control problems caused by a tendency to pursue immediate gratification in a way that their ‘longrun selves’ do not appreciate.” What do they mean by a person’s “long-run self ”? Give two examples of people pursuing immediate gratification that their long-run selves would not appreciate. Based on Ted O’Donoghue and Matthew Rabin, “Choice and Procrastination,” Quarterly Journal of Economics, February 2001, pp. 125–126.Econ 444-02 (Corporate Economics), Fall 2015Problem Set #2Due in class Thursday, September 24Problem 1. Alice and Barbra sell used CDs at music festivals. Each is decidingwhether or not to set up their booth at the last festival of the summer. The festivalis scheduled to take place in Alton, very near where Alice lives. It will cost her only$30 to travel the festival. Barbra is farther away, and it will cost her $100 to travelto Alton. Both Alice and Barbra would prefer to be only CD sellers at the festival,since they would avoid competition. If only one seller is at the festival, she will make$150 during the day (not counting travel costs). If both Barbra and Alice sell CDsat the festival, they will lower their prices and each make $50 during the day. BothAlice and Barbra receive $0 for not attending the festival.1. Draw the Normal Form of the game Alice and Bob are playing, be sure to labelthe game completely.2. Does either player have a dominant strategy? If so, what is it?3. List…
