Q: What happened here? All data in real $bn. NX Y. NX new NX old Oa. our currency appreciated, raising ...
A: Ques 1) Net exports is given as the value of a nation's total export goods and services minus the v...
Q: 2. Show on a diagram how a negative external effect can lead to a situation where marginal social co...
A: Ghar ma ar ar amar khala h na ho to the percentage method of payment is done and I am a little bette...
Q: Microsoft Windows 8 Versions and U.S. Prices Version Price Full from Microsoft 249.99 Upgrade from M...
A: As we know that Microsoft Window is a popular operating system developed by Microsoft corporation. N...
Q: Beginning with a capital input of 4 and a labor input of 49, show that the marginal product of labor...
A: q = 100 x K0.75L0.25 Marginal product of labor, MPL = dq / dL = 100 x 0.25 x (K / L)0.75 = 25 x (K /...
Q: Consider the following ‘war of attrition’. Two animals are in a stand off for a prey. They independe...
A: The ideal conclusion of a game happens wherever there's no incentive to depart from the start strate...
Q: China is playing a growing role in the world economy. It is one of the world's fastest growing count...
A: China is the world's second most powerful country in the world after the USA. China's growth and dev...
Q: Create five questions covering the below question topic along with ideal answers that you would expe...
A: I assume a hypothetical situation which are demand function and and cost functions of monopoly firms...
Q: The demand for stoves is given by QD=450−20P and the market supply is given by QS = 20 + 100P i. In ...
A: Answer to the question is as follows:
Q: 3. Use the wage curve and the profit curve to show the equilibrium in a model of the labour market. ...
A: If a person is unemployed even though he or she is willing to work with the current sàlary then this...
Q: a. In addition to investment in physical and human capital, what other public policies might a count...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: The gross domestic product (GDP) of the United States is defined as the _market value of v all final...
A: Gross domestic product is defined as the market value of final output generated within the economy.
Q: New environmental regulation increases the cost of producing gasoline. How will this affect the gaso...
A: Environmental regulations can raise production expenses and lower efficiency by expecting firms to i...
Q: (b) Berikan dua (2) contoh isu etika dalam operasi sebuah perniagaan kecil. (Give two (2) examples o...
A: Ethical issues in business cover a wide range of topics that fall within an organization's ethical g...
Q: Suppose an economy's prodaction consusts only of com and soybean. In 2005, 20 bushels of corn are so...
A: Nominal GDP is calculated by multiplying the current year quantities of goods and services with curr...
Q: The amount $101 is available to be paid out to two players. The players must make simultaneous claim...
A: Given, Two Players : Player 1 and Player 2 The Amount to be paid to the two players : $101 The clai...
Q: Which question is an example of a macroeconomic question? A. What is the level of industrial concen...
A: Microeconomics can be understood as a branch of economics that studies the behavior of an economy wh...
Q: 4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and g...
A: Gross domestic product (GDP) is the standard measure of the value added created through the producti...
Q: Why would good quality second hand cars withdraw from the market? Use economic theory to discuss thi...
A: The used-car industry is frequently used to explain the consequences of imperfect information. In th...
Q: Which of the following statements is correct? A) An increase in price decreases consumer surplus. B)...
A: Demand curve shows quantity demanded by consumers at various prices. Its slopes downward and it refl...
Q: 1. Discuss the details of the Luckin scandal.
A: Luckin is a beverage retailer. As part of the IPO and to attract investors, companies share their fi...
Q: Does the 1s* fundamental theorem of welfare economics provide a rationale for laissez-faire economic...
A: The study that tends to deals with allocation of goods and resources affecting social welfare is kno...
Q: answer questions 2 and 3
A: Subsidies: A subsidy is a measure of cash given straightforwardly to firms by the public authority t...
Q: F 360 320 280 - 240 - 200 - ►K- 160 120 80 40 30 60 90 120 150 180 210 240 270 300 330 pilows Refer ...
A: The curve that shows the possible combinations of two goods that could be produced in an economy dur...
Q: would the equity and efficiency effects of raising the minimum wage to $20/
A: Raising the legal minimum wage should, in theory, benefit both the representative and the loser. Ent...
Q: Minimum wage legislation The following graph shows the labor market in the fast-food industry in the...
A:
Q: It cost P66,327 at the end of each year to maintain a section of Kennon road in Baguio City. If mone...
A:
Q: As an engineering student, when you look for an apartment, what economic criteria consistent with th...
A: Engineering economics is a branch of economics that deals with the application and usage of economic...
Q: Suppose this economy is in long-run equilibrium, as shown in the graph. Consider an exogenous decrea...
A: Is lm model shows the two markets in equilibrium one is goods market which represents by IS . Each a...
Q: A firm requires exactly four full-time workers to operate each piece of machinery in the factory. Us...
A: In economics, an isoquant is a curve that, when plotted on a graph, shows all of the combinations of...
Q: whether the following statement is true, false or uncertain and explain your er. Clearly state the e...
A: Economic equilibrium is a state in a market-based economy in which monetary powers - like organic ma...
Q: Question 5 a. Using the table below which outlines the price and quantity demanded of three goods, c...
A: 1. price elasticity of demand :- = Change in quantity / Change in price change in Quantity =...
Q: TRUE OR FALSE? The new growth theory emphasized the role of human capital development. The two majo...
A: When talking about new growth theory, it explains the role of various economic variables that contri...
Q: Consider the following data about U.S. real GDP for the George W. H. Bush (1989-1993) and Bill Clint...
A: In the given table, real GDP in two different adminstration is given from year 1989 to 2001, in whic...
Q: If a country can produce more of a good than other countries with a given amount of resources, we sa...
A: Absolute and comparative advantage are too very important concepts of International trade as they in...
Q: Two countries, A and B, produce cotton and wine. The table below describes their maximum daily produ...
A: Comparative advantage arises when the country produces good at lower opportunity cost than other cou...
Q: ler a fictional price index, the College Student Price Index (CSPI), based on a typical college stud...
A: We know that, Cost can be calculated as Cost= Price × quantity in basket And Price index can be cal...
Q: Draw the circular flow model and in your own words, discuss the operation of capitalism.
A: The circular flow of income refers to that model of the economy in which the exchanges are represent...
Q: For less than $300, you can get a high-quality colour laser printer with four toner cartridges alrea...
A: When talking about the reconstruction or replacement cost of a product, companies sometimes charge a...
Q: Suppose Adrienne receives a payment in cash of $400 and she deposits it in a bank. i. If the banking...
A: The entire quantity cash of cash closely-held by the general public at Any given time in an economy ...
Q: g equations: P = 48 – 2Q P = 24 + 2Q demand: supply: is the price of a bushel in dollars and Q is qu...
A: At equilibrium, demand = supply and graphically where demand & supply intersect or cross each ot...
Q: If the price is greater than the marginal cost of produci O A) a loss. B) some producer surplus from...
A: Supply curve shows positive relationship between price and quantity supplied by suppliers. Its slope...
Q: Which of the following is not one of the three types of Agreement that lack Consideration? Select on...
A: In layman's terms, considerations is the primary motivation for a party to enter into a legal agreem...
Q: The demand for stoves is given by QD=450−20� and the market supply is given by QS = 20 – 100P iii. ...
A: The answer is given below
Q: (a' quantity y to market price P. Find the aggregate demand function for coconut oil, linking aggreg...
A: Since we only answer maximum 3 subparts, a-c will be answered here. Please reupload the question men...
Q: Jane's utility function is U=X^2Y^8 , with marginal utilities being MUX=2XY^8 and MUY=8X^2Y^7. Pri...
A: Answer: Given, Utility function: U=X2Y8MUX=2XY8MUY=8X2Y7PX=1PY=3I=120 The budget constraint of this ...
Q: Vary the “Capacity” of Storage from 70 to 94 in increments of 4. For each capacity level, perform 30...
A: (1) Answer: D. Every organization has an operations function. Explanation: The operation functions l...
Q: 5. Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and envelopes...
A: Gdp is the total market value produced in domestic boundaries of the nation's during a year . There...
Q: Question 1: In the fractional reserve banking system, if the required reserve ratio is 5%, then an i...
A: The required reserve ratio is the fraction of deposits that the Fed requires banks to hold as reserv...
Q: Expected Utility formulation was initially proposed as a solution to the St. Petersburg paradox (or,...
A: ANSWER The paradox known as the St. Petersburg Paradox is obtained by a simple coin flip game. The r...
Q: To answer some parts of this question, you may need to refer to the diagram displayed below. The eco...
A: The given graph shows three aggregate demand curves and three aggregate supply curves with the initi...
Step by step
Solved in 4 steps with 4 images
- You and a coworker are assigned a team project on which your likelihood or a promotion will be decidedon. It is now the night before the project is due and neither has yet to start it. You both want toreceive a promotion next year, but you both also want to go to your company’s holiday party that night.Each of you wants to maximize his or her own happiness (likelihood of a promotion and mingling withyour colleagues “on the company’s dime”). If you both work, you deliver an outstanding presentation.If you both go to the party, your presentation is mediocre. If one parties and the other works, yourpresentation is above average. Partying increases happiness by 25 units. Working on the project addszero units to happiness. Happiness is also affected by your chance of a promotion, which is depends on howgood your project is. An outstanding presentation gives 40 units of happiness to each of you; an aboveaverage presentation gives 30 units of happiness; a mediocre presentation gives 10 units…4. Show how to construct the reference dependent utility function for two friends Kate and Mary whose gains and losses are listed as follows : Kate's net worth is $ 4.5 million ( decreased from $ 5.5 to $ 4.5 million ) Mary's net worth $ 3.2 million ( increased from $ 3 to $ 3.2 million ) ( First determine the reference point ( use a parameter ) and then derive reference utility function for each ) .Suppose Jimi has reference dependent preferences over guitars and money as in Tversky and Kahneman (1991). His utility functions are given below. Gains Gains 400 -2 -2 2 Guitars 2$ Losses Losses i-600 -2 What is the least amount of money Jimi is willing to accept to sell one of his guitars? (just enter a dollar amount, i.e., "10o0", not "$1000"
- Jin's Utility Function Wealth Utility (Dollars) 60,000 4,000 61,000 4,110 62,000 4,209 63,000 4,288 Refer to Table 27-1. If Jin's current wealth is $61,000, then O his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Jin is not risk averse. O his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Jin is not risk averse. O his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Jin is risk averse. his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Jin is risk averse.Sanjay won a poker game against his friends. Now he has to choose between $600 (the winnings) and the chance to play a new game. In this new game, Sanjay has a 50% chance of winning nothing and a 50% chance of winning $1000. The following graph presents the utility function of Sanjay with respect to money: 1. By how much money would his winnings need to increase or decrease so that Sanjay isindifferent between the $600 and the new game? At a different table, Juan wins $800 in a blackjack game. Similarly, he has to choose between $800 or the chance to win a new game. In this game, Juan has a 45% chance of winning nothing and a 55% chance of winning $1000. The following graph presents the utility function of Juan with respect to money: 2. By how much money would his winnings need to increase or decrease so that Juan is indifferent between the $800 and the new game? Please enter a positive number for an increase or a negative number for a decrease.Betty is looking for a job. She considers job opportunities intwo cities. Bettyís utility is given by y- x, where y is the lifetime income andx is the amount spent on buying a house. The income from City 1 fluctuatesalthough the house price is stable. On the contrary, the income from City2 is stable while the house price fluctuates. If she moves to City 1, Bettycan earn a lifetime income y1 with probability alpha and 1 + y1 with probability1-alpha . The house price in City 1 is x1. Moving to City 2 means that Bettycan earn an income of y2. However, the house price is x2 with probabilitygamma and 1 + x2 with probability 1-gamma . Do the following: (a) Write down theexpected utilities associated with living in the two respective cities, i.e., V1and V2. (b) Derive the condition under which Betty chooses City 1.
- Khalid has a utility function U = W1/2, where W is his wealth in millions of dollarsand U is the utility he obtains from the wealth. In a game show, the host offershim a choice between (A) $4 million for sure, or (B) a gamble that pays $1million with probability 0.6 and $9 million with probability 0.4.i. Graph Khalid’s utility function with the help of above utility function. Ishe risk lover? Explain. ii. Does A or B choice offer Khalid a higher expected prize? Explain yourreasoning with appropriate calculations. iii. Does A or B offer Khalid a higher expected utility? Again, show yourcalculations. iv. Should Jamal pick A or B choice? Why?Becky is deciding whether to purchase an insurance for her home againtst burglary. the payoff for her is shown as follow: Net worth of her Net worth of her home: $ 20000 burglary(10%) Net worth of her Net worth of her home: $50000 burglary (90%) The insueance would cover all the loss from burlary and the insurance fee is $8000. Her utility funtion is given as u=w ^0.3 Should Beck purchase the insurance Explain.2. Alice believes that her car would cost £12500 to replace if it was stolen or damaged. Based on crime statistics for the area she lives in, she believes that the probability of her car being stolen or damaged is 0.15. (i) Alice's utility function is given by U(w) = ln(w) for w > 0 and she as £35000 in the bank. Calculate how much Alice would be prepared to pay (in a single payment) to insure her car against theft or damage (ii) Repeat the calculation in the previous part but now assume Alice has £500000 in the bank.
- An individual is oered a choice of either $50 or a lottery which may result in $0and $100, each with equal probability 1/2 . If the individual has a utility function u(w) = 5 + 2w, which one would they choose? If the individual has a utility function u(w) =w1/2 + 1?ayesha derives utility from travelling and outdoor dinning o weekends as given utility function U(t,d)=TD.the price of a day spent travelling is $160{Pt=160} and price of dining outdoor $200{Pd=200}.ayesha annual budget for this is $8000. find ayesha's utility maximizing choice of days travelling and dining outside. and alsoo find uutility level from consuming that bundles .show findings graphicallyThe following four figures show the utility of wealth functions for 4 different consumers. Which consumer is the most likely to accept a coin toss gamble where she could win $10 if heads and lose $10 if tails? A B C D نان A Wealth B Wealth C Wealth D Wealth