Based on this model, firms earn revenue when firms se factors in product markets. Suppose Neha earns $600 per week working as an interior designer for Ourhouse. She uses $8 to take a yoga class at Big Bend. Big B Lorenzo $250 per week to instruct yoga. Lorenzo uses $200 to purchase furniture from Ourhouse. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Lorenzo earns $250 per week working for Big Bend. Neha earns $600 per week working for Ourhouse. Lorenzo spends $200 to purchase furniture from Ourhouse. Factor Market Product Market O Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. apply. The $200 Lorenzo spends to purchase furniture from Ourhouse The yoga class Neha receives The $250 per week Lorenzo earns working for Big Bend

Based on this model, firms earn revenue when firms se factors in product markets. Suppose Neha earns $600 per week working as an interior designer for Ourhouse. She uses $8 to take a yoga class at Big Bend. Big B Lorenzo $250 per week to instruct yoga. Lorenzo uses $200 to purchase furniture from Ourhouse. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Lorenzo earns $250 per week working for Big Bend. Neha earns $600 per week working for Ourhouse. Lorenzo spends $200 to purchase furniture from Ourhouse. Factor Market Product Market O Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. apply. The $200 Lorenzo spends to purchase furniture from Ourhouse The yoga class Neha receives The $250 per week Lorenzo earns working for Big Bend

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter9: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 11CQ

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Based on this model, firms earn revenue when Suppose Teresa earns $750 per week working as a pilot for Wingies. She uses $10 to take a yoga class at Big Bend. Big Bend pays Sam $475 per week to instruct yoga. Sam uses $350 to purchase international flights from Wingles. Event purchase Identify whether each of the following events in this scenario occurs in the factor market or the product market. Sam earns $475 per week working for Big Bend. Teresa spends $10 to take a yoga class. Teresa earns $750 per week working for Wingies. Factor Market Product Market in product markets. The $475 per week Sam earns working for Big Bend O Teresa's labor Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The yoga class Teresa receives The $350 Sam spends to purchase international flights from Wingies
Suppose Amy earns $575 per week working as an interior designer for Ourhouse. She uses $10 to take a yoga class at Big Bend. Big Bend pays Van $400 per week to instruct yoga. Van uses $150 to purchase furniture from Ourhouse. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Factor Market Product Market Event Van earns $400 per week working for Big Bend. Amy earns $575 per week working for Ourhouse. Amy spends $10 to take a yoga class. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. ✔The $400 per week Van earns working for Big Bend The $150 Van spends to purchase furniture from Ourhouse Amy's labor O The yoga class Amy receives
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