Cattle sold for four dollars a head in Texas. If the cattlemen drove the cattle north to Kansas, their cattle sold for forty dollars a head. This excerpt best reflects an example of- agricultural shortages В the boom or bust cycle C industrial improvements supply and demand 14 15 16 17 18 19 20 21 22

Q: Because of product differentiation, a firm in monopolistic competition Is able to restrict the entry…

A: Under monopolistic competition, there are large number of buyers and sellers selling differentiated…

Q: What happens to the market for loanable funds when interest rates increase? Planned investments…

A: Answer: An increase in the interest rate will lead to a decrease in the quantity demanded of…

Q: Alyssa makes sweaters in her home. She started with just some knitting needles and yarn and was able…

A: Marginal product measures the change in the total product due to a change in input by one unit,…

Q: Suppose the demand function of a product is given by q = 14-5/p. 1 1, the demand is elastic, and…

A: Demand Function is the equation that shows how the quantity of a good demanded by the consumers in a…

Q: The perfectly competitive firm should produce in the a. short run if price is below average variable…

A: Perfect Competition- It is a marketplace where a large size of the market create similar products…

Q: EconoTech's Wicked Widgets is currently producing more than the socially optimal level of widgets.…

A: Here, it is given that EconoTech's Wicked Widgets is manufacturing more than the socially optimal…

Q: Capitalism can fail to improve peoples' standards of living whe- all answer options here are correct…

A: Capitalism is a type of economic system in which factors of productions are owned by owned by…

Q: The derivation of an economy's aggregate demand (AD) curve O A. is based upon economy-wide…

A: The aggregate demand curve indicates the total quantity demanded of all goods as well as services by…

Q: Investor Matt has $643,000 to invest in bonds. Bond A yields an average of 6% and the bond B yields…

A: Bonds are defined as a type of debt issued by the business firms to raise capital for their business…

Q: Technology spillover occurs when a firm's research yields technical knowledge that is used by…

A: Technology refers to the man-made resource that helps to utilize time and cost effective and improve…

Q: During a recession, O A. investment responds strongly to lower interest rates since investment and…

A: A recession is an economic slowdown or a contraction in terms of economic activities, it may lead to…

Q: In the base year, nominal GDP O A. may be higher or lower than real GDP. O B. is always greater than…

A: In the base year, nominal GDP is equal to the real GDP. Real GDP measures the total output level…

Q: 18) If the price elasticity of demand is 0.6, then a 10 percent increase in the price of the good…

A: Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product…

Q: Coke and Pepsi are substitutes. Which of the following will not cause the demand curve for Pepsi to…

A: Two goods are said to be complementary when they are used together. Two goods are said to be…

Q: following graph, use the blue line (circle symbol) to plot David's production possibilities frontier…

A: In this problem, we are being provided with the production per acre of maize and squash by two…

Q: Using money as a medium of exchange is more efficient than barter because

A: Introduction of money helps to overcome the defects of barter system.

Q: If the risk premium is 2%, the nominal borrowing rate is 7% and the real borrowing rate is 5%, what…

A: Given:- Risk premium rate=2% Nominal borrowing rate=7% Real borrowing rate=5% Please find detailed…

Q: Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college…

A: The cost in 2018 can be calculated by multiplying the prices in 2018 with the quantity in the…

Q: D Bread 10. Refer to Figure 1. An economy is operating at full employment, and then workers in the…

A: The PPC is the production possibility curve that illustrates the different combinations of two…

Q: Use the table to find GDI, GDP, gross private domestic investment, personal income, and personal…

A: GDP is the measure of all final goods and services produced in the economy within a specific time.…

Q: Investment Capital consumption allowance (depreciation) Exports Imports Government purchases…

A: National Income : the total income from current output of a nation, which includes interest, rental…

Q: In macroeconomics we study the interactions of three markets: O A. stock market, bond market, and…

A: There are two area of the study of economics i.e. Micro economics and Macro economics. Micro…

Q: Time left 1:08:43 Suppose that, following a decrease in the supply of good X, we observe that the…

A: Given  Given the supply of the good x the price of good y increases.

Q: Why is economics often described as the science of constrained choice?

A: The economics is the science which deals with the allocation of these limited resources to satisfy…

Q: Which of these do NOT comprise the psychological factors influencing consumer decision making?…

A: 1. Psychological Consequences Consumer behavior is heavily influenced by human psychology. These…

Q: Which of the following statements is correct about a business income coverage form? 1. it must be…

A: Business income coverage form is a type of an insurance policy that covers loss of income from…

Q: Using the cost data for Project X and Project Y below, conduct a Present Worth Analysis to calculate…

A: Present Worth AnalysisWith the help of Present Worth Analysis investment options can be compared.…

Q: Refer to Figure 4-18. At a price of $35, there would be a

A: As shown in diagram At price $35 Quantity demanded = 200 units Quantity Supplied = 600 units

Q: Which of the following are ways for domestic governments to raise capital for spending? Please…

A: Government raises capital from various sources . Government spending is done for social welfare for…

Q: Suppose that both of the vents you ve just analyzed are partly responsible for the ease in the price…

A: 1. According to the first group of students, a decrease in supply caused an increase in price as…

Q: Because advertisement services are differentiated, Facebook sets the price equal to marginal…

A: 1) here, option D is correct that is Facebook sets the price equals to marginal cost. Because in…

Q: Labor productivity In the U.S. In the periods 1973–1995 and 1995–2010 grew at average rates of…

A: The measure for the performance of the economy which compares the amount of goods and services being…

Q: Which location represents the firm's costs? (A) 1 (B) 2 C) 3 (D) 4 Line 2 QUANTITY

A: Total cost of the firm is the cost incurred to carry out production.Consumer surplus is the area…

Q: Match each of the following reasons why someone might hold onto money. Having money on hand. ......…

A: In case you lose your job is the correct example of the Market demand for money. To buy gas and…

Q: Which of the following statements is false?

A: Different market structures are categorized on the basis of number of buyers and sellers, the types…

Q: If an industry consists of 20 firms holding equal market shares, the Herfindahl index is a. 400. b.…

A: Here, it is given that there are 20 firms in a market with equal market share.

Q: Which of the following is an example of lower production costs brought about by the use of…

A: The quantity supplied of the good is defined as the amount of the good the firms are willing and…

Q: The following graph shows the combinations of unemployment and inflation that existed in United…

A: The Phillips curve illustrates the negative relationship between unemployment and the inflation…

Q: In Exhibit 7-10, the publisher's fixed cost is equal to: O $200. O $100. $300. $50.

A: Fixed cost refers to the cost of production that does not change with a change in the level of…

Q: 5. The equation R(x) = -5x² + 15x + 20 models the revenue (profit - costs) of a company in hundreds…

A: Revenue function: R(x) = -5x2 + 15x + 20 x = Quantity sold in thousands units

Q: The "fractured land hypothesis" suggests that

A: Fractured Land Hypothesis is defined as a hypothesis which states that fractured physical geography…

Q: Assume that an economy has 500 workers, each working 1,500 hours per year. If the average real…

A: Formula:  Labor productivity = Total output ÷ Total input

Q: 1200 1100 ATC 1000 900 800 700 600 500 MC Demand 400 300 200 MR 100 5 10 15 20 25 30 35 40 45 50 55…

A: In a monopolistically competitive market price is determined where P>MR=MC

Q: 6. a term referring to the fact that for many goods, as the level of production increases, the…

A: Answer 6) Option c is the correct answer Economic of Scale  Economies of scale are cost advantages…

Q: If in some year gross Investment was $240 bllion and net Investment was $180 billion, then in that…

A: In economics, investment refers to additions to the existing capital stock of an economy. Purchase…

Q: 22. For the three-part question that follows, provide your answer to each part in the given…

A: Purchasing power of an individual depends on the real increase in the amount of income rather than…

Q: costs of the four potential sellers in the local photography market are: Lebron $700; Kobe $600;…

A: Equilibrium is achieved at the output level where Qs equals Qd.

Q: A firm's total short-run cost function is C(y) = 12y3 - 8y2 +30y+ 12. What is the average variable…

A: please find the answer below.

Q: What kind of monetary policy rule did Milton Friedman advocate? Select one: a. Long-run economic…

A: According to Milton Friedman, the money supply rate should be equal to the real GDP growth rate.