nput either "increase" or "decrease" where relevant: A decrease in the price of a complementary good will cause its complement’s equilibrium price to ...... and the equilibrium quantity to .....
Q: hat is the natural unemployment rate? What is cyclical unemployment? What is frictional…
A: Unemployment is economic condition where a worker wants to work but still does not find job.
Q: Alcoa and Kaiser, duopolists in the market for primary aluminum ingot, choose prices of their 500…
A: According to the table below: When Alcoa and Kaiser were cooperating, both were settling a high…
Q: Don Solomon wants to set up a scholarship program with his alma mater. If P742998 is needed per year…
A: Given information: For the scholarship program, the amount needed each year = ₱742998 Rate of…
Q: Take a look at the figure below: Price Ps+ Pp This diagram shows a positive consumption; Qs negative…
A: Positive externalities are benefits to a third party who are not directly involved in a transaction.…
Q: For a certain company, the cost function for producing items is C (x) = 30 x + 150 and the revenue…
A:
Q: What are the objects of exchange control? Write any 10 objects.
A: Exchange control Government-imposed restrictions on the buying and selling of currencies are called…
Q: Thandi has R700 to spend on hamburgers and transport. A humburger costs R35 while a car trip is R25.…
A: The budget line implies the combination of two goods that consumers can buy at the given income and…
Q: Click and drag one of endpoints of the line in the figure to rotate in the appropriate direction
A: As seen in the figure below, a less elasticity demand curve indicates that a rise in price will have…
Q: What is progressive tax? Write its merits and demerits
A: Tax is compulsory payments which are made to the government. There is no quid pro quo relationship.…
Q: What are the objects of public debt?
A: Public debt refere to the funds collected by the government of the country from its citizens or…
Q: Question 22 Consider the following Cournot duopoly. Both firms produce a homogenous good. The demand…
A: We have duopoly model with asymmetric information about the marginal cost of firm 2.
Q: There's two things driving the prices," says wool general manager for PGG Wrightson, Grant Edwards.…
A: Demand and supply are the two forces that affects the market and its price. Here wool market is…
Q: What is characteristic in the marketing of services as compared to commodities, merchandise or…
A: Service marketing is a concept which focuses mainly on the business of non-physical intangible…
Q: 1(b) Assume that the production function for an economy in the Solow Growth Model is given by: 2/3 Y…
A: The steady state condition refers to the economic condition where the per capita variables such as…
Q: Paul decides to spend an hour playing football rather than studying or working at $6 per hour. His…
A: In economics, tradeoff refers to when an individual decides to let go of an opportunity or benefit…
Q: What is the role of economies of scale to determine the success of a firm in managing forces of…
A: Competition: It refers to a situation that exists in a market where there is a number of firms that…
Q: Consider the following bank. Cash in Vaults=$25 Its deposits at Central Bank-$125 Loans it has made…
A: Commercial banks are required to maintain a minimum amount of deposits as reserves with the central…
Q: Suppose the below table shows your demand schedule for CDs. Quantity Demanded Price $10 8 6 4 2 (a)…
A: In the mentioned question we have to calculate total utility , marginal utility and consumer surplus…
Q: Why leads a monopoly to welfare losses? Describe the different market equilibria of perfect…
A:
Q: Calculate the government purchases multiplier (to one decimal place) if the marginal propensity to…
A:
Q: What are the economic arguments in favour of the policy of protection? Write any three arguments.
A: Protectionism is the policy adopted by the domestic countries to protect their economies from the…
Q: Don Solomon wants to set up a scholarship program with his alma mater. If P941498 is needed per year…
A: Here, given information is, Annual payment (A) is given as P 941498 Interest rate (r) is given as…
Q: -09 k You just got closed out of an economics course you need to graduate and need to persuade the…
A:
Q: Please draw and explain the life cycle path of hours worked for a person who, at age 40, suddenly…
A: Life-cycle path: The Life-cycle speculation was created by Franco Modigliani in 1957. The hypothesis…
Q: Suppose a Cobb-Douglas Production function is given by the function: P(L,K)=8L^0.7K^0.3 Furthemore,…
A: Given Production function: PL,K=8L0.7K0.3 ...... (1) Cost function:…
Q: Several factors may influence interest rates for individual securities in an economy like the United…
A: Introduction There are many factors influencing the interest rate for individual securities. We all…
Q: In theory, the discriminatory firm will go out of business because: A its MPL is lower than…
A: In the marketplace, a discriminatory firm charges different prices to different customers, while a…
Q: A trust fund is to be formed by depositing $4,000 every six months for 25 years in a bank that…
A:
Q: What are the Principles of Public Debt Management?
A: Introduction - Getting control of your bills is the process of debt management.It entails keeping…
Q: An investment of P2880 is made at the beginning of each month for 9 years and 4 months. How much…
A: We have given that the investment is made at the beginning of each month and A =₱2880 Length of…
Q: m has been asked to estimate the cost today of a 10 hp electric motor for a ne ng analyzed. He has…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…
Q: Consider the following pure exchange economy with different consumer pref- erences and endowments…
A: 1 .) Edgeworth box is a representation of 2 consumer exchange economy , which consists of the axis…
Q: The Oklahoma City Zoo has proposed adding to their Web site a major segment providing a virtual tour…
A: ANSWER
Q: TC = 4,500 + 5Q2 MC = 10Q What is the average total cost equation? a. b. C. d. ATC= 4500Q + 5 ATC=…
A:
Q: What is law of diminishing marginal returns
A: The law of diminishing returns is significant because it informs economists' beliefs that a firm's…
Q: In the figure below, S2, represents a 25 unit increase in quantity supplied at each price. Determine…
A: Equilibrium is attained where demand meets the new supply (S2). Thus, new quantity will be where it…
Q: Economics explain the profit maximizing level of output and profit in organic growth?
A: Organic growth: It refers to the growth of the business under which the business will try to…
Q: Give an example of a GVC (Global value chain)
A: Global Value Chains mean that production and trade is occurring within a network of industries that…
Q: a. Discuss whether you think these regression results will generate good sales estimates for B.U.…
A: Demand analysis deals with the estimation of demand/sales based on available historic data for the…
Q: An engineering firm purchased a second hand truck for P 530,000 and paid P 15,000 for freight and…
A: Given:- Purchase price=P530,000 Freight charge(Included in purchase price)=P15,000 Life=10 years…
Q: If a cost function is C(q) = 2q3 - 6q2 + 20q • what is the fixed cost? What is the variable cost? •…
A: Economies of scale refers that when the cost per additional unit is decreasing due to increasing in…
Q: Assuming an interest rate of 5%, which three cash flows have the best Net Present Value? (Remember…
A: We have given Year A B C D E F G 0 -75000 -75000 -75000 -75000 -75000 -75000 -75000 1 15000…
Q: In Example 6.4, wheat is produced according to the production function: q=100 (K0.7L0.3). Beginning…
A: In economics, diminishing returns is the decline in the marginal (steady) result of a production…
Q: What is a viable cause for the right shift of this Supply Curve below? Group of answer choices…
A: Option D is correct answer because investment tax incentive will increase number of seller or firm…
Q: The figure below shows the cost (MC, ATC) and demand curves (D, MR) for a cable company operating as…
A: A monopoly firm produces at the intersection point of MR and MC. Hence, the output level…
Q: 6 Assume that Intel can be treated as the dominant firm in the market for computer chips . What…
A: Demand and supply are the main concepts of economics. The Law of demand suggests that if there is an…
Q: identify the graph that best demonstrates the impact of a large wildfire that destroys one of the…
A: Avocado is the input used to produce guacamole. This implies that the availability of avocado…
Q: Monopolistically competitive firms use product differentiation to a.limit the number of firms in the…
A: In monopolistically competitive market, the sellers sell differentiated products which are close…
Q: Suppose that steel producers face the demand curve given by: Q=75 -0.25P, where Q is steel output…
A: The marginal social cost is calculated as the total of the marginal external cost and the marginal…
Q: uppose a Cobb-Douglas Production function is given by the following: P(L,K)=60L^0.8K^0.2 where LL…
A: Production is maximised subject to budget constraint where marginal rate of technical substitution…
Input either "increase" or "decrease" where relevant:
A decrease in the price of a complementary good will cause its complement’s
Step by step
Solved in 2 steps
- Marc-Antoine and Annabelle have demand curves for books which are descending lines. Annabelle's demand curve has the same slope as Marc-Antoine's. Annabelle's demand curve is to the right of Marc-Antoine's. An increase in the price of books will cause: (a) a shift to the right of the Annabelle and Marc-Antoine demand curves. (b) a left shift of the Annabelle and Marc-Antoine demand curves. (c) a greater reduction in excess consumer consumption for Annabelle than for Marc-Antoine. (d) a smaller reduction in excess consumer demand for Annabelle than for Marc-antoineWhat is the relationship between two products if a price increase in Product A causes a decrease in demand for Product B? complements substitutes unrelated demand elasticIf any changes in the price of one product, leave the quantity demanded of other product unchanged, then the demand for the *.two products is unrelated False O True
- According to economic theory, the demand x for a quantity in a free market decreases as the price p increases (see the figure). Suppose that the number x of DVD players people are willing dx (A) Find 9,000 to buy per week from a retail chain at a price of $p is given by x = 10 sp<70. 0.3p + 1' dx Answer parts (A), (B), and (C). dp 4500- (B) Find the demand and the instantaneous rate of change of demand with respect to price when the price is $30. Write a brief interpretation of these results. The demand is x = when the price is $30. 2250- 9,000 The instantaneous rate of change of demand with respect to price is when the price is X = 0.3p + 1 $30. Write a brief interpretation of these results. p. 0- 40 80 At a price level of $30, the demand is DVD players per week and demand is Price (dollars) V at the rate of (C) Use the results from part (B) to estimate the demand if the price is increased to $31. Demand .....Assume that demand and supply are a simple line. If at the different prices, quantity of demand and price is shows as under, then determine the demand and supply equation. Demand (D) Supply (S) Price (P) 2 40 50 5 20 60Which firm would have more ability to respond to a change in input prices, one where inputs are perfect substitutes or one where they are combined in proportions? Use graphs to help demonstrate answer
- If two commodities are substitutes, a change in the price of the one, ceteris paribus, cause a change in the quantity purchased of the otherTask 2: Answer the following: A=18 The following table gives the daily supply and demand for snacks at a sporting event: Price (R.O) Quantity demanded Quantity Supplied 2.000 400 3000 1.500 1000 2400 P (A + 500) – (2 × A)P (A + 300) + (4 × A)P 0.950 3240 5300 a. If the quantity demanded and supplied are equalized at P. Find the value of P. b. If the organizers of the sporting event decide to set the price at 1.500, how many snacks will be sold?Graphically illustrate how the demand curve for electric vehicles will be affected in each of these cases below.(a) A major climate change awareness campaign is instituted which teaches consumers about clean energy vehicles. (b) The price of gas-powered vehicles falls significantly, due to lower costs of production. (c) Gas prices experience a significant and long-standing increase.(d) The price of electric vehicles falls due to a fall in the cost of production.
- In the following question(s) you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X. Refer to the above. An increase in the price of a product that is a close substitute for X will: Group of answer choices a. decrease D, increase P, and decrease Q. b. increase D, increase P, and decrease Q. c. increase D, increase P, and increase Q. d. increase D, decrease P, and increase Q.Suppose the demand curve for an air fryer is given by the following linear function: p = 0.25x + 250. a) Explain what 0.25 means in terms of the price and quantity. b) Explain why this demand curve would not do a good job of representing the relationship between the demand of a product and the price of an item.Which of the following will not cause a good’s entire demand curve to shift? Group of answer choices: (A) A change in consumers' income. (B) A change in consumers' tastes or desires for the good. (C) A change in the availability and price of substitute goods. (D) A change in consumers' expectations. (E) A change in the current price of the good.
