Q: Refer to Table 19.1. In Guatemala, the opportunity cost of 1 bushel of oranges is Group of answer…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…
Q: 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 MR MC I ATC D
A: In First price discrimination , monopoly takes all the consumer surplus to itself . Monopoly…
Q: Safeway sells water for $2 a bottle or $18 for a box of 12 bottles. This is an example of third…
A: Third degree price discrimination: the price varies according to consumer attributes such as age,…
Q: Row Player E C O N G 15, 28 0,2 7,23 92,4 Column Player A 110,0 31, 33 16, 1 40, 181 M 47,68 0, 1…
A: Method of iterated elimination of dominated strategy. Sometimes we can get Nash equilibrium by the…
Q: QUESTION 13 Suppose that the amount of capital increases. What will happen to the wage? a. Increase…
A: The increase in the amount of capital would lead to increase in the marginal productivity of labour.…
Q: The theory of comparative advantage is credited to Group of answer choices Adam Smith. John…
A: The concept of "comparative advantage" basically refers to a country's capacity to manufacture a…
Q: 4. A common rule used for describing the conduct of monetary policy is the Taylor rule, given by i —…
A: The change in price of services and good is said to be inflation. Inflation is considered bad for an…
Q: 4. If you borrowed PhP 250,000 from a bank payable for two years and 6 months at 10% simple discount…
A: Given information: Future value (F): PhP 250,000 Time period (t): 2.5 years Interest rate (r):…
Q: Dan sells newspapers. Dan says that a 10 percent increase in the price of a newspaper will decrease…
A: Elasticity of demand is estimated by dividing the change in quantity demanded by the change in the…
Q: · α Each week, an individual consumes x and y of two goods, and works for 1 hours. These three…
A: Given, Utility Function: U(x,y,l)=αln(x)+βln(y)+(1-α-β)ln(L-1) Defined for 0≤l≤L and x,y>0 and,…
Q: (1) Year 1980 1985 1990 2000 2005 2009 a. $2686.9 Based on the above information, what is real GDP…
A: Real GDP is the GDP in base year price. Real GDP does not include inflation Nominal GDP includes…
Q: Suppose that there are two markets; an agricultural products market and a water firm that is and the…
A: Consumer surplus is the monetary benefit that consumers receive when they pay a price lower than…
Q: Explain how each of the following helps to stabilize the financial system: deposit insurance,…
A: The financial system consists of the monetary instrument's web, mismanagement might lead to crises…
Q: example of one fiscal policy in our current econmy to assure US economic goals (2022)
A: Fiscal policy is a method through which a government modifies its tax rates and expenditure levels…
Q: Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers…
A: Adverse selection happens when one party has less knowledge than the other party while carrying out…
Q: 6. Suppose that there are two identical firms in the silver mining industry. The cost curve of each…
A: Since you have given multiple sub-parts questions, we will solve the first subpart for you. If you…
Q: Can you do an explanation for this graph please soon as possible.
A: Introduction: Budget constraint: A budget constraint describes all possible combinations of goods…
Q: 20-1 Your product fail about 2% of the time, on average. Some customers purchase the extended…
A: Adverse selection occurs when there's a lack of symmetric information before a deal between a buyer…
Q: 17. Find the slope (if possible) of the line passing through the points (2,1) and (1,10). 1 9 a. 9…
A:
Q: If an economy's income is completely equally distributed, then the value of its Gini coefficient is…
A: A statistical indicator of economic inequality in a population is the Gini coefficient, often known…
Q: 6. Using a payoff matrix to determine the equilibrium outcome Suppose that Flashfry and Warmbreeze…
A: Economic market equilibrium happens when supply and demand levels adjust, making ideal market…
Q: 3. The four independent projects shown below are under consideration by Revamonte Packing. Given:…
A: Independent project: A project that is independent of all other projects and is not one of them. An…
Q: Explain any 4 costs that pollution control measures bring about in developing nations.
A: Pollution is a challenging problem at present for developed as well as developing nations. But,…
Q: Lipsion Ltd company is thinking about investing in one of two potential new products for sale. The…
A: Payback period shows the recovery period of initial investment. It is calculated by using the…
Q: There is none.
A: Nash equilibrium- The combination of strategy where the equilibrium happens in a game that…
Q: QUESTION 11 If a person pays to own a factor of production indefinitely then he or she must have…
A: Option C Purchase Price
Q: After studying the impact of price controls, how would you justify the imposition of a price floor…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: Suppose a U.S. dollar exchanges for 2 British pounds, then each pound is worth Group of answer…
A: An exchange rate is the rate at which currency will be exchanged for another currency. Currencies…
Q: 14. For a certain level of L, MP is increasing. For that level of X (from this level of L): B. The…
A: Production Function: Production function represents a relationship between the input and output. It…
Q: 1,800 (year 1), 2,300 (year 2), 3,000 (year 3), and 3,700
A: Year Enrollment Year1 1800 Year2 2300 Year3 3000 Year4 3700
Q: Problem 1: Labor Unions. The aggregate supply of cricket players is given by w = 75 + 2L and the…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Suppose that the income elasticity of microwave ovens is 0.9. What would this imply for the product?…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: Total health expenditures are a function of price and O A. Reimbursement B. Value Assets Quantity
A: The expenditure on health is a major expenditure of every household .It takes a major proportion of…
Q: Suppose that a small company is thinking of putting plants in their lobby for employees to view and…
A: Marginal social benefit is the satisfaction experienced by consumers of a particular good plus or…
Q: The United States imports televisions from Japan and Japan imports computer chips from the United…
A: Opportunity cost is the cost of producing one good in terms of other. Comparative advantage is when…
Q: The coefficient of determination, R^2 determines: Select one: O a. the direction of the relationship…
A: A linear regression model is used to predict the value of the dependent variable at a given value of…
Q: (Problem 3, Page 477) In a certain economy the expectations-augmented Phillips curve is π = π² - 2…
A: Phillips curve, graphic representation of the economic connection between the rate of unemployment…
Q: Consider a typical consumer whose preferences can be represented by a Constant Elasticity of…
A:
Q: O lower interest rates that will stimulate AD and lower resource prices that will increase SRAS O…
A: Short run aggregate supply (SRAS) curve depicts the goods and services supplied at each price level…
Q: 6. A large number of new estate agents (with the same technology as existing firms) enter the…
A: perfect competition market is the structure of market where large numbers of buyers and sellers…
Q: Q-140-10p and the supply curve is Q-10p. The government imposes a price ceiling of p-$4 per unit. a.…
A: The equilibrium price is the only price where the plans of consumers and the plans of producers…
Q: The government knows that as a monopolist Spectral is earning supernormal profits. A regulator is…
A: Given: Production function: Q=L0.6K0.4 Price of labor or wage rate (w) = $6 Price of Machine (r) =…
Q: Suppose the demand for taxis in a town is p = 10 - Q. There are only two taxi companies, and each…
A: Cournot model assumes Nash equilibrium which means that each firm in cournot model chooses its…
Q: Suppose the fed were to sell off $500 worth of used office furniture to private citizens. Explain…
A: According to the Federal Reserve, bank reserves are the sum of money that a bank is obligated to…
Q: Suppose that every driver faces a 1% probability of an automobile accident every year. An accident…
A: Actuarially Fairness In economics, an insurance contract is known as actuarially fair if its premium…
Q: 42 percent of all people working in the United States are baby boomers, how many were working in…
A: Total Population 155 million (Assuming) baby boomer (2008) = 42% of all worker retire after 10 years…
Q: Interest Rate (percent) 14 #2086TNO 10+ 4+ I Money Market 1 1 20 40 60 I Ms1 % 140 100 120 160 Mp…
A: The proportion of deposits, commercial has to keep with themselves is known as RR(reserve ratio) .RR…
Q: Q (units) 0 1 2 NMT 3 4 5 P ($) 50 45 40 35 30 25 TC ($) 10 $105 none of the above 26 42 58 74 90 If…
A: In a monopoly, A monopolist will produce where MR = MC MR is the marginal revenue MC is the…
Q: A U.S. exporter has a receivable of 20 million Canadian dollars (C$), due in 30 days. Name and…
A: Introduction to Trade: According to the information provided in the question, country-U's exporter…
Q: 17-3. The residential division of Prism’s high speed Internet service uses one advertising agency…
A: The difference-in-differences method is a quasi-experimental methodology that compares the changes…
Step by step
Solved in 2 steps
- Using graph, explain when consumer maximize his utility? - Draw the graph ExplanationQUESTION 23 Quantity Per Week 0 1234 00 0 5 6 7 8 9 Amy 0 5.0 9.9 14.7 194 24.0 28.5 329 37.2 414 Total Utility David 0 600 1200 1800 2400 3000 3600 4200 4800 5400 Robert 0 100 190 270 340 400 450 490 520 510 Michelle 0 60 130 220 310 425 575 900 1275 1770 Refer to the above table. Which of the four people have utility schedules characterized by the law of diminishing marginal utility? O Michelle and David only O Amy and Robert only Michelle only Amy, Robert, and David onlyExercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.
- Using graph, explain when consumer is in equilibrium? Draw the graph ( curves )DmISIIng Margifal Otmty n. TOTAL AND MARGINAL UTILITY Reset E UTILITY CALCULATIONS Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 40 10 14 2 3 4 54 Quantity Consumed 10 Marginal Utility 4 64 20 6. 10 70 3. 6. -10 6. 72 -20 -2 7 70 Quantity Consumed Quantity Consumed -6 8. 64 8 Prev 1 of 3 Score answer > ...Table A – Faris Daily Consumption Dozens of Oysters Total Utility Marginal Utility per Day 1 60 104 3 134 4 152 5 160 Number of Total Utility Marginal Utility Root Beers per Day 1 40 70 3 94 4 114 5 128 Refer to Table A shows Faris's consumption on the oysters and root beers per day for a total five days; i. Compute Faris's marginal utility of for consumption of dozens of oyster and number of root beers per day ii. At what units per day Faris's Diminishing Marginal Utility sets in for consumption of dozens of oyster and number root beers per day. iii. Please briefly explain why Faris will experience the Diminishing Marginal Utility as he consumes more unit of oysters and root beers.
- If we have money, we buy goods and services to satisfy our needs. In economics, thesatisfaction that we get from the consumption of goods and services is called utility. Usea utility graph to explain what happen to the utility when you keep on increasing thenumber of units consumed. Also explain what happens to the utility when you keep onincreasing the number of units consumed. Also explain what happens to the additionalutility (i.e. additional satisfaction) when you increase your consumption by one unitTable 6.4 Chocolate Bars Total Utility 1 10 2 25 3 4 60 5 70 Refer to Table 6.4, which shows a utility schedule for a consumer’s consumption of chocolate bars. The marginal utility of the first chocolate bar is _____ units. Group of answer choices 70 10 2 15 45You have an 8:30 class this morning but you are feeling extremely tired. How do you decide whether toget some extra sleep or go to class?