The variable costs incurred by the business in the current period per unit of output is: ta) lhe average variable costs (b) The marginal costs (c) The marginal input cost (d) The marginal variable input'cost

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A: Opportunity-cost is the cost(C) of next-best-alternative forgone. Economic-rent is the money…

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A: The long-run aggregate supply represents the potential output an economy is capable of achieving…

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A: Insurance refers to an agreement in which the company offers a guarantee against the loss/damage…

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A: The AD is the total demand done by the consumers in an economy during a duration. The government…

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Q: How many airplanes would a competitive firm produce if the market price was $14?

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A: Inflation occurs when the average price of final products increases over a period of time. Inflation…

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A: The firms incur costs as per their production processes and other requirements to maintain and make…

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A: In the Oligopoly market structure, there are relatively few firms but more than one firm in the…

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A: MPC is the marginal propensity to consume which is the percentage of change in consumption spending…

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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

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A: In the market, it is considered as all the sunk costs are generally a fixed cost, but not all fixed…

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A: The marginal benefit refers to the additional benefit received by the firms on producing more units…

Q: Suppose that in response to huge job losses in the U.S. textile industry, Congress imposes a 100…

A: Import refers to the receiving of goods and services from another country. Here, US imposes a 100…

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A: Constrained choice happens when a financial(economic) agents must decide the ideal combination of…

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A: Inflation refers to the loss of purchasing power in the people's hands in lieu of the increase in…

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A: Demand Function  QD = 800 - 5P Supply Function  QS = 10 + 5P  At Equilibrium  QD = QS  800 - 5P = 10…

Q: Disposable Income (Y) $0 $100 $200 $300 $400 Consumption Spending (C) $100 $180 $260 $340 $420 $500…

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A: Price elasticity of demand = percentage change in quantity demanded/ percentage change in price

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A: Increasing returns to scale refers to situation when percentage change in input is lower than…

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A: Opportunity cost is termed as alternative cost. It is the lost gain which can be acquired from the…

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A: In  the given graph, it is given that the hypothetical representation of the long-run equilibrium of…

Q: 7. Remember that the CPI is always set equal to 100 in the base year. Suppose a basket of goods and…

A: The index that depicts the price of a weighted average consumer goods and services market basket…

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A: One period model: - one-period model is a macroeconomic model that determines the competitive…

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A: Cross elasticity of demand measures the responsiveness of changes in the demand for one good caused…

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A: The Break-even point of a firm occurs when the firm does not earn a profit or incurs a loss. It is…

Q: 2. Suppose that the demand curve for cigarettes is given by y(p) = 50 - P and the supply curve is…

A: y(p)=50-P y(p)=P

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A: a. The aggregate demand curve represents the relationship between the price level prevailing in the…

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A: To graph the total revenue curve, we need to find the total revenue at a different price using the…

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A: Velocity of money = GDP/Money Supply 3 = 900/Money Supply Money Supply = 900/3 = 300 OPTION E…

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A: The Law of Diminishing Marginal Utility- This law states that everything else equals the marginal…

Q: tions: Enter your answers as a whole number. Electronics Flash Drive Production Revenues ity (8GB…

A: Answer, given below

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A: Macroeconomics deals with the economic aspects, concepts, policies, and other instruments that cater…

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A: The marginal product of labor refers to the additional output produced when an additional unit of…

Q: Use the following data. Using the expenditures approach, which of the following is the correct…

A: Gross domestic product (GDP), or value added refers to the value of items and services produced by…

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A: Given: The base fine for speeding is = $100 If the speed goes more than = 10mph Thus, the fine…

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A: a.      suppose the govt adopts a policy that forces pesticide producers to bear the social cost of…

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A: Price ceiling is the limit set by the government to safeguard the consumer from the high charging of…