Which of the following best illustrates the importance of addressing the three questions of economics? O People's desires and needs are always changing. O Businesses need to use limited resources wisely. O Traditional methods of production are outdated. O Businesses need to limit production.

Q: 2. In the shadow of the 2008 financial crisis, economists in 2010 were debating whether the…

A: Recession is teh situation where economy experiences the slowdown for 3quarter or for short term .…

Q: e for making tacos. you can click the Reset to Initial Values button to return the elements in the…

A: *Answer:  Answer:   When the price of a taco is $3, the equilibrium wage in the fast-food labor…

Q: Which of the following policies would likely increase productivity all else the same? A increasing…

A: At the marketplace, productivity refers to the total amount of goods and services produced with the…

Q: The diagram on the right shows the demand for money curve. Now suppose there is a decrease in the…

A: Money demand curve is downward sloping curve which represents the nagative relationship between…

Q: When price is less than marginal cost, a profit-maximizing producer in perfect competition will:

A: In the case of perfect competition, each firm takes the market price as given and hence produces an…

Q: Consider the following oligopolistic market. In the first stage, Firm 1 chooses quantity q₁. Firms 2…

A: Given information There are 3 firms Demand function P=100-Q Q=q1+q2+q3 C1=5q1 C2=4q2 C3=4q3

Q: If producers are willing to sell 20 cans of soda at a total price of 10 and a local restaurant…

A: Given information: Producers are willing to sell 20 cans of soda at a total price of 10, and a local…

Q: $30 a week boost to minimum wage The government increased the minimum wage by $30 a week to $570 a…

A: Minimum wage is a price floor that sets the minimum limit on the price level.

Q: 18 points)  Suppose you have $30 and you are going to rent some movies and buy some sodas.  Suppose…

A: Two goods - movies (M) and sodas (S) Total income = $30 Cost of movie = $6 Cost of soda = $1…

Q: Which of the following is NOT the way to solve the problem of negative externalities? a. Transfer…

A: In economics, the term externality is used to define the impact of one's action on any other…

Q: The average annual cost of damages caused by floods at Dona Rosario Village located along Butuanon…

A: Given, Estimated cost = P700,000  Initial cost = P2,500,000  Maintenance cost = P20,000  Interest =…

Q: K The table shows the demand and supply schedules for on-campus housing. If the college puts a rent…

A: Here, the given table shows quantity demanded and quantity supplied of on-campus housing at…

Q: How did Adam Smith justify the ethics of capitalism?

A: Adam Smith's theories are frequently regarded as the foundation of modern capitalism. He advocated…

Q: Consider the following oligopolistic market. In the first stage, Firm 1 chooses quantity q₁. Firms 2…

A: We are going to find sub-game Nash equilibrium to answer this question.

Q: The table shows the demand and supply schedules for sandwiches. What is the equilibrium price, and…

A: Efficiency is achieved where total surplus, sum of consumer and producer surplus is maximized

Q: List 5 distinct examples of public goods.

A: Public goods has properties of non excludable and non rival. Non excludable means goods could be…

Q: !

A: Given Information:

Q: 12

A: The wealth of the consumer or the producer refers to the current endowment along with the future…

Q: Leroy purchased an AI-based robotics system with the first cost of $345,000, an AOC of $148,000 per…

A: The annual worth is the net of the multitude of advantages and costs caused north of a one-year…

Q: Year 0 1 2 3 4 Cash Flow (A) -$350,000 25,000 70,000 70,000 430,000 Cash Flow (B) -$35,000 17,000…

A: Here we calculate the NPV , IRR and explain the reason for choosing the best by using the given…

Q: Suds and Duds Laundry washed and pressed the following number of dress shirts per week: Week 1 2 3 4…

A: We are going to calculate labour productivity to answer this question.

Q: % 5 The graph illustrates the market for Internet service Draw a point to indicate the market price…

A:

Q: Solve the problem. 28) A kitchen remodeling company determines that the marginal cost, in dollars…

A: Given, C'(x) = 7x-13C(x) = 7x-13dx Cost of installing d x feet.

Q: (d) What is the variable cost? ta What is the fixed cost?

A: since the cost of renting tuxes for choral societies formal is $19 down plus $85per tax. so, The…

Q: TC(q)= 4q^2 + 8. The market demand function is Q(p) = 800 - 15p, and there are 40 identical firms in…

A: We have given that  The total cost function of the firm TC(q)= 4q2+8               ...... (1) Market…

Q: c. to raise the standard of living for everyone in the country d. to allow consumers and producers…

A: Most countries began to abandon the concept of a free-market economy after the Great Depression.…

Q: Focus on, how did Diminishing Returns create a problem for MCD's drive-through order takers? How did…

A: Here, VC variable cost MC marginal cost  FC fixed cost TC total cost ATC average total cost AVC…

Q: Demonstrate by use of general classical equilibrium the effect of increased taxation in the economy

A: Equilibrium  When economic forces are in balance, there is said to be an economic equilibrium. In…

Q: Find all the Nash equilibria (both pure and mixed) of the following game, inter- preting the payoffs…

A: Nash Equilibrium  A player can obtain the desired outcome by sticking to their initial strategy,…

Q: Which of the following statements of fact about the role of the Canadian government in the economy…

A: Keynesian economists legitimize government mediation through open arrangements that expect to…

Q: The first question, 15., is not answered.

A: Given information: The free trade price is IP (i.e., 11), at this price, the domestic demand is 15…

Q: Suppose that Congress caps executive pay at a level below the market equilibrium. The graph shows…

A:

Q: 3. Draw a graph representing a hypothetical economy. Carefully label the two axes, the S+T+IM curve,…

A: saving doesn't rely upon income or production (particularly extra cash, public pay, or even total…

Q: Consider the market for cheese. Determine whether the following scenarios lead to a shift of the sup…

A: The supply curve depicts the quantity supplied of a good or service at each price level, keeping…

Q: For the following questions, consider the figure below. Initially, the economy is at the equilibrium…

A: The equilibrium wage rate is determined where the demand and supply for labor are equal.

Q: 10.. In general, economists do not like monopolists because they: A. Don't innovate enough. B.…

A: in perfect competitive market:- 1) in perfect competitive market, there are many number of sellers…

Q: 1. The growth rate of the money supply in a particular year was 8.5%. What was the growth rate of…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: CHOOSE THE CORRECT ANSWER, NO FURTHER EXPLANATION IS NEEDED  Freeconomics refers to: A) The fact…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Consider an OLG model where each person is endowed with y when young and nothing whe old with a…

A: an overlapping generations model (in short OLG model) is an improved theoretical portrayal of…

Q: A production function has two inputs, K and L. At the current time, at the current level of output,…

A: We are going to use marginal productivity analysis to answer this question.

Q: The average annual cost of damages caused by floods at Dona Rosario Village located along Butuanon…

A: Debt is something, generally, cash, acquired by one party from another. Debt is utilized by numerous…

Q: The El Dorado Star is the only newspaper in El Dorado, New Mexico. Certainly, the Star competes with…

A: The total profit is how much cash you have left over after you figure out all of your costs of…

Q: Combination D Pies 30 26 21 15 0 Flower boxes 0 1 2 3 4 5 Opportunity cost

A: When talking about opportunity cost, it is the implicit cost or foregone benefit of an individual…

Q: What are the functions of central bank in developed economies?

A: The top institution in the banking industry is the central bank. All other financial institutions…

Q: Suppose all players are equally productive. Team owners have a taste for discrimination against…

A: In this case, we have to talk about white and nonwhite players. In this case, nonwhite players are…

Q: f3

A: In the perfectly competitive market, firm produces where the P=MC. The price in the market is…

Q: Once more, consider the economy of Economia. If households started buying more houses and firms…

A: When talking about GDP, any change in buying behavior of households and firms will have a…

Q: Price (dollars per hamburger) 0 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 Quantity demanded Quantity…

A: Price is determined through market mechanism where demand and supply forces interacts and determines…

Q: Figure 3.2 Wage Rate ($ per day) 15- 10 5- Quantity of Labor $15; 30 workers 5; 30 workers 30 $5; 20…

A: The above graph shows labor market that determines equilibrium wage rate and number of workers…

Q: The graph illustrates the unregulated market for uranium. The mines dump their waste in a river that…

A: Marginal external cost (MEC) is the adjustment of the cost to parties other than the maker or…

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.