Which of the following is a macroeconomics question?Select one:O a. Why does a firm decide to enter a particular market?Ob. Should the government prevent the merger of two large firms?Oc. Should we have a constitutional amendment to balance the federal budget?O d. Should the government put a tax on alcohol in an attempt to reduce highway fatalities?

Macroeconomics is the study of the large aggregates of the economy or the economy as a whole whearas…

Answered: Which of the following is a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Market structures For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario A large city has lots of small shops where people can buy sweaters. Each store's sweaters reflect the style of that particular store. Additionally, some stores use higher-quality yarn than others, which is reflected in their price. Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery. Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enough customers to share among four or more airlines without each one…
4 No production in the short-run and positive production in the long-run Suppose that the marginal cost curves in the short-run and in the long-run are identical for a certain firm, and that the short-run average cost curve is below the long-run average cost curve. Then for a certain price, we can show that the firm wants to produce in the short-run, but not in the long-run. In this question, we will investigate whether a reversed situation is possible. Consider the following production function: Q = L³K². The wage for labor (L) is w = 1. The cost of using capital (K) has two parts: the first is the rent that the firm needs to pay capitalists (r = 2), and the second is the maintenance cost (m = 2). The firm can change labor and capital in the long-run, but it can change only labor in the short-run. Thus, the long-run economic cost with (L,K) is wL+ (r+m)K, while the short-run economic cost of running the firm is wL + mko for given capital Ko. (Here we are implicitly assuming the…
The models below have been estimated using monthly data for the period 2000: 1-2020: 12. The natural logarithm of the variables used in this model is taken and the transaction is made. D08 is the dummy variable that takes a value of 1 in 2008 and after and 0 in other periods. s.e. indicates the standard error. Comment on the coefficients of variables D08 and (X2t * D08) in the model (3) above.
Profit is the incentive that drives our market economy. Firms make production, pricing, andhiring decisions based on their quest for profit. But what happens when a firm discoversthat it can make dramatically higher profits by stopping production altogether? In December2000, due to wild swings in the market for electricity, Kaiser Aluminium faced just such adecision.Kaiser Aluminium had contracted with Bonneville power for all of its electricity needs andfound itself in the unique position of being an electricity consumer and, potentially, anelectricity reseller. By December 2000, Kaiser faced a difficult decision of continuing itscurrent aluminium production and profit levels, or closing the plant to dramatically increaseits profit by simply reselling its electricity.When making production decisions, firms must consider both their costs and revenues. Oneimportant concern for many firms is utility costs. In 1996, Kaiser Aluminium Corporation inSpokane, Washington, entered into a…
Which of the following most directly decreases profits if nothing else changes? O Changing your wardrobe O Giving your workforce a raise O Reducing costs O Lowering price
2. On the other hand, the General Motors went on a different direction. General Motors was founded in 1908 and one hundred years old company. Following the financial crisis in 2008/2009, General Motors filed for chapter 11 bankruptcy protection. After support from the US government and restructuring, the business operation was able to re-enter the market. In your ECON 200 class you learnt the conditions at which the firms enter and exit from the market. Using a graph describes how and when in a perfectly competitive market the firms that are experiencing economic losses close the operation and reenter to the market. In the graph you may use costs and revenue curves.
The owners of four companies competing for a contract are shown in the table below. If a report is released that advocates company B, which of the people having funded the report should result in the most skepticism? Company Owner of Company Company A Jake Adams Company B Debby Smith Company C Henry Rose Company D Rhonda Baker
9. The Shellfish Shack produces only shrimp and oysters. The table below shows the maximum possible output combinations of the two types of shellfish using all resources and currently available technology. a. b. C. Possible Output Combinations A B C D E F G H Shrimp (thousands of pounds) 35 30 25 20 15 10 5 0 Oysters (thousands of pounds) 0 20 35 47 57 64 68 70 Suppose The Shellfish Shack is currently producing at point E. What is the opportunity cost of producing an additional 11,000 pounds of oysters? Suppose The Shellfish Shack is currently producing at point E. What happens to the opportunity cost of producing more and more shrimp? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table. Suppose The Shellfish Shack is currently producing at point B. What happens to the opportunity cost of producing more and more oysters? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table. d. Suppose The…
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Please solve 9 ,10 and 11
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