You plan to purchase a car for $28,000. Its market value will decrease by 20% per year. You have determined that the IRS-allowed mileage reimbursement rate for business travel is about right for fuel and maintenance at $0.505 per mile in the 1st year. You anticipate that it will go up at a rate of 10% each year, with the price of oil rising. influencing gasoline, oils, greases, tires, and so on. You normally drive 15,000 miles per year. Your MARR is 9%. What is the optimum replacement interval for the car? years

Q: A poor family chooses between hours of child care per day, Q, and all other goods per day. At the…

A: A lump sum subsidy refers to a form of government support provided to businesses or individuals in a…

Q: Below is a graph of an individual firm in a perfectly (purely) competitive industry. Adjust the…

A: Long run profit maximization condition for a perfectly competitive firm is given as:  => P = MR =…

Q: The following diagram shows the market demand for titanium. Use the orange points (square symbol) to…

A: Under perfect competition a firm always produce at the point where P = MC and marginal cost (MC) is…

Q: The following graph gives the labor market for the fast-food industry of the imaginary city of…

A: The point where the supply and demand curves converge is equilibrium. If the quantity required…

Q: You are a college sophomore who tutors fellow classmates in your free time for extra money. With…

A: Earning by tutoring=2000 per year for 3 years If takes training Training cost=6000 and not able to…

Q: Gains and Losses from Trade in the Specific-Factors Model Use the information given here to answer…

A: In the specific-factors model, the impact of changes in prices on factor payments can be determined…

Q: Suppose the central bank for the Island Nation of Somberio creates a new currency and issues…

A: The money multiplier is the amount by which the money supply increases for every unit increase in…

Q: Problem statement: → The line labeled D, in the graph to the right shows the number of cups of…

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…

Q: (a) The compounded future value of Amy's 401(k) plan is $ 64517.763 million. (Round to three decimal…

A: Here we can use the formula: FVGA=P[(1+r)n-(1+g)nr-g] Here given that P = the first payment = $2,100…

Q: Yunqin always gets twice as much satisfaction from an extra burger as he does from an extra Bo uice.…

A: A consumer is indifferent between any two combinations of two goods when it comes to making a choice…

Q: Table 13-1 ABC Bank Balance Sheet Assets Liabilities Reserves $25,000 Desired $20,000 Excess 5,000…

A: Banks provide a reliable and secure system of payment that guarantees a seamless flow of payments…

Q: According to the reading Rethinking the Funnel for the Omnichannel Age, the traditional consumer…

A: The traditional model of consumer decision-making, which has long been depicted in a funnel shape,…

Q: Answer the next questions on the basis of the following national income data for the economy, where…

A: Profits refer to the financial gain or benefit that a company or individual receives after deducting…

Q: The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your…

A: The aggregate demand refers to the total demand for all the finished commodities produced in an…

Q: This tax would be less effective in reducing the quantity of gasoline consumed if the demand for…

A: Every commodity's price elasticity of demand will be elastic if there are several substitute…

Q: Suppose inflation is higher in South Africa over the next few months than in foreign countries, and…

A: Inflation: Inflation refers to an overall rise in prices of all goods and services over a period of…

Q: The table below summarizes the comparison between four mutually exclusive alternatives using the IRR…

A: The Internal Rate of Return (IRR) is a financial metric used in economics to estimate the…

Q: In 1996, a group of American doctors called for a limit on the number of foreign-trained physicians…

A: The variables of demand and supply are what make up that impact the connection between sellers and…

Q: units of pharmaceuticals, but the socially optimal quantity of pH To create an incentive for the…

A: Social cost refers to the cost suffered by society as a result of any specific economic activity or…

Q: 2. Calculate the social welfare loss due to following conditions. profit-maximising monopoly pricing…

A: Price charged for good P=$10 The value of output at MR=MC is Q=100 units  and marginal revenue =$5…

Q: The City of San Antonio is considering various options for providing water in its 50-year plan,…

A: The concept of present worth is based on the principle that the value of money changes over time due…

Q: Real rate of interest R D1 S D2 Quantity of loanable funds Assume that the market for loanable funds…

A: The equilibrium in the money market is set up when the demand and supply are equal.  The change in…

Q: Suppose that the world price of oil is $32 per barrel and that the United States can buy all the oil…

A: The amount of goods or services (here, crude oil) that consumers (here, oil consumers) are willing…

Q: 58 Instructions: Enter your responses as a whole number. a. Identify the line that depicts total…

A: Total Income = Wages + Benefits  62 - 64 year old person is eligible for 15000 Social Benefit . Wage…

Q: ustomer's inverse demand is knows the marginal cost of each rental is $0.64. If they use block…

A: According to the question: P = 6.07- 2.1QMC = $0.64

Q: Total surplus is elect one: a.always smaller than producer surplus. b.the total value of the good to…

A: Total surplus is the summation of consumer surplus and producer surplus.

Q: 4. Shifts in production possibilities Suppose the fictional country of Haleakala produces two types…

A: PPF stands for Production Possibility Frontier or Production Possibility Curve. It is a graphical…

Q: Application 1.7, In fall 2006, Pace University in New York raised its annual tuition from $24.750 to…

A: The tuition fee in 2005 was $24,750. Tuition fee in 2006 raises to $29500 Enrollment in 2005 was…

Q: Macy's, Kmart, JCPenney: More Retailers Closing Brick-and-Mortar Stores As more people choose online…

A: The internet revolution has brought about significant theoretical and practical implications for…

Q: What is economics and why is it a relevant subject?

A: Economics is the study of putting the scarce resources to the best possible use that would increase…

Q: How would a positive economist MOST likely approach the question of increased taxes? a. Poll a…

A: There are two types of economics: Positive economics and Normative economics. Positive economics…

Q: he graph below models an economy in equilibrium with a real GDP of $180 billion. Suppose that…

A: Planned Aggregate Expenditure (PAE) is a macroeconomic concept that represents the total planned…

Q: Imagine that you run the toll authority for a city bridge. You must charge all of your customers the…

A: Elasticity measures the responsiveness of quantity demanded with respect to change in price. Total…

Q: Economics questions

A: The price elasticity of supply (using the midpoint formula) between points A and B can be calculated…

Q: An individual's current income is $50,000 the person expects next period (future) income to be…

A: The budget constraint is the locus of all affordable consumption bundles at the given income of the…

Q: The residents of the town Ectenia all love economics, and the mayor proposes building an economics…

A: Demand = 11 - P Variable Cost = 0 Fixed Cost = $2,400,000   As per our guidelines, we are supposed…

Q: Rafe is optimally choosing to consume 6 apples and 3 bananas. The prices of apples and bananas are…

A: As the first order condition for the utility maximization problem is :  MRS = Pa / Pb  As, Pa = 7…

Q: Suppose the Fed sells $500 billion in government securities and the reserve ratio is 0.2. Calculate…

A: Reserve ratio is the percentage of deposits banks must hold as reserves.

Q: Consider a scenario of a closed economy in the short run where price level is fixed. Assume that…

A: Consumption reflects the total expenditure made on the goods and services consumed in an economy.…

Q: Government-imposed taxes cause reductions in the activity that is being taxed, which has important…

A: Equilibrium quantity and price is determined where market demand is equal to market supply. The…

Q: Complete the table by calculating the "New Market Quantity Supplied" if Ann decided to stop…

A: Equilibrium means a state of balance where the supply and demand for a specific good or service are…

Q: In most "normal" years (years in which the market has not been disrupted by Middle East wars), at…

A: A cartel is a group of independent firms or producers that join together to coordinate their…

Q: onomy where there are no taxes and no international trade. Households spend $0.90 of each additio If…

A: Oversimplified multiplier= 1/(1-MPC) MPC= 0.9 Oversimplified multiplier= 1/(1-0.9)= 1/0. 1…

Q: Following the price level increase, the quantity of money demanded at the initial interest rate of…

A: Effect of Real GDP on Money demand: When in the economy, the real GDP increases that means more…

Q: 8. Use the graph below to answer the following questions: 20 Figure 3 38 53 The market price = $5,…

A: In a competitive market, where a firm is a price taker, the profit-maximizing level occurs where…

Q: .) the value of the first hectare of this park is equal to .) the socially-efficient size of this…

A: Socially optimal efficiency refers to a state in which resources are allocated in a way that…

Q: a) As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a…

A: PPP , or  Purchasing  Power Parity, is a measur of GDP that  takes into account the differences in…

Q: If the utility function of an individual takes the form: U=U (x, y) = (3x+4)2 (2y + 5) where U is…

A: Given Utility function: U=U(x,y) =3x+422y+5 Here U denotes utility, x, and y are the quantities of…