Q: Consider the lottery x=(: 80, 20, : 30). Assume : RDU with u(a) = a and w(p) =p2. What is the rank…
A: Given information Lottery has outcome 80 with a probability of 1/6 20 with a probability of 1/3 30…
Q: Consider the investment function of the IS model. Suppose that in the long-run 20% of GDP is spent…
A: When a person expects future monetary benefits he/she does some kind of allocation of money which we…
Q: Which of the following is not part of the M2 money supply? currency in circulation. credit card…
A: M1 consists of checkable deposits , cash and currency in circulation and travellers checks. M2…
Q: 1. Please explain why the marginal revenue curve for a perfectly competitive firm is horizontal.
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Suppose the quantity demanded falls, relative to the values given in the above table, by 20 million…
A: In order to depict the relationship between quantity and price in aggregate demand—the entire amount…
Q: 1. Give an example of trade policy when it comes to sugar in the Caribbean?
A: A government's agreements, rules, and practices that influence commerce with other nations are…
Q: (2) Suppose a firm employs labor as its only variable input. All workers are paid P100 per day.…
A: Here, it is given that each worker is paid P100 per day and there is only input variable due to…
Q: 10. Recently, some college alumni started a moving service for students living on campus. They have…
A: Production refers to the process of producing goods and services using inputs such as capital and…
Q: SCENARIO: Greater consumption of alcohol leads to more motor vehicle accidents and, thus, imposes…
A: Social efficiency quantity means that resources should be distributed in a way that benefits all of…
Q: We are given the following information for UWI Land. At the start of the period, there are 334,250…
A: Given, Number of Employed = 334,250 Number of Unemployed = 15,750 Not in Labor Force = 150,000…
Q: A risk neutral insurer offers to insure an individual with a wealth of 25 dollars against a loss of…
A: Given information Initial wealth=25 Loss=21 For A-- Loss probability=0.33 and no loss=0.66 For B ---…
Q: How can Universal Basic Income be implemented in Afghanistan suceelfully ?
A: A universal basic income (UBI), often known as a universal, unconditional, and monetary…
Q: Panel (a)
A: Government tax subsidy - If the government decrease the tax rate then it is called government tax…
Q: Which of these tax systems does not conform to the idea of vertical equity? a. GST. b. A flat…
A: Vertical equity refers to an approach of tax collection wherein the taxes paid will be increasing…
Q: Briefly explain the “Glass Steagall Act” and its repeal and its impact on the Financial Sector and…
A: The banking institution plays a pivotal role in the financial system. The people of an economy put…
Q: 11. The diagram below shows a profit-maximizing monopolist's cost and revenue * curves; the firm…
A: Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…
Q: Which of the following is true when there is a tax imposed in a market with perfectly inelastic…
A: A product is said to be "completely" inelastic if it has an elasticity of zero. In other words,…
Q: How will each of the following scenarios impact the market for money The central bank conducts an…
A: Money market equilibrium is where the money demand curve intersects the money supply curve.…
Q: 1.(a). Calculate the point "motorboat" price elasticity of demand when Py = $10000. Use Qs…
A: Price elasticity measures the change in quantity due to change in price. Income elasticity…
Q: b. How is a long-run average cost curve different from a short-run average cost curve? How are they…
A: The LRAC curve represents/depicts the AC(average cost) per unit of output(Q). It is also the…
Q: U.S. Census Bureau statistics show that the annual earnings for persons with a high school diploma…
A: Annual earnings for high school diploma holder person=$35220 Annual earnings for college degree…
Q: International economics is theory that helps explain how the real world works. Is this true or,…
A: Economics: Economics is the study of scarcity. It shows how it affects how resources are used, how…
Q: 5. A television set is available on an easy installment plan. The down payment is P 3,000 and the…
A: Down payment of the television = 3,000 Amount of each instalment = 500 Interest rate = 6% compounded…
Q: O c. Increase
A:
Q: Amir and Beatrice play the following game. Amir offers an amount of money x = [0, 1] to Beatrice.…
A: Given information Let's take There are 2 player Amir and Beatrice Let's take Amir---A Beatrice ---B…
Q: Suppose that for every hour worked in the labour market, single mothers use an hour of childcare,…
A: The two policies' combined effects on the number of single parents working in the UK are as follows:…
Q: The Competition Act. Provide an example of when it might be used.
A: In India, business competition is governed by the Competition Act, 2002. Formerly known as the…
Q: Study the table below and answer the question that follows. Afghanistan US Carpets 100 500 Fighter…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost is used to…
Q: IDENTITY THEFT LIABILITY. With the recent hacking of Equifax, identity theft is on the rise. It is…
A: The terms "identity theft" and "identity fraud" are used to describe any forms of crimes in which…
Q: Two bidders compete in a sealed-bid auction for a single indivisible object. For each bidder i, the…
A: Let the valuation of two bidders be : b1 & b2 Also the their valuations for the bid be : v1…
Q: 5. If a monopoly takes over 100% of a market previously operating under perfect competition, the…
A: Pure monopoly occurs when a firm is a single seller of a good and service in an industry . So it…
Q: WAGE (Dollars per hour) 16 14 12 10 co co 2 0 Supply Demand 0 200 400 600 800 1000 1200 1400 1600…
A: Surplus is the condition when the quantity supplied is greater than the quantity demanded. Shortage…
Q: ohn Kenneth Galbraith saw modern capitalism as A.dominated by large enterprises and…
A: Macroeconomics refers to the branch of economics that deals with the economy as a whole. For…
Q: If the MPS in an economy is .4, government could shift the aggregate demand curve leftward by $50…
A: Aggregate demand consists of consumption spending , investment spending , government spending , and…
Q: The figure presents the demand curve, marginal revenue, and marginal costs facing a monopolist…
A: A monopoly is a single firm in the market producing unique good with no competition.
Q: 1. (%) Find the critical values, test the second-order condition, and calculate for maximur profit.…
A: In economics, profit maximization refers to the short-run and long-run process by which a business…
Q: The October 17, 2022 edition of The Wall Street Journal included an article titled “New England…
A: A method to define economic equilibrium in microeconomics is to simply look at the price at which…
Q: How will each of the following scenarios impact the market for labour Worker preferences change so…
A: The representative consumer values two goods: leisure and the consumption good. The marginal rate of…
Q: SITUATION: FEDERAL RESERVE EXPANDING THE MONEY SUPPLY Suppose the Federal Reserve decides that it…
A: The MS(money supply) is a macroeconomic variable controlled by the Central bank of a country. It…
Q: State of Economy Probability T-Bills Phillips Pay-up Rubber-Made Market index Recession 0.2…
A: Given, State of the economy Probability T-Bills Philips Pay-up Rubber-Made Market Index…
Q: 2. You have developed a self-study certification system for those who need credit hours for…
A: The amount of people that purchase at the given price would determine the individual pricing that…
Q: Continued monetary tightening 05 October 2022 The Monetary Policy Committee today increased the…
A: To find the impact of monetary policy tightening by other central banks on the growth of New Zealand…
Q: The ideas of the Mercantilists are alive today. Which of these would a modern day Mercantilist agree…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 17. Which of the following two factors helped growth in FDI in developing countries a.…
A: Foreign direct investment (FDI) is a part of capital investment in foreign nations. Any country,…
Q: What do free riding, the open access outcome, and congestion of a public good all have in common?…
A: Market failure refers to the condition where the market fails to achieve the socially efficient…
Q: 35. If the domestic price of commodities in a country is above the world price, that country will be…
A: Export is the supply of good to foreign country. Import is the purchase of good from foreign…
Q: Coins in people's pockets and purses are: included in M1, but not in M2. included in both M1…
A: M1 consists of Coins and currency in circulation , travellers checks , checkable deposits. M2…
Q: a When he gets the opportunity to do so, Faizan increases the amount of capital his workers have…
A: The production function consists the combinations of inputs that can give maximum production. The…
Q: The kinked demand curve is a non-colluding oligopoly. Explain
A: An oligopoly refers to a form of a market characterized by a lesser number of firms who realize they…
In an economics text book, given TSS= 437 and RSS = 291, calculate the ESS and the R-squared
Step by step
Solved in 3 steps
- i need help with this question 5 from my microeconmics assigments. i have already gotten it wrong twice.What are the three specific desirable characteristics of an estimator?Calculate the percentage change of the variable in each of the following cases. Then calculate the percentage change if the movement is occurring in the opposite direction, with what was the final value now the initial value and vice versa. Now calculate a comparable percentage change using the average of the initial and ending values. Express all three changes in absolute value form without positive or negative signs and as whole numbers (i.e. 67%, not 66.6%). a. A fast-food restaurant, which originally sold hamburgers at a price of $5, increases their price to $6. The absolute value of this percentage change is %, and the absolute value of the percentage change calculated using the average of the two values is %, the absolute value of the percentage change in the opposite direction is %. b. The number of autos sold monthly at a car dealership drops from 400 to 300. The absolute value of this percentage change is %, the absolute value of the percentage change in the opposite direction…
- What is logisticI have a question regarding the last graph that you did. I cannot shift the SRAS like you did. Check the two ScreenShots that I attached. Which one will be correct one ?As the selling price of a product increases, demand decreases. Fewer people will buy a product if it is more expensive. This is a very important concept. The demand equation for new iSmarts is given by 0.025x , where p is the unit p = 100 price (in dollars) of the iSmart and x is the number of units produced. We can determine the total revenue (money earned for selling x iSmarts) by multiplying the number of items we sell, x and the price p. The total revenue obtained by producing and selling x iSmarts is given by = xp 100x – 0.025x². It makes sense that this function is quadratic. The company can price the iSmarts so high that no one will buy them and the revenue will be zero. The can also set the price to $0, but the revenue will still be $0, no matter how many iSmarts they "sell". In between, the graph is a parabola opening downward. Determine prices p that would keep revenue above 6530 dollars. Give your answers to 2 decimal places. The revenue will be above 6530 if price is…