Q: Table 1: Market for Skis Qs P 0 20 40 60 80 Qd 25 20 15 10 5 100 0 0 0 4 8 12 16 20
A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…
Q: QUESTION 14 Refer to the information provided in Figure 3.8 below to answer the following…
A: The demand curve in economics is a graphical representation of the relationship between the quantity…
Q: The protection of private property makes it so that Multiple Choice A. people must consume the…
A: Protection of private property: One of the biggest role of the govt is to provide private property…
Q: Could you solve question D as well
A: The term "LM" stands for the Liquidity-Money Supply framework, an economic model that depicts the…
Q: Airline is a monopolistically competitive market with different name brands such as United Airline,…
A: A monopolistically competitive market has many firms selling products that are similar in nature but…
Q: Consider the Economist article: "Wild Horses" April 20th 2011…
A: An economic challenge is a circumstance or problem that prevents an economy from operating,…
Q: If the demand in a market is Q = 63 – 4P and the supply is Q = -3 + 3P, then what is the equilibrium…
A: Equilibrium in the market is achieved at the point where quantity demanded is equal to quantity…
Q: The population is 2000 people with 700 people being unemployed. 10 stricturally unemployed, 200…
A: Unemployment refers to a state where an individual is actively seeking work but is unable to find…
Q: 3. An office equipment cost P25,000 brand new. It has an estimated salvage value of P1,500 at the…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: In terms of economic development, which of the following countries is presently considered to be a…
A: Countries are classified between two groups, i.e., developed and developing based on various factors…
Q: In the US, we have a mixed economy. You can find severa examples of a market capitalist economy, a…
A: Economy refers to the system of production, distribution, and consumption of goods and services…
Q: Refer to the diagram to the right. The closed-economy equilibrium price is $14. The world price is…
A: Tariff revenue refers to the money collected by a government from the imposition of tariffs on…
Q: Last week Sara’s income was $12 a week. The price of popcorn was $3 a bag, and the price of a…
A: Real income is the income of consumer measured in terms of any good. Opportunity cost shows the…
Q: 2. Answer the following questions based on the information given below: Autonomous consumption = $10…
A: Aggregate expenditure is a sum of consumption spending, investment spending, government spending and…
Q: Differentiate the function. 기 dx y= || 6 30
A: The derivative of a function refers to the rate of change. The derivative of the variable “y” with…
Q: The End of Years cash flow are expected to be P10,000 for second year, P20,000 for the third year,…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Assume an ecomy operates in the intermediate range of its aggregate supply curve. State the…
A: When an economy operates in the intermediate range of its aggregate supply curve, the shape of the…
Q: Part 4-Stretch Your Thinking-Read the 1978 Milton Friedman quote regarding Japan was unfairly…
A: Part 4) Globalization today, is defined as the process of tying and connecting the societies of the…
Q: Egypt authorities faced significant health and economic policy challenges during the COVID19…
A: (i) A fall in confidence can lead to a decrease in consumption and investment expenditure. Consumers…
Q: Gouge-em Cable Company is the only cable television service company licensed to operate in Backwater…
A: The yearly rate of return is the % change in the value of an investment. For example: If you assume…
Q: Research Report Topic: Effect of food prices increase on the lower class in a town Based on the…
A: Economic analysis is the process of looking at and assessing how an economy produces, distributes,…
Q: investigate how the assumption of a binding borrowing constraint can lead to a violation of…
A: Ricardian Equivalence suggests that changes in government spending have no effect on the overall…
Q: The graph below shows real GDP levels over time. Answer the following questions based on this groph.…
A: As per John Maynard Keynes, business cycles occur as a consequence of swings in aggregate demand,…
Q: r each situation below, state whether it is an example of the income effect changing quantity…
A: The income effect reffers to the how increase in income of individual can change the quantity of…
Q: Labour (Workers per week) Output (Surface Boards per week) 1 30 2 70 3 120 4 160 5 190 6 210 7 220…
A: Labor productivity is the measure of the amount of output (here, surfboards) produced by a given…
Q: A New Yorker travels to New Jersey to buy a $100 telephone answering machine. The New Jersey company…
A: The balance of payments (BOP) is a summary of all economic transactions that took place over a…
Q: Use the process of comparative statics to analyse the following changes in market conditions for the…
A: Demand is defined as the willingness of a consumer to buy something, whereas supply is the total…
Q: The demand and supply in the market for textbooks are described by the following equations: Q D =…
A: Market equilibrium is a state of balance that exists when demand and supply are equal, and the price…
Q: 7. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in San Francisco.…
A: Total cost is the sum of fixed cost and variable cost. Fixed cost remains fixed at all level of…
Q: special-purpose machine tool set would cost $20,000. The tool set will be financed by a $10,000…
A: Marginal tax revenue is the additional tax revenue generated from a small increase in the tax rate.…
Q: The BAT model: Computes the fixed costs of securities trading based on the current U.S. Treasury…
A: The correct statement regarding the BAT (Balance-Adjusted Transaction) model is: It can be used to…
Q: Required information Milford Industries provides medical equipment to oncology and surgical units in…
A: Given, IDC allocation for three departments Production, subassemblies, and final assembly is given…
Q: Upjohn Company’s hair regrowth product, Rogaine, required a prescription. It retailed for…
A: Elasticity is a measurement of a variable's receptivity to changes in other variables. Price…
Q: Year Wage Rate Hours Worked 1 $69 2 $71 3 $101 4 $138 5 $107 11 31 65 120 88 What is Real Income for…
A: According to the question it is given that : Number of years Wage rate Hours worked Nominal Income…
Q: Consider four mutually exclusive alternatives: A B C D Cost $65 $55 $25 $80 Uniform annual benefit…
A: Payback period is a financial metric used in economics to determine the length of time it takes to…
Q: Colombia is the world’s biggest producer of roses. The global demand for roses increases and at the…
A: Foreign exchange market reffers to that global market system in which currencies are bought and sold…
Q: Is the observed behavior of marginal cost in any way related to the law of diminishing returns ?…
A: The additional expense incurred by a company or business in producing one more unit of a good or…
Q: Assume that the price of silk ties in a perfectly competitive market is $21 and that the typical…
A: In a perfectly competitive market, the price is determined by the market so the firm can not set the…
Q: What is the relationship between the supply and the price?
A: Quantity supplied and supply: The supplied quantity of any commodity reflects the minimum amount of…
Q: Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the…
A: The production possibility curve refers to the different combinations of two goods that can be…
Q: In the model of monopolistic competition, if firms have ________ average cost curves, then opening…
A: A monopolistically competitive market is one where many firms sell differentiated products to make…
Q: How does GNP compare to GDP when: earnings of foreigners and foreign firms in the United States…
A: GDP is the gross domestic product. GNP is the gross national product. GNP is calculated as :- GNP…
Q: Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous…
A: When a repayment is made, the credit balance in the account is decreased. Also, the balances of the…
Q: You are required to use the following topic, which will guide your research, in Trinidad: Rising…
A: Introduction:Food prices in Trinidad have been on the rise in recent years, leading to concerns…
Q: Describe and provide examples of the "balanced-budget philosophy", " the countercyclical…
A: Budget is the statement of the government revenue and expenditure. The government budget most…
Q: Two investment projects are being evaluated based on their payback periods. The first alternative…
A: To calculate the discounted payback period, we need to find the present value of cash inflows and…
Q: When you are creating a budget should you use your gross pay or net pay?
A: A personal budget is a financial strategy developed by an individual to control their income and…
Q: Required information Alamo Power historically allocates IDC for its safety program to generation…
A: Optimum allocation refers to the efficient distribution of resources in a way that maximizes their…
Q: Consider preferences for cookies (on the x-axis) and ice cream bars (on the y-axis) for different…
A: the indifference curve refers to the curve that is drawn as a downward-sloping convex to the origin.…
Q: An engineer deposits $10,000 into an account when the market interest rate is 10% per year and the…
A: The value of a currency or income in terms of its capacity to buy goods and services is referred to…
Not for profit hosptials, do they eliminate the need to have a for-profit hosptial?
Step by step
Solved in 2 steps
- WHY SOME FIRMS MIGHT BE ABLE TO CONTINUE TO MAKE AN ACONOMIC PROFIT IN THE LONG RUN?A small town with a movie theater has 300 adults and 200 seniors. The theater is considering putting on a special one-time screening of a new movie. This screening has a fixed cost of $2,000, but the marginal cost of selling an additional ticket is zero. According to a survey, all the adults and seniors would be willing to purchase the tickets at $7 and $4 respectively. a. What prices would the movie theater charge for an adult ticket and for a senior's ticket if it wanted to maximize profit? Explain and calculate the profit. b. Suppose a law is passed that prohibits the movie theater from charging different prices to adults and seniors. What price would it set for a ticket now? What is the profit? c. Who is worse off because of the law prohibiting price discrimination? Who is better off? d. If the fixed cost of the concert was $2,500 rather than $2,000, how would your answers to parts-(e) change?What can financial ratios tell us about the performance oforganizations?
- Why do the demand and marginal revenue curves coincide?Fill in the columns in the following table. What quantity should a profit-maximizing firm produce? Verify your answers with marginal reasoning. TFC TVC MC Price TR TC Profit $10 $0 $20 1 10 12 20 2 10 20 20 3 10 25 20 4 10 40 20 5 10 65 20 10 100 20 6Fill in the columns in the following table. What quantity should a profit-maximizing firm produce? Verify your answers with marginal reasoning. q TFC TVC MC Price TR TC Profit 0 $10 $0 $20 1 10 12 20 2 10 20 20 3 10 25 20 4 10 40 20 5 10 65 20 6 10 100 20