What will be the marginal cost if the change in total cost is $55 and Change in quantity is $60.

Q: 5. Opportunity cost and production possibilities Eleanor is a talented artist who sells hand-crafted…

A: PPF stands for "Production Possibility Frontier." It is a graphical representation used in economics…

Q: Question 16 Which one of the following statements is correct? a) Under monopolistic competition,…

A: Monopolistic competition is a market structure in which there are many firms selling products that…

Q: Suppose that a decrease in the price of good X results in fewer units of good Y being sold. This…

A: Two goods are said to be substitute when they can be used in place of one another. Two goods are…

Q: You are a pricing manager at Argyle Inc.—a medium-sized firm that recently introduced a new product…

A: Profit maximization is an economic concept that refers to the process by which a business or firm…

Q: Which of the following statements regarding this economic model are true? Because, in reality, the…

A: It can be defined as a simple form of representing a model. Basically this model shows interaction…

Q: Analyse Australia's economy in 2023 using the Mundell Fleming model and derive and draw the…

A: The Mundell-Fleming model is a framework that analyzes the interaction between monetary and fiscal…

Q: O.A.P. 1 Owner's Policy, defines "newly acquired automobile" to be automatically covered when…

A: The Owner's Policy  also known as the Automobile Policy - Part I  is a type of insurance policy that…

Q: 11) Which country has had a recent surge in per capita gross domestic product (GDP) after many years…

A: Per capita GDP, on the other hand, takes into account the population of a country. It is calculated…

Q: Consider a company that operate a pulp mill whose sulphurous effluent and wood waste materials…

A: The given problem is to effectively handle pollution externalities while minimizing transaction…

Q: Mr Johnson spends R60 in the morning on Gautrain from Centurion to Sandton. In the afterno same trip…

A: Elasticity concepts depict the change in behavior of consumers and sellers due to changes in price…

Q: Consider a consumer that consumes 2 teaspoons of sugar with each cup of coffee. For each cup of…

A: It can be defined as the  quantitative measure of an individual level of satisfaction and preference…

Q: The law of demand states that, other things equal, when the price of a good rises, the quantity…

A: The quantity of a good or service that a buyer is willing and able to purchase over time at a…

Q: Game theory is: a) a view on the development of children's games and toys. b)the analysis of…

A: Game theory refers to a branch of mathematics and economics that studies strategic decision-making.…

Q: The rate charged by banks with excess funds is referred to as the interbank offered rate; they will…

A: The Interbank Offered Rate (IBOR) is the rate at which banks are willing to lend to one another in…

Q: What is the producer surplus after the government levies the $20 sales tax on each yellow bell…

A: Sales tax is a tax that is imposed by the government on the sale of goods and services. It is…

Q: Given the marginal propensity to consume = .75 and marginal propensity to import = .15, then we…

A: The spending multiplier refers to the magnified effect on the overall economic output or income…

Q: What is the total benefit associated with producing four units of the control variable, Q (identify…

A: The overall positive outcomes and gains that result from a particular decision, action, or project…

Q: Analyse the macroeconomic factors relevant to Mīhī's launch strategy and the implications of such…

A: Macroeconomic factors cover broad economic elements that can influence a country's economy and in…

Q: ppose the price of acai bowls were to fall to $1.50 per bowl. At this lower price, Jake would…

A: The difference between what a customer is prepared to pay to meet his or her needs and the initial…

Q: Use the diagram below which illustrates the imposition of a minimum wage W...in a perfectly…

A: Labor market is a place where employers demand labor and workers supply labor. The intersection of…

Q: Consider a market where the inverse demand function is P = 400 – 20Q, where Q is the aggregate…

A: The bertrand competition is form of oligopoly where the prevailing firms compete on prices. In this…

Q: A government agency is having problems with personal telephone calls made during working hours.…

A: A firm will continue hiring workers upto the point where marginal benefit from the additional unit…

Q: Julie, who has $64, consumes only two goods: whistles (w), which cost $6 each and xylophones (x),…

A: Utility is the satisfaction which is derived from the consumption of goods and services. The utility…

Q: The demand for good X is given by Qd = 6,000 – 1/2 Px – Py + 9Pz + 1/10 M Research shows that the…

A:

Q: Derive the marginal revenue (MR) equation if total revenue (TR) = f(Q) = . 608 1-40 OA. -16808…

A: Total Revenue is the term used to describe the whole amount of money made from the sale of a…

Q: The figure below shows the hypothetical domestic supply and demand for baseball caps in the country…

A: An import tariff stands as a tax applied to goods brought into a country from abroad. It falls under…

Q: At zero distance sprinted, your recovery time is zero. As you sprint further (x), your recovery time…

A: In economics, recovery time typically refers to the period it takes for an economy to return to its…

Q: In 1990, the town of Ham Harbour had a more-or-less free market in taxi services. Any respectable…

A: The concept of a competitive equilibrium pricing is an important intersection between supply and…

Q: 4- Leo manages a receiving station for rice. Farmers deliver their loads of rice with a rate of 150…

A: Person L is in charge of a station that receives farmer deliveries of rice at a rate of 150 tonnes…

Q: Does the fact that public decisions are sometimes made by self-interested politicians and…

A: The part of an economy that is owned, controlled, and operated by the government or state entities…

Q: The following diagram illustrates the impact of an increase in demand. Which of the following…

A: Demand is the desire backed by a willingness to pay and the ability to pay by an individual. the…

Q: Explain what would happen to long-run growth if instead the production function for ideas is À = A(1…

A: The Romer model of economic growth is an influential economic theory that focuses on the role of…

Q: Consider the utility functions below of two individuals, A and B, and bundles of goods Q and R.…

A: The utility function refers to all those commodity bundles that derive the same amount of utility…

Q: Given the following information about the domestic supply and demand for T-shirts, graph domestic…

A: The following table represents the quantity supplied and demanded given specific prices. Price…

Q: Given: (x is number of items) Demand function: d(x) = 8160 – 0.3x² Supply function: s(x) = 3x Find…

A: Consumer Surplus: The monetary difference between the price that consumers are willing to pay for a…

Q: Problem 3 Consider an economy with two goods only. Use Slutsky decomposition for good 2 (Ar₂ = Ar +…

A: We can define The Slutsky decomposition as the decomposition that  breaks down the change in the…

Q: What type of automobile insurance should you offer to the owner of a business who does not own an…

A: Automobile insurance is a contract between insured and an insurance company where you pay a premium…

Q: elect one: 3 4 5 6 7 8 a 6 shakes and 0 burgers Ob. 5 shakes and 1 burger 1 shake and 1 burger d. 6…

A: All commodity bundles that provide the same amount of utility after consumption are referred to as…

Q: The diagrams show movements from position X to Y on production possibility frontiers. which one of…

A: PPF stands for the production possibility frontier. It is a graphical representation of all possible…

Q: Profit Model) The demand for airline travel is quite sensitive to price. Typically, there is an…

A: Revenue maximization is an economic concept that refers to the strategy employed by a business or…

Q: Compare the interest earned by $10,000 for three years at 7% simple interest with interest earned by…

A: Simple interest is a method of calculating interest where the interest amount is calculated solely…

Q: Identify a news item that you would like to discuss. This could range from traditional news headline…

A: According to the guidelines, direct URL links to articles cannot be added to the answer. Therefore,…

Q: This question asks you to compute the market equilibrium price, where demand and supply are given by…

A: Market equilibrium price is the point at which the quantity of a product or service supplied by…

Q: right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas…

A: Producer surplus is the difference between the market price and the minimum price a producer is…

Q: Click here for the Excel Data File a. Determine a linear trend line for expected freight car…

A: Given,Freight car loadings over an 18-week period at a busy port are as…

Q: The government is considering levying a tax of $25 per unit on suppliers of either windbreakers or…

A: An excise tax when collected from sellers shifts the supply curve upward by the amount of the tax.…

Q: In the binary voting model with two alternatives, dictatorship of voter 1 (D1) is a rule that makes…

A: Neutrality:Neutrality is a fairness criterion in voting theory that states that the voting rule…

Q: 35. Suppose the government opens the border to free trade in widgets and foreign suppliers have a…

A: Market equilibrium is a situation where the price at which quantities demanded and supplied are…

Q: Draw the demand curve in the market for medical care. (Include the horizontal axis should represent…

A: Consider how health insurance affects the quantity of healthcare services performed. Suppose that…

Q: Complete the following table, given the information presented on the graph. Result Equilibrium…

A: Government intervention occurs when the government intervenes in the marketplace with the intent of…