To compute economic profits, which costs are used?

Q: Name a type of market failure and explain why this market failure results in economic…

A: Market failure, in economic aspects, is what is happening characterized by a wasteful conveyance of…

Q: Subsidies are   A. all of the other answers.   B. rewards for those receiving a positive…

A: Subsidies are paid by the government to owners of goods and services for various reasons. Sometimes…

Q: e difference between the top and the tom is 10 percent) what is the maximum ssible change in the…

A: The interest rate is the sum a bank charges a borrower and is a level of the head the sum advanced.

Q: (a) The reason firm's use non-linear pricing is to increase the firm's sales increase the firm's…

A: When talking about non-linear pricing strategy, it is the pricing strategy when firm do not set same…

Q: Health care expenditures now account for about __________percent of the American GDP.a. 5 c. 16b. 10…

A: In 2020 healthcare expenditure is 19.7 % in America

Q: Which of the following is goods market clearing condition?  A. Y=C+I-G B. Y=C+I-G C. G=T D. Y-C=I+G

A: Aggregate expenditure in closed economy is the sum of consumption, investment and government…

Q: An increase in the workforce can be expected to O a) increase the price level. b) increase long-run…

A: In Economics, workforce can also be known as the labour force which includes all the employed and…

Q: The Required Reserve Ratio is 25% for all banks. Assuming that all the customers that have…

A: Reserves refer to money on hand' in the world of business and finance, money that can be utilized…

Q: What are the possible monetary policy instruments and which one does the Bank of Canada use? The…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: What happens on the aggregate demand curve when there is a rise in the price level which causes a…

A: Answer-

Q: What is included in U.S. aggregate demand? a) all spending by consumers, firms, the government, and…

A: The curve that depicts quantities of goods and services being produced in an economy at various…

Q: Who doesn't love food trucks? Imagine you are being offered to invest in a food truck as part of a…

A: Given information First cost=$100000 Salvage value=$5000 O& M cost =$5000 Overhaul cost=$20000…

Q: If wages and prices are fully flexible, output gaps will automatically close in The Ling-Run The…

A: Short run refers to the period of time where at least one factor of production is fixed. Long run…

Q: The firm's fixed cost is $5 a day and its marginal cost is $1. The table below shows the demand…

A: Elasticity of demand  refers to the percentage change in quantity demanded due to the percentage…

Q: Keynesian economists believe that prices are sticky and slow to adjust, from which they conclude…

A: The macroeconomic economic theory of total expenditure in the economy and its consequences on…

Q: Bianca bakes delicious cookies. Her total fixed cost is $40 a day, and her average variable cost is…

A: Given the fixed cost = $40 AVC = $1 Selling price = $5 Number of units = 10

Q: Given the following information, what are the values of M1 and M2? Small time deposits $650 billion…

A: M1 = currency + Demand Deposits + other deposits + travelers check M2 = M1 + small time Deposit +…

Q: A short-run equilibrium above the potential output means that the unemployment rate is lower than…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Use the figure shown to answer the questions below Uz U3 U, 24 32 45 72 Income Currently the…

A: Given information Income=72 When accident income=24 Probability of accident=0.5625

Q: 5. Firms 1 and 2 compete on quantity with some product differentiation. They each have zero cost of…

A: In a simultaneous game both the firms optimize their own output taking other's output level as…

Q: Penalty point in soccer. Column Defend left Defend right Kick left 50, -50 80, 80 Row Kick right 90,…

A: To find the pure strategy nash equilibrium, we use the best response method, where we underline the…

Q: How does the United States fare on quality of care?

A: Answer is given below

Q: Why is it better to think of capital as physical items rather than simply money?

A: Production of goods and services occurs on a daily basis in any economy. Physical capital, often…

Q: Yearly demand for water by residents and businesses in the city of Black Bear Lake is equal to Qo…

A: According to the question, The yearly demand : QD = 2000 - 10P , where QD is millions of gallons…

Q: Consider a duopoly in which the marginal cost of every firm is $2. The market demand is: Q = 14 - P,…

A: Marginal cost (MC): - it is the additional cost incurred due to the production of additional units…

Q: 6) Fiscal crowd-out can be avoided by decreasing M when expansionary fiscal shocks are implemented.

A: Note: We are answering the first question out of 6-9 as the exact one was not specified. Please…

Q: Plant milk sales in the United States totaled $2.5 billion at the end of 2020, accounting for 15% of…

A: (i) Dairy milk and plant-based milk products are substitute goods because both are considered…

Q: Tollowing one-penod model. Consumer Utility function over consumption (C) and leisure (L) 11 U(C.L)…

A:

Q: Potential GDP 450 C+I+G+X-IM) E T 4,000 5,000 6,000 Real GDP (billions of dollars per year) In…

A: When there is an excess of total disposable income above the value of available items at a specific…

Q: 4. Show that in a two-person zero-sum game min max h(i, y) > max mịn h(i, j)

A: Two per son zero sum game is a one of the game type in which one players gain is the loss for the…

Q: Which of the following is the total demand for goods?  A. Y B. C+I+G C. C+I+G-T D. G-T

A: In an economy, total demand refers to the amount of goods and services required by the people of a…

Q: The U.S. government contributed to the severity of the Great Depression by O a) increasing both the…

A: The actions of The US government and the Federal Reserve contributed to the Great Depression. The…

Q: Describe the ways the various components of GDP were impacted by the pandemic? Plz do fast asap.

A: GDP refers to the total production of goods and services in an economy during a year. Components of…

Q: What are the health care reform options?

A: Health Care is the basic necessity of life.

Q: Q3) Taiwan is a major world supplier of semiconductor chips. A recent earthquake severely damage the…

A: Elasticity is a basic statistic for how responsive an economic variable is to changes in another…

Q: In the below graph, which of the following could cause a change from SRAS1 to SRAS2? Price level (P)…

A: Answer -

Q: Which of the following is the total demand for goods? A. Y B. C+I+G C. C+I+G-T D. G-T

A: Total demand for goods is the aggregate summation of all goods produced by the different sector of…

Q: economists were laissez-faire in their policy recommendations, having faith that the economy would…

A: Answer -

Q: What happens to aggregate demand (AD) if the price level rises? O a) The quantity of AD increases. O…

A: Aggregate demand refers demand of all the goods and services by the consumers in the society at…

Q: A sub-game perfect Nash equilibrium is defined as O A) a set of strategies that are a Nash…

A: Static game where players moves simultaneously. Dynamic game where players moves sequentially.

Q: [Mcdonald's, a big burger joint, is charging $5 for its very famous Big Mac hamburger and selling…

A: Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product…

Q: and their fix veek. The t BurgerHub rkers eek)

A:

Q: Discuss some products and markets that are good examples of Monopolistic Competition.  Like the…

A: Market refers to the place where all economic agents come together to carry out all their economic…

Q: Price and cost (dollars per pair) 150 MC 125- 100 ATC 75- 50+ 25- MR 100 200 300 400 Quantity (pairs…

A: Equilibrium is at the point where  MR = MC and MC will be upward rising.

Q: D9) Given current prices, Johnson spends all his free time on pursuing gold (x1) from Danny, which…

A: Given,  Marshalian Demand (X1,(P, I)  = I/P1 Hiksian Demand XH1(P1, U) = U/S

Q: An estimator that is correct (i.e., it is equal to the true population parameter ) more than half of…

A: In economics, an estimator refers to a specfiic variable used by the researcher to get an estimation…

Q: 5. The Bureau of Economic Analysis reported that, in real terms, overall consumer spending increased…

A: Given, Marginal propensity to consume (MPC) = 0.52 Consumer spending increased = $66.2 billion…

Q: Q) The market demand for the output is P= 80 - Q, where Q is the output level and P is the price per…

A: Given that:- Price of labor at the competitive equilibrium in the labor market…

Q: If interest rates increase in financial markets, then...

A: Interest rates are defined as the charges taken by the lenders for the money lent ti the borrower.…

Q: How can the existence of asymmetric information provide a rationale for government regulation of…

A: Asymmetric information is a situation the information possessed by the parties is not symmetric. In…