Q: For these examples you will be looking at the hamburger (a normal good) market. Identify the delermi...
A: Normal goods refer to those goods which show the positive relationship between income and demand for...
Q: United States (U.S.) France Soybean (tonnes) Wine (barrels) Soybean (tonnes) Wine (barrels) 1200 600...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: Q1. Bob has a utility function defined over goods 1 and 2: u(x1; x2) = min{6*x1 + x2, x1 + 2*x2} Co...
A: u(x1; x2) = min{6*x1 + x2, x1 + 2*x2}
Q: Define the following terms with explanation with an example of each 1.Scarcity 2.Opportunity cost
A: Economics is a social science that studies human behavior and help in making economic decisions. Sca...
Q: 4. True or False: The most importart thing that happens in the Relationship stage is gaining insight...
A: At the marketplace, customers are the primary participants to make economic activities as a producer...
Q: What is a real life example of what is happening at the 'cross' of the 'X', or where the labor deman...
A: A labour supply curve depicts the number of workers willing and able to work in a certain occupation...
Q: Which of the following assets is not subject to depreciation? O Office equipment O Computer unit O F...
A: Depreciation is a process of deducting the cost of an asset over its useful life.
Q: Assume a firm incurs overall labor costs of $22 per hour - which includes wages and training costs. ...
A: Labor market equilibrium is get where the labor demand and labor supply intersect with each other. I...
Q: What is the ordinary interest on P1,350.75 for 163 days at 3.5%?
A: Given information, Principal amount (P): P1,350.75 Time period (t): 163 days Interest rate (r): 3.5...
Q: In a market structure supply and demand determine prices and incentives are encouraged :Select one T...
A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is...
Q: When real GDP lies above potential GDP, what typė of experienced? (One word answer)
A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in ...
Q: Compute the risk premium of the following lottery assuming that u(x) = vx (16, 0.25; 4, 0.75)
A: We are going to find Risk Premium using Certainty equivalent to answer this question.
Q: Baseod on the Harrod-Domar model, a. economic growth depends on wise public investment decisions by...
A: Since you have posted multiple questions, we will answer the first question for you. If you want any...
Q: Price (dollars per bushel) 6 5 4 3- 2 4 5 Quantity (millions of bushels per year) 2 3 6 At harvest t...
A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity d...
Q: 66. Which of the following input factor takes risk, innovates and coordinates
A: Following are the factors of production: 1. Capital 2. Land 3. Labor 4. Entrepreneur
Q: Explain why administrative and compliance costs of taxation is important regarding taxation? What ar...
A: ANSWER Tax is a mandatory charge by the Government in order to fund public expenses and its own sp...
Q: Scott consumes only two goods, rice and soup. His preferences are complete, transitive, monotonic, a...
A: Answer: (C)Soup is definitely a normal good
Q: Question 6: Viet Tien Garment Company uses cotton fabric to produce men's shirts for export, other f...
A: In an economy, it is given that a firm uses cotton fabric to produce men's shirt and export it.
Q: us imagine that there is a country which displays the following statistics. C (Consumption) is one-h...
A: GDP measures the market value of goods and services produced within an economy in a given period of ...
Q: 57. The three broad types of productive resources are
A: To find : What are three types of productive resources.
Q: Vhich of the following accounts is classified differently from the others O Prepaid Rent D Owner's C...
A: Which of the following accounts is classified differently from the others listed
Q: Co. wants to launch a new p 500. enue function for the sale of l the maximum profit of the co
A: The firm will maximise profit at a point where marginal revenue is equal to marginal cost.
Q: tt wants to increase their marketing for Pedialyte leading up to St. Patrick's Day this ha Superbowl...
A: *Answer: Given information Ad cost=$5000000 at week 2/13/2022 Ad cost on 3/6=$800,000 Sales on 2/20...
Q: 3. Effects of rent control Rent controls force landlords to price apartments below the equilibrium p...
A: Rent control is the price ceiling that sets the maximum rent that can be charged. It is imposed to p...
Q: 1. Suppose that the equilibrium exchange rate between the United States and South African is 15.13 R...
A: Exchange rates are the prices of foreign currencies, which are determined in their respective foreig...
Q: D. As a result of an economic boom in Calgary, the average income increases from 2,800 to 7,700 per ...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: 3. Why is there unemployment in a labor market with flexible wages? Explair
A: The term unemployment refers to a situation when someone who is actively looking for employment is u...
Q: Opportunity cost is all about making choices and how you adequately and effectively manage it. What ...
A: ANSWER Introduction: Managerial economics is described as the discipline of economics concerned ...
Q: 3. Two vendors simultaneously choose a location. Then the customers choose the closest vendor to buy...
A: Given information There are 2 vendors on straight line 5 location exists for vendors to set up Each ...
Q: Year 1 Year 2 Employment (households survey) 5,100 5,200 Labor Force 6,000 6,100 Population 10,000 1...
A: The number of unemployed people in year 1 is given as: Number of people unemployed in year 1= Labor ...
Q: If a tax is placed on tires, then the equilibrium quantity of tires will i. decrease. ii. a deadweig...
A: Producer surplus refers to the area above the supply curve and below the price.
Q: A downtown bar serves a drink that UCSB students love. The profit-maximizing owner knows that any gi...
A: Total surplus is the summation of consumer surplus and producer surplus. Consumer surplus is the are...
Q: Consider the following totai cost function: TC = 1500 + 300Q - 36Q2 + 203 What is the quantity that ...
A: TC = 1500 + 300Q - 36Q2 + 2Q3 Differentiate TC w.r.t Q to get MC => MC = dTC / dQ => MC = 300 ...
Q: 10. All-Leather is a leather tanning company in Chicago. Its total cost function is C(QA) = 130 + 6Q...
A: C(QA)=130+6QA+2QA2
Q: A magazine publisher reports that their revenue function and cost functions (in thousands of dollars...
A:
Q: Utilize the provided goal post of the United Nations. Based on the given information: a. Life expect...
A: Given Information: Life expectancy(LEV) =67 years Adult Literacy= 68% Gross enrolment = 50% GNI pc= ...
Q: You deposit P10 000 into a 9% account today . At the end of two years , you will deposit P30 000 . I...
A: Deposit today = 10000 Interest rate = 9 %
Q: MICROECONOMICS ( ALL OF IT IS ONE QUESTION!!!) For the article which graph (1-12) best describes ...
A: In the given article, it is clear that demand for king-sized beds has increased rapidly after the CO...
Q: A student loan with a simple annual interest rate of 2.5% must be paid back in ten years. A student ...
A: Interest rate => 2.5% (simple annual interest) Time => 10 years Interest => P2000 Initial i...
Q: Matching Type. Write the correct letter from Column B to the corresponding answer in Col A. A B 1. T...
A: q n g d b c l ...
Q: Suppose a good costs $5. Then, the government imposes a $2 tax on the good. What will the after-tax ...
A: The exact value of the after tax price will depend on the steepness of the demand and supply curve. ...
Q: In Carpenter (2002) the influence of pressure groups is measured using: Select one: O a. The number ...
A: Pressure group: Pressure gatherings might address a strong minority force in the public eye and appl...
Q: In terms of the goals of macroeconomics, `stability" means O low inflation and low unemployment maxi...
A: Note:- “Since you have asked multiple question, we will solve the first question for you. If you wan...
Q: Pizza is a normal good if the demand a. for pizza rises when income rises. b. for pizza rises when t...
A: Demand is an economic principle that refers to a consumer's desire to purchase goods and services, a...
Q: 1. Suppose that, instead, a price ceiling of Pc = 10 is imposed by the government Find the equilibri...
A:
Q: Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. U...
A: Labor Cost = $22/hr Training cost = $160/hr Wage = $20/hr G = 1/Workers
Q: clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity...
A: Intra and intertemporal choice models Intertemporal choice is a phrase used in economics to describe...
Q: Consider the zero capital mobility framework. If the economy is in long-run equilibrium, determine t...
A: The amount of interest due every period stated as a percentage of the amount lent, deposited, or bor...
Q: "yy' y-..-... 2. Write down and briefly discuss the six Kaldor stylized facts about economic growth ...
A: Economic growth Kaldor factors have a significant impact on the interconnectedness of fundamental va...
Q: A) the government bears most of the incidence of a tax on gasoline. O B) sellers bear most of the in...
A: The industry is an important economic part that gives a closely related set of natural resources, go...
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- How is the social status and income of a consumer predisposes an individual to better health? (please do not copy answers on the internet, thank you)Qn 1. According to the News Wire “Inequality,” what is the average per capita income innations where the highest-income decile gets (a) over 45 percent of totalincome? (b) less than 30 percent of total income?The table below presents the system in the country of Boonton. The numbers indicate the percentage of income in that bracket that is taxed. For example, someone making $13,000 would be taxed 23% of that amount. Income Earned Tax % applied to that Income Under $15,000 23 $15,001 - $30,000 24 $30,001 - $45,000 25 $45,001 - $60,000 27 If a household in Boonton currently makes $20000, how much do they owe in taxes?
- The data in the table below shows the income of some random people in Massachusetts. If these were the only people in Massachusetts what is the average (absolute) difference in income among all the pairs? nаme Pre-tax income Mayor Wu $20 Tom Brady $120 Matt Damon $60100% Cumulative percentage of income 90% -Jарan 80% --- Portugal 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Cumulative percentage of households Figure 5 Lorenz curves for Japan and Portugal Examine the Lorenz Curves for Japan and Portugal shown in Figure 5. Which of the following statements are correct? Select one or more answers. Select one or more: O The top quintile (top 20%) of households in Portugal have a higher share of total income than the top quintile (top 20%) of households in Japan. The bottom decile (bottom 10%) of households in Japan have a lower share of total income than the bottom decile (bottom 10%) of households in Portugal. Portugal will have a lower Gini coefficient than Japan. Japan has a lower level of income inequality than Portugal.Question 11 The following income distribution data are for Lesotho: Quintile Lowest 10% Lowest 20% Second quintile Third quintile Fourth quintile Highest 20% Percent Share 2.2% 3.0% 7.2% 12.5% 21.0% 56.3% Carefully graph the Lorenz curve, labeling the axes. You should be able to draw a graph on your computer, save it as a graph, picture, or document, and upload that graph, picture, or document to your answer box. If you cannot do that, you can always draw a graph on paper, take a picture, and upload the picture to your answer box.
- N8 How does Brockie et al. connect ACEs, epigenetics, and health disparities for Native Americans? one paragraphWhy is it difficult to measure health outcomes?Consider the following table with individuals in a country and their incomes: Individuals Income 1 15 30 4 45 55 6 70 7 85 8. 100 115 10 130 Total 650 O The ratio of income received by the top decile to the bottom quintile is 3.5. O The ratio of income received by the top decile to the bottom quintile is 7.3. O The ratio of income received by the top decile to the bottom quintile is 4.3. O The ratio of income received by the top decile to the bottom quintile is 6.5.
- What is the relation between Health and Inequality?A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 $4000 is taxed from the top earner and transferred to the lowest earner Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the economy? Would it increase, decrease, or remain the same? Explain your answer. (Hint: does the marginal utility of income diminish as one earns more?)A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the…