Assume that an economy has 500 workers, each working 1,500 hours per year. If the average real output per worker-hour Is $20, then total output, or real GDP, will be Multiple Cholce $3 million. $5 million, $25 million. $15 million.

Q: What are the benefits of considering the economic decisions?

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: I need help in solving this question because I'm not sure it's right?

A: The United State federal government passed the American Recovery and Reinvestment Act in 2009 was to…

Q: Identify some essential elements common to any rational decision-making process?

A: Rational decision making is a complex process that contains nine essential elements. These are as…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: heeds to make an additional repair, which will cost another $400, in order to make the guitar worth…

A: here we can find the answer of given question by following method given below;

Q: what are four goods and services that people consumed on an average day

A: The ultimate good that a company makes and sells to the customer is referred to as a consumer good.…

Q: Why is this answer different to the other answers for the same question?

A: Cournot model is an economic model wherein contending firms pick an amount to create freely and all…

Q: Which of these is a guideline for making a decision? Guaranteed gain Marginal cost is less than…

A: Optimal decision making requires optimum utilization of resources in order to attain certain level…

Q: Full form of GATT?

A: GATT was a legal agreement that was signed in1947 by 23 countries. It sought to reduce the barriers…

Q: What is the matter economic

A: Discussing the "matter" of economics involves exploring its fundamental components and core…

Q: I need to understand how to come up with the answers for the table. This explanation does not help…

A: Equation of a budget line is given by: Income = Px*X + Py*Y Where Px is the price of Good X and X is…

Q: are needs that we learn during our lifetime. Multiple Choice Ethics Ideals Desires Wants Values

A: Individuals tend to have certain needs and want in order to live a life they tend to desire or wish…

Q: Goods that can be used to replace one another are called What?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: I asked this question but didn't receive a response. How do I answer this? I believe my answer is…

A:

Q: I can't see the answer for question 2.

A: Here we have to draw 2 new production possibility frontiers.Shift in Production Possibility Curve: A…

Q: On what are the Economic decisions based?

A: Economic decisions are the decisions made by the economic agents to pursue a goal and achieve a…

Q: can i have an explanation for each answer

A: Total Cost: Total Cost is computed through the formula that is, Total Cost = Fixed Cost + Variable…

Q: what is the final answer?

A: According to solution: NPV of Machine 1= -$81786 NPV of Machine 2= -$83271 NPV of Machine 3= -$83906…

Q: Definition of want

A: Economics is the study of efficient allocation of resources. The resources in the economy are…

Q: Explain complex economic concepts to a reporter through an email pitch.

A: Hi [Reporter's Name],I hope this message finds you well. I would love to discuss two key economic…

Q: Could you please give me full detailed answer?

A: A pizza company runs its business in a franchisee mode and has decided to conduct a $1 promotion for…

Q: Write an introduction and conculsion to this essay?

A: Economic reforms are planned adjustments and actions taken by governments to enhance the efficiency…

Q: How about for number 14

A: Equilibrium is where the demand curve intersects the supply curve.  The exchange rate shows the…

Q: What is the solution to question 6? I really need help with that one.

A: The amount of gas the buyers would be willing to purchase would drop if it turned out that 50% of…

Q: Why does knowing the facts help people maximize their choices

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Not all of the questions were answered I was wondering if the rest could be answered for me.

A: International trade is defined as all the economic transactions in between the Teo countries is…

Q: Behavioral economics incorporates insights from which other field of study? A. Psychology B.…

A: Behavioral economics is an interesting and moderately present-day field that has arisen at the…

Q: How do answers A and B differ?

A: In this case, we see the term average cost of a firm where average cost is actually getting by…

Q: A pharmaceutical corporation has developed a unique new drug, making the company a monopoly. Demand…

A: For a monopoly, profit maximization occurs at the point where MR equals MC

Q: Suppose you go to a restaurant and buy an expensive meal.  Halfway through, despite feeling quite…

A: This is an example of sunk cost. As the cost of the meal is already incurred and thus, cannot be…