Below are some data from the productions of milk and honey. i) Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2008 as the base year. ii) Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2009 and 2010 from the preceding year.
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Below are some data from the productions of milk and honey.
i) Compute nominal
ii) Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2009 and 2010 from the preceding year.
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Below are some data from the productions of milk and honey.
i) Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2008 as the base year.
ii) Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2009 and 2010 from the preceding year.
- The market for fitness trackers is made up of five firms, and the data in the following table represents each firm's quantity supplied at various prices. Fill in the column for the quantity supplied in the market. Firm Price A 5 $25 50 75 m 7 9 100 11 Quantity supplied by: Firm Firm Firm B C D 0 3 5 7 10 2 5 8 11 3 co c 6 9 Firm E Market 5 6 7 8 Price of fitness trackers ($) 150- 125- 100- 75- 50- 25- 0 5 10 15 20 25 30 35 40 45 50 55 60 Quantity of fitness trackersA friend of yours is off to Paris to eat croissants at Laduree on Rue Royale Croissants Total value. EFTIRER ALLEZ MITS 1 2 3 4 3. Why does she eat more at lower prices? 5 6 7 8 2. How many will she eat at $10? How many at $4? $10.00 $18.50 $25.50 $31.00 $35.00 $37.50 $38.50 $38.00 1. What happens to her total happiness when she eats each additional croissant? Is it increasing/decreasing at an increasing/decreasing rate? Marginal ValueRefer to the figure and table to answer the following questions: Price (dollars per ounce) 0.50 0.45 0.40 0.35 0.30 2 0.25 0.20 0.15 0.10 0.05 ABCDEFG с H J A B с Point H to | = D E F G Price (per Ounce) $0.50 0.45 0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05 H 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity Demanded (ounces per show) 21 Quantity Demanded (Ounces per Show) 1 2 4 6 9 12 16 20 25 30 Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places. a. Compute the price elasticity between points C and D and points H and I. Point C to D = b. Compute the total revenue at points C, D, H, and I. At point C = $ At point D = $ At point H = $ At point I = $ c. If there is a price decrease, total revenue will increase when demand is (Click to select)
- TABLE 4-3 Price (per litre of gasoline) Quantity Demanded (thousands of litres) Quantity Supplied (thousands of litres) $1.60 600 1000 S1.50 700 900 $1.40 800 800 S1.30 950 700 S1.20 1200 600 $1.10 1500 500 $1.00 1800 400 S0.90 2100 300 S0.80 2400 200Question 6 At the price of $5 per pack of batteries, Duracell sells 10,000 packs of batteries and Energizer sells 15,000 packs of batteries. When the price rises to $7.50, Duracell sells 12,000 packs of batteries and Energizer sells 16,000 packs of batteries. What is the market supply at a price of $7.50? 12,000 16,000 4,000 28,000 25,000 Question 7 Social welfare (i.e. the sum of producer and consumer surplus) is maximized when the government taxes most goods and services. very few consumers and producers exist within a market the market reaches its equilibrium price and quantity. supply and demand are perfectly inelastic. the government imposes price controls. Question 8 When demand is perfectly elastic, the demand curve is vertical. upward-sloping. U-shaped.…PRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate some
- Price Price/costs 5 아이 00 g 우승 슭 엉 엉 엉 60 55 50 45 40 35 30 25 20 15 10 0 SE54AF1 60 55 50 40 35 30 25 20 10 5 0 1002003004005006007008009001000100200 Quantity per period B 1 2 3 4 5 6 7 8 9 10 11 12 13 Quantity per period a. What are the market equilibrium price and quantity? Equilibrium price: $ Quantity traded: MC AC b. At equilibrium, what quantity is the firm producing? What is its total profit or loss? Leave no cells blank - be certain to enter "0" wherever required. Quantity: Total profit or loss $e. Perform the follow tasks and calculations as they pertain to the graph. a. Show points A and B on curve D1 in the form of ordered pairs. b. Calculate the Slope for flights moving from point A to point B on the curve. c. Explain in “economic terms" your results. Please show all work as you will receive partial points.The table below shows the market for AA batteries in Tulsa, Oklahoma, when tornadoes threaten the area. Market for AA Batteries with Tornado Threat Quantity of Quantity of Batteries Batteries Demanded Supplied (packages) 100 80 60 40 20 Price (dollars) $15 13 9 7 5 (packages) 40 50 60 70 80 90 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Table 3.8 shows information on the demand andsupply for bicycles, where the quantities of bicycles aremeasured in thousands. a. What is the quantity demanded and the quantitysupplied at a price of $210?b. At what price is the quantity supplied equal to48,000?c. Graph the demand and supply curve for bicycles.How can you determine the equilibrium priceand quantity from the graph? How can youdetermine the equilibrium price and quantityfrom the table? What are the equilibrium priceand equilibrium quantity?d. If the price was $120, what would the quantitiesdemanded and supplied be? Would a shortageor surplus exist? If so, how large would theshortage or surplus be?10) Refer to the graph shown that depicts a third-party payer market for prescription drugs. If the co-payment is $2 per pill, what will be the total market expenditures on prescription drugs? Price $8 4 2 A) $30 ⒸB) 590 C) 5270 D) $540 15 30 Supply 45 Demand 60 QuantityThe following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)