Economics Question

Q: as prices an accurate measure of a goods total value? are prices an accurate measure of a goods marg...

A: Any goods bought at any price, the marginal value equals the price. This is the reason that the poin...

Q: Sodium-sulfur batteries are potentially a substitute for lithium batteries.  Carbon is often used al...

A: If the price of sodium-sulfur batteries decrease, then the price(P) of lithium batteries also will f...

Q: hello, I need help with my homework  The Principle of Diminishing Returns Apply the principle of di...

A: The Law of diminishing return, also known as the Law of variable proportion, operates in the short r...

Q: The country of Sylvania produces and consumes only three​ goods: Red​ Bull, pizza, and​ T-shirts. Th...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: a Wednesday. The table below displays your only alternatives (that are mutually exclusive) and some ...

A:

Q: 1. What is meant by Diamond Water paradox?

A: The utility is a want satisfying power of a commodity. Marginal utility is the additional utility ga...

Q: For each of the following absolute values of price elasticity of demand, indicate where the demand i...

A: Elasticity of Demand:  Elasticity of demand refers to the responsiveness of the quantity demanded to...

Q: What posssible social advantages of price increases arise in the following cases? a. Charging higher...

A: ANSRaising the price of a good will make the good costlier and thus it will reduce the consumption o...

Q: Economics Question

A: The Consumption-leisure model is a micro-founded model of aggregate consumption and labor supply cho...

Q: Explain it correctly all subparts

A: 2018 is the base year The price index of 2019 = Basket value in 2019 X 100/ Basket value in 2018

Q: > Explain Income Elasticity of Demand = % Change in Quantity Demand / % Change in Income; + relation...

A: Income elasticity of demand refers to the percentage change in the demand for goods and services due...

Q: Do you expect firms in perfectly competitive industries to have high profits in the short run? Why o...

A: The perfectly competitive market is a form of market where unlimited no of buyer and seller exist, w...

Q: QUESTION 2 Reinforcement is the key element in Skinner’s theory. A reinforcer is anything that stren...

A: F. Skinner was an American psychologist who developed behaviorist theories to explain an individual'...

Q: Assume a restaurant operates from 11 a.m. to 11 p.m. seven days per week.a. How much capacity does t...

A: Capacity means the ability or calibre to do or complete any task. Capacity differs from person to pe...

Q: Q.1.2 An appreciation of the rand against the dollar: choose the correct answer(a) Will worsen the c...

A: Rand is an official currency of country SA. The appreciation of it against dollar will worsen the cu...

Q: A consulting engineering firm wants to make a preliminary cost estimate for the design/construct of ...

A:

Q: Define marginal rate of substitution.

A: The marginal rate of substitution(MRS) is a very technical word in economics, defined as the substit...

Q: Define economies of scale

A: Economy of scale is a microeconomic term used as an important element of productivity growth. Produc...

Q: Q.1.1 Kenya has a comparative advantage over Uganda in the production of sugar if it: choose correct...

A: According to comparative advantage theory, every country can enter into trade even the country has n...

Q: According to Figure 15.4, by what percentage did GDP per capita increase between 1820 and 1995 in  N...

A: Percentage increase in GDP between the period of 1820 and 1995 can be calculated as follows: % incre...

Q: Is the claim that lower company taxes adding to investments correct or is it debatable given the pre...

A: A government collects tax revenue in different ways such as income tax from households, corporate ta...

Q: Economics Question

A: Answer: Given values: Old price (P1) = $1.75 New price (P2) = $1.25 Old quantity (Q1) = 250 New quan...

Q: Show how the budget constraint affects utility maximization.

A: Answer: Introduction: A consumer maximizes his/her utility by choosing the bundle of goods that give...

Q: Why is the cross-price elasticity of demand positive for substitutes? [

A: By the concept of the cross-price elasticity, the responsiveness in the quantity demanded of one com...

Q: Of the economic goals listed, which do you value most?  Rate from a scale of 1-6; 1 being most and ...

A: Ranking 1. Economic freedom 2.Economic efficiency 3. Economic stability 4. Economic growth 5. Econom...

Q: The revenue cost statement for a popular grocery store owned and operated by John Mathew is presente...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Consider a simple economy that produces two goods: pencils and oranges. The following table shows th...

A: Part 1 According to question given that, the data of three years for the production of pencil and or...

Q: Define the four ecconomic resources (the factor of production).How are they Relevant to the producti...

A: Economic resources or factor inputs are used in production of output. These are also known as factor...

Q: what is the difference between macro and micro economics?

A: Economics: Economics is concerned with all the economic activities arising out of scarce resources a...

Q: Which would be more difficult to forecast 10 years fromnow: the number of 60-year-olds or their aver...

A: For forecasting, we use past data to predict future data.

Q: Your mother states that lowering interest rates in the recessionary COVID-19 period is good policy b...

A: Answer: Introduction:  The statement says that lowering interest rates in the recessionary COVID-19 ...

Q: Please answer the following questions.1. Explain the factors affecting Demand.2. Explain the differe...

A: "Since you have asked multiple questions, we will answer only first question for you. If you have ot...

Q: Producer surplus measures: A.     The same thing as a market or quantity surplus B.      The differe...

A: ANS The producer surplus (PS) is obtained by subtracting the price level at which the producer actua...

Q: If the price of a haircut is $15, the number of haircuts provided is 100. If the price rises to $30 ...

A: Elasticity refers to the responsiveness of one variable to changes in another variable; given that t...

Q: To make sure he has enough energy for the teaching, Ernie spares $60 every week tospend on Blue Bull...

A: Given: Budget, M = $60 every week Price of Blue Bull (Px) = $2, Price of Gigantic (Py) = $3

Q: 1.Predict the impact on equilibrium price and quantity for the relevant markets given the following ...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Make up and example of a monthly demand schedule or pizza, and graph this demand curve, and briefly ...

A: Demand schedule refers to the table that shows the demand for good at different price level. Below t...

Q: Select one or two examples of an industry characterized by monopoly and discuss how each example con...

A: A monopoly is a market structure characterized by the existence of a single firm as the producing ag...

Q: What are three textbooks definition of economics?

A: Economics is a science that studies the efficient production, allocation, and distribution of scarce...

Q: Solve all three subparts correctly. From both the figure

A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first question...