It is a "need" imposed by the culture industry to the masses. reflects the consolidation of commodity fetishism, the domination of exchange value and the ascendancy of state monopoly capitalism. O a. real needs O b. true needs O C. c. false needs O d. basic needs

Q: 20. JF the price was set at $6, how much of the product would be sold? $8 Supply $6 $4- Demand $2- 0…

A: Equilibrium reaches at the intersection of demand and supply curves, that is where quantity demanded…

Q: If the government establishes a price floor, O A. suppliers will be squeezed out due to increased…

A: A price floor is a government-mandated minimum price set above the equilibrium price in a market,…

Q: Knowledge is an example of a Select one: O a. common resource. b. private good. c. public good. d.…

A: Four different classifications of goods in economics are private goods, public goods, common…

Q: If ED = -4, then: O A. a price decrease of 1% will decrease quantity demanded by 4%. %3D B.a price…

A: Price elasticity of demand measures the responsiveness of quantity demanded for a good due to…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Equilibrium is the state in which market supply and demand balance each other, and as a result…

Q: When a price floor is established below the equilibrium price, it results in Select one: O A. the…

A: Price floor is a government imposed policy to regulate the prices in the market.

Q: Suppose that government imposed a binding price ceiling on some good and subsequently demand for the…

A: Price ceiling is the maximum price that can be paid. It is imposed to protect buyers against high…

Q: Price per Unit 10 O O O 8 Select one: Oa. 4.5 units b. 6 units c. 9 units d. 8 units Supply 0 From…

A: EquilibriumThe equilibrium point is the point of equality of demand and supply of goods. The seller…

Q: When the interest rate increases, the opportunity cost of holding money a. decreases, so the…

A: In the mentioned question, we have been asked about the relationship between interest rate and the…

Q: None

A: This problem involves several key concepts from the field of microeconomics, specifically related to…

Q: "The world gasoline market is rigged. Look, we just saw a 5% decrease in the supply of oil and the…

A: Demand is price inelastic when a change in price causes a smaller percentage change in demand. It…

Q: The figure shows the market for college education. The efficient quantity of education is Price and…

A: MB- Marginal benefit shows marginal private benefit  MSB- Marginal social benefit  Good with…

Q: A price floor Select one: a. always results in a surplus. O b. always results in a shortage. results…

A: A price floor is generally imposed by the government to provide minimum support price to the…

Q: The government decided to increase the age at retirement to 70 years old, which lowers the value of…

A: Increasing the retirement age have both positive and negative influence in the economy.

Q: Which of the following are reasons that market prices might not reflect true social costs? O…

A: Monopoly is the reason that market prices might not reflect true social costs.

Q: The 2019/20 Australia Bushfires affected food production nearly in New South Wales, Queensland and…

A: The price elasticity of demand  is associate economic datum that measures the rise within the amount…

Q: Assume Home and Foreign countries both produce the same good. a. Home's demand curve is D =…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: 1. Suppose that the US economy is currently at full employment (Real GDP = Potential Real GDP = $15…

A: Disclaimer :- as you posted multipart questions we are supposed to solve only the first 3 questions.…

Q: A quota rent is: O levied as a fixed charge for each unit of a good imported. O a quota on trade…

A: In international trade, a quota is the government-imposed trade restriction that limits the quantity…

Q: Premium: $300, Standard: $15 Essentials: $10 and Free. Which package represents the anchor price? O…

A: The anchor price refers to the price that states that the customer will be accepting the first price…

Q: The economic entity most likely to engage iin price gouging is a) an individual or business who has…

A: Price Gouging : The strategy of price gouging can be explained when the retailers and others take…

Q: A tariff is a tax imposed on good. O a) an imported O b) the most popular Oc) a luxury O d) d) an…

A: Tax means the source of revenue for the government.

Q: C. sticky price.

A: When the demand increases and the supply remains the same, the price in the market rises. This is…

Q: Question 3 D-G I don’t see how this relatedness to previous questions. How does Thisbe relate and…

A: d.The temporary worker program proposed by the US government leads to the increased supply of…

Q: A decrease in consumer incomes will: O a. decrease the demand for an inferior good. O b. decrease…

A: The problem is to determine how a decrease in consumer incomes affects the economic behavior related…

Q: Which of the following could cause the shift from $1 to S2 ? O A. A decrease in the number of…

A: A good's supply is the quantity produced and made available for sale by producers at various prices…

Q: Suppose the residents of country P consume only peaches and pecans. The table below shows the prices…

A: The residents of country P consume only peaches and pecans.  The market basket consists of 10…

Q: The opportunity cost of producing another unit of butter is 14 12 C 2 3 Butter Select one: O a.…

A: Given :  Two goods are produced in the economy, guns and butter.  Opportunity Cost is the value of…

Q: Greebies cost $100, and then the government puts a $50 sales tax on Greebies. (This means the tax is…

A: Sales tax refers to the tax imposed on consumption of goods and services by the government. It is…

Q: If the only goal is to ensure that the gas that is available will be purchased by those consumers…

A: When government decides to influence market condition, it uses various rules and regulations to…

Q: Question 22 A price ceiling is binding when it is set O b. above the equilibrium price, causing a O…

A: A price ceiling refers to legal maximum price that can be charged for the good. Firms can not set…

Q: Best choice

A: Market demand refers to the collective demand of all the goods and services in the market at any…

Q: All changes saved 2. Which of the following were problems within the Eastern European economy once…

A: Here, it is given that the Soviet union make demand for manufacturing products from Eastern European…

Q: QUESTION 7 When salaries decrease, what does happen in the market? O a. Total surplus decreases. O…

A: In a market, when taking about salary of an individual,it can be said that it affects the supply and…

Q: The opportunity cost of obtaining more of any scarce good is Select one: O a. always measured…

A: Goods and services are available in limited quantities in an economy because of scarcity of…

Q: A productive-efficient society O a. can produce more of one good only by producing less of another…

A: A productive efficient society is the society which is utilizing its resources efficiently. Which…

Q: Q. Use the mid-point approach to calculate the price elasticity of demand for rice in Australia.

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: The money supply has decreased from $2.75 trillion to $2.25 trillion. Which of the following could…

A: Bank holds fewer reserves then the money supply increases as the banks lend more money and it…

Q: QUESTION 9 When the price is above the equilibrium it causes O a quantity supplied to exceed…

A: When Price is above equilibrium it causes increase in supply.

Q: A shortage exists in a market when: Select one: O a. quantity demanded quantity supplied O d.…

A: When market price is lower than equilibrium price, quantity demanded (Qd) increases but quantity…

Q: To say that the supply curve is upward sloping to the right means that a. Producers will provide…

A: Microeconomics studies the economic behavior of individual units such as a market, a firm, a…

Q: QUESTION 7 A market will experience a when the price is below equilibrium and a _when the price is…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: QUESTION6 Which of the following statement is false? OA. International business opens markets to…

A: International trade is the exchange of goods and services between countries.

Q: Why does equilibrium in the market for a traded good not occur where that country's quantity…

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

Q: Although the Center was able to induce some farmers to introduce the new system, these farmers…

A: Price Floor:Price floors are government-imposed minimum prices that are set above the equilibrium or…

Q: Mark's budget constraint is AB. It would pivot to AC if the price of Select one: O a. O b. cassette…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Refer to the figure at right. Which of the following is a proper value for Z on the vertical axis?…

A: We have the following demand and supply equation stated on the graph:Demand equation: Q = a -…