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A: Rational expectation theory suggests the economic agents have full information about the economy, th...
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A: 1. The purpose of the premise or premises is to set forth the reasons or evidence given in support o...
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A: To find : What is another name for unit cost.
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A: Consumer price index (CPI) is the weighted average of the prices of the basket for goods and service...
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A: The Marginal Product (MP) refers to the addition made to Total product at each level of output. The ...
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A: Equilibrium Price Equilibrium price refers to a price level at which market demand is equal to the m...
Q: Circular flow of production process
A: Introduction Circular flow used to show how the economic activity works in an economy. There are two...
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A: Answer: Price ceiling: price ceiling refers to the maximum limit on price imposed by the government....
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A: The aggregate supply slope is upward sloping which means that the price of goods and supply of goods...
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A: The activities which depict making money through the production and selling of products to consumers...
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A: Solution(a):- When the price ceiling of $700 i.e. above the equilibrium price is implemented, it is ...
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A: Marginal benefits are the greatest sum a customer will pay for an extra decent or administration. Th...
Q: Firms L and M are the only two providers of a homogenous output in a market with inverse demand give...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
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A: In an economy, when talking about low inflation rate, it is the situation when economy is having eno...
Q: 5. Which statement relates to macroeconomics?
A: To find : Which statement is true regarding microeconomics.
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A: Marginal effect measures the change in dependent variable due to change in independent variable.
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A: The curve that depicts the various quantities of goods being demanded by individuals at various leve...
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A: A cost-benefit analysis is a systematic process used by businesses to determine which decisions shou...
Q: sumes bread and automobiles. In the following table are data for two different years. 2000 2010 Good...
A: a. Year 2000 2010 Nominal GDP 100*50000+500000*10=$10000000 120*60000+400000*20=$15200000 ...
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A: Marginal cost refers to the change in total cost with respect to change in output. Variable cost is ...
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A: The Keynesian viewpoint is concerned with aggregate demand. The concept is simple: businesses only p...
Q: If a monopoly firm sells a product with price $100, whose marginal cost is $30, what is the price/ m...
A: Please find the answer below.
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A: Monopoly refers to the type of market where only one individual controls all the supply or productio...
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A:
Q: market consists of groups of buyers and sellers of a good or service. Market equilibrium represents ...
A: The equilibrium is established where the demand and supply forces are equal. The change in the deman...
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A: We have been given that: Wages (w) = 100Rent (r) = 400 Three methods: Method 1: 50 of L + 10 of KMet...
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A: Indifference curve An indifference curve refers to a combination of two goods that provide the same ...
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A: Here, it is given that the base year is 2018, and quantity of tea and coffee are same in both the ye...
Q: The first costs of an equipment is P 65,000 and a salvage value of P 3,000 at the end of its 6- year...
A: Cost of equipment = 65000 P Salvage value = 3000 Time = 6 years
Q: are some government strategies u ase exports?
A: Outflow of goods and services from one country to another is known as export.
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A: The utility function implies donuts and coffee are perfect complements and consumed in fixed proport...
Q: Profit is maximum when
A: To find : When will be profit maximum.
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A: The introduction to the question rightly mentions that "a market consists of groups of buyers and se...
Q: Drawing on John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guid...
A:
Q: 12. Excise tax is a part of
A:
Q: Distinguish between production efficiency and allocative efficiency. Explain why many production pos...
A: Production and allocative efficiency are different concepts and have varied characteristics regardin...
Q: The first costs of an equipment is P 65,000 and a salvage value of P 3,000 at the end of its 6- year...
A: Given Cost of equipment = 65000 P salvage value = 3000 P Time= 6 years Depreciation Method = sum of ...
Q: A certain company sells its product at (45 – 0.08x) pesos per unit. Variable cost per unit is P 25 w...
A: TR(TOTAL revenue) is the product of P(price) and x(quantity). TC(TOTAL cost) is the sum of fixed and...
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A: Budget constraint refers to the different combinations of two goods that a consumer can consume with...
Q: 5. Suppose we want to estimate the effects of alcohol consumption (alco- hol) on college grade point...
A:
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A: Given: Quantity of A=10 Quantity of B=20 Quantity of Z=10 Note: Due to multiple subparts being poste...
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A: The health-care system that provides insurance and services to its members. The traditional HMO is ...
Q: Small “Mom and Pop firms,” like inner city grocery stores, sometimes exist even though they do not e...
A: Economic profit is the difference between the total revenue received by the firm and its total impli...
Q: Which of the following is directly implied by an industry having many small firms producing homogene...
A: A industry where larger number of sellers selling homogenous products will have the same price det...
Q: 1. In a homogenous good Bertrand duopoly model with complete and symmetric information the Bertrand ...
A: In a homogenous good Bertrand duopoly model with complete and symmetric information the Bertrand pa...
Q: . What are the ways in which the chocolate industry can help in the socioeconomic development of Wes...
A: There are many products that are produced in West Africa, Cocoa is one of the important products tha...
Q: Q3. There are two firms selling differentiated products. Firm A faces the following demand for his p...
A:
Q: Assume a monopolist faces a market demand curve P = 100 - 2Q and has the short-run total cost functi...
A: Monopoly is a single firm in the market selling unique good. This gives monopoly the power to charge...
Q: A. Define a "discouraged worker" B. Indicate what may be happening in the economy when the unemploym...
A: Answer: A. Discouraged workers: Discouraged workers are the unemployed workers who have stopped look...
List five typical attributes that an entrepreneur should have.
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