would you rather maximize your total utility or your marginal utility?

Q: On the market of good Y there are 70 identical consumers. Each consumer has a demand function…

A: In a two-part tariff, a monopolist charges two types of fees, namely: 1. Access fees/ Fixed fees 2.…

Q: How does perfect competition lead to allocative and productive efficiency? Perfect competition leads…

A: The correct answer is given in the second step.

Q: Do you think that higher education in engineering should receive a greater government subsidy…

A: Education plays a very significant role in increasing the cognitive skills, efficiency and knowledge…

Q: The average propensity to save is 0.39 Calculate saving if income is $650

A: We have:- APS = 0.39 Income = $650

Q: What are the 3 basic economic problems? Briefly

A: An economic problem is one that arises as a consequence of a scarcity of resources and requires…

Q: During a​ recession, the Part 2 A. cyclical rate of unemployment is positive. B. cyclical rate…

A: Answer: Cyclical unemployment: cyclical unemployment occurs due to changes in the business cycle.…

Q: In Investment in Human Capital (1962) paper by Gary Becker, what were his key findings and why was…

A: Most people associate capital with a bank account, a hundred shares of IBM stock, assembly lines,…

Q: Draw the AD/AS graph for the situation being described Explain one monetary policy action to correct…

A: Recession is a period when economy's real GDP is less than full employment.

Q: On the standard Phillips curve diagram, why do both the Y axis (unexpected inflation) and the X axis…

A: The Phillips curve indicates that the level of unemployment and the rate of inflation are inversely…

Q: 1. In the year 1980, when Thatcher came to power in UK, inflation was .. and unemployment rate was…

A: UK inflation as per official data was 18 % in 1980   Uk Unemployment data

Q: Discuss the tools used by the government to regulate natural monopolies. In your answer be sure to…

A: A natural monopoly is a type of monopoly that arises from high start-up costs or large economies of…

Q: (c) Long-run average total cost curve is a curve that shows the lowest (Unit) cost at which the firm…

A:

Q: The​ short-run effect of an increase in the money supply is to Part 2 A. increase the price level…

A: Money supply is defined as the total volume of money that is held by the public at a particular…

Q: Highest death facing country

A: Below is the information deduced from the graph: Number of death faced by Austria = 1200 Number of…

Q: The global financial and economic crisis was preceded by massive current account disparities.…

A: A financial crisis in an economy refers to a steep decline in the value of its currency, suddenly.…

Q: In each of the following markets find the market equilibrium. Then consider the effect of a price…

A: Answer: (11). Given, Demand function:P=60-3QdSupply function:P=4+4Qs To find the equilibrium price…

Q: Is optimal consumption basket the same as associated level of utility?

A: Consumption is the process through which institutional units consume products or services; it may be…

Q: Consider the aggregate supply-aggregate demand (AD-AS) model that we saw in class. Assume that…

A: The aggregate supply curve shows the positive relationship between the price level and the total…

Q: Reducing mortality from one disease necessarily increases the sum of the total mortality risk from…

A: Reducing mortality from one disease necessarily increases the sum of the total mortality risk from…

Q: Define marginal utility. (50 words)

A: Utility means the satisfaction that a consumer gets after the consumption of a good or service. It…

Q: When the government engages in expansionary fiscal policy there is a. a budget deficit and increase…

A: Fiscal policy is defined as a policy which is undertaken by the government of a country to influence…

Q: How does perfect competition lead to allocative and productive efficiency? Perfect competition leads…

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

Q: the college of science surveys its graduating students to determine the starting salaries and the…

A: Given, n=100 courses Number of students BS-Biology 85 BSM-CS 102 BSM-BA 78 BSM-AS 75…

Q: What is the different between monoply profit and perfect competitive profit? Show them in grapphical…

A: Monopoly and perfect competition have more dissimilarity in regards pice charging , quantity produce…

Q: Predictions using the supply-and-demand model for electronic games are likely O A. not reliable…

A: “Since you have asked multiple questions, having multiple parts we will solve the first three…

Q: You are a manager for Herman Miller, a major manufacturer of office furniture. You recently hired an…

A: PLEASE FIND THE ANSWER BELOW.

Q: Tacoma's population in 2000 was about 194 thousand, and has been growing by about 10% each year. a.…

A: Given population in 2000 = 194 thousands Constant Growth rate = 10 %

Q: Ten firms compete in a market to sell product X. The total sales of all firms selling the product…

A: here we calculate the four firm concentration ratio in the market for product X by the following…

Q: Ricardian equivalence suggests that government budget deficits generated by decreases in current…

A: Current account:- it is a record of a country's transactions of goods and services, net earnings on…

Q: Given that the firm's TFC=$10, complete the following table: (Note: you must show your calculations…

A: Average Total Cost (ATC): - it is the average value of the total cost of producing specific units of…

Q: The number of semester hours of college credit taken by CPA candidates, X, has a distribution with a…

A: X = number of semester hours of college credit taken by CPA candidates Mean = 141 hours S.D. = 18…

Q: Capitalism refers to: a traditional economy. O a command economy. O a market economy. O socialism. C…

A: Capitalism is one ideology to run an economy that promotes the trade between the consumers and…

Q: For fiscal year 2006, the national debt of a country was approximately (8.302 x 1012) dollars. At…

A: For fiscal year 2006, the national debt of a country was approximately (8.302 x 1012) dollars.…

Q: Headline Core inflation inflation Other goods and services (relative to the base year (relative to…

A: *Answer:    Core inflation = (102/100) -1 = 2% Headline inflation = [( 116/2+ 102/2) - 100] = 9%…

Q: Question 5 of 50 which of the following questions might be asked by an economist who is using…

A: An economist who uses critical thinking for solving a problem would involve inquiring a question,…

Q: Country A Ch $4,50 $1,$1 a What is Country A's best response to Country B's choice to limit supply…

A: Nash equilibrium is a concept within game theory where the optimal outcome of a game is where there…

Q: vith proper maintenance. Both floors 1500 per year for cleaning and waxi he interest rate is 4%. The…

A: *Answer:

Q: Required information The Briggs and Stratton Commercial Division designs and manufacturers small…

A: The annual worth is the net of the relative multitude of advantages and costs caused by more than a…

Q: Consider the neoclassical growth model. Suppose in the current period a country's saving per worker…

A: The Solow model is an economic growth model that examines the change in the output level in an…

Q: Sirategles 10I Elario's inverse demand for cupcakes is P = 2.5 – 100D And Elario's marginal and…

A: P=2.5-110QIt has given that MC=AC=$0.5ThereforeP=MCHence,0.5=2.5-0.1Q0.1Q =2Q=20Hence, price for…

Q: 4. At the same carnival, another game is played by flipping the same weighted coin in #3 and rolling…

A: a)yes when we roll a fair die all outcomes equally likely with the probability of each outcome is…

Q: A certain production possibilities frontier shows production possibilities for two goods: pants and…

A: Production Possibility Frontier is a curve which is the locus of different combinations of two goods…

Q: Which of the following is not an assumption of indifference curve? Indifference curves tend to be…

A: Indifference curve shows different combinations of two goods that give same level of utility.

Q: 1. A study indicated that the optimal price for a consumer product is $32.45. Most products in the…

A: The correct answer is given in the second step.

Q: Given that fixed cost 330 and varioble cost+120: the totol varioble cost of producing 30 unts of…

A: Total cost is the sum of fixed cost and variable cost

Q: In the United States, most hospitals are non-profit, while nearly all pharmaceutical companies are…

A: There are many reasons that most of the hospitals in the United States are non-profit, one reason…

Q: 1. Ifa country's par exchange rate was undervalued during the Bretton Woods fixed exchange rate…

A: Here, it is given that the country is experiencing the undervalue of the exchange rate in the…

Q: Through the domestic monetary transmission mechanism, decreases in money demand cause O A. deflation…

A: The economics as a study is based upon the basic idea that the resources which are present with the…

Q: The manager's job in leading the previously mentioned production process is twofold: (1) to…

A: Managers of the firm has a place with the Middle level of the management. Managers generally goes…

Q: What happens to the weight attached to food over time in most countries?

A: The CPI is the consumer price index. It measures the weighted average price of a basket of consumer…