A politician argues that the United States should temporarily ban the import of battery-powered electric scooters because this is an "infant industry". According to what we learned in class, which of the following counterarguments would we expect an economist to raise: This temporary ban might become permanent because the electric scooter manufacturers will never become globally competitive. This ban will hurt the wages of manufacturing workers in other countries This ban will increase the price that people in other countries pay for electric scooters This ban will destroy American jobs in the electric-powered-scooter industry
Q: QUESTION 3 The consumer price index is a. a perfect measure of the cost of living. b. not very…
A: The Consumer Price Index (CPI) is a widely discussed economic indicator used to gauge changes in the…
Q: The current account balance consists of the trade balance plus the services balance. net exports of…
A: The current account is a critical part of a nation's balance of payments, which is a record of all…
Q: A small manufacturing company is evaluating trucks for delivering their products. Truck A has a…
A: NPV is a method of capital budgeting that helps the investors in any company to determine if the…
Q: What is the level of unemployment that is natural to an economy, such that attempts to reduce…
A: Unemployment means the situation in which individuals who are willing and able to work cannot find…
Q: Given a loss function of the form: V = [u+1 − Un]² + d(πt+2 − π¹)² subject to an Inertia-Augmented…
A: Macroeconomic monitoring will remain critical since it determines the economy's final expansion path…
Q: Pre-mixed concrete is an important input for the construction industry. Concrete cannot be stored or…
A: Demand function : P = 670 - Q/40MC of merged entity = 145 Fixed Cost = 600,000
Q: Economics Pick an agency in public sector (e.g., government or nonprofit). Briefly describe the…
A: It can be defined as an organization that is set up by the government of the nation This agency is…
Q: Before the technological change, point X was first box unattainable inefficient efficient second box…
A: Production possibility frontier shows all the combinations of the two goods that an economy can…
Q: Evaluate and discuss this statement, ‘Absolute advantage, specialisation and comparative advantage…
A: Absolute Advantage: Absolute advantage occurs when one country can produce goods more efficiently…
Q: Business in 2022 is operating in a complex, uncertain, and constantly changing context. From digital…
A: By developing a culture that prioritises sustainability, adaptability, and inclusivity, leaders may…
Q: On the previous graph, use the green rectangle (triangle symbols) to indicate the domestic revenue…
A: A tariff is a tax imposed by one country on the goods and services imported from another country to…
Q: If Mexicans increasingly lose confidence in their domestic financial markets and move their assets…
A: The value of a currency, also known as its exchange rate, represents the rate at which one currency…
Q: Peter's preferences over two goods, x and y, are represented by the utility function u(x, y) = y +…
A: Utility, in economics, refers to the satisfaction, happiness, or well-being that individuals derive…
Q: Rue operates a food truck on Florida beaches, where she sells paninis and drinks, which she can sell…
A: A budget is a financial plan that outlines an organization's or individual's expected income and…
Q: If labor supply decreases, what will happen to the real wage rate, employment, and real output,…
A: Labour supply refers to the amount of time and effort that individuals are willing and able to…
Q: Suppose that instead Einar short sells 200 shares of German Power Weak Inc. at $40 each. NASDUCK now…
A: Margin Requirement:A margin requirement is the amount of cash or securities that an investor must…
Q: When the price of the good drops by 5 percent to $19, consumer surplus increases by $
A: Consumer surplus is the difference between what a consumer is willing to pay for a good or service…
Q: The tarrif's revenue effect (the import tariff multiplied by the quantity of steel imported) can be…
A: A tariff is a tax imposed by one country on the goods and services imported from another country to…
Q: Emily is a utility maximizer. Her income is $100, which she can spend on cafeteria meals and on…
A: A budget line is a graphical illustration of all feasible combinations of goods that can be…
Q: If there are two communities, one with ten families have incomes of $100,000 each and ten families…
A: Note: Since you have posted a question with multiple sub parts, we will provide the solution only to…
Q: From the information given above calculate the price of Y. Given the information above, calculate…
A: Consumer has options of two goods; X and Y. This consumer has total income of $1000 to spend on X…
Q: Pre-mixed concrete is an important input for the construction industry. Concrete cannot be stored or…
A: Number of firms in the industry = 3 Demand function : P = 670 - Q/40Q = q1 + q2 + q3 Fixed Cost =…
Q: Find the partial derivative of the following with respect to I: y = AK 0.410.6 0.6AK 0.4/-0.4 ) 0.6A…
A: Partial derivative is a derivative of a function with respect to one of the variables keeping others…
Q: A material supplier won a 5-year contract to supply a construction company with all their building…
A: First-year profit is equal to $12,000The annual profit is expected to increase by $6000 each…
Q: 21. Consider a firm subject to quarter-to-quarter variation in its sales. Suppose that the following…
A: To forecast sales in each of the four quarters, you can use the estimated equation and the values of…
Q: 20. The general linear demand for good X is estimated to be Q = 1 8 , 0 0 0 − 1 7 5 P + 0 . 3 5 M −…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: If the quantity theory of money is correct and other things remain the same, an increase in the…
A: Money is a commonly accepted medium of exchange in transactions involving goods, services, or…
Q: P₁ P₂ P3 P₁ P₁ Q₁ Q₂ Q3 Q4 Marginal revenue Marginal cost Average cost The monopolist maximizes its…
A: A monopoly market is a type of market structure characterized by a single seller or producer…
Q: The following is the macro model of the economy for next year. (i) Find the parametric solutions for…
A: To find the parametric solutions for the predicted G.D.P (Y) and predicted net exports (X), we'll…
Q: ADROLL: A CASE STUDY OF ENTREPRENEURIAL GROWTH SUMMARY AND AUTHOR’S NOTE The case examines the…
A: The statement provides an overview of a case study titled "A Case Study of Entrepreneurial Growth"…
Q: Supply is more elastic if there is no time to do any adjustment. None of the above the adjustment…
A: Supply curve shows a positive relationship between price and quantity supplied of a good. It slopes…
Q: After a hurricane, Tex and Mohan are each given an identical bundle from FEMA with potatoes and…
A: MRS is amount of one good that Consumer is willing to give up to consume additional unit of other…
Q: There are two different types of producers of a good in an industry (Type A and Type B). The…
A: Economic cost refers to the combination of losses of any goods that have a value attached to them by…
Q: Table: Supply Curve In the table, which supply curve is most price elastic over the range of prices…
A: Elasticity is a measure of responsiveness of the quantity supplied to the change in price.If the…
Q: JenStar has a single product with a sales price of $22 and whose variable cost is $10 per unit. The…
A: Industrial economics is the study and appraisal of business financial issues utilising abstract…
Q: If a market is in disequilibrium: it will continue unless there is government intervention. no…
A: An equilibrium is a situation where all the possible gains from the trade are exhausted. If the…
Q: What is the partial derivative of k³ -2/² with respect to k? 2k 3k² 3k³ Ок
A: Partial derivative is a derivative of a function with respect to one of the variables keeping others…
Q: The capital investment cost for a switchgrass-fueled ethanol plant with a capacity of 300,000…
A: To evaluate the cost(C) of a plant with a capacity of 500,000 gallons per year, we will use the…
Q: On the following graph, use the blue line (circle symbol) to plot David's production possibilities…
A: Opportunity cost is the cost of one good in terms of other. The opportunity cost shows the forgone…
Q: The logic of service outsourcing - The Ricardian model It is sometimes argued in editorials or TV…
A: Among the notable ideas that Ricardo introduced was the proposition of relative advantage, which…
Q: wage, and rent: Find the cost minimizing amount of K for a producer to use when faced with the…
A: A firm minimizes cost at the following point:(MPL / MPK) = (w / r)where MPL is the marginal…
Q: Terms of trade Suppose that Greece and Austria both produce oil and wine. Greece’s opportunity cost…
A: Opportunity cost shows that some units of one goods must be given up in order to produce more units…
Q: Stephen has $4,000 to spend on cakes and movies. The price of a cake (C) is $40 and the price of a…
A: Stephen's utility functionThe price of the movie is $20 and the price of the cake is $40.Stephen's…
Q: What economic factors influence the success or failure of labor strikes, and how do these factors…
A: Labor strikes are collective actions where workers cease their work activities to protest against…
Q: What is the partial derivative of y OXAK XAK α-1 XAK-11¹-x XAK¹-αjα-1 Ak *¹-* with respect to k,…
A: Partial derivative is a derivative of a function with respect to one of the variables keeping other…
Q: Dollars MR be A) 0. B) Q1. C) Q2. D) Q3. E) Q4. AR Quantity 2. Refer to the figure above. If…
A: A monopoly is a market structure in which a single seller or producer controls the supply of a…
Q: Firm Market Share (%) A B C D E F 30 22 18 17 7 6 Refer to the data. Suppose that firms in this…
A: The aggregate market share of the four biggest companies in an industry is evaluated using the…
Q: Let’s analyze the rational behavior and well-being of 3 different individuals in regards to their…
A: The intertemporal consumption model is an economic framework that helps individuals and economists…
Q: on is being caused by excessive demand." Iman states that "inflation is being caused by supply chain…
A: Inflation is referred to as the increase in the level of general prices in an economy. The…
Q: Elijah and Aneesha are farmers. Each one owns a 14-acre plot of land. The following table shows the…
A: Comparative advantage occurs when a country or an individual can produce the good at a lower…
Step by step
Solved in 4 steps
- The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): 13 12 11. 10 A 9 83 7 2 1 0 -1 10 1 -11 CHG. O GHOI. O HLP. US Market for Yoplait (Y) Supply of Yoplait O GHPK. 8 Demand for Yoplait 9 10 11 12 13 Yoplak 15 12 Price 11 10 A 0 1 2 US Market for Dannon (D) Refer to the above graph. At the price of $6 for Y, and relative to an autarkic situation, intra- industry trade leads to a loss for producers of: Supply of Dannon Demand for Dannon Dannon 10 11 12 13The global crisis of electronic chips shook and shattered many industries while in theforefront of the headlines the COVID-19 pandemic rages through the economies ofthe world. You watched a video on this crisis and participated in a discussionin the class. Pick up an industry of your choice and discuss how this industrygot hit by this chip shortage. How much was the usual demand? Did the demandincrease during the COVID pandemic or it reduced? Did the industry cut production?Did it suffer a revenue downfall? Was there any variation of the impact withrespect to the difference in economic regions e.g. Asia, Europe, North America,The Middle East etc..? Did it find an alternate way to circumvent the crisis? Countryeconomy-wise which one is hardest hit (or the least)? Why? What type ofrecovery do they expect or foresee? How are they making sustainability plansfor such a crisis in the future? Try to answerthese questions in your write up but don’t limit them within the boundary ofthese…What Type of attraction are in Uk? and which are the main Characteristcs of supply? (what make different from the rest of the world)
- The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): -1 13 12 11 10 A 9 8G 7 2 Price 1. 0 0 2 US Market for Yoplait (Y) Supply of Yoplait 5 6 7 Loss of LQM. Gain of LQM. Loss of KLMR. Demand for Yoplait Gain of KLMR. Yoplak 9 10 11 12 13 14 12 Price 11 10 A US Market for Dannon (D) 2 3 4 5 7 Supply of Dannon Refer to the above graph. At the price of $6 for D, intra-industry trade leads to which of the following for the United States: 8 Demand for Dannon Dannon 9 10 11 12 13The quantity demanded each month of russo Espresso Makers is 250 when the unit price is $140; the quantity demanded each month is 1000 when th e unit price is $110. the suppliers will market 750 expresso makers if the unit price is $60 or higher. At a unit price of $80 they are willing to market 2250 units Both the demand and supply equations are known to be liniear. A: Find the demand equation. B: Find the supply equation. C: Find the equilibrium quantity and the equilibrium price.How will each of the following demand and buppyaffects euelionium price and exuelibrium quantityi market: Competitive @Demand deereatee and Sepply is Constant
- Cape Town and Durban were first developed in the 17th and 18th centuries as trading posts on theshipping route between Western Europe and Asia. During the 19th century, this role changed withthe discovery of diamonds and gold in the interior. The port cities developed from being stop-overand service points providing shipping services, to being ports through which commodities weretraded.”The change in the that occurred in the Durban and Cape Town ports during the 19th century is best explained by…a) A movement along the production possibilities frontier.b) A movement towards the production possibilities frontierc) An outward movement of the production possibilities frontierd) An inward movement of the production possibilities frontiergren Y Q= 1,000 = 20P. The typicat 19, Ina pert e e demand® average costis AC = 222+ ¢ ot el o MO Whst S ACa? idual s supply curve. Find the maket competitive prce a. Confirm that Qmin _ 30. (Hint: St AC determine th erve the market. Find the ind? 10 market demand to arket supply €qua! b. Suppose 10 firms s 1 firm’s profit supply curve. Set m: and output. What s the typica 1, zero-profit cquii sum, How many firms will serve the matke® Determine the long-ruTable 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles are measured in thousands. What is the quantity demanded and the quantity supplied at a price of 210? At what price is the quantity supplied equal to 48,000? Graph the demand and supply curve for bicycles. How can you determine the equilibrium price and quantity from the graph? How can you determine the equilibrium price and quantity from line table? What HIE die equilibrium price and equilibrium quantity? If the price was 120, what would the quantities demanded and supplied he? Would a shortage or surplus exist? If so, how large would the shortage or surplus he?
- Can you think of an industry (or product) with near infinite elasticity of supply in the short term? That is, what is an industry that could increase Qs almost without limit in response to an increase in the price?May and Raj me the only two growers who provide organically grown corn to a local grocery store. They know that if they cooperated and produced less corn, they could raise the price of the com. If they work independently, they will each earn 100. If they decide to work together and both lower their output, they call each earn 150. If one person lowers output and the other does not, the person who lowers output will earn $1 and the other person will capture the entire market and will earn 200. Table 10.6 represents the choices available to Mary and Raj. What is the best choice for Raj if he is sole that Mary will cooperate? If Mary thinks Raj will cheat, what should Mary do and why? What is the prisoners dilemma result? What is the preferred choice if they could ensure cooperation? A = Work independently; B = Cooperate and Lower Output. (Each results entry lists Rajs earnings first, and Marys earnings second.)Tell me how you find out how much to charge for a bushel of corn. Kim I el my corn at the grain elevator in my county. The grain elevator operator tells me the market price when I come to sell my corn. James What would happen if you asked for a higher price for your corn? Kim The grain elevator operator would probably laugh and tell me the market price IS the price that they will buy my com for - not a penny more! If I was a good negotiator, the grain elevator operator might give me a price that is slightly higher than the market price. Submit