If quotas lead to an increase in prices, people may be constrained to reduce their consumption of the commodity subject to quotas or some other commodities. True False
Q: pls solve this question within 20-30 minutes I'll give you multiple upvotes. Please obtain the same ...
A: There are many changes you can make to your home to increase its value. You may consider new landsca...
Q: Suppose the price elasticity of demand for education at a certain university is 1.40. The university...
A: The price elasticity of demand for education at a certain university is 1.40 The university decides ...
Q: YAS = 742 + 15P – 28Poil YAD - 478 – 45P + 18G Suppose initially, the Poil = $93 per barrel and gove...
A: Given: YAS=742+15P-28POilYAD=478-45P+18G Poil=$93 per barrel Government spending=$630 Note: Due to m...
Q: TQuestion 1 - All else equal, a car insurance plan that offers less full insurance coverage will pro...
A: In economics, a situation of asymmetric information results in market failure due to uneven distribu...
Q: Quest manufacturing incurs the following costs per unit: labor $100/unit, materials $50/unit, and re...
A: Total cost is the sum of fixed cost and variable cost.
Q: QBS company wishes to replace its current equipment that was purchased 8years ago with the newer tec...
A: Future Worth is defined as the method which is used to calculate the equivalent cost of the project ...
Q: 4. The market for Woozle used to be perfectly competitive, but then Woozlesoft Inc. monopolized prod...
A: Introduction Woozle is a perfectly competitive market. Demand function of Woozle has given : P = 800...
Q: pro nas Y UGlars tO sper UP JO two periods. Let c denote the amount of consumption that the individu...
A: In period 1 : Budget Constraint : P1c1 + S1 = Y Where , S1 are savings , P1c1 is income spent on co...
Q: Given four proposals for funding a new project with a 100M limit on capital funding and the MARR is ...
A: ANSWER Internal rate of return is the rate at which the net benefits are equal to the net Costs. I...
Q: Sam invested a total of $100,000 into a project, and his total profits to date sum up to $120,000. W...
A: Given information: Investment amount = $100000 Total profit = $120000
Q: What is poverty and what are three of its harmful environmental and health effects? About whatpercen...
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: In a competitive labour market, businesses seek to maximize profits at the least cost (ie. optimizin...
A: In a competitive labor market , a firm maximizes its profits and optimizes its input costs at the po...
Q: Two proposals remain for consideration that have been put forward for a hydroelectric system. Moreov...
A:
Q: Give an example of each type of offer: -Polypolic offer -Oligopoly offer -Monopoly offer
A: There are different types of market structure such as monopoly, oligopoly, etc. which is characteriz...
Q: Your island economy has been thriving for many years now, and has grown large, with many people, ser...
A: Introduction GDP of a Island is equal to C+ I+ G + NX, here C is the consumption, I is the investmen...
Q: There are n firms in a competitive industry. The market demand function is given by p = 10 – Q. A fi...
A: Introduction The market demand function has given as p = 10 - q so TR = p . q = (10 - q) q MR = 10 -...
Q: The was a consumer sees the product as it compares to other similar products in the market is
A: Answer:- A substitute, or substitutable good The way a consumer sees the product as it compares to o...
Q: The Production function is defined as M3= M+ M2. The cost of using a ton of M, is P1 + td1 and the c...
A: The demand function is the function of price to quantity demanded, price of related goods, and incom...
Q: Select the WRONG equation for the equivalent uniform cost from the list below. The interest rate is ...
A: Given: Interest rate=8%
Q: YAS 742 + 15P – 28Poil YAD = 478 – 45P+ 18G Suppose initially, the Poil = $93 per barrel and governm...
A: Answer- "Thank you for submitting the question .But, we are authorized to solve only 3 sub parts.For...
Q: The instructor takes a random sample of size from the population data and obtains the following samp...
A: A standard deviation is the measure that how the series is being dispersed in the relevant accordanc...
Q: Calculate the capitalized cost of a project th- has an initial cost of P3,000,000 and an addition co...
A: Given informations: Initial cost = P3,000,000 Additional cost at every 10 years = 1,000,000 Operati...
Q: Country Y Price Qdd Osd $ 9.00 250 450 8.00 300 400 7.00 350 350 6.00 400 300 5.00 450 250 The accom...
A: A country exports the good if quantity supplied exceeds quantity demanded and becomes an importer if...
Q: Yield (wheat) B A Fertilizer 25. What is the curve labeled B (in the figure from q24) and what does ...
A: Production possibility curve: It will help to decide what amount of quantity of goods to be produced...
Q: and the equation for the demand curve is: Qd = 50,000 – 2,000P. It turns out that the equilibrium p...
A: Supply function Qs = 1000P - 10000 Demand function Qd = 50000 - 2000P For equilibrium in the market ...
Q: In your country, the demand curve of a litre of petrol is given by: P = 137 - 2Qp- Due to political ...
A: Given that: Original Demand Equation: P = 137 - 2QDQD = (137 - P) / 2 P1 = 60P2 = 75 Y1 = 25202Y2 = ...
Q: The table below shows a monopolist's demand curve and cost information for the production of its goo...
A: * SOLUTION :-
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the dema...
A: *Hi there , we are solving parts L , M & N as they follow same conditions for the question . To...
Q: 5) A person with a current wealth of $100,000 who faces the prospect of 25 percent chance of losing ...
A: Current Wealth = 100,000 Probability of Loss = 0.25 Amount of loss = 20,000 Utility function : U(...
Q: There are n > 1 bidders participating in the auction.
A:
Q: 2. Suppose the marginal cost curve for a perfectly competitive firm is MC = 10q + 80, where q is pro...
A: Given: MC=10q+80 Price of output=300
Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 8 - E. If...
A: Abatement costs are the price of removing undesired byproducts produced during production. Governmen...
Q: Evaluate the effectiveness of using monetary policy to reduce the rate of inflation
A: The economics as a study is based upon the idea of scarcity, where the resources with the economies ...
Q: We have recurring positive cash flows of $7500 every year from period 5 through period 10 (relative ...
A: Answer:- $30518
Q: g) Who should export or import corn and beets? Given that both economies have now agreed to trade, c...
A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity cos...
Q: TQM and Six Sigma why differed from japan to United States
A: One of the most significant breakthroughs in management methods has been the advent of Total Quality...
Q: Question 2 The data of average productivity for each number of workers for a firm are given in the t...
A: a) Figure attached below show the calculations for total product of labor which is computed by multi...
Q: 1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00 0.10- MC...
A: Consumer surplus refers to the area above the price and below the demand curve while supply curve re...
Q: What happens to consumer and producer surplus when the sale of a good is taxed? How does the chang...
A: Consumer and Producer surplus The consumer surplus basically refers to the difference between what ...
Q: Prices of gasoline change rapidly if something interrupts the oil supply. How responsive do you beli...
A: Answer: The price of gasoline changes rapidly if something interrupts the oil supply. But due to the...
Q: How long will it take any sum to double itself with an 11% interest rate compounded continuously? a)...
A: Continuous compounding refers to compounding interest an infinite times in a year. The formula stat...
Q: If MR (marginal revenue) is less than MC (marginal cost), then the firm sould O a. decrease producti...
A: The economics as a study is based upon the idea that resources which are present with the economies ...
Q: The primary focus of energy economics is how: Group of answer choices a-Energy produ...
A: "Correct option c."
Q: A television program examining the issue of Mexican immigration stated that most economists believe ...
A: Aggregate demand as well as aggregate supply are the two parts of macroeconomics and are adjusted by...
Q: We have seen that monetizing the benefits of environmental improvements is difficult. Consequently, ...
A: Environmental policy is the commitment of an organization to the laws, regulations, and other policy...
Q: A proposal to reduce oil spill on MX5 has a B-C ratio of 1.4. The conventional annual worth of benef...
A: Given: B-C ratio=1.4 The annual worth of benefits minus disbenefits =P560,000 Interest rate=6% Life=...
Q: 3. What is static efficiency? Illustrate your answer with the aid of a well-labelled diagram. What i...
A: Static efficiency is refer to the condition, in which the efficient combination of the excising reso...
Q: 2 When a vdeo streaming company thoosesa ubseription scheme to pay for progammng, which of e folowin...
A: Cost is of various types that are total cost, total variable cost, and total fixed cost. Total cost ...
Q: Wr = 300 + 75s ve 14 years of schooling and women have 13 years of schooling. average male-female wa...
A: *Answer:
Q: Which of the following is an objective of dumping?
A: The basic objective of dumping is to increase the market share in a foreign market by driving out co...
If quotas lead to an increase in
commodity subject to quotas or some other commodities.
- True
- False
Step by step
Solved in 2 steps
- Define Availability of substitutes?Energy markets, such as the market for natural gas and electricity, have been known to be characterized by inelastic demand. However, recent research discussed in the August 25, 2022 issue of The Economist, indicates that while the responsiveness of quantity demanded in response to price changes indeed is “inelastic” (i.e., the absolute value of price elasticity of demand is still less than 1), the percentage change in quantity demanded in response to a change in price is much larger than earlier research indicated. Answer these narrative questions. No graphs are needed. What does “inelastic demand” formally mean? In addressing this part of the question, please make sure to explain the concept of the price elasticity of demand using a simple formula and by providing a short narrative. Policymakers are encouraging people to conserve energy in response to the growing energy crisis. Discuss the positives (pros) and negatives (cons) of providing subsidies to consumers in this situation…If more and more demanded at the same price it is known as extension of demand. True or false
- See the attahced photoFerdinand Sludge has just written a disgusting new book, Orgy in the Piggery. His publisher, Graw McSwill, estimates that the demand for this book in the United States is Q1 = 50 ,000 − 2,000P1, where P1 is the price in America measured in U.S. dollars. The demand for Sludge’s opus in England is Q2 = 10 ,000−500P2, whereP2 is its price in England measured in U. S. dollars. His publisher has a cost function C(Q) = 50,000 + 2Q, where Q is the total number of copies of Orgy that it produces. .a. If McSwill can charge different prices different countries, and wants to maximize profits, how many copies should it sell in the United States and England? What are the respective prices? .b. In which country the price is the highest and why? Explain.What is the standard price using the elasticity equation?Consider the movie ticket and popcorn example discussed in Section 17.7. The theater sells two products, tickets and popcorn. Suppose the weekly demand for movie tickets is Quiz = 400-20Ptiz - 10Ppopcorn where Ptix and Ppopcorn are the prices of a ticket and a bag of popcorn, respectively. Suppose that each time a moviegoer buys a ticket, his demand for popcorn is Qpopcorn = 3-0.4Ppo $ where Qd popcorn is the number of bags of popcorn the moviegoer buys. Suppose further that the theater's marginal cost of a ticket is $2, while the marginal cost of popcorn is $1.5. Instructions: Round your answer to 2 decimal places. a. What is the profit-maximizing price of a movie ticket if a bag of popcorn sells for $5 a bag? popcorn 9.75 b. In Section 17.7, the marginal cost of popcorn was $0.50 and the price of a ticket was $8. Explain intuitively why the profit-maximizing price in this problem is different from the profit-maximizing price in Section 17.7. O When the marginal cost of popcorn…
- A baker will supply 19 jumbo cinnamon rolls to a cafe at a price of $4.57 each. If she is offered $3.91, then she will supply 3 fewer rolls to the cafe. The cafe's demand for jumbo cinnamon rolls is given by p = D(x) = -0.46x + 7.19. What is the equilibrium point? rolls at a price of $ eachAbove is the demand schedule for tickets to a Carnegie Hall performance of the Grateful Dead. Carnegie Hall seats 1,800 people. What is the equilibrium price and quantity for a concert of the Grateful Dead at Carnegie Hall? If tickets were sold for $18, what would happen (be specific)?Predict what will happen in the hot dog (franks) market if the Heinz Petition succeeds in persuading bakeries to package hot dog buns in packages of 10 (instead of 8) while at the same time hog farms increase their breeding efforts. First, assume Hot dog franks and buns are complements. The Heinz Petition is likely to affect demand for hot dog franks since it will no longer be necessary to buy 2 packages of buns for one pack of hot dogs. Will this increase or decrease demand? (please answer) Please draw a graph (below) to show the change and the effects on the new equilibrium. Be sure to label it. Did price increase of decrease? (please answer) Did quantity increase or decrease? (please answer) Second, “….while at the same time hog farms increase their breeding efforts.” Is this a demand or supply issue? (please answer) Will this increase or decrease it? (please answer) Please draw a graph to show the change and the effects on the new equilibrium. Be sure…
- DINKs are households with "double income, no kids", and such households are invading your neighbourhood. You decide to take advantage of this influx by starting a gourmet take-away food store. Assume that these DINKs in your neighbourhood are your only potential customers.You know that the price elasticity of demand for your food from DINKs is 0.5, and their income elasticity of demand is 1.5.From the standpoint of the quantity that you sell, explain which of the following changes would concern you most.First, the number of DINKs in your neighbourhood falls by 10 percent.Second, the average income of DINKs falls by 5 percent.If the demand for airline traveling increases, Group of answer choices The demand for flight attendants and pilots will increase and shift right. The supply of flight attendants and pilots will increase and shift right. There will be a surplus of pilots and flight attendants in the market. The supply of flight attendants and pilots will decrease and shift left.Utilize the following graph of the medical doctor services market, in which there is a third-party present (insurance company), to answer the following question: P 180 100 20 40 ● 72 Question: Suppose that co-payments are set at $20 per doctor visit and quantity demanded is 72 from patients. In order for doctors to supply 72 doctor visits the price has to be $180. In a regular market (no third-party) the equilibrium price is $100 and the quantity is 40. Why is there a difference between a regular market and a third-party payer market in regards to total costs? What is the difference? All of the available answers are correct. D In third-party payer markets, consumers do not have to pay the full costs of their consumption. This induces people to have lower quantity demanded than otherwise would be the case in a regular market. Therefore total costs increase under a third-party payer market compared to a regular market. The difference in this case is $12,960. In third-party payer markets,…