The price at which quantity demanded equals quantity demands is called:     A. Equator   B. Price Mechanism   C. Equilibrium   D. Price Floors

Q: Flavor Flav has released a new exercise DVD for his loyal fans. If he charges $20 he expects to sell…

A: Given, P1=$20Q1=10,000P2=$30Q2=8,000 Price elasticity of demand depicts the responsiveness of change…

Q: If real GDP increases from $100 billion to $105 billion, and the population increases from 100…

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Q: Why do these goods have the elasticity that they do? Inelastic Coffee, Elasticity: 0.25 Elastic…

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

Q: Suppose there are two goods, X and Y, with X measured on the horizontal axis and Y measured onthe…

A: Introduction: The income of a person is considered a scarce resource and which means consumers have…

Q: Price P₂ P₁ A A. B D A+ B. Refer to Figure 3-17. When the price is P₁, consumer surplus is O A + B +…

A: Meaning of Consumer Surplus: The term consumer surplus refers to the situation under which the…

Q: Which of the following could be an unintended consequence (or a reaction from the private sector) of…

A: Government expenditure refers to spent money by the public sector on the acquisition of items and…

Q: For a monopoly, the demand and cost functions are: Demand: Q = 100 -0.20P Cost: TC= 10 + 60Q Solve…

A: A monopolist always maximizes profit where: Marginal Cost = Marginal Revenue  MC = MR   Total…

Q: How long does it take to become a millionaire? A $500,000 investment will hit $1 million in 41 years…

A: The number of periods can be computed based on future value (FV) and present value (PV). The formula…

Q: Consider the following information describing a closed economy with no government and where…

A: Equilibrium condition Y = C + I Marginal Propensity to consume = 0.25 Consumption = $300 Investment…

Q: You are hired by your hometown to study use of public transportation there. When holding everything…

A: The normal good refers to the good which is positively related to the income. While the inferior…

Q: Suppose that you have received $300 as a birthday gift. You can spend it today or you can put the…

A: Opportunity cost of an action represents the forgone benefits from the next best alternative.

Q: Asume you invest $3,500 today in an iveestment that promises to return $7,700 in exactly 10 years.…

A: An investment is an asset or thing gathered fully intent on creating income or recognition. In an…

Q: Figure 3-18 Price P₁ P₂ A B' C U! D E F

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Q: Suppose that an individual has a utility functions given by: U(X,Y)= 3X²+Y² Suppose also that the…

A: Given that the utility function is U(X, Y) = 3X2 + Y2 The individual's income = $1500 Price of X =…

Q: A firm faces the demand curve: P = 3,591 - 19Q. What is the firm's revenue maximizing price? Enter…

A: Revenue maximising price - It is the price at which the producer earns the maximum amount of…

Q: 2. A construction site uses two types of workers - skilled (S) and unskilled (U). They produce feet…

A: Production Function This link between the amounts of productive inputs (such as labor and capital)…

Q: The buyer of a certain machine may pay either P2,000.00 cash down payment and P2,000.00 annually for…

A: The present value of a payment anticipated to be made in the future is known as the net present…

Q: calculate The constant of a regression of Y on X  calculate the what is the value of SSTx  what…

A: Regression analysis shows, how the dependent variable is regressed over the independent variable.

Q: An example of an incentive designed to promote savings would be A) an increase in the sales tax. B…

A: Savings and investments are important for capital formation and thereby economic development. The…

Q: Find the optimal choice for each of the following individuals given that each has an income of $210…

A: Income = $210  Px = 2 , Py =1  Hence the budget equation is : 2x + y = 210

Q: Capital is the sum of all the machines, plants, and office buildings in the economy. True  False

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: The decision taken by the South African government to sell its majority stake in South African…

A: Government sells it's property for better management and control of businesses.

Q: A point lying inside the budget line indicates:   An unattainable market basket for the consumer.…

A: In consumer theory, the combination of goods and services that a consumer can acquire for his or her…

Q: Q 2 Do you think caring labour should be paid?

A: Care work can be either paid or unpaid. Unpaid caregiving is primarily done at home and is primarily…

Q: Suppose that the demand curve for wheat is and the supply curve is Producer surplus Q=400-40p The…

A: Equation of demand curve: QD=400-40p          .........(1) Equation of supply curve QS=40P…

Q: 11. The figure illustrates the competitive market for cell phones. Price (dollars per cell phone)…

A: Here, the given graph shows the market for cell phones in which equilibrium quantity is 100 cell…

Q: What rate of interest compounded annually would result in receipt of $21,000 in five years from an…

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Q: A new stereo for a car is generally priced in the $150 range.  A new car generally is generally…

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

Q: Kanesha is an entrepreneur and has recently opened her first coffee shop, The Coffee Cat. She pays…

A: Explicit cost is an installment of monetary exchange made to others while maintaining a business…

Q: Calculating Price Elasticity Qd = 30 – 3*P P = 2 P = 5 P = 8 P = 6   Calculate elasticity of the…

A: Price elasticity refers to the percentage change in the quantity demanded for a given percentage…

Q: What is the quantity of labor that produces potential GDP? Potential GDP is produced by the…

A: Gross Domestic Product  GDP calculates the monetary value of the final goods and services purchased…

Q: A man purchased a house for P425,000.00. In the first month that he owned the house, he spent…

A: Selling price assigned to a good or service is generally assigned by the seller, which is the amount…

Q: Jamal consumes only two goods: lollipops and chewing gum. He treats these two goods as perfect…

A: Given that, Price of Chewing gum = $2.50 Price of Lollipop = $ 6.25 Decrease price in Chewing gum =…

Q: Can you explain or give me an overview of the chinese economy?

A: By 2020, China's economy, which has experienced exponential expansion in recent decades, will have a…

Q: Electricity is produced with water according to the function: E = 5 + 5W-1W² where E = kilowatt-hour…

A: Electric power is the speed at which work is accomplished or energy is transformed into an…

Q: Which of the following will decrease the demand for chicken? O Research showing chicken is better…

A: The measure that depicts various quantities of goods being demanded by individuals at different…

Q: machine has an initial cost of $80,000 and a salvage of $8,000 after 10 years. What is the book…

A: Given data Purchase price = P = $ 80,000 Salvage value = F = $ 2,000 Life of an asset = n = 10 years…

Q: The Nicor family is planning to purchase a new home 3 years from now. If they have Php 12,000,000…

A: As given Present worth = 12,000,000  Interest rate = 12% per year  time = 3 years  FV = PV(1+r)n…

Q: Does the US have "the best healthcare system in the world"? Why or why not?

A: The phrase "health care economics" is used to refer to a variety of elements that interact to affect…

Q: The principal-agent problem arises because: Select one: a. the agent wants to maximize the company's…

A: Asymmetric information occurs when there is unequal information between two parties. In this…

Q: 4. Assume a demand of Q=800-2P Assume this market is served by a monopoly. MC=AC = $20. a. Calculate…

A: Consumer surplus is the benefits the consumer receives by purchasing the products at the market…

Q: A firm's accounting profit is equal to total revenue minus opportunity costs total revenue plus…

A: The expression “accounting profit means to the total revenue of an organization in the wake of…

Q: 3. How do you compare the inflation rate in 2021 to the inflation rate in 2020? a The inflation rate…

A: The inflation rate measures the increase in prices over time. It can be calculated using CPI.…

Q: When Great Britain voted to leave the Eurozone, the pound depreciated 17% against the dollar. It…

A: Market for dollar -

Q: “Inflation is always and everywhere a monetary phenomenon”. What are the implications for Central…

A: In the field of economics, inflation refers to a general rise in the quantity of money in…

Q: uppose Amy's income increased from $8,000 to $12,000. As a result, her consumption of apples…

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

Q: The alternative to the Uber pricing model is the taxi pricing model where a government commission…

A: A price ceiling is the commanded maximum sum a vender is permitted to charge for an item or…

Q: Levi Strauss has some of its jeans stone-washed under a contract with independent U.S. Garment Corp.…

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Q: Suppose that one factory inputs its goods from two different plants, A and B, with different costs,…

A: Given that,  Inputs of the factory from the plant A=4  Inputs of the factory from the plant B=7…

Q: The buyer of a certain machine may pay either P2,000.00 cash down payment and P2,000.00 annually for…

A: The present value of a payment anticipated to be made in the future is known as the net present…