Question 16 Use the table to answer the question. Price Quantity Demanded $25 $30 $35 $40 $45 $50 $55 $60 $45 At what price does this market experience a shortage of 50 units? O $50 $25 (units) 450 420 390 360 330 300 270 240 $55 Quantity Supplied (units) 200 220 240 260 280 300 320 340
Q: Given the income level, saving is directly (positively) related to Group of answer choices…
A: Saving is significant in the economic progress of a nation because of its relation to investment.…
Q: To triple $1 million, Theo invested today at an annual rate of return of 9 percent. How long will it…
A: We can compute future worth with compound interest utilizing this formula: future worth = present…
Q: 1 Example 1: Let y = F(l, k) = 13k2 be the production function, p = 30, w = 10, and r = 5. maximizes…
A:
Q: The following graph shows a firm operating in a monopolistically competitive market. Short term, how…
A: The following graph shows a firm operating in a monopolistically competitive market. Short term, how…
Q: 3. Relationship between tax revenues, deadweight loss, and demandelasticity The government is…
A: Here we are given 2 markets a)market for jackets b) market for smartphone. In both the markets the…
Q: Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of…
A:
Q: If Jack received a $1,000 bonus and his MPS is 0.25, his consumption rises by $________ and his…
A: MPS means the portion of additional disposable income saved by a consumer.
Q: Here is a payoff matrix that is interesting. I am not in an imaginative mood, so I won't try to tell…
A: When player 1 chooses row top, then player 2 has more payoff in choosing column right. And when…
Q: A consumer has to choose the optimal number of slices of pizza and bottles of water to purchase.…
A: Optimal decisions will be reached at the margin. The main approach on making the best decision on…
Q: Susan Ng owns an eight-year-old Prius automobile. She wants to find the present worth of repair…
A: Here we are given a payment stream, we will find the present value of that using the present value…
Q: Consider the following cash flows. Select the closest answer to the rate of return. Cashflow Year O…
A:
Q: 5 4 3 2 0 12 24 36 48 60 72 84 96 108 120 Quantity (kilos) per day If the government were to give…
A: If the government gives subsidies to avocado farmers (the producer), the supply curve will shift to…
Q: Which of the following are production activities that are included in GDP? Which are not? a. Mr.…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Jana is interested in only two goods, X and Y, which she views as "perfect complements". Write down…
A: In order to derive the preference:- 4.5 x = 3.5 y U( x , y ) = min { 4.5 x , 3.5 y }
Q: You are considering two options for your next family vacation. You can visit Disney World or…
A: Here we are given consumer's utility under the uncertain situations. Here consumer will make his…
Q: When the Covid outbreak began, prices of face masks escalated or, in areas where sellers kept prices…
A: There was an unprecedented global demand for face masks and other protective equipment during the…
Q: Question 1 Problem 1. The following table shows Nominal GDP for two consecutive years together with…
A: Data table : 2029 2030 Nominal GDP 5000 5350 GDP deflator 240 252
Q: las 140 120- 1004 LRAS SRAS
A: The graph above shows the short run aggregate and long run aggregate supply curve. when hurricane…
Q: acture.com/courses/100715/quizzes/619020/take Question 34 (Figure: Supply Curve 2) Use the supply…
A: Total producer surplus is the area below the price given in the question and above the supply curve…
Q: Question 19 "Calls have come from many quarters to do away with the general fuel levy, given its…
A: Opportunity Cost is defined as cost of the next best alternative or the cost that has been forgone.…
Q: A service car whose cash price was P540.000 was bought with a down payment of 162.000 and monthly…
A: Compound interest monthly refers that interest amount will be charge every month after adding the…
Q: In the past, the Federal Reserve (Fed) mandated that member commercial banks must hold a certain…
A: The country's monetary and financial system is made safe, adaptable, and stable by the Federal…
Q: For each of the following goods, explain why a free-rider problem arises or how it is avoided.…
A: Introduction When a person enjoys the benefit of goods and services without paying the price,…
Q: Which of the following is added to the GDP? A. Exports B. Imports C. Net Exports D.…
A: GDP is the gross domestic product. It includes consumption , investment , government spending and…
Q: Figure: The Market for Tortillas Price P₁ P2 P3 a b f d C S
A: Price ceiling is the maximum price which can be charged by the seller. Seller can not charge price…
Q: Tim's Tires sells tires under the firm's own brand name and private label tires to discount stores.…
A: The addition to the overall cost of production that occurs each time a company creates an extra unit…
Q: 1. Does the market overproduce or underproduce when third parties enjoy positive externalities? Show…
A: In a situation known as externality, people who are not directly involved in the activity of one…
Q: If nominal rate of return is 10% per annum and annual effective rate of interest is 10.25% per…
A: Given information: Nominal interest rate (r): 10% Effective interest rate (i): 10.25% To find: the…
Q: Find the nominal rate which if compounded quarterly is equivalent to 6.5% compounded semi-annually.…
A: Nominal Annual Rate: The nominal annual rate is the yearly interest rate without the impact of…
Q: 12 11 10 9 8 7 6 5 3+ 2+ 1 Supply Demand 05 1 15 2 25 3 35 4 45 5 Quantity 5. Refer to Figure 8-2.…
A: Equilibrium in the market occurs at the intersection of the demand and supply curves. The…
Q: 5) Which of the following statements is not true about utility? We can compare utility across…
A: Consumer Decision-Making: Microeconomics places great significance on consumer decision-making.…
Q: _______ raises the equilibrium real interest rate and decreases the equilibrium quantity of loanable…
A: In the loanable funds, an increase in real interest rate with a decrease in the equilibrium quantity…
Q: Lawrence has a marginal tax rate of 24%. He suddenly realizes that he neglected to include a $5,000…
A: Tax Deduction is defined as the claims that are made to reduce our taxable income, arising from…
Q: Lui's utility function is U(x,y) = x9 y. Find the value at the bundle (x,y) =(4,2) of the derivative…
A: Given Lui's utility function: U(x,y)=x9y ......(1) The marginal rate of substitution of good…
Q: Use the graph to the right for Yolanda's Frozen Yogurt Stand to answer the questions that follow.…
A: An elastic demand is one in which the change in quantity demanded because of a change in price is…
Q: A simplified version of Leontief's analysis of the 1947 American economy has the following…
A:
Q: ollowing would definitely cause a decrease in the price level for the U.S.? a transition from…
A: Price level changes according to the change the demand and supply conditions. The sustained change…
Q: Solve the following consumer optimization problem using Kuhn-Tucker. (Your solution should have Xi ≥…
A: In mathematical optimization, the Kuhn–Tucker conditions are first order derivative (fod) necessary…
Q: If demand for the dollar is high, the price of the dollar is most likely to remain stable fall, then…
A: The exchange rate will rise if there are more dollars demanded than there are dollars available (An…
Q: Assuming society's MPC is constant at an aggregate of income of $300, aggregate consumption would be…
A: Marginal propensity to consume refers to the increase in the consumption occurring due to increase…
Q: 2. The economists were ultimately interested in whether businesses were affected supply chain…
A: Note: You have uploaded a question with multiple sub parts. Hence, we shall answer only the first…
Q: An improvement in technology raises labor productivity. e. The United States raises exports of new…
A: A macroeconomic model is the AD-AS, or aggregate demand-aggregate supply model. The aggregate…
Q: Why should we reduce the food stamps? List 5 reason why.
A: In United States, the Food Stamp Program is a federal aid program with the main motive of an…
Q: a. The equilibrium price level and real GDP in this economy are respectively OA. 80; $10 trillion.…
A: Price level in economics refers to inflation or the purchasing power of money. In other words,…
Q: plain the meaning of internal balance or government balanced budge
A: Budget refers to the financial statement which contains the government expenditure and revenue. The…
Q: Explain Sraffa’s critique of the Marshallian industry supply curve based on diminishing returns…
A: Partial Equilibrium is defined as an analysis which only takes into consideration the effects of a…
Q: Consider the diagram to the right in the next column. The line represents the economy's growth…
A: Peak is the point where the real GDP is high. Trough is the point where real GDP is lowest.…
Q: Consider the market for gasoline, illustrated in the figure to the right. The equilibrium quantity…
A: Equilibrium is a state of rest in the market where the forces are in a steady state and do not…
Q: Some Caribbean countries give tax credits to homeowners who wish to install solar panels in their…
A: When Caribbean countries provide tax credits to homeowners who wish to install solar panels is a…
Q: Cindy takes a summer job and earns an after-tax income of $3,000. Her living expenses during the…
A: Given information: After-tax income = $3000 Living expenses = $2500
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- img' (a If po increases, what happens to the demand and supply of public transportation (shifts left/shifts right/doesn’t change) What happens to the equilibrium quantity and price for public transportation? (increase/decrease) (b)At a given price p, as oil becomes more expensive (po increases), does the (own) price elasticity of demand for public transportation increase / decrease / stay the same? (c) Calculate the cross-price elasticity of public transportation demand with respect to the oil price po, at the point p = 1 and po = 2. Are the two goods (public transportation and oil) substitutes or complements, or unrelated?What would the gasoline price elasticity of supply mean to UPS or FedEx?The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)
- QUESTION 14 Explain the concept of supplier-induced demand (SID). What is it? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14pxs/49542/quizzes/124857/take D Question 6 Which of the following is true about product X? A change in price of X changes supply of a product X A change in price of X changes the equilibrium quantity of product X A change in price of X changes quantity supplied of a product A change in price of X changes demand of a product X Question 7 If the cross price elasticity of product -3, between two goods, which of the following is true The two goods are complements, and a price increase in one good will cause an increase in the quantity demanded of the other. The two goods are complements, and a price increase in one good will cause an decrease in the quantity demanded of the other. The two goods are substitutes, and a price increase in one good will cause an increase in the quantity demanded of the other. The two goods are complements, and a price increase in one good will cause an decrease in the quantity demanded of the other. PELOTO MacBook Air A BA D1 Quantity (per day) Suppose the demand curve shifts to the right and the supply curve shifts to the Right by more than the demand curve. The new demand curve will be upward sloping v and the new supply curve will be downward sloping v
- (a)Diagrammatically show and explain how oil prices dropped as concerns over fuel demand in the near term in COVID-19 pandemic hit Europe and the United States. (b)Diagrammatically show and explain what happened to the oil market if the price remained unchanged despite the concerns over the fuel demand. (c)You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for…an Layout References Mailings Review View Help CA ..A following questions. Quantity Demanded (bushels) 40,000 Price per bushel (in $) Quantity Supplied (bushels) 2 4 36,000 4,000 6. 30,000 24,000 8,000 16,000 10 20,000 20,000 28,000 36,000 40,000 12 18,000 14 12,000 16 6,000 a) What are the equilibrium price and quantity of wheat? Answer: the equilibrium price is $10, and quantity of wheat is $2000 bushels. b) Suppose the prevailing price is US$12 per bushel. Is there a shortage or a surplus in the market? Answer: c) What is the quantity of the shortage or surplus? Answer: d) How many bushels will be sold if the market price is US$4 per bushel? Answer: ited States) B Focus REDMI NOTE 9 AI QUAD CAMERA 144PRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate some
- Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100M1 Assignment 3 Submission Instructions Assignment 3: Demand and Supply The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books: Price/E-Book Quantity Demanded Quantity Supplied $18400010,000 1650009500 1460009000 1270008500 1080008000 990007500 8100007000 7110006500 6120006000 5130005500 4140005000 2150004500 Assignment Guidelines: Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based on the data above. (Save this file because you will re-work it later in the assignment.) When finished, copy and paste or import your graph into an MS Word document. (Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorialslink at the top of the page.) In your MS Word document, below your imported graph, respond to the following:…Question 6 [A new drug called 'LowG', taken together with any food, reduces the glycemic index (a measure of the impact of the food on blood sugar) by 50%. Annual demand for this new medication can be described by the following table:] Quantity (millions of milligrams) 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Price ($) 1000 900 800 700 600 500 400 300 200 100 0 a) [Rache, a pharmaceutical company, holds the patent on LowG and therefore is the only legal producer of the drug for the next 15 years. Calculate total revenue (TR) and marginal revenue (MR) for Rache at each price. Both Total Revenue (TR) and Marginal Revenue (MR) correctly calculated.