Tradavia exports its world-famous giant sausages to Gourmland. If the price of a sausage is 8 Tradavian dollars in the home currency and there are 6 Gourmlandian pounds to 1 dollar, what is the price of a sausage in Gourmland?
Q: If a firm can grow and have all inputs, both labor and capital, specializing in a single task, the…
A: The term "production" is used to describe the steps involved in creating an end product from raw…
Q: Paula hires Alfred to manage her store. The left column of the table below shows Alfred’s possible…
A: The efforts put by an employee in the production process of a firm, have deep impacts on the cost…
Q: Direction: Write your answers on the space provided before the number. 1. It is the new form of…
A: Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…
Q: The government of the Republic of Zambia plans to implement an irrigation project to increase maize…
A: All activities have been carried out in monitoring use secondary cost factors, which are formed…
Q: QUESTION 4 In a duopoly, if the firms have agreed to jointly maximize profits, then each firm can…
A: When two companies jointly control all or almost all of the market for a certain commodity or…
Q: The data are for a firm operating in perfect competition. Marginal Costs 70 Average Variable Costs…
A: Given price of the product = 80 $ Under perfect competitive market structure, the firm will produce…
Q: In the long run, what are the factors that will lead to lower interest rates? Elaborate answer in…
A: The interest rate is the cost at which commercial banks lend to the general public. With the loan…
Q: (Table: Demand for Wind-Powered Turbines) Use Table: Demand for Wind-Powered Turbines. The marginal…
A: Demand Schedule: Demand schedule for a good is a combination of different price and optimal quantity…
Q: Please answer full questions including fill in the blanks.
A: When an initial injection into a circular flow results in a larger ultimate rise in real national…
Q: Consider the market for cod, and then choose the correct statement. O A. Cod fishing is an example…
A: When a group of people in a community use a shared resource for their own gain, the resource for the…
Q: Required information Determine the amount of any depreciation recapture (DR), capital gain (CG), or…
A: The depreciation method utilized in the United States for tax reasons is known as the MACRS, or…
Q: 4. Completion of the marginal cost function by selling MC = Q2-20Q + 75. A. Determine the…
A: Cost refers to all the expenses that incur in the process of production. Marginal cost refers to the…
Q: Which line represents better terms of trade? (Slide: Improvements in terms of trade) A. PPB B. CP1…
A: The terms of trade is an international concept that deals with the exports and the imports of a…
Q: 2. The profit function of a firm is 7(x, y) = px+qy-ax²-By², where p and g are the prices per unit…
A: The profit function of a firm represent the profit of firm at various level of price or inputs or…
Q: QUESTION 7 "Suppose the parameters of the IS curve are a=0,b=3/4, and r= 2%. Suppose further that…
A: Part 7 Option D is correct. Since, the government launches a fiscal stimulus measure of either…
Q: y-axis A 240 Zone 4 Zone 1 1 Zone 3 B Zone 2 In this graph, zone 2 is characterized by x-axis…
A: Swan model explains simultaneous existence of internal and external disequilibrium in the economy.
Q: Direction: Write T if the statement is correct, and F if the statement is incorrect. _____ 4. As a…
A: Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Explain whether or not each industry fits the definition of an oligopoly. What are the dominant…
A: Oligopoly markets will be markets overwhelmed by few providers/suppliers. They can be tracked down…
Q: Consider a small town with two competing restaurants: Doug’s Diner and Betty’s Bistro. There is 1000…
A: Nash equilibrium has been attained in the game when no player, not even one who is aware of the…
Q: 6. The level of a consumer's marginal utility for good x is indicated by the equation MUX = 4XY³…
A: A phrase used to assess the value or worth of an item or service is utility.Utility is more exactly…
Q: Neoclassical theory supports the view that the 'market exchange' is the best way to allocate…
A: NEOCLASSICAL THEORY A theory that focuses on the demand and supply being the main driving force…
Q: What are the problems of using Ricardo's theory of comparative advantage in the ac- count of the…
A: The Ricardian model studies international trade. It assumes that the two countries are producing two…
Q: Assume the country of Ballear is running a greater budget deficit and is forced to borrow large…
A: The exchange rate refers to the rate at which one country's currency is exchanged for the other…
Q: QUESTION 21 When a product becomes more fashionable, what does happen in the market? a. Total…
A: If a product becomes more fashionable, it will encourage consumers to buy more of it due to which…
Q: The biological relationship between the growth for the fish population and the size of the fish…
A: The term "sustainability" refers to the process of reaching current objectives without negatively…
Q: Suppose the world price of sugar, Pw, is higher than country A’s autarky price, and country A offers…
A: Export subsidy is the per unit amount provided to the sellers by the government in order to increase…
Q: If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is your total…
A: Marginal cost is the cost of production incurred for each additional output generated. It can be…
Q: QUESTION 14 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. O True…
A: When talking about different types of cost curves, it can be said that there is a significant…
Q: Exercise 1: Stackelberg model Suppose there are two firms, Firm 1 and Firm 2. Both firms have the…
A: Stackelburg model does recognise interdependence and take their decision simultaneously.
Q: ATC AVC
A: A monopoly is a market structure where there is only one firm in the market for a good or service.…
Q: What is the maximum profit when the the profit-versus-production function is given below? P is…
A: In the field of economics, the term "production function" refers to an equation that expresses the…
Q: Question 16.8. "Employers set wage rates equal to marginal value products," True or False? Explain.
A: Marginal revenue product refers to the marginal revenue earned by each additional factor. For labor,…
Q: Given the following information, derive the Lorenz curve and compute the Gini coefficient. Income…
A: Lorenz curve and Gini coefficient are the two measures of the inequality that prevails in any…
Q: Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt…
A: GDP is defined as the value of the final goods and services produced within the national boundaries…
Q: 2. Why is there a need to reduce to the minimum level the income inequality in the Philippines.…
A: Income inequality refers to the situation where certain sectors of the economy suffer from poverty…
Q: Why is business failure a necessary phenomenon in a free economy? It allows entrepreneurs to deduct…
A: Free economy represents a type of economy in which access to productive resources in an economy in a…
Q: In order to maximize profits, a monopolist would increase output__ A) as long as the marginal…
A: Monopoly is a type of market in which there is only one seller in the entire market.
Q: What is meant by externalities in economics. Explain in detail.
A: An externality basically refers to a cost or benefit of an economic action that is experienced by a…
Q: Individual demand curve and aggregate demand curve are both downward-sloping, but for different…
A: The entire amount of goods and services that all consumers in the economy are requesting is referred…
Q: In economics, what is an example of selection?
A: Economics refers to one of the branch of social studies which focuses on the living of people on the…
Q: 5) As the price of a frozen banana increases from $3 to $5, quantity demanded for ice cream…
A: Substitute goods are those goods in which when price of one good increases , the demand for other…
Q: what are some primary, secondary and key stakeholders for obesity
A: Primary stakeholders are those who are directly affected by the project, such as benefit tenants,…
Q: Twin deficits refer to the combination of government budget deficit and trade deficit. The…
A: The budget is a document prepared by the government that includes a list of all the revenue streams…
Q: Q2 Workers' skills in one industry do not affect the labor market in other industries. True False…
A: Note: You have uploaded multiple questions at a time. Hence, we shall answer only the first one for…
Q: Which of the following statements is true about the Federal Reserve? OA. The District Banks regulate…
A: Main function of Federal reserve is Conducting monetary policy – The federal reserve aims to conduct…
Q: IC OM B D X Life/years OY OZ OW OV Y Z $320,000 $340,000 $45,000 $35,000 $110,000 $210,000 $20,000…
A: Benefit/Cost Ratio. Measure computed by dividing the incremental monetized benefits associated to a…
Q: 2. Deviating from the collusive outcome Mays and McCovey are beer-brewing companies that operate in…
A: The profit-maximizing quantity is such a quantity where the marginal revenue curve intersects the…
Q: Which of the following are typically associated with higher wages or earnings? (Select all that…
A: Wages are directly related to the skills of the workers, their experience, and the type of jobs.…
Q: Consider a pure exchange economy with complete markets so that the Welfare Theorems apply. Which 2…
A: Local non-satiation represents consumer preference which shows that there is always an alternative…
Tradavia exports its world-famous giant sausages to Gourmland. If the price of a sausage is 8 Tradavian dollars in the home currency and there are 6 Gourmlandian pounds to 1 dollar, what is the price of a sausage in Gourmland?
Step by step
Solved in 2 steps
- Why does the Philippines import rice from other countries even though rice can be produced in our countryYou work for a Nova Scotia Company trying to successfully enter the cranberry market in Australia. Analyze the entry country (Australia) based on the following; What are the major exports, dollar value, and trends? What are the major imports, dollar value, and trends? Does the entry country have a surplus or deficit for trade? What are the exchange rates? Are there any restrictions on currency trade? You should also consider sweat shops, skilled labor, employee unrest, political and social activists and labor unions in your analysis.What factors will shift the supply and demand for currency?
- Explain with the help of a graph the effect of an increase in the relative price of the exported good of a country on its welfare.The small happy Kingdom of Pollyanna does not trade with the rest of the world, but uses U.S dollars for its currency. Its domestic price of tofu is $1 per pound and the Kingdom produces and consumes 5 tons of tofu. The world price of tofu is just $0.50 per pound. At this price, the Kingdom would produce only 2 tons of tofu and would consume 8 tons of tofu, and thus have to import 6 tons of tofu. What is the deadweight loss in the tofu market associated with the Kingdom staying closed to trade? (Note: 1 ton = 2000 lbs.)The small happy Kingdom of Pollyanna does not trade with the rest of the world, but uses U.S dollars for its currency. Its domestic price of tofu is $1 per pound and the Kingdom produces and consumes 5 tons of tofu. The world price of tofu is just $0.50 per pound. At this price, the Kingdom would produce only 2 tons of tofu and would consume 8 tons of tofu, and thus have to import 6 tons of tofu. How much consumer surplus would the Kingdom gain from opening up to trade? (Note: 1 ton = 2000 lbs.)
- If the euro price per dollar falls, what impact will this change have on the European demand for U.S. goods and the cost of U.S. goods to Europeans? a European demand for U. S. goods Cost of U.S. goods to Europeans Increases Increases b European demand for U. S. goods Cost of U.S. goods to Europeans Decreases Increases c European demand for U.S. goods Cost of U. S. goods to Europeans Decreases Decreases d European demand for U.S. goods Cost of U.S. goods to Europeans Decreases Remains unaffected e European demand for U.S. goods Cost of U.S. goods to Europeans Increases Decreases.The purpose of this assignment is to become familiar with the terms import and export, and then discuss advantages or disadvantages of buying imports versus buying domestic products. You could, for instance, write about an imported automobile, stereo, or household appliance that you bought or considered buying. Include all of the following points in your discussion: 1. If you were a retailer, would you want to sell domestically made goods or imported items? Please explain why you made this choice. 2. If you wanted to sell a good or service to customers in other countries, what sorts of items do you think you could export? 3. In your opinion, should the United States' Federal Government support companies that want to enter export markets? Please explain.Do you think a country should have more imports or exports, and explain your reasoning
- The United States has an absolute advantage in producing sugar over all of the other sugar producing countries. Does this fact mean that we should not import any sugar from the other countries?Suppose India decides to remove the tariff, show the effect of this change on India’s imports on the graph. Clearly label the new domestic quantity demanded and the quantity supplied. You must use the same graph as you have drawn in answer to Part a to show this new scenario. How does this policy affect consumers, producers, and the government in India? You only have to state who benefits or harms from the policyIt is said that tariffs varied and are used based on economic situation and stance. why is it used based on economic situation and stance?