Q: 66. Which of the following input factor takes risk, innovates and coordinates A. O Capital B. O Labo...
A: Entrepreneurs takes risks in terms of finance, innovate new ideas, and coordinate with their own tea...
Q: The government Bets a minimum wage above the Current eajuilibrium wase level. (4) what effect does i...
A: Meaning of Consumer Surplus: The term consumer surplus refers to the situation under which the con...
Q: Chemco Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will waterproof anyt...
A: Given: First Cost=$43000 Annual costs=$18000 Annual Revenue=$27000 Salvage value=$4000 Number of yea...
Q: B. As a result of a change in income from 1,975 to 3,875 per month, the consumption of good X change...
A: A good is a normal good when increase in income increases its demand and inferior if increase in inc...
Q: 2. Ann has started working and is saving to buy a house, which requires a down-payment of d. She has...
A: This is essentially an expenditure minimizing exercise for Ann. To be able to save the down payment ...
Q: The Market for Good X is perfectly competitive, with market supply and own-price demand curves given...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: A tax A) places a wedge between the price paid by the buyers and the price received by the sellers. ...
A: Whether the tax is imposed on buyers or sellers, the effect of the tax is same. It leads to ineffici...
Q: The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total ...
A: Lorenz curve is a line which shows income distortion of households which is on x axis and cumulative...
Q: Firms in an industry have the following cost function: C(q)=3q3-6q2+4q. If the market is perfectly c...
A: C = 3q3 - 6q2 + 4q Divide C w.r.t q to get AC => AC = (C / q) => AC = 3q2 - 6q + 4 -----------...
Q: How is a country's economic well-being enhanced through free international trade in goods and servic...
A: International trade refers to the exchange of products and services Bete two nations in the global m...
Q: Draw the short-run average total cost (ATC), average variable cost (AVC), and marginal cost (MC) cur...
A: Average total Cost is the total cost per unit of output. Average Variable Cost is the variable cost ...
Q: d) If a per unit sales tax is imposed on this market, who will pay a larger share of the tax and why...
A: Given information are Q=1600-300P ... (1) Supply: Q=1400+700P ... (2)
Q: The United States exports advanced robotic arms for computer manufacčtuning and manufacturing. This ...
A: Trading takes place when one country engages in importing or exporting goods and services with other...
Q: A customer's promise to pay for goods or services - O increases the company's assets creates liabili...
A: A consumer buys goods and services in exchange of a promise to return the money in future.
Q: Oias tavorite Mexican snacks include flautas and sopapilas. f her $12 budget h represented in the fo...
A: Here, the given graph shows the budget constraint of Olivias with two goods, that are flautas and so...
Q: 4. Standard of living of a country can be raised if it increases A. O Labour force B. O Production C...
A: The standard of living refers to the quality and quantity of products and services available to the ...
Q: Suppose the demand for Apples is given by QA- 100 -4 PA and the current market price is 11. What is ...
A: At the price of 11 QA= 100-4×11=56 units
Q: j) Assume that 1000 cars are going from point A to B in the following traffic network. What is the N...
A: Nash Equilibrium is a game theory concept that identifies the best solution in a non-cooperative gam...
Q: When Marginal Utility is zero, Total Utility is
A: To find : What will be total utility when marginal utilities will be zero.
Q: Write out the equation for output growth with capital, labor and total factor productivity as deter...
A: Growth rate of GDP is determined by the factor productivity, capital and labor. The changes in the t...
Q: Suppose a good costs $5. Then, the government imposes a $2 tax on the good. What will the after-tax ...
A: The exact value of the after tax price will depend on the steepness of the demand and supply curve. ...
Q: I. Increase in interest rates causes the supply curve to shift. II. Monetary expansion causes a decr...
A: Money supply in the loanable funds market refers to the availability of money to lend, whereas money...
Q: A downtown bar serves a drink that UCSB students love. The profit-maximizing owner knows that any gi...
A: Student demand, p = 14-q Non-student demand, p = 6-q Large package of 12 drinks Small package of 4 ...
Q: unded monthly is equivalent to an interest rate of 14 % compounded quarterly?
A: Given interest rate = 14% compounded quarterly Therefore quarterly rate = 14/4 = 3.5%
Q: Which of the following statements is false? A) The GDP deflator includes also imports. B) The CPI i...
A: Price index helps to measure the inflation rate. Inflation rate refers to the percentage change in C...
Q: Suppose the equilibrium price for good quality used cars is $20,000. And the equilibrium price for p...
A: The equilibrium price of good quality car PGood =$20,000 The equilibrium price of poor quality car P...
Q: 2. Show graphically that tax cuts are a lesS effective fiscal policy tool the greater the sensitivit...
A: In an economy, when investment is highly sensitive to the interest rate, it is the situation when ID...
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the dema...
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...
Q: Consider farms in Ontario that produce corn or wheat on their land. Small farms have land that is va...
A: In macroeconomics, the PPF is the set of points at which a country's economy is allocating its resou...
Q: The production function of a small firm that produces tarpaulin is given by the table below. L 4 6 8...
A: The formula for output elasticity with respect to labor is calculated as ε=% change in quantity of o...
Q: 3. This question is about worker-employee matching. a) Explain and represent graphically why if ther...
A: Introduction: Equilibrium is that the situation during which market provide and demand are balanced,...
Q: Import and export of different varieties of wine between two countries is considered as O a. horizon...
A: Intra-Industry Trade: Intra-industry trade refers to the buying and selling (or exchange) of similar...
Q: Suppose the short-run production function is q = L?. If the marginal cost of producing the ninth uni...
A: The term "cost of production" refers to all the costs that are involved when a company offers a serv...
Q: A) the government bears most of the incidence of a tax on gasoline. O B) sellers bear most of the in...
A: The industry is an important economic part that gives a closely related set of natural resources, go...
Q: The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred ...
A: Estate tax: It is the tax that is imposed on the property when some individual died when the people ...
Q: 39. Note the following figures: Net profit 2.5% Gross margin $7,000 Operating expenses $6,600 Find: ...
A: The Cost of goods sold is one of the most important component. The gross margin is calculated by ded...
Q: Which of the following statements is correct? A) Employment rate + unemployment rate = 1 B) Partic...
A: The statement which follows the definition is always true.
Q: Recall that homothetic preferences map into income offer curves that are straight lines through the ...
A: Homothetic Preferences's conditions The MRS (Marginal Rate of Substitution) of the IC (Indifferenc...
Q: Instructions: Round your answers to two decimal places. Enter positive values for elasticities (abso...
A: We will answer the first question since the exact one was not specified. Please submit a new questio...
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: Vhich of the following accounts is classified differently from the others O Prepaid Rent D Owner's C...
A: Which of the following accounts is classified differently from the others listed
Q: How would you best characterize which class of value a polar bear in the Arctic might represent to m...
A: This module will cover the following topics: 1) monetary valuations of environmental goods, 2) The s...
Q: Which of the following would increase the demand for beef? A.) lower pork prices B.) higher prices ...
A: The factors which affect the demand of a product are: 1. Price of substitute goods 2. Price of compl...
Q: Italy has a GDP per capita of 33,000 Euros. The exchange rate is 0.0436 Euros per 1 Mexican Peso. Ca...
A: Given Italy's GDP per capita =33,000 Euros. Exchange rate is 0.0436 Euros per 1 Mexican Peso.
Q: Consider an economy that produces only two goods: Food and Clothing. The use of the resources of thi...
A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for...
Q: 66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O Labo...
A: In an economy, there are four factors of production, namely Land Labour Capital Entrepreneur
Q: Suppose Carmina and Allen both produce two products - wallets and shoes made out of fine shell cordo...
A: Absolute advantage: When producing a commodity the individual or country will produce the output at ...
Q: Question: Find The Equilibrium Quantity And Equilibrium Price Commodity Whose Supply And Demand Func...
A: The supply function is the mathematical expression of the relationship between supply and the factor...
Q: Scott consumes only two goods, rice and soup. His preferences are complete, transitive, monotonic, a...
A: Answer: (C)Soup is definitely a normal good
Q: Amid growing concerns that a virus outbreak from Asia will turn to a global pandemic, Ivan the Inves...
A: Given information Investor invests in 3 sectors with 3 strategies. Given pay off Virus contr...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Country Y LEGO Price Odd Osd $ 9.00 250 450 8.00 300 400 7.00 350 350 6.00 400 300 5.00 450 250 The accompanying table gives data for Country Y. Column 1 is the price of a product. Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd. If the world price of the product is $5.00, then Country Y willCountry 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 accompanying table gives data for Country Y. Column 1 is the price of a product. Column 2 is the quantity demanded domestically (Qdd). and Column 3 is the quantity supplied domestically (Qsd). If the world price of the product is $9.00, then Country Y willKorea’s demand for computers isQK = 2, 000 − PkIts supply isQK = −200 + PkChina’s demand for computers isQC = 1, 000 − Pc Its supply isQC = Pc1. Suppose that Korea imposes a specific tariff of $100 on computerimports. Calculate the price of computers in each country and thequantity of computers supplied and demanded in each country. Alsocalculate the volume of trade.
- 5. A graphical comparison of tariffs and quotas Alagir and Ertil are small countries that protect their economic growth from rapidly advancing globalization by limiting the import of rugs to 20 million. To this end, each country imposes a different type of trade barrier when the world price (Pw) is $2,000. In Alagir, the government decides to impose a tariff of $3,000 per rug; in Ertil, the government implements a quota of 20 million rugs. Assume that Alagir and Ertil have identical domestic demand (Do) and supply (S) curves for rugs as shown on the following graph. Under these conditions, the price of rugs is $5,000 per rug in each country. 10000 ( ) 8000 8000 7000 8000 5000 4000 3000 2000 1000 0 0 Pu 10 Do 20 D₁ XX ✩ XX 30 40 50 60 70 QUANTITY (Millions of rugs) 80 S 90 100 (?)ЕОC 10.05 Japan imports crayons into its country; they are a price taker in this market. Suppose the world price of crayons is $5. If Japan imposes a $1 tariff on crayons, what would be the domestic price of crayons and what will happen to the quantity bought? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The quantity bought will increase and the price will be $6. b The quantity bought will fall and the price will be $6. The quantity bought will fall and the price will be $4. d. The quantity bought will increase and the price will be $4.Quantity Supplied Domentically Jerice Domestically Quantity Demanded 1,400 $10 2,200 1,600 9. 2,000 1,800 1,800 2,000 7. 1,600 2,200 6. 1,400 2,400 1,200 Refer to the accompanying table for a certain product's market in Econland, the world price of the product were $6 and a tariff of $t per unit were applied to imports of the product, then the tariff would generate government revenues of Mutple Choice $400 S1200 S600 S000
- 10 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €1 and there are no import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand b. What quantity of baseball caps will be imported? thousand Now suppose a tariff of €1 is levied against each imported baseball cap. C. After the tariff is implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand d. After the tariff is implemented, what quantity of baseball caps will be imported? thousand Price (€ per cap)Kawmin is a small country that produces and consumesjelly beans. The world price of jelly beans is$1 per bag, and Kawmin’s domestic demand andsupply for jelly beans are governed by the followingequations:Demand: QD = 8 − PSupply: QS = P,where P is in dollars per bag and Q is in bags of jellybeans.a. Draw a well-labeled graph of the situation inKawminif the nation does not allow trade.Calculatethe following (recalling that the area ofa triangle is ½ × base × height): the equilibriumprice and quantity, consumer surplus, producersurplus, and total surplus.b. Kawmin then opens the market to trade. Drawanother graph to describe the new situation inthe jelly bean market. Calculate the equilibriumprice, quantities of consumption and production,imports, consumer surplus, producer surplus, andtotal surplus.c. After a while, the Czar of Kawmin respondsto the pleas of jelly bean producers by placinga $1 per bag tariff on jelly bean imports. On a graph, show the effects of…Figure 7-1 Price $54 30 24 0 R S V W X Y % Q₁ Q₂ US Supply O Q0 O Q1 World price Quantity of leather footwear Figure 7-1 shows the U.S. demand and supply for leather footwear. Q2 US Demand Refer to Figure 7-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity of imports? OQ2Q0
- The graph to the right shows the market for water bottles in Thirsty-country with free trade (S1), with tariffs (S2), and with domestic firms only (S3). Shade in the area to show the amount of the tariff collected. Drund irgok: 15 Tritf6-45-15 f 15x (205) Quanty thousandprice supply domestic price- $35 import price + tarif $20 demand 100 300 500 650 850 quantity Based on the graph above, if there is a tariff of $15 per unit imposed on imports in this market: A. 750 units will be imported and tariff revenue to the government will be $11.250 B. 650 units will be imported and tariff revenue to the government will be $9,75O C. 350 units will be imported and tariff revenue to the government will be $5.250 D. 300 units will be imported and tariff revenue to the government will be $4,500The table below represents the quantity of rice demanded for selected countries. Quantity of Rice Demanded (millions of metric tons) Price (U.S. dollars per metric ton) Japan Taiwan South Korea Market Total $600 13 7 8 500 14 8.5 10.5 400 15 10 13 300 16 11.5 15.5 200 17 13 18 What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton? million metric tons Round your answers to 1 decimal place.
