A theater puts on sale 4,000 tickets for a Saturday night performance, this quota is the maximum capacity of the theater, taking into account the capacity per COVID. The selling price of each ticket is unique and amounts to $1,200. What can we affirm with respect to the previous text? I. Theater tickets have a price elasticity of supply greater than 1. II. Theater tickets are absolutely inelastic. III. Theater tickets have a price elasticity of supply equal to zero. Select one: a. II and III b. I and III c. III only d. I only e. Only II

Q: Assume that the average product for six workers is fifteen. If the marginal product of the seventh…

A: The marginal product refers to the change in total output due to the employment of an additional…

Q: A country B monopolist sells solar panels to country A at $210, and to country C at $220 per unit.…

A: Dumping is a technique used by countries in which a country sells a product at a lower price to…

Q: What are the implications of this model for "convergence" of income levels and income growth rates -…

A: Economic analysis is the precise investigation of how individuals, organizations, state run…

Q: The following data are the seasonally adjusted percent changes from the preceding month for the…

A: Core CPI helps to measure inflation in an economy by taking into consideration the inflation of all…

Q: Which of the following exemplifies a microeconomic question? What is the current national rate of…

A: Microeconomics is a branch of economics that focuses on the study of individual economic agents and…

Q: Question 4 If the semi-elasticity between x and y is -2, what does it mean? A. When x decreases by…

A: A semi-elasticity between X and Y is defined as the percentage change in Y for a unit change in X

Q: Use the bar graph from the World View "GDP per Capita around the World" to answer two questions.…

A: Gross Domestic Product (GDP) per capita is a measure of a country's economic performance and…

Q: If the purpose of a tax is to decrease the amount of a harmful activity, then the tax would be most…

A: Supply and demand both are affected by the imposition of tax. The imposition of tax changes the…

Q: One hundred persons were asked, "Do you favour regional integration?". Of the 35 that answered "no"…

A: The given question has been answered from the perspective of 'Econometrics'.A contingency table is a…

Q: If the growth rate is 1.9 per year how many years will it take for the output to double (enter in 2…

A: Rule of 70 is used to calculate the time period taken to double the output.Tine taken to double the…

Q: 10. What policies can the government of a free-market economy implement to stimulate economic…

A: Economic growth refers to the expansion in the production of the goods and services in the economy…

Q: factor 2 is $12, in what proportions should the firm use factors 1 and 2 if it wants to maximize…

A: Production function exhibits the relationship between the inputs and the output. Profit is the…

Q: Sunday 26th 2023 Analysis II: For expansion purposes, the company signed a lease of a 50,000 $…

A: The present worth of operations means the total current value of all cash flows associated with a…

Q: Suppose the nominal interest rate on savings accounts is 12% per year, and both actual and expected…

A: Real and nominal interest rates are two different concepts used in finance and economics.The nominal…

Q: anical pencils in which the government has imposed a sales ers. uyers and the quantity of mechanical…

A: When tax is imposed on suppliers, supply curve will shift to the left. Suppliers will produce less…

Q: The diagram to the right shows a hypothetical demand curve for apples. The slope of this curve is…

A: The slope of a demand curve represents the relationship between the price of a good or service and…

Q: Monopolistically competitive firms: A. incur losses in both the short run and long run. B. may…

A: A market structure known as monopolistic competition blends aspects of perfect and monopoly…

Q: Suppose that the quantity demanded for Windows 11 operating system is given by q = 320 − 2p, where p…

A: The demand function for Windows 11: Total cost function: Marginal revenue: The marginal revenue…

Q: If you borrow $24,000 now at an interest rate of 10% per year and promise to repay the loan with…

A: An interest rate is the amount of interest due per period, as a proportion of the amount lent,…

Q: Consider the following sequential game. Wally first chooses L or H. Having observed Wally's choice,…

A: Game theory is a part of mathematics and economics that concentrates on how people or substances go…

Q: 14. Application: Demand elasticity and agriculture The following graph illustrates the market for…

A: The price elasticity of demand signifies the percentage change in demand for a given change in the…

Q: A university spent $1.4 million to install solar panels atop a parking garage. These panels will…

A: The marginal cost re­fers to the increase­ in total cost when a greater quantity is produced. It…

Q: 2. Suppose a country which produces only agricultural goods and electronic goods. Both goods use…

A: A production possibility curve (PPC), also known as a production possibility frontier (PPF), is a…

Q: A large standby electricity generator in a hospital operating room has a first cost of $61,000 and…

A: The annual worth me­asures the overall cost of an inve­stment or project over its life­span. It…

Q: Suppose a competitive firm can sell its output for $7 per unit. The following table gives the firm’s…

A: The short run production function is a concept in economics that defines the relationship between…

Q: Exercise 5 For each of the production functions below: (1) find the marginal product of labor (i.e.,…

A: Production function : q (L ,K ) = 5L0.75K0.25Where , L : labor input K : Capital input Hi there , as…

Q: The production possibilities model is illustrated with a negatively sloped line because a. of…

A: PPC: Graphical representation of the combination of two goods that can be produced in the economy in…

Q: Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total…

A: A perfect competitive market:A perfectly competitive market is one where there are many sellers and…

Q: In a city where the equilibrium hourly wage for unskilled, entry-level workers is $11, the U.S.…

A: Price floor is the minimum price set by the government above the equilibrium price in the market to…

Q: Which of the following policies would be advocated by proponents of stabilization policy when the…

A: The stabilization policy is defined as the measures taken by the government through fiscal and…

Q: 13. Assume that we compute current dollar GDP for 2021Q2 and find that it rose from 2020Q2. But we…

A: GDP stands for the gross domestic product. It refers to total monetary value of all final goods and…

Q: When labor usage is at 12units, the output is 36units. From this we may infer that a) the marginal…

A: The marginal product of labor states that if we increase labor by 1 unit, the output changes by how…

Q: Consider a product market with two consumers X and Y with demand functions Px = 80 - Qx and Py =…

A: Px = 80-Qx Py= 160-2Qy MC = 90

Q: swered Costs per Unit (dollars) 1000 900 800 700 600 500 400 300 200 100 0 4 Average total cost B…

A: In perfect competition, There exists a large number of buyers and sellers. The firm will produce…

Q: Suppose that firms face the following production function: Q=InL +Ink. What is the degree of…

A: Production function:-Differentiation of Q with respect to L and K, we will have:-Marginal product of…

Q: j. Can you verify that the post-merger total welfare strictly increases in the synergy level a? k.…

A: An oligopoly is a type of market structure in which a few larger companies control a large portion…

Q: Last week, 6 swedish kroner could purchase one U.S. dollar. This week, it takes 8 to purchase one…

A: Exchange rate:The exchange rate refers to the rate or value at which one country's currency is…

Q: Maria's Pizza Shop incurs $800,000 per year in explicit costs and $120,000 in implicit costs. The…

A: Total revenue is the product of price and quantity. Monetary expenses are the explicit cost.…

Q: Assume a cost improvement project has only a firs cost of $100,000 and a monthly net savings, M…

A: The internal rate of return (IRR) is a financial metric used to evaluate the potential profitability…

Q: An electronic device is available that will reduce this year's labor costs by $8,000. The equipment…

A: Finding the Net Present Value of a project by taking its net cash flows over its whole life is a…

Q: Which of the following is NOT an endogenous variable in the Romer model? O The stock of knowledge…

A: In the Romer model of economic growth, which focuses on the role of innovation and knowledge…

Q: It's the Superbowl. The Seahawks are on the goal line with only a few seconds to go. They can pass…

A: The average lottery payout is known as the expected payoff. If someone consistently chooses a…

Q: PQ7.2(b) Case: Average Revenue Demand Curve (AR): P=120-0.02Q Weekly Production (Q) Price (P)…

A: The demand curve represents the quantity demanded by consumers at different price levels.The…

Q: Two students, Ryan Wattenberg and Emma Bennett, are discussing the idea of convergence over coffee.…

A: Convergence: Convergence refers to the idea that poorer or less developed countries will, over time,…

Q: Onsider the following dynamic game:

A: If players move consecutively or frequently throughout the course of the game, it is dynamic.…

Q: The figure above refers to the market for coffee. What might cause a shift from the original demand…

A: The link between the amount of a product provided and its price, while maintaining other variables…

Q: Troye is a musician who sells his songs on an online music site. The price of a song download…

A: Price elasticity of supply: It measures the percentage change in the quantity supplied for a 1%…

Q: Two firms produce and sell differentiated products that are substitutes for each other. Their demand…

A: The e­quilibrium price represents the point where the quantity of a good that consumers are willing…

Q: Increasing prices has no effect on total revenue if a product's demand curve is: O perfectly…

A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

Q: Because perfectly competitive firms are price takers, a permanent increase in the market demand does…

A: A firm operating in a pe­rfectly competitive market finds itself among numerous small selle­rs. The…