Commodity Fetishism is said to be a distortion in the relations between people.  What does this mean?  What do we lose touch with? Please use an example to illustrate how commodity fetishism works.

Q: Which of the following would not increase autonomous consumption spending? Select an answer and subm...

A: Autonomous consumption can change in response to life situations such as a move the loss or gain of ...

Q: consumers utility function is given by U(X1, X2)=Xa1X21-a where  A>0, 0<a<1 A consumer also faces th...

A: For finding the consumer's demand function, we need to equate MRS equal to Price ratio of goods i.e....

Q: Angel started to work in 2001 with an annual salary of £20,500. She received a £1100 raise each year...

A: Angel started to work in 2001 with an annual salary of £20,500. She received an £1100 raise each yea...

Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q  − ...

A: Revenue is the product of price and quantity. To get revenue function, first derive the inverse dema...

Q: Joy Lima manages a Sweet Chocolate Bar Store. She charges P100 per bar for her chocolate. You, the e...

A: Here, it is given that Joy Lima charges P100 per bar of chocolate and has a price elasticity of dema...

Q: According to the excerpt in Source 4, how does President Kennedy use economics to build an argument ...

A: When there are more investments made in research and development then it will help to enhance the gr...

Q: Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000...

A: "Accounting profit is obtained by deducting explicit costs (these costs represent the expenses of th...

Q: In the following scenarios, you will be given a product and an event. Determine what will happen to ...

A: The demand for any product is based on several factors called determinants of demand. Thus, demand f...

Q: (2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q...

A: We have given that the demand function is q=800-20p             .... (1)  

Q: Firms X and firm Y are maximizing profits. At their respective profit-maximizing price, Firm X's own...

A: Elasticity of demand depicts how much consumer responds with the change in the price level. 

Q: Many states are now imposing severance taxes on resources being extracted within their borders. How ...

A: Ques 2) The correct option is option : A. For the same time period, consumption for depletable resou...

Q: In the specific factor model, with free trade the relative price  of imported goods cannot be  _____...

A: The specific Factor model was originally discussed by Jacob Viner. The name of the model gives its d...

Q: How do insurance companies make money?

A: As a for-profit firm, an insurance company must develop an internal business model that collects mor...

Q: 7-42 A new car dealer advertises financing at 0% inter- est over 4 years with monthly payments or a ...

A: When the effects of compounding over time are considered, an effective annual interest rate is the r...

Q: A gym membership charges their current members a monthly fee on the 1" of the month. Monthly churn r...

A: This problem requires the knowledge of the following topics: 1) Random Variables. 2) Expected Value ...

Q: Suppose that you are considering an investment, which would require you to pay $1,000 up front (toda...

A: Net present value is the difference between the present value of benefits and the present value of c...

Q: Two firms produce Bliffs. They compete by simultaneously choosing prices in a single period. The dem...

A: Monopoly is a market where by a single supplier dominates the whole market and duopoly is a market s...

Q: Consider two developed and developing countries, the population growth rate of developed countries i...

A: Given that; The population growth rate of developed countries is 2 % per year Saving rate = 30% The ...

Q: Question 24 One of the roles of the Fed is to Collect taxes Propose the budget Balance the federal b...

A:

Q: Consider the market for cola soft drinks where Pepsi and Coke are dominating this market with well a...

A: Monopoly is a market where by a single supplier dominates the whole market and duopoly is a market s...

Q: Assuming that there is no government spending or trade, an economy’s GDP is the sum of domestic cons...

A: In the case of a closed economy, where there is no government. The consumption function is given by ...

Q: Consumption Expenditures In Keynesian macroeconomic theory, total consump- tion expenditure on goods...

A: Consumption Expenditure The Household spending on the goods and services, excluding new dwellings, i...

Q: Answer the following questions. 1. In the following weighted voting system example, identify the quo...

A: Weighted voting In any voting system the votes of individual voters decide regarding the final decis...

Q: Consider the growth model with technological progress studied in the course and suppose that the eco...

A: Growth models allow us to quantify the most fundamental elements of the actual growth process by dem...

Q: Kcable is a cable company and has a local monopoly in cable TV (good 1) and fiber Internet (good 2)....

A: Since you have asked a multi-part question and according to the policy, we can only solve the first ...

Q: Which of the following is an example of representative money?   Group of answer choices   Gold ...

A: Representative money is money created by the government and backed by a physical asset such as preci...

Q: Explain how human population, affluence, and technology affect the environment

A: Deforestation, pollution (of the land, air, and water), habitat loss, and increased creation of elec...

Q: The Heckscher-Ohlin model predicts that trade in goods leads to convergence in prices of factors bet...

A: Answer: The Heckscher-Ohlin theorem says that the trade between countries occurs due to the differen...

Q: Consider the Solow model with no technological progress. Aasume that depreciation equals 020, popula...

A: In the mentioned question we have to check whether the golden rule explain the exact condition of th...

Q: DaisyCo is an amusement park company using geographical segment pricing to increase profits. It char...

A: Third degree price discrimination refers to the practice of charging different prices to each segmen...

Q: Choose from the two machines which is more economical: Machine A 8000 Machine B First Cost 14000 Sal...

A: Present worth Machine A Year Cashflow Amount  PVF 16% P.V  0 First Cost 8000 1 8000 1-10 Annu...

Q: An industry having a four-firm concentration ratio of 25 percent Multiple Choice O approximates pure...

A: There are various structures of the market in the economy including oligopoly, perfect competition, ...

Q: The tax cuts of 2017 increased the 2018 disposable income of households by roughly $200 billion. If ...

A: Disposable income: Disposable income is also known as disposable personal income (DPI), is the amoun...

Q: Assuming the supply curve for money is perfectly inelastic and the demand curve for money is downwar...

A: (1) A money supply curve is vertical A money demand curve is downward sloping The intersection point...

Q: Adam Smith would have been a proponent of goavernments manipulating their currency. O True O False

A:   Adam smith believed that the government should not interfere in free market.  Smith believed that ...

Q: You invested $100,000 in a project and received $40,000 at n = 1, $40,000 at n = 2, and $30,000 at n...

A: The data given is as follows:- Initial level of investment done = 100,000 Revenue generated in the 1...

Q: yeglasslux is a single-price monopolist in the eye-glass rame market. It faces a Market demand given...

A: The Profit is maximized where the MR=MC. The monopoly has market power and thus, firm in monopoly fi...

Q: If we observe that employers offer different wages based on which college someone graduated from bec...

A: Answer: Statistical discrimination is based on the satistical data available about the workers and l...

Q: uppose an individual deposits $4,000 into her chequing account, which eventually leads banks to incr...

A: 1. Given initial deposit = 4000 $ Total increase in cash reserves = 4000 Total loans creation =  460...

Q: u plan to deposit $100 per week into a fund that pays interest of 6% per year, compounded quarterly....

A: Given data: plan to deposit 100 dollar per week Interest rate is 6% per year Then the Interest perio...

Q: The quintile distribution of per capita income for 2012 and 2014 are as follows: Quintile Shares 2 3...

A: 2) b) The quintiles show the distribution of per capita income based on 20% brackets i.e. the first ...

Q: All of the following have been used in the past as commodity money EXCEPT: O a. Salt. O b. Gold. Oc....

A: Correct option :- d. Water. Commodity money :- Whose value comes from a commodity of which it is mad...

Q: Question 1 Cost of a stainless vessel in year 2002 was $33,000. Estimate its cost in year 2016 by us...

A: The data presented in the question above is:- In 2022 cost of stainless steel vessel = $33,000 CEPCI...

Q: A company purchased machinery for $ 100,000 on January 1, 2011. The machinery has a useful life of 5...

A: Given: Purchase of machinery=$100000 Useful life=5 year Salvage Value=$10000

Q: Your neighbors pay annual dues to a neighborhood association. This association refunds neighborhood ...

A: Externalities mean uncompensated economic effects of production and consumption that affect consumer...

Q: Activity 2. The Law of Demand and Supply Directions: Analyse this problem. The following data were t...

A: Answer (2.1): The graphical presentation of the demand curve is given below: According to the above...

Q: The Keynesian economic framework is based on an assumption that: A) an increase in government spendi...

A: In economics, different frameworks have different assumptions. And this difference in assumptions le...

Q: OC(12%)Variable (200)( $272)(P/A1, 6%, 12%, 5) X (A/P, 12%, 5) %3D $60,529. Can you please explain h...

A: From the given calculation the information extracted is that 200 and 272 is the annuity amount that ...

Q: For what purposes and how to appy the SPS Agreement?

A: SPS Agreement The "SPS Agreement" (Sanitary and Phytosanitary Measures) establish in January 1, 1995...