Q: Current account transactions are records of the incomes and expenditures from exports and imports,…
A: Current account records the export and import of goods and services, unilateral transfers in form…
Q: Farley's Frozen Yogurt is a purely competitive firm that sells frozen yogurt cakes. The market price…
A: Market price is basically known to be as the price generally operating where the services or an…
Q: The following prices and quantities produced were recorded in computer land during the years shown…
A: GDP deflector=nominal GDPreal GDP×100
Q: There are three new employees at your company. One has been assigned the cubicle next to yours. You…
A: It is given that the new employee is given a cubicle next to me. We both are dating each other.
Q: There are 2 players. Each has an endowment of 10 dollars and chooses how many dollars to contribute…
A:
Q: country that faces a huge crisis of malnutrition. A recent study has alerted wealthy nations to the…
A: *Answer: * Option d. Liberia is facing a balance of payments deficit is the correct answer.
Q: (a) What combination of goods x and y should a firm produce to minimize costs when the joint cost…
A: Here we have two goods x and y The joint cost function is cx,y=6x2+10y2-xy+30 The firm here has a…
Q: Given the following data R = $1/¥105 F = $1/¥140 i(u.s.) = 10% What is the interest rates in Japan…
A: The value of one country's currency in relation to the currency of another country or economic zone…
Q: Which of the following is NOT included in Canadian GDP calculations? air pollution that contaminates…
A: GDP (gross domestic product) of a country is the market value of all final commodities and services…
Q: Consider the following table of long-run total costs for three different firms: Quantity 1 2 3 4 6 7…
A: Question is related to the topic Economies of scale
Q: Gross domestic product (GDP) is a key measure of the national economy. a) Define GDP and describe…
A: GDP is the sum total of the final values of all goods and services produced in a year.
Q: On our trip, diesel fuel cost averaged €1.80/l. The currency conversion rate in April 2012 was…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Draw the graph of inflation and unemployment in the long run and the short run.
A: The graphical representation of inflation and unemployment is shown by the Phillips curve.
Q: what is the formula for the rate on long-term Treasury bonds?
A: Suppose:Amount paid for bond=$10,000Face value=$15,000Counpon rate=$2000
Q: Which of the following goods is NOT scarce? Opublic libraries Ogarbage clean air in a big city…
A: Economic decisions are those decisions in which people will choose what to do with limited…
Q: A manufacturer's total cost equation per day is given by the equation TC = 440 + 4q+,0001Q². If each…
A:
Q: In an economy with 200 million people, 140 million hold civilian jobs and 9 million are not working…
A: Unemployment is a time period relating to individuals who are employable and actively searching for…
Q: H10. A website offers a place for people to buy and sell emeralds, but information about emeralds…
A: Demand and Supply The convergence of supply and demand determines the price & quantity of a…
Q: Question 3b Income per capita is not a good measure of welfare in an economy. Discuss.
A: Per capita income refers to amount of money earned per person in the economy. It is used to…
Q: Firm A High Price Low Price A = $250 A $325 B = $250 B = $200 A = $200 A $175 B = $325 B = $175…
A: Game theory is concerned with the choice of an optimal strategy in conflict situations.
Q: Suppose that the European Union follows a flexible exchange rate regime. The exchange rate between…
A: Exchange Rate is the relation between the values of two different currencies. The values depend on…
Q: Explain the factors that might cause a country’s exchange rate to depreciate.
A: A fall in the conversion scale/exchange rate is known as a depreciation in the conversion scale. It…
Q: Suppose the spot rate and the 90-day forward rate on the Brazilian real are 3.3054 and 3.3263,…
A: Depending on the market, the definitions of "forward rate" and "spot rate" differ slightly.…
Q: Please explain why customer research should be done. Give at least two examples for different types…
A: Customers are the people who buy the goods and services of the business. It is very important to…
Q: Necessities with no close substitutes: Are likely to have highly elastic demand curves. Are likely…
A: Necessities are the items that are purchased by the people on daily basis. These are the items which…
Q: Q5. Company X, works in perfectly competitive market. where the average $40 price equals marginal…
A: perfectly competitive market , where large numbers of firms and buyers exchange homogenous products…
Q: Consider three economies,each of which has GDP per capita of $100. Trend growth in these economies…
A: GDP per-capita of the country is $100. Trend growth of Economy 1 = 2%, 2.5% and 5% respectively…
Q: What are the expected effects of austerity measures over the longer
A: Austerity measures Austerity measures are economic strategies used by governments to cut spending in…
Q: whats is the economic meaning of the coefficient? 2) describe the meaning of R2 and its value, F -…
A: The economic meaning of the coefficient is that when the everything held constant by what proportion…
Q: Discuss three cases of market failure, focusing on the reasons why they fail.
A: A market failure occurs when resources are not allocated effectively in a free market economy. A…
Q: Who ensures that property rights are protected and enforced? O the property owners the banking…
A: Property rights give the owner legal rights that the property is of owner and no one can take it…
Q: According to the Centers for Disease Control and Prevention, a 40-year-old woman has a 15 in 10,000…
A: Insurance is an agreement in which an insurer repays one more against misfortunes from explicit…
Q: Is it true that if a firm’s technology exhibits the decreasing return to scale, then average…
A: Introduction The scale of production in two factor production function means a given amount of labor…
Q: True or False. Please explain The production function f(x1,x2,x3) = (min{0.5x1;0.75x2 })0.5 ·x30.5…
A:
Q: 3) Diminishing marginal rate of substitution can be seen when indifference curves A) become flatter…
A: The curve that depicts combinations of goods that could provide the consumer with an equal level of…
Q: Discuss the impact of contractionary monetary policy on the LM curve
A: The primary goal of monetary policy is to keep the money supply under control throughout the economy…
Q: Explain why does the government act as a producer of health insurance for certain population group?
A: Health care/insurance coverage is a kind of protection that covers clinical costs that emerge…
Q: variable production cost and the price of a product were both reduced by $1.00 per unit, which of…
A: If variable production cost and the price of of product were both reduced by $1 per unit then break…
Q: The following table shows the nominal interest rate and the annual inflation rate (the GDP deflator)…
A: inflation means rising the average general price level over period of time . And inflation rate is…
Q: The following diagram shows the market demand for titanium. Use the orange points (square symbol) to…
A: Supply Curve is the curve that denotes the different levels of quantity that a producer is willing…
Q: John owns and runs a food truck, which is a 20% chance that his truck will be firebombed by one of…
A: The given probability that damage will occur, P = 20% = 0.20 Probability of no damage = 1 - P =>…
Q: Why did Trump and many of his supporters see NAFTA as "the worst trade deal maybe ever"?
A: North American Free Trade Agreement (NAFTA), a questionable trade settlement endorsed in 1992 that…
Q: List the four factors of production
A: Factors of production are the economic inputs utilised to generate profits. Land, labor, capital,…
Q: For each of the following given information, indicate which form of the efficient market hypothesis…
A: Efficient market hypothesis is a financial theory which says the securities prices reflect all the…
Q: Differentiate, whenever possible, the items bought Purchase products at the highest cost Accomplish…
A: For a businessman organisation, minimising costs is the main challenge that it has to overcome.
Q: the production possibility curve for an economy is a. concave to the origin b. convex to the…
A:
Q: 1) Mr. Bora's disposable income is 10 000 TL. per month. His zero level autonomous consumption is…
A: MPC is the marginal propensity to consume and MPS is the marginal proprnsity to save. We use the…
Q: Q1/ Grades in statistics class are weighted as follows: Tests are worth 50% of grade, homework is…
A: Given; Worth of tests points= 50% Worth of homework points= 30% Worth of final points= 20% Points…
Q: following table of long-run total costs for three different firms: Hand written city 1 2 3 4 5 6 7 A…
A: Economies of scale This is an illustration of a monopoly business model - where the most proficient…
Q: Quantity Total Benefit 0 20 60 300 500 Total Cost 20 Marginal Benefit 5 Marginal Cost
A: The basic concept that will be used to fill missing values in the given table Marginal benefit is…
Step by step
Solved in 2 steps with 1 images
- Find the marginal rate of substitution given the following utility functions for x and y: U(x) = 2xy U(y) = 3x1/3,2/3 O x1/3 / yA/3 O 213 x213y1/3 y2/3 / x1/3 'yA/3 /x1/3Define the Marginal Rate of Substitution between two goods (X and Y).If a consumer’s preferences are given by U(X,Y) = X1/4Y 3/4, compute the consumer’s marginalrate of substitution as a function of X and Y. Calculate the MRS if the consumer has chosen toconsumer 12 units of X and 30 units of Y.Consider the following utility function. U=U(X,Y)=X0.2Y0.8 Find the marginal utilities. Determine their signs. Provide the economic interpretation of the signs of these marginal utilities. Determine whether the law of diminishing marginal utility holds for both goods.
- Find the marginal utility (MU) and marginal rate of substitution (MRS) of following utility functions. 1. U(x1,x2)=ln(x1)+x2,findMUx1,MUx2,andMRS(x1,x2) 2. U(x1,x2)=(2x21+x32)1/2,findMUx1,MUx2,andMRS(x1,x2)Charlie's utility function is (1-a) U(xa, XB) = Ax“xr-) where A > 0 and a > 0Calculate the marginal rate of substitution (MRS12) for the following utility function: U(q1, 92) = (91 + 9q2)². What is the value of MRS12 at bundle (5, 5)? Please round your answer to two decimal places if necessary.
- Please solve all parts (d and e) Find the marginal rate of substitution of y for x [MRS(x,y)] for the following utility functionsIt is common for supermarkets to carry both generic (store-label) and brand-name (producer-label) varieties of sugar and other products. Many consumers view these products as perfect substitutes, meaning that consumers are always willing to substitute a constant proportion of the store brand for the producer brand. Consider a consumer who is always willing to substitute 4 pounds of a generic store brand for 2 pounds of a brand-name sugar. Do these preferences exhibit a diminishing marginal rate of substitution? Assume that this consumer has $24 of income to spend on sugar, and the price of store-brand sugar is $1 per pound and the price of producer-brand sugar is $3 per pound. How much of each type of sugar will be purchased? How would your answer change if the price of store-brand sugar was $2 per pound and the price of producer-brand sugar was $3 per pound?Sarah has the following utility function: u(x, y) = 10x + 12y.
- suppose a consumer consumes two goods x and y with utility function u=x^0.5+y^1.5, does the utility funciton exhibit diminishing marginal utility for (i) x (ii)y?Select the function that represents the marginal utility of X for the utility function: U = X³y². Select one: а. 3Х2ү2 b. 0.33X²Y с. 3X-3ү2 d. 2x²y² е. 3Х3ү2I am unsure the direction the utility functions would go in , with this specific scenario
