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Q: Consider the following production function q = F (L, K) = L²K What is the marginal rate of substitut...

A: Marginal rate of technical substitution (MRTS): - it is the rate that shows the number of one input ...

Q: 29. The price-weighted iñdex co three stocks is A. 30 B. 40 C. 50 D. 60 E. 70 Consider the following...

A: here we calculate the price weighted Index which are as follow-

Q: FIGURE #1: Price (dollars per ton of plywood) Price (dollars per ton of plywood) D2 D DI D2 Quantity...

A: In an effort to protect endangered species from the effects of logging in America's national forests...

Q: When AP L is positive but declining, the MP L could be (i) declining (ii) zero (iii) negative or (i...

A: the correct answer is (i) declining  

Q: TC = 200 + 60Q+ 2Q? What is the average variable cost when 4 units are produced? Enter as a value. 2...

A: Average variable cost is the cost per unit here we calculate which are as follow-

Q: The price of Good C increases by 70%, causing the quantity consumed of Good D to increase by 50%.  I...

A: The substitute goods are used for each other. Rise in price of one good leads to the demand for anot...

Q: The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000 Calcula...

A: We are given that:- Explicit costs = $800 Implicit costs = $550 And the total revenue = $3000 We nee...

Q: A 2,000 square foot house New Jersey costs $1, 714 each winter to heat with its existing oil burning...

A: here we calculate the simple payback period of this proposed investment by following method given be...

Q: IRBs are empowered by 2 agencies of the federal government in United States .Which are they ?

A: Institutional Review Board:- The Institutional Review Board (IRB) is a regulatory authority charged ...

Q: List 2 countries from each category; least developed and developing countries and compare and contra...

A: A domain in which items and services are produced, distributed, traded, and consumed by diverse agen...

Q: invest 30,556 today and expect a reimbursement every 6 months with a ROR of 0.1 compounded semi-annu...

A: Given Information Rate of Interest (r)    = 10%Number of years(n)   = 3Annual compounding (frequency...

Q: In the economy, Nominal Interest rate is 2% and real interest rate is 1.5% Calculate inflation

A: We are given that:- Nominal interest rate = 2% Real interest rate = 1.5% We need to calculate inflat...

Q: How would imposing a minimum wage below the market-clearing wage affect employment in a competitive ...

A: Minimum wage is an example of a price floor.  The price floor is a regulated price that prevents the...

Q: How much should I expect a lump sum from a deal at the end of 3 years if I start investing today at ...

A:

Q: 1a. Define isoquant and isocost. Explain with a graph. What is firm’s expansion path? 1b. Define ma...

A: Any corporation that aims to make a profit by manufacturing or selling items or services – or both –...

Q: The figure below shows the domestic demand (Dd) and domestic supply (Sd) curves of mopeds in a count...

A: Given:- World Price; Pw= $750 New export price with quota; Pw+q= $715 Domestic Price; Pd= $800  

Q: Describe the relationship between the marginal product and the total product of a firm

A: In economics, the production process is one of the primary activities and the output generated from ...

Q: When a tax is levied on a good, what happens to the market price and why? Select one: O a The market...

A: when the government intervenes the free market by imposing tax on the good, the tax increases the eq...

Q: rder to boost ticket revenues, an economist would advise: Group of answer choices decreasing the p...

A: * Answer :-  * The Option (C) is correct. Elasticity=0.89 * The value is less than 1 so the elastici...

Q: Assume that the market for beef is perfectly competitive and in equilibrium. Which of the following ...

A:

Q: We can identify the term "Econometrics" as a division of economics that A. reviews the behaviour of ...

A: Econometrics is the quantitative utilization of statistical and mathematical models utilizing inform...

Q: Would a perfectly competitive firm produce if price were less than the minimum level of average vari...

A: A perfectly competitive firm is referred to as a price taker since the pressure of rival firms drive...

Q: USE FIGURE #1:  Contractors can use plywood or bricks to construct walls.  Suppose the price of bri...

A: Here, it is given that the contractor can use brick or plywood to construct walls, which implies tha...

Q: In economics, the terms efficient, effective and productive are often known. Question:    a. Explai...

A: Answer - Part A Answer - Need to find- the difference between each of these terms Efficient = effici...

Q: Which of the following is not an “acronym” economy?

A: An acronym is a word shaped by contracting an expression by joining specific letters of words in the...

Q: New technology for producing plywood is developing.  Which of the figures above best illustrates thi...

A: Figure D is the right answer reson :- It happen s to to introduction of new technology due to fall i...

Q: Would you expect marginal utility to rise or fall with additional consumption of a good? Why?

A: Answer:  Introduction: Marginal utility: marginal utility refers to the additional utility received ...

Q: The cashew industry is perfectly competitive and until now each of the identical firms in the indust...

A: multiple choice 1 * Too little because the production has not increased as the demand has increased ...

Q: Explain the relationship between total product, marginal product, and average product

A: Answer: Introduction: Total product: Total product refers to the total quantity of goods produced by...

Q: externality arises when a. not all costs and benefits are included in the price of a good b. a mark...

A: The market failure occurs when the market demand and supply do not deliver the efficient result. 

Q: A firm's faces a constant output price of $5. It produces 37 units and incurs a MC of $3. Which of t...

A: A perfectly competitive firm maximizes profit by producing output at a level where Price equals Marg...

Q: QUESTION 5 A researcher investigates whether children exhibit aggressive acts after watching violent...

A: A researcher investigate whether children exhibits aggressive acts after watching violent television...

Q: Consider an exchange economy with two consumers (A and B) and two goods (x1 and x2). Consumer A has ...

A: Utility function for A uA=xA1xA2 endowment = xA1 = 5, xA2 = 0 Utility function for B uB=min{xB1,xB2}...

Q: Power to a remote transmitting station is provided by a diesel-electric generator unit. The original...

A: The total amount depreciated every year, which is addressed as a rate, is known as the depreciation ...

Q: TABLE #1: The following table shows different points on the linear supply and demand curves for elec...

A: Before any change in the price the equilibrium price is determined by equating demand and supply. So...

Q: The variance of six-monthly changes in the price of a commodity is 90.25, the variance of six-monthl...

A: Optimal hedge ratio = correlation x S.D. of securityS.D. of future contract Where S.D. implies stand...

Q: Attempts Average / 1 6. Scarcity, opportunity cost, and marginal analysis Darnell is training for a ...

A: In economics, people face a tradeoff when selecting an alternative. This means when they have one al...

Q: In a linear demand model, the relationship between quantity demanded and the market price can be exp...

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is...

Q: Suppose an economy produces only cranberries and maple syrup. In 2010, 50 units of cranberries are s...

A: here we find the nominal GDP, real GDP, and the GDP deflator as follow

Q: The Action Toy Company has decided to manufacture a new train set, the production of which is broken...

A: Answer - "Thank you for submitting the question. But, we are authorized to solve only 3 sub parts fo...

Q: Which of the following would definitely result in a higher price in the market for chocolate bars? S...

A: When the demand increases it also increases the price along with quantity demanded, with that increa...

Q: Production Function 40 10 50 20 3 LABOR (Number of workers) un

A: In the short runs, workers are variable inputs and the ovens are fixed inputs Labor  Output MPL ...

Q: 5. For an interest rate of 8% compounded annually, find: a. How much can be loaned now if $5,000 wil...

A: here we calculate the present value of the loan by using the amount of loan given at end of 5 year w...

Q: new machine is purchased on the basis of guaranteed performance. However, initial tests indicate tha...

A:

Q: A binding price floor will, in the short run, Group of answer choices push the price down as a res...

A: The equilibrium is a state in which economic forces like supply and demand are balanced and the valu...

Q: A person has a 2-period utility consumption function U(c1, c2), with a budget function W = c1+c2/1+r...

A: Given: U(c1, c2),  Budget constraint = W = c1+c2/1+r

Q: Q2. Subject: - Engineering Economy i) If a continuousinvestment of $5,600 per year for 29 years lead...

A: Continuous investment making annual payments refers to an annuity cash flow . In the above question ...

Q: Instructions: Round all quantities to the nearest whole number and prices to 2 decimal places. a. Wh...

A: market demand function represents the total quantity of a good demanded by all the individuals at ea...

Q: You are a coin trader. You have $1,000,000, and today one coin costs $2000. Tomorrow the coin will e...

A: Total Money = 1,000,000 Cost per coin = $2000

Q: What are the benefits of mineral resources to the economic development

A: The growth and the development are the two aspects of the economic development. The economic develop...

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.