The local diner offers a meal combination consisting of an appetizer, a soup, a main course, and a dessert. There are 4 appetizers, 5 soups, 5 main courses, and 4 desserts. Your diet restricts you to choosing between a dessert and an appetizer. (You cannot have both.) Given this restriction, how many three-course meals are possible? --------------------------------------choices
Q: Can you please give me a plagiarism free solution. What is the pro and conc of an open economy.
A: An open economy is a type of economy that trades products, services and financial assets with other…
Q: Identify at least two global concerns that are common in the labor industry. Discuss each
A: The economic sector that uses human labor to produce and distribute goods and services is referred…
Q: The demand for Mehta Thingbobs is described by the function q = 17(5p, - 4p)²/5, where • ps is the…
A: Price is the amount of money that has to be paid to acquire a given product.
Q: True/ False What is the advantage of involving in international trade for a nation.
A: The definition of international trade is the transfer of products, capital, and services across…
Q: The market for good Q is perfectly competitive. However, it features negative externalities. In the…
A: The market for good Q is perfectly competitive. This market has negative externalities. Perfect…
Q: ind the marginal revenue functi R(x)=8x-0.05x^(2)
A: A revenue analysis enables firms to stay on track and make informed decisions about how to spend…
Q: Linda is progressive she believes that a woman should hope to be no more than a housewife
A: In economics the progressive means those who favors or promotes the modernization, change, and…
Q: The bank of Canada is increasing interest rates to reduce canada's high inflation rate to the BANK…
A: Macroeconomics is the branch of economics that studies how an economy functions as a whole. GDP,…
Q: D. Based on the information in parts A - C, find the consumer-, producer-, and social surpluses…
A:
Q: What is the difference between discretionary fiscal policy and automatic stabilizers? How are…
A: Introduction Economy is the organized system of production, distribution, and consumption of goods…
Q: What does income elasticity of demand mean for insurance companies and medical providers for making…
A: Income elasticity in the case of demand is a tool to measure the change in demand for goods with…
Q: What is the 2019 (i.e. percentage m 2018 to 2019)? approximate inflation rate increase in prices
A: The market basket consists of two goods, beef, and pork. Hence, there are 100 quantities of beef…
Q: When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I…
A: The money spent to earn higher income in the future is known as the investment. For the household…
Q: For Robinson, coconuts and berries are complements. He always consumes them with his favorite…
A: An indifference curve refers to a graphical representation of different combinations of two goods…
Q: Why might some firms choose to pay workers a wage above the market equilibrium, even with a surplus…
A: Efficiency wage theory: The efficiency wage theory states that when laborers are paid above the…
Q: he graph shows a price floor (pflr) that at first happens to lie exactly at the equilibrium price…
A: In the free market, equilibrium price and quantity is determined by the forces of demand and supply…
Q: 7. Suppose demand and supply are given by: (LO3, L04) Q = 14 - P₁ and Q = P₁-1 - a. Determine the…
A: Demand and supply are key concepts in economics that explain the interactions between buyers and…
Q: Why the aggregate demand curve slopes downward The graph below shows the aggregate demand (AD) curve…
A: Introduction Aggregate demand is the total demand for final goods and services in an economy at a…
Q: What do Graphs 1 and 2 create by setting a price control? A Graph 1 creates a shortage. Graph 2…
A: Price floor is the minimum price that must be paid to sellers. Price ceiling is the maximum price…
Q: How long would it take for the price level to double if inflation persisted at the following…
A: Inflation refers to the rise in the prices of goods and services in an economy over time. It reduces…
Q: The GDP per capita (labor) in the US is 2.95 times of that in Mexico. Also it is found that the…
A: Following inputs are given in the question: GDP Per Capita (labor) US / = 2.95 GDP…
Q: Present opportunities for the Jollibee brought by globalization
A: Jollibee is the brand of Jollibee Foods Corporation. It is one of the Asian fastest growing chain of…
Q: When equilibrium output in a competitive market is at the socially efficient level: a) only market…
A: A competitive market is a market in which many buyers and sellers trade goods or services at a…
Q: The nominal rate is 1% per month and compounding occurs monthly, what is the effective rate for 12…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Refer to Table 21.6. Personal consumption expenditures in billions of :dollars are Federal purchases…
A: Personal consumption expenditure refers to the total expenditure of households on all finished goods…
Q: A change in demand is caused by a change in and is represented by a O a non-price factor of demand;…
A: In economics, demand refers to the quantity of a good or service that consumers are willing and able…
Q: Part 1: Class, what is an intermediate good? How does an intermediate good differ from a final good?…
A: Disclaimer Since you have asked multiple questions, we will answer the first one for you. If you…
Q: How would scenarios A and B affect the opportunity cost of going to college versus going to work…
A: Introduction Recession and economic booms are two parts of the economic cycle that are experienced…
Q: Good X is produced in a competitive market using input A to the supply of good X in each of the…
A: The supply of a good depicts the quantity supplied at each price, keeping other non-price factors of…
Q: In a simple economy, suppose that all income is either compensation of employees or profits. Suppose…
A: One of the most popular and commonly accepted measures of a nation's wealth is its GDP. There are…
Q: An automobile loan of $29,000 at a nominal rate of 4% compounded monthly for 36 months requires…
A: Financial organisations offer loans for the purchase of capital goods since most often people choose…
Q: If the production function is F(K. L) = K 1/3 L 2 /3 , the wage rate is 5, and the rental rate of…
A: Given information: F(K,L) = K1/3L2/3 Where F(K, L) is a function of K and L. K is capital and L is…
Q: (b) A university lab is a research contractor to MOSTI for in-space fuel cell systems that machines…
A: Given, Electric-powered Gas-Powered Solar-Powered First Cost -4500 -3500 -600 Annual Cost…
Q: Which method would you use to evaluate a new medication based only on the cost? Cost effectiveness…
A: Cost-based analysis: Cost-based analyses are done by the systematical derivation and analysis of net…
Q: 2. Good X is produced in a competitive market using input A. Explain what would happen to the supply…
A: Introduction In a market that is competitive, supply and demand factors balance out to establish a…
Q: Consider the game below. How many best responses does Player 1 have to strategy L of Player 2?…
A: In game theory, the best response is the strategy (or strategies) which produces the most favourable…
Q: Which of the following equations is most likely to represent short-run aggregate supply according to…
A: Total output is the total quantity supplied of the goods and services that are manufactured in an…
Q: Solve All questions are compulsory you will not solve all questions then down thaambe 1. One of the…
A: ***Since the student has posted multiple MCQ questions, hence, the expert is required to solve only…
Q: in the economy of Nocoin the banks have deposits of $400 bilion. Their res bills). There are no…
A: Reserve requirements are central bank registrations that set the minimum amount that a commercial…
Q: You may be tempted to think you’re all set once you have a checking account, but it’s important to…
A: Checking accounts are the accounts that help to use the money whenever required. They are considered…
Q: What are the challenges facing by Ghana? What are constraining effective implementations of Ghana’s…
A: Introduction Ghana is a West African nation that has experienced significant economic growth over…
Q: [aintenance money for a new building at a college is being solicited from potential alumni onors.…
A: Given the annual Maintainance cost of first five years = $48,000 The annual Maintainance cost from…
Q: Why are the World Bank, the International Monetary Fund, and the World Trade Organization so…
A: World Bank: The World Bank is an international financial institution that provides loans and grants…
Q: Suppose a firm is producing 400 units of output, incurring a total cost of $750,000 and total fixed…
A: Introduction Cost in economics is defined as the value of the resources sacrificed or the benefits…
Q: (a) Consider the following game tree, where nature decides where prisoner 2 is a liar (with…
A: In game theory, the "compulsive liar game" is a variation of the classic two-player prisoner's…
Q: Rent (per month) Market rent = $1,500- Rent control = $1,000 100 120 ------ 140 160 180 A Quantity…
A: Price ceiling: A price ceiling is a govt-imposed barrier on the competitive price level of the…
Q: Alain Bertaud uses the example of Paris to explain how regulations can distort land prices. What is…
A: The height restriction in Paris was established in the mid-19th century in response to overcrowding,…
Q: The total cost of producing x items of product A and y items of product B is C(x, y) = 22x 2 + 8y 2…
A: Production costs imply all of the direct and indirect costs businesses face from manufacturing goods…
Q: onsider a system of banking in which the Federal Reserve uses required reserves to control the money…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: A hotdog stand owner decides tolower his price from $4 to $3 and sees an increase in sales from 200…
A: Given: QInitial = 200 QNew = 250 PInitial = $4 PNew = $3
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Mililani business owner Selina runs a small hair salon and does laundry on a regular basis to clean uniforms, hair cloths, client robes, and other washables. Selina is running low on detergent and saw the same-sized boxes of Arm & Hammer laundry detergent on sale at two different stores. Sale price of detergent Regular price of detergent Store Store 1 Store 2 $9.98, limit 4, with additional boxes at regular price Buy two get one free, limit 1 free box, with additional boxes at regular price If Selina only has time to go to one of these stores and needs 3 boxes, whose advice is correct? Select the cost of 3 boxes of Arm & Hammer Laundry detergent at Select $15.99 Selina's friend Kimo said that Store 2 would be cheaper and noted that Store 1's regular price is cheaper than Store 2's regular price. Selina's other friend Lani said that it would be cheaper to go to Store 1, pointing out that Store 2's sale price is still higher than Store 1. Would the situation change if Selina needs 5…(9) What determines the utility an individual receives from consuming a good? Select one: a. The individual’s own preferences. b. The demand and supply curves for that good. c. The producers conducting customer feedback surveys of that good and the feedback provided. (10) Denzel bought headphones two months ago, Solo2 Beats by Dre, for $130. He gives them to his little brother and goes online to buy another for himself but they are now $160. What is the percentage change in the headphone’s price? Select one: a. 23% b. 30% c. 21%1. Explain under what circumstances will a consumer be most likely insensitive to a Product's price?
- Lee has calculated her marginal utility from buying pizza slices and soda (shown on the table in the worksheet) and wants to use these data to decide how to rationally spend the money she has. The price of pizza is $2.00 and the price of soda is $2.00 question 9 (a) given these prices and your worksheet calculations, what is the first product lee will buy? (b) would lee ever buy four slides of pizza? Why/why not? question 10Given the data in your worksheet, how many pizza slices and sodas lee should buy to maximize her total utility if she rationally spends her budget of 10.00? question 11 when the price of pizza changes, lee's MU/$P changes. If the price of pizza decreases to $1.50 and her budget decreases to $7.50, how many pzza slices and sodas lee should buy to maximize her total utility?hey im confused. when i enter this into my calculator 50/(1+0.05) + 50/(1+0.05)2 + 1000/(1+0.05)2 i get a 1000.so shouldnt quantity demanded be 2000?Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100
- 3) Suppose that there are only two types of shoes in the world. Regly tennis shoes, that sell for $30 a pair, and Super Air Swooshes, that sell for $55 a pair. You do not have to give me any numbers, just think about how you might choose to spend your money. Now, suppose Regly tennis shoes increase in price to $50 a pair, what would happen to your demand for Super Air Swooshes? Given your answer, what are the substitution and income effects?Pls help with below homework. Select the correct option and explain it in 5-6 sentences5. need help with this please
- Chloe's Demand Schedule Price ($/gallon) Quantity Demanded (gallons/year) $6 50 5 100 4 150 3 200 2 250 1 300 Chloe's willingness to pay for her 51st gallon of gasoline is....and her willingness to pay for her 301st gallon of gasoline is.... (Enter your response to the nearest penny.) This is an example ofwhich? diminishing marginal benefit decreasing total benefit decreasing demand . If you drew Chloe's demand curve, using the demand schedule above, what would you notice about Chloe's marginal benefit curve and the demand curve? The two curves would be unrelated the same .Which term is used to describe the want satisfying power of a commodity or a service?[A] Demand[B] Want[C] Utility[D] Consumption Please dont use any ai tool. Thank youQUESTION 12 The relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows: Bags of Cookies Marginal Utility 1 2 3 4 5 6 20 16 12 8 4 0 George receives 2 units of utility from the last dollar spent on each of the other goods he consumes. If cookies cost $4 per bag, how many bags of cookies will he consume per month if he maximizes utility?
