The prices of inputs x1; x2; x3; x4 are p1 = 2; p2 = 2; p3 = 5; and p4 = 2. If the production function is given by f(x1, x2, x3, x4) = min{x1, x2} + min{x3, x4}, what is the minimum cost of producing one unit of output?

Q: 23.what would the equilibrium be if the Soviet Union moved first? Group of answer choices (a) Both t...

A: We can find out the equilibrium using the background induction.  

Q: American Girl doll has an inverse demand curve of P- 150 0.25Q, where Q measures the quantity of dol...

A: The firm will maximise profit at a point where marginal revenue is equal to marginal cost. Toh surpl...

Q: 3. A perfectly competitive individual firm operates in a constant cost industry and produces a level...

A: This is a perfectly competitive individual firm where by the quantity produced by the firm is as per...

Q: Country Y Price Odd Osd $ 9.00 250 450 8.00 300 400 7.00 350 350 6.00 400 300 5.00 450 250 The accom...

A: Whether a country imports or exports depends on difference between quantity demanded and quantity su...

Q: 19.5 (0) A profit-maximizing firm produces one output, y, and uses one input, r, to produce it. The ...

A: Given:

Q: Using the data In the table below related to nominal GDP, real GDP, and total population, answer the...

A: From the tabular data, Year Nominal GDP (in millions) Real GDP (in million) Population (in millio...

Q: What I have Learn Answer the following question on a different answer sheet. 1. Why data is importan...

A: 1. Importance of data in statistics The study of learning from data is referred to as statistics. St...

Q: We have seen that monetizing the benefits of environmental improvements is difficult. Consequently, ...

A: Environmental policy is the commitment of an organization to the laws, regulations, and other policy...

Q: A bank agrees a repurchase agreement (Repo) with its prime broker using £30 million of Mortgage Back...

A: A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of sho...

Q: Using the graph of a production possibilities frontier (PPF) below, please answer the questions that...

A: The production possibility frontier (PPF) is a business analysis curve that represents the conceivab...

Q: [ECO If the interest rate is 8% households and firms will want to borrow: a) £3 billion b) £2 billio...

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

Q: Given four proposals for funding a new project with a 100M limit on capital funding and the MARR is ...

A: ANSWER   Internal rate of return is the rate at which the net benefits are equal to the net Costs. I...

Q: A mobile provider has two types of deals. Currently the provider has 1 million customers, 65% of tho...

A:

Q: Consider an economy that produces only two goods: Food and Clothing. The use of the resources of thi...

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for...

Q: QUESTION: What is the difference between price inelastic and price elastic

A:   Meaning of Microeconomics: The term macroeconomics refers to that situation under which the econom...

Q: In this figure, what is the expected utility given a 0.25 chance of being sick? U (1) E[UMo.25 E[UM)...

A: The satisfaction that is being derived by the consumer from the consumption of a good or service is ...

Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 8 - E. If...

A: Given that, Initial MAC =8-ENew MAC =4 - 0.5EInitial tax =$1New tax =$2

Q: Problem 5 Refer to problem 4. A new minimum wage of $20 has been enforced. What is the surplus?

A: Surplus: When supply exceeds demand Labour supplied at the new wage $20 is: Qs=1000+20*(20) Qs=1400 ...

Q: Discuss wether the sale of state owned enterprises will benefit an economy. Must use examples

A: It is known that in a communist type of government, it is seen that there is complete control of gov...

Q: Discuss how useful the price mechanism is in tackling the basic economic problem? Must use various e...

A: Price mechanism basically refers to an mechanism in which the demand and supply are basically respon...

Q: Imagine the following case study where two different countries: Albania and Belize have remained sel...

A: The opportunity cost of corn in terms of beets is the units of beets that could have been produced w...

Q: Rita's designer bag is worth P 2 million. If inflation is at rate of 5%, what will be the cost of th...

A: Present value of the bag is 2 million and we need to final its value after 2 years 

Q: g) Who should export or import corn and beets? Given that both economies have now agreed to trade, c...

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity cos...

Q: Suppose we have the following information and sequence of events for the coffee market in Ethiopia: ...

A: Here, it is given that the initial equilibrium in the market is at price equals to 20 and quantity e...

Q: 16 Eradication of a disease with a vaccine subsidy. A terrible disease called fictitia is ravaging t...

A: Dear student as you have posted multiple sub-parts in a question but according to the policies and g...

Q: A deposit of P1500 is made into a fund on March 18. The fund earns simple interest at 5%. On August ...

A: Firstly, determining the number of days between March 18 and August 5 = 217 − 77 = 140 And the numbe...

Q: 1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00 0.10- MC...

A: Consumer surplus refers to the area above the price and below the demand curve while supply curve re...

Q: Suppose an individual in the Grossman model is trying to decide what to have for dinner. His options...

A: 1) The given Utillity function is: U = 3Z+H The utility for every meal For Steak and eggs U = 3(7) -...

Q: The degree of inequality in the distribution of income in an economy is depicted in aln O Lorenz cur...

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages, education...

Q: When a firm experiences increasing returns to scale a. its AFC will decrease. b. its AFC will incre...

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process. Ave...

Q: The table below provides price and output information for Angela’s weekly demand curve for cheesebur...

A:

Q: A new medication for high cholesterol costs $3,500 per year whereas the older medication costs $500 ...

A: Martha has osteoarthritis. Which of the following activities should she avoid?SwimmingWalkingJogging...

Q: Mention at least 4 questions that help us to start planning a project and why do you think they are ...

A: To start a project (say a production unit), a person needs to consider the following questions: 1) W...

Q: Sam invested a total of $100,000 into a project, and his total profits to date sum up to $120,000. W...

A: Given information: Investment amount = $100000 Total profit = $120000  

Q: How much is accumulated for a savings plan with a deposit P1, 900 today at 13% compounded quarterly ...

A: Given: Deposit=P=$900 Rate of interest=i=13% Time=t=2 years Compounded in a year=n=Quarterly

Q: On January 1st, the number of unemployed was 17 million and unemployment rate was 4.95%. The informa...

A: Answer: Given, Unemployed population (on 1st January) = 17 million Unemployment rate = 4.95% 4.95%=1...

Q: 1. Discuss the following theories of capital structure. (i). Trade-off theory (ii). Pecking order th...

A: Structure of Capital The capital structure decision is made up of a mix of debt and equity, and it i...

Q: j) Assume that 1000 cars are going from point A to B in the following traffic network. What is the N...

A: Nash Equilibrium is a game theory concept that identifies the best solution in a non-cooperative gam...

Q: Which of the following is an example of an implicit cost? Group of answer choices A)Federal taxes ...

A: Implicit cost is such a cost that shows factor cost owned by entrepreneur himself and also known as ...

Q: A. Each week, Adriel buys cheese (C) and sausage (S) which provides him a utility of U= 5th root of ...

A:

Q: The first two columns in the following table give a firm's short-run production function when the on...

A: Given:- Price of capital=$2000 Price of labor=$500 Capital constant at 5 units  

Q: Discuss the view that the best way to achieve greater equity in the distribution of income in a coun...

A: The concept that depicts that every income group in a nation would be having similar and a less diff...

Q: 2. If the production function is given by Y-A(K¿L)°.5 where Y is the output, A is the technology, L ...

A: Understanding the Solow growth model is crucial. A growth model aids in forecasting the state of eco...

Q: There are three factors of production, capital, K, skilled labour L; and unskilled labour Ly. Which ...

A:  a production function gives the technological relation between quantities of physical inputs and qu...

Q: 4) Luke is planning an around-the-world trip on which he plans to spend $10,000. The utility from th...

A: Introduction Luke wants to spend $ 10,000 money of his trip. Total utility of the trip = U ( 10,000)...

Q: Which of the following does NOT influence growth of labor productivity? discovery of new technologie...

A: Labor productivity refers to the productivity or total output produced by the labor employed.  Labor...

Q: The availability of alternative entertainment methods has resulted in a large decrease in theme-park...

A: The demand for the theme park is moderately elastic in nature as a result of the accessibility of el...

Q: Two independent ice cream vendors own stands at either end of a 1 mile long beach. Everyday there ar...

A: Introduction Two vendors are on a beach. They sell ice cream of price $6 each. Total 100 people come...

Q: he figure below shows a consumer maximizing utility at two different prices (the left panel) and the...

A: We know that the effect of price change is decomposed in substitution effect and income effect.