What is a resource?     the result of choices made by business firms     the result of scarcity in the economic system     anything people use to make or obtain what they need or want     a physical object that can be purchased

Q: Annie runs a fitness center. On December 31, 2021, she bought an existing business with exercise…

A: Gross investment is defined as a company's total expenditure or investment in acquiring…

Q: Consider a monopoly facing a demand defined by P = 10 - 4Q^dP=10-4Qd. Suppose that AVCAVC is…

A: A monopolist will produce where MR = MC  MR is the marginal revenue and is defined as the change in…

Q: Suppose the inverse demand function is P = a −bQ, where a is the market price when Q=0 and b is the…

A: Given information Inverse demand function P=a-bQ Cost function C=CiQi Q=q1+q2

Q: discuss the characteristics of monoply market and give examples

A: Monopoly refers to a market structure with only one seller that is responsible for the entire market…

Q: Suppose that the Fed Reserve conducts sterilized foreign exchange intervention of purchasing $500…

A: Sterilized intervention is when a central bank buys or sells foreign currency without affecting the…

Q: What is meant by externalities in economics.    Explain in detail.

A: An externality basically refers to a cost or benefit of an economic action that is experienced by a…

Q: How might possibilities for regulatory capture contribute to the large number of financial…

A: Regulatory capture is a situation in which the authorities, agencies, or officers who are appointed…

Q: If there are externalities leading to underproduction of a given good, command and control methods…

A: Introduction: Externalities: Costs or benefits that a producer creates but does not directly benefit…

Q: Let there be two goods and suppose John has preferences over R20 which can be represented by the…

A: Given utility function U=min{X1,2X2} The given utility function represents the Leontief utility…

Q: Direction: Write T if the statement is correct, and F if the statement is incorrect. _____ 4. As a…

A: Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Government borrowing will not increase spending if a. the money is invested in new capital. b. the…

A: According to the Ricardian equivalence theory debt-financed government spending does not lead to an…

Q: Determine whether the examples below represent non-rival or non-excludable products: A.…

A: The Non-Excludable feature implies that those who do not pay for the good, can not be debarred from…

Q: Draw a demand, marginal revenue and marginal cost curve for a monopoly firm. Be sure to label axes…

A: Monopoly usually refers to a market situation in which there is only a single seller/firm that deals…

Q: In a repeated decision for which the present value of the benefits of cheating are greater than the…

A: Sequential Decision-Making: Sequential decision-making is a procedure of analyzing the problem and…

Q: please computation for the following production function

A: The Law of Diminishing Marginal returns states that in the short run, as more and more variable…

Q: What factors determine exchange rates? Use relevant examples and charts to support your answer

A: Exchange rates are one of the major indicators of a nation's economic health that are closely…

Q: 12. Which of the following statements is correct? a. An increases in the level of autonomous…

A:

Q: When the federal government engages in COVID-19 fiscal stimulus such as the Coronavirus Aid, Relief,…

A: The federal government engages in COVID-19 fiscal stimulus such as the Coronavirus Aid, Relief, and…

Q: The table below shows cost data for producing different amounts of oil. The market for oil produces…

A: The output level mirrors every one of the costs and benefits related to a transaction for example…

Q: Direction: Complete the table. Enumerate accordingly the 7 goals of Laudato Si' Enumerate…

A: Laudato Si' is the encyclical of the Pope francis. In this the pope criticizes about the…

Q: Your enterprising uncle opens a sandwich shop that employs 6 people. The employees are paid $12 per…

A: Marginal product of labor is the change in Total product due to an additional labor hired.  Marginal…

Q: explaining the strategic view of bargaining. Present a numerical example and discuss how each player…

A: In bargaining game we set up a game between two players - Buyer & Seller . In this game seller…

Q: What is the relative importance of consumption spending (C) in aggreagte demand and some factors…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you. If…

Q: In the following market model, P is price in time t, S and D are supply and demand functions. Assume…

A: Given information Supply function : S(Pt-1)=αPt-1Demand function: D(Pt)=1-bPt

Q: In 20 years, P1,000,000 is acquired from an investment paying 12% compounded continuously, how much…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Mary O’Leary’s company ships fine wool garments from County Cork, Ireland. Five years ago she…

A: EUAC refers to the equivalent uniform annual cost. It is the annual cost incurred by the owner of…

Q: QUESTION 22 On a graph, the area below a demand curve and above the price measures O a producer…

A: A demand curve shows quantities of a commodity that consumers are willing and able to purchase over…

Q: Refer to the following payoff table: Firm A's Advertising Budget Low Medium High A D G Low $900,…

A: Game theory is the study of interactive decision-making in which the outcome for each participant or…

Q: 3. A firm has three factories each producing the same item. Let x, y, and z denote the respective…

A: The mathematical link between the expense spent during production of a good and the quantity of that…

Q: Define the term comparative advantage in the context of economics.   Please explain in a well…

A: Comparative advantage is the capacity of an economy to produce a particular item or service at a…

Q: An asset that was purchased for $10000 is expected to be responsive to inflation. The revenue in the…

A: Given: Asset purchased for $10000 Initial year revenue = 4000 expected rise in revenue next 3 years…

Q: Using the graph below, shade in the appropriate part of your graph that represents the total…

A: External cost is the cost that is not included in the price and is born by the third party. Given…

Q: Problem: Imagine you have two competing athletes who have the option to use an illegal and dangerous…

A: Game theory is the study of how economic actors' interdependent actions lead to results that are…

Q: Jeremiah took consulting work for the local jewelry business to help the owner understand their…

A: The term "expected value" refers to the value that is anticipated to be achieved on average by an…

Q: Which of the following is least likely to be a cause of the fluctuation of exchange rates?…

A: Exchange rate represents the price of a currency in terms of another currency. The value of exchange…

Q: economics, what is an example of monitoring?

A: Economics is the study of human behavior for their purchase and sale decisions that are based on…

Q: Which one of the following pairs of companies is operating in an oligopoly market? O a. Pepsi and…

A: When there are only a few businesses selling products that may be identical or different, the market…

Q: A price-taking firm's variable cost function is VC = 20³, where Q is its output per week. It has a…

A: A variable cost is a corporate expense that changes with respect to how much an organization…

Q: Briefly explain why the principle that the majority of voters should decide an election outcome may…

A: According to the concept of majority rule, the group with the most members has the authority to make…

Q: Refer to Table 10.1. The required reserve ratio is 10%. If the First Charter Bank is meeting its…

A: Reserve are the part of deposit that is kept out of deposit by the bank.  Reserve is calculated as…

Q: The following information is relevant for an individual firm operating in a perfectly competitive…

A: A firm will shut down in short run if it is not able to cover it's variable cost.  It will shut down…

Q: Assume that rational expectations exist and the economy is operating at potential GDP. If th Fed…

A: The theory of rational expectations refers to the theory suggesting that individuals in an economy…

Q: You have 1 account:   The balance owed is $405 and a $1500 credit limit.   What is your…

A: The debt-to-credit ratio is estimated as a percentage of total available revolving credit which an…

Q: Use the table below to answer question. The table shows the demand schedule for tickets to watch…

A: A perfect competition is by far the most competitive business possible, with no monopolies,…

Q: Suppose you work for a specialty food store. The owners are considering providing an e-commerce…

A: I would start by analyzing the situation to assess the strengths and weaknesses of such a goal as…

Q: Differentiate geographical pricing from psychological pricing.

A: Pricing is the process of determining a manufacturer's worth in exchange for their goods and…

Q: 10. Which of the following statements is true? a. A decline in the general price level will result…

A: 10. In economics, LM curve refers to the curve that shows the condition of money market. LM curve is…

Q: Explain the FED role to cope with rising inflation.

A: The Federal Reserve System, also known as FED, is the abbreviation for the American nation's central…

Q: Twin deficits refer to the combination of government budget deficit and trade deficit.  The…

A: The budget is a document prepared by the government that includes a list of all the revenue streams…

Q: We try to predict the unemployment (unem) with an AR(1) model and VAR(1) (unemployment and…

A: Unemployment refers to a situation and in general is a social-evil for every economy. It implies the…