QUESTION 9 Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1 Price per Pizza $3 6 9 12 15 Quantity Demanded (Pizzas per Month) 1,200 1,000 800 600 400 Quantity Supplied (Pizzas per Month) 600 700 800 900 1,000 Refer to Table 3.1. If the price per pizza is greater than $15, there would most likely be a(n) quantity demanded of more than 400 units. excess supply of more than 600 units. excess demand of less than 400 units. quantity supplied of less than 1,000 units.
Q: 1) What are the Nash equilibria? Which one is unreasonable/non-credible threat?
A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…
Q: Part 4-Stretch Your Thinking-Read the 1978 Milton Friedman quote regarding Japan was unfairly…
A: Part 4) Globalization today, is defined as the process of tying and connecting the societies of the…
Q: Consider Table 1. What is the total surplus? Describe in words what this means.
A: The consumer surplus is the difference between the maximum price a consumer is willing to pay and…
Q: For a Cournot oligopoly model with n firms facing constant marginal costs c, and market demand P = 1…
A: The equilibrium quantity for each firm in an oligopoly market with n firms facing constant marginal…
Q: Consider the following cost function: \[ C=0.2 q^{3}-4 q^{2}+85 q+100 \] When output is 19 units,…
A: Total cost is the cost of producing all the units of good. Average cost of the cost of production…
Q: Consider the following table. A Big Mac in the US cost USD5.66 in January 2021. Given the cost of…
A: Introduction The PPP exchange rate is a tool used for the comparison of the economic output and the…
Q: A company produces a special new type of TV. The company has fixed costs of $494,000, and it costs…
A: Fixed Cost = 494,000 Variable Cost = 1100 If Price = 2500 then Qty Sell = 700 If Price = 2200 then…
Q: oyment status is given in the following table. d on the criteria used by the Bureau of Labor…
A: Defining Employment and Unemployment The Bureau of Labor Statistics (BLS) sets the criteria for…
Q: Briefly explain how each of the following events would affect the aggregate demand curve a) an…
A: Aggregate demand is the sum of Consumption, Investment, government spending and net export. AD = C…
Q: Briefly explain how each of the following events would affect the aggregate demand curve a) higher…
A: Aggregate demand is a sum of consumption spending, investment, government purchases and net exports.
Q: The demand in a market is given by Q = 10 - 0.1P. Production costs are given by C (Q) = 5Q2 +10Q.…
A: The equilibrium occurs where the demand and supply forces are equal. The monopoly produces where the…
Q: Egypt authorities faced significant health and economic policy challenges during the COVID19…
A: (i) A fall in confidence can lead to a decrease in consumption and investment expenditure. Consumers…
Q: You are required to use the following topic, which will guide your research, in Trinidad: Rising…
A: Introduction:Food prices in Trinidad have been on the rise in recent years, leading to concerns…
Q: Suppose you are considering whether to purchase a house off of Lake Erie for $400,000. You expect…
A: Net income refers to the remaining amount of money after subtracting all expenses from the total…
Q: You work for the Committee for Economic Evaluation in the small nation of Kinsdale. Your current job…
A: GDP is the gross domestic product. GDP is defined as the monetary value of all the goods and…
Q: Identify and briefly discuss the three reasons the aggregate demand curve slopes downward. Are these…
A: The entire quantity of goods and services that all consumers in an economy are willing and able to…
Q: Option A) you receive $10,000 today Option B) you receive $20,000 10 years from today If the…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: 20. Suppose that the market for ice cream is perfectly competitive. All ice cream producers are…
A: 20) The purpose of a company's objective is to make more money. A firm may be thought of as deciding…
Q: Jordan is calculating the worth of a computer by comparing its costs and benefits, including…
A: In economics, costs are the money and non-money spent on goods and services. These expenses include…
Q: 4. Government purchases: Suppose Congress and the president decide to increase government purchases…
A: The inverse relationship between the rate of interest and the level of output is depicted by the IS…
Q: What is a spending plan? Importance of spending plan?
A: Spending refers to the act of using money or other resources to acquire goods or services. It is an…
Q: When you are creating a budget should you use your gross pay or net pay?
A: A personal budget is a financial strategy developed by an individual to control their income and…
Q: Calculate the markup price if MC = $10 and price elasticity equals -2.
A: Mark-up will be computed as difference between the item's selling price and the cost as a percentage…
Q: Airline is a monopolistically competitive market with different name brands such as United Airline,…
A: A monopolistically competitive market has many firms selling products that are similar in nature but…
Q: r each situation below, state whether it is an example of the income effect changing quantity…
A: The income effect reffers to the how increase in income of individual can change the quantity of…
Q: Consider the Economist article: "Wild Horses" April 20th 2011…
A: In order to further global monetary cooperation, exchange stability, and economic progress, the…
Q: The tables below list the market shares held by the major firms in college dining hall and coffee…
A: Concentration ratio is used to determine how market power is concentrated in the hands of few large…
Q: A monopolistically competitive firm can earn positive profit both in the short run and in the long…
A: A monopolistically competitive market has many firms producing competition with each other. Each…
Q: Suppose you have the following information from a closed economy: C = 200 +0.25 YD I = 150 +0.25Y -…
A: The IS relation equilibrium can be computed by holding aggregate income on the left-hand side of the…
Q: Can you write an Introduction on the above
A: The underlying principles and components that guide how an economy functions are known as economic…
Q: How does GNP compare to GDP when: earnings of foreigners and foreign firms in the United States…
A: GDP is the gross domestic product. GNP is the gross national product. GNP is calculated as :- GNP…
Q: Suppose there are two consumers, Az B. The utility functions of each consumer are given by kem xong…
A: Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…
Q: Suppose the demand and supply functions for a product are given by Pd = 200 - 3Qd and Ps = 40 + 2Qs,…
A: Given information: Pd = 200 - 3Qd -------> demand equation. Ps = 40 + 2Qs -------> supply…
Q: Assume that the following data describe the condition of the banking system: Total reserves…
A: Bank lends the excess reserve to the general public. The excess reserve is the total reserve minus…
Q: Please show all workings. = 15000 * (P/A, IKR. 5) + 16384 * (P/F₁IRR₁5) 5000 Actual IRR = 0.211 IRR…
A: MARR (Minimum Acceptable Rate of Return): It is the minimum rate of return that an investor requires…
Q: The previous year had an unemployment rate of 14.1%, nominal GDP of $28.9 trillion, and real GDP of…
A: The unemployment rate is an important indicator of the health of the labor market and the overall…
Q: A television company purchased machinery for P130,000 on July 1, 1979. It is estimated to have a…
A: The Service Output Method of Depreciation is a depreciation method that results in the cost…
Q: If the consumption function is C-800+0.6(Y-T), output, Y.= $2,100 and net taxes, T.-$100, then…
A: Formula- Disposable income= Income- Taxes Consumption spending= 800+0.6*Disposable income…
Q: Describe the structure-conduct-performance paradigm, the feedback critique, and their relation to…
A: Economic performance implies how an economy is prospering. Economists can typically assess it in…
Q: A 1 L (Labor) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 C D Q (Total Product) MP (Marginal Product) AP…
A: Since you have posted multiple questions with multiple sub parts, we will provide the solution only…
Q: A company wants to issue a coupon for a product. The marginal cost of the product is $1. If the…
A: Lerner index states the relationship among profit-maximizing price, marginal cost, and elasticity of…
Q: The following events have occurred at times in the history of the United States 1. The world economy…
A: The aggregate demand is a sum of private investment demand, government expenditure, private…
Q: For a Cournot oligopoly model with n firms facing constant marginal costs c, and market demand P = 1…
A: Collusion is typically defined as an unauthorized covert agreement or coordination among two parties…
Q: Question 1: If required reserve ratio is 20%, what is the amount of initial deposit needed to create…
A: The percentage of deposits that banks must retain in reserve and refrain from lending out is known…
Q: Under the long-run equilibrium, for perfectly competitive markets without any government…
A: Consumer surplus is the area below demand curve and above price. Producer surplus is the area below…
Q: Assume the following data describe the condition of the banking system. What would the following…
A: The required reserve ratio (RRR) refers to the proportion of deposits that banks are legally…
Q: Suppose you pay $25 to enter into a raffle with a $400 prize. If you have a 5% chance of winning,…
A: The expected value is a statistical term that denotes the typical outcome of a chance event after…
Q: using a diagram explain how the flexible exchange rate is determined
A: An exchange rate is the value of one currency in terms of another currency. It is the price at which…
Q: What is the shape of the AFC curve and why does it have this shape?
A: Average fixed cost (AFC) is a per-unit cost that a company incurs in producing its output. It is…
Q: The following graph shows the decreasing value of a car over time. (a) Write a sentence that…
A: Given information: We have a graph which shows the decreasing value of a car over time. In 2 years,…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 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) 100The table below shows the market for AA batteries in Tulsa, Oklahoma, when tornadoes threaten the area. Market for AA Batteries with Tornado Threat Quantity of Quantity of Batteries Batteries Demanded Supplied (packages) 100 80 60 40 20 Price (dollars) $15 13 9 7 5 (packages) 40 50 60 70 80 90 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.PRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate some
- Refer to the figure, Price (dollars) 600 550 500 450 400 350 300 250 200 150 100 50 0 Market for Game Consoles S 10 20 30 40 50 60 70 80 90 100110 Quantity Toola DL 0 O Use the graph to show the area representing the deadweight loss, and then determine the deadweight loss created as a result of setting the price at $150. Instructions: Use the tool provided "DL to illustrate this area on the graph. Deadweight loss: $The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)Question 6 [A new drug called 'LowG', taken together with any food, reduces the glycemic index (a measure of the impact of the food on blood sugar) by 50%. Annual demand for this new medication can be described by the following table:] Quantity (millions of milligrams) 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Price ($) 1000 900 800 700 600 500 400 300 200 100 0 a) [Rache, a pharmaceutical company, holds the patent on LowG and therefore is the only legal producer of the drug for the next 15 years. Calculate total revenue (TR) and marginal revenue (MR) for Rache at each price. Both Total Revenue (TR) and Marginal Revenue (MR) correctly calculated.
- img' (a If po increases, what happens to the demand and supply of public transportation (shifts left/shifts right/doesn’t change) What happens to the equilibrium quantity and price for public transportation? (increase/decrease) (b)At a given price p, as oil becomes more expensive (po increases), does the (own) price elasticity of demand for public transportation increase / decrease / stay the same? (c) Calculate the cross-price elasticity of public transportation demand with respect to the oil price po, at the point p = 1 and po = 2. Are the two goods (public transportation and oil) substitutes or complements, or unrelated?an Layout References Mailings Review View Help CA ..A following questions. Quantity Demanded (bushels) 40,000 Price per bushel (in $) Quantity Supplied (bushels) 2 4 36,000 4,000 6. 30,000 24,000 8,000 16,000 10 20,000 20,000 28,000 36,000 40,000 12 18,000 14 12,000 16 6,000 a) What are the equilibrium price and quantity of wheat? Answer: the equilibrium price is $10, and quantity of wheat is $2000 bushels. b) Suppose the prevailing price is US$12 per bushel. Is there a shortage or a surplus in the market? Answer: c) What is the quantity of the shortage or surplus? Answer: d) How many bushels will be sold if the market price is US$4 per bushel? Answer: ited States) B Focus REDMI NOTE 9 AI QUAD CAMERA 1446. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Chicago. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 120 110 Total Revenue 100 90 80 70 60 40 A 30 20 10 Demand 16 24 32 40 48 56 64 72 80 88 96 QUANTITY (Bikes) PRICE (Dollars per bike) 50
- DODODO DDO 41% 7:45 PM MSA assignme.. Q Assigument 2 1. The graph below shows the demand curve of two goods by an individual, use the information in the graph to answer the questions that follows; Price GH¢30.00 GHe 25.00 D 0. 2000 2500 3000 Quantity (gallons per day) (a) Calculate the price elasticity of demand for the demand curve, Di. from point A to point C, and the price elasticity of demand for D2 from point A to point B. which demand curve is more elastic, Di or D2? Briefly explain your answer. (b) Given the expenditure function as e(p.q)=pq where p is the price and q is quantity demand. Suppose the individual was purchasing 2000 gallons per day at a price of GHe 30.00 per gallon and the price is cut to GHe25.00 per gallon. calculate tihe change in total expenditure if the demand curve of thc individual is Di? What will be the change in total expenditure if demand is D2? 2. Discuss any four factors that would cause an increase in demand of petroleum engineering program in…10) Refer to the graph shown that depicts a third-party payer market for prescription drugs. If the co-payment is $2 per pill, what will be the total market expenditures on prescription drugs? Price $8 4 2 A) $30 ⒸB) 590 C) 5270 D) $540 15 30 Supply 45 Demand 60 QuantityThe graph below shows the demand for electricity in England during typical days in winter and summer. The pie chart shows how electricity is used in an average English home. Summarise the information by selecting and reporting the main features and make comparisons where relevant. Figure 1 Typical Daily Demand of Electricity 50000 40000 30000 Winter Summer 20000 10000 o hrs 3 6. 12 15 18 21 24 Different hours of a day Figure 2 What the electricity is used for I Heating room, Heating 15% water 15% 1Ovens, Kett les, Washing 52% Machines 18% ILighting, TV, Radio Vacuum cle ane rs, Food m ixers, Electric too ls Units of Eectricity