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  • Microeconomics Questions

    Therefore, a product with high total revenue is less elastic than the products with less or low total revenue. Bottled water is elastic since there exists alternative or substitute to bottled water like un-bottled water which might be cheaper. Toothpaste is also very elastic since there exists very many brands of toothpaste and some people may go without using toothpaste so they consider it not so necessary. The cookie dough ice cream has inelastic demand for changes in price leads to a small change in quantity demanded. This is because the product is not a necessity. Fresh green beans have an elastic demand for it is a perishable good, a…

  • To What Extent Is Business Model Innovation Relevant for Achieving Success in ECommerce from a MicroEconomic Framework

    The position of IBM was emphasised as well as other authors, but the most relevant position came from Vadim Kotelnikov, who gives a satisfactory explanation about the complexity of the new market conditions driven by technological innovation as much as business model innovations.AGLOCO (2007) stands for A GLOBAL COMMUNITY. It is a new online startup that it is promising to every member to Own The Internet as a slogan that hides within it the universal ideal of leveraging the power of the Internet in our lives. It could be in a direct way, or in an indirect one. It is a hidden desire of all cybernauts to own the Internet.…

  • Differences between macro and micro

    Micro vs Macro The basic difference between micro and macro is that micro is on a very small level and can be identified or observed while on the other hand macro is on a large level and cannot be easily identified or observed.There are several micro and macro systems which have their own explanations, definitions and differences. Some of these systems are as follows.a) Macro and micro economic.b) Macro and micro analysisc) Macro and micro evolutionsd) Macro and micro climatese) Macro and micro influences. There are many others in the list as well, but almost every one of these areas or fields have some basic resemblance while referencing to macro…

  • Multiple choice question and 3 short answered question

    Section Multiple choice questions (15 marks The economic behavior of individual decision makers and the determination of price and output in specific markets are both studied in a) microeconomics 2. All economic questions arise from b) scarcity 3. Because the resources are scarce, we must give up some of one good in order to acquire more of another. This is the concept of : a) opportunity costs 4. The demand curve for video players shifts to the right. This could be caused by: b) an increase in the price of DVDs 5. The demand curve for motor vehicles will shift to the right if: c) advertising expenditure on motor vehicles…

  • Unique Properties of Money

    Unique Properties of MoneyIdeal money has to possess some unique properties that make it used as a medium of exchange, unit of account and store of value. This means that it has to be portable, divisible, durable, of uniform quality, relatively stable in its value and has to have a low opportunity cost. Money, as depicted in its history is not always in the form of notes and coins. Money can be defined as an object that is acceptable as payment in exchange for goods and services (Bade amp. Michael, 2002). For example, in the absence of official currency, in prisons, cigarettes served the role of money. Pouches of mackerel…

  • Some Issues on the Macro and Microeconomics

    Brainstorming is a technique which involves individuals coming up together and trying to generate ideas through a session of discussion and every individual is free to express their ideas on the topic of discussion without any judgment. This though involves several techniques of brainstorming that makes the process effective in problem-solving. One of the techniques is to start the process with individual ideas. Every individual should first put down their own ideas individually. After the first step, everyone should then bring up their ideas. Judgments should be withheld and no one’s ideas should be criticized. This then should ensure that everyone is heard. The group should then go radical and…

  • Number

    Units of of workers Micro Module 2 Homework.pdf x+Xlt; -gt; C @ File | fs1/users/bianca.dahlinger/Desktop/Micro%20Module%202%20Homework.pdfMicro Module 2 Homework.pdf8 / 15Page 8#1#2#3#5#4Average costs ($)0XOutput28). As the firm in the above graph expands from plant size #1 to plant size #3, it experiences:A) diminishing returns. B) economies of scale. C) diseconomies of scale. D) constant costs.+Microeconomics

  • Confused About

    The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $10. Sales revenue is$20 per unit. Fill in the table as much as is useful. Calculate profits and answer the followingquestions 1-7TotalAverageAverageVariableFixedTotalvariabletotalmarginalQuantitycostcostcostcostcostcost0101102283454701. What is the total cost for an output of 4 units?a) 0b)14c)60d)80e) none of the above2. What is the Average variable cost for an output of 2 units?a) 0b) 14c)60d)80e) none of the above3. What is the profit for an output of 1 units?a) -10b) -5C) 0d) 5e) 104. What is WipeOut’s profit maximizing output in the short run?a) 0b) 1C) 2d) 3e) 4A new competitor entered the market using a better production method that allows them…

  • 3 Suppose A Monopolist Faces A Demand Curve P = 40 Q

    The monopolist’s Total Cost function is given by TC =To maximize becofit , A monopolist set price and quantity whereMarginal revenue equals to Marginal costgiven MC = 4+ 2 Qand demand curve = P = 40 – QSo, find me that is first derivative of…Microeconomics

  • Hello There Kindly Find A Screen Shot Of A Question For Microeconomics Concerning International Trade Supply And

    2) The North American Free Trade Agreement (NAFTA), signed in 1994, reduced tradebarriers between the United States, Canada, and Mexico. During the 2016 presidentialcampaign, several prominent candidates from both parties denounced NAFTA as havinghad a negative impact on jobs in the United States. In particular, they cited the impact onmanufacturing jobs.a. In what ways might free trade agreements have a negative impact on jobs in theUS? Briefly explain. Is it possible that free trade agreements could have apositive impact on jobs in the US? Briefly explain. (2 points) b. Income inequality has increased in the United States over the past severaldecades. What role might increased international trade have on this…

  • Hello I Was Just Wondering About How The Cost Of Labour And Capital In The Following Question Factor Into

    The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.Labour per periodTotal output per period00103090132150TABLE 7-35) Refer to Table 7-3. The average total cost when producing 150 units of output is approximately5)A) 40 cents.B) 67 cents.C) $1.50.D) 80 cents.E) 33 cents.Microeconomics

  • In A Market Based Economy What Is The Role Of Prices Transmitters/Signals? How Do Prices Guide Economic Decisions

    Question In a market based economy what is the role of prices transmitters/signals? How do prices guide economic decisions and allocated scarce resources? Explain the role prices play in balancing supply and demand for goods and services. Provide commentary and graphical analysis. Does the concept of opportunity cost play a role in the determination of prices? Microeconomics

  • Use The Graph Below To Answer The Following Questions A)

    At 200 units of the activity, Question Use the graph below to answer the following questions: a) At 200 units of the activity, marginal benefit is $__________ and marginal cost is $__________. b) Adding the 200th unit of the activity causes net benefit to __________ (increase, decrease) by $__________. c) At 700 units of the activity, marginal benefit is $__________ and marginal cost is $__________. d) Subtracting the 700th unit of the activity causes net benefit to __________ (increase, decrease) by $__________. e) The optimal level of the activity is __________units. At the optimal level of the activity, marginal benefit is $__________ and marginal cost is $__________. Microeconomics

  • 4 You Just Purchased An Existing Business That Produces Solar Panels According To The Following Production

    Question 4. You just purchased an existing business that produces solar panels according to the following production function: Q=K0.5L0.5. The business currently has 25 units of capital, which cost $1 each, and no workers. Your first order of business is to hire workers and begin production. Workers can be hired for $1 each. The market price for the panels that you produce just fell to $100. How much profit, if any, will you make if you produce solar panels given the existing capacity (short run)? Microeconomics

  • Cocacola Has Been Focusing On Selling More 7 5ounce (222 Ml) Cans In Displays Near Supermarket Checkout Lines

    Question Coca-Cola has been focusing on selling more 7.5-ounce (222 ml) cans in displays near supermarket checkout lines. Previously, Coke had relied more heavily on 20-ounce (592 ml) bottles displayed in the beverage sections of supermarkets. An article in the Wall Street Journal noted that, The smaller 7.5 ounce mini-cans are typically priced at five to seven cents an ounce, compared with three or four cents an ounce for 12-ounce cans. It quoted a Coca-Cola executive as arguing that consumers don’t care about the price. They will pick it up if you put Coke within arm’s reach. Microeconomics

  • Ease Answer Questions

    2a through2f. Please show your calculations and your work. Consider the following table Question ease answer questions 2 a through 2f. Please show your calculations and your work. Consider the following table below. Joe and Catherineproduce any of the following combinations of cookies and pies. Joe Catherine Cookies Pies Cookies Pies 0 30 0 20 10 24 10 16 20 18 20 12 30 12 30 8 40 6 40 4 50 0 50 0 2a. What is the opportunity cost to Joe forproducing one pie? 2b. What is the opportunity cost to Joe for producing one cookie? 2c. What is the opportunity cost to Catherine for producing one pie?…

  • If A Firm Is Willing To Supply The 1 000th Unit Of A Good At A Price Of $23 Or More We Know That $23 Is

    Question If a firm is willing to supply the 1,000th unit of a good at a price of $23 or more, we know that $23 is the Group of answer choices only price for which the seller is willing to sell this unit of the good. highest price the seller hopes to realize for this output. minimum price the seller must receive to produce this unit. price that sets the marginal benefit equal to the price. average price of all the prices the seller could charge. Microeconomics

  • When A Firm Discovers A New Pharmaceutical Drug It Will Have A Patent What Will Happen To The Price Of The Drug

    Question When a firm discovers a new pharmaceutical drug, it will have a patent. What will happen to the price of the drug when the patent runs out, and why? Select one: a. Decreases, as the market becomes more competitive, the price falls to equal marginal cost. b. Decreases, because the demand for the drug decreases as people have now mostly been cured. c. Remains the same, because the patients get the same drug. d. Increases, because the demand for the drug increases. Microeconomics

  • Where Are The Inflection Points On The Production Curves (Marginal Product Of Labor Curve And Average Product Of

    Question Where are the inflection points on the production curves (marginal product of labor curve and average product of labor curve) and cost curves (marginal cost curve and average variable cost curve) of a firm in the short run? I understand that there is an inflection point on the total product of labor curve (TPL) which corresponds to the maximum point of the marginal product of labor curve (MPL) but not for other curves. Microeconomics

  • For The Question Below I Don’T Understand Why Clause 3 Is True When The Firm Is Producing Its Last Unit

    Question For the question below, I don’t understand why clause 3 is true. When the firm is producing its last unit, shouldn’t the marginal cost still vary since the two curves have different slopes? For the following question, use the graph below.Price12i- – – -.– – – -i- – – – – –-i- –Firm A11– – – – – — —10Firm B2004006008001000 1200 Quantity(/16) The individual supply curves for Firm A and Firm B are shown in the above graph. If themarket price for the good is $5 per unit, which of the following would be TRUE?Collectively, these two firms would produce 1,400 units.Firm B will receive a greater amount…

  • A Pet Shop Operates In A Perfectly Competitive Industry The Firm Is Currently Producing At A Point Where Market

    Question A Pet shop operates in a perfectly competitive industry. The firm is currently producing at a point where market price equals its marginal cost. The Pet Shop’s total revenue is currently below total variable cost. You should advise this firm to Select one: a. Raise its price until it breaks even. b. Produce in the short run to minimize its loss, but exit the industry in the long run. c. Cease production immediately since it is incurring a loss and does not cover daily costs. d. Lower its price so that it can sell more units of output. Which one is this? Microeconomics

  • In The Short Run Monopoly Profits Select One A

    may be positive, negative, or zero. b.are Question In the short run, monopoly profits: Select one: a. may be positive, negative, or zero. b. are positive if the monopolist’s elasticity of demand is less than 1. c. are positive if the monopolist’s selling price is above average variable cost. d. are positive because of the monopolist’s market power. Microeconomics

  • Hello There I Have A Really Important Assignment And I Am Struggling With Questions Number 1 5 6 And 7 I Really

    Question Hello there, I have a really important assignment and I am struggling with questions number 1,5,6, and 7. I really need help with this, and I would really appreciate if someone can give me the explanations/full answers too, to be able to learn it. QUESTION 1An import quota isO a limit on the quantity of foreign goods that can be sold in a nation’s domestic market.Orevenue producing for state governments but not the federal government.O deflationary.Oa tax on imported goods.Microeconomics

  • Natural Monopolyselect One A

    emerges when average total cost is minimized if only one firm Question Natural monopoly Select one: a. emerges when average total cost is minimized if only one firm produces the good b. is inefficient since it total costs are not minimized c. does not compete with small competitive producers of the same good d. is a monopoly in the market for natural resources Microeconomics

  • Are You Able To Explain How This Answer Is Solved And How Graphs Are Made For This Question? Assume A Firm

    Question Are you able to explain how this answer is solved and how graphs are made for this question? Assume a firm in a monopolistically competitive industry is currently making a short run positive economic profit. Describe what is likely to happen to this firm’s profit in the long run. What role does elasticity play in this story? Think of a few examples of monopolistically competitive industries (try to be creative and not just use the ones discussed in lectures). When doing so, think about the characteristics of this model (number of firms, product differentiation, barriers to entry, advertising). MONOPOLISTIC COMPETITIONLONG – RUN EQULIBRIUMPrince I castMcATC-gt; ( MR = me…

  • The Company That You May Need To Have Invested $5 Million In Developing A New Product But The Development In A

    Question The company that you may need to have invested $5 million in developing a new product but the development in a quick finished at a recent meeting is it people report that the introduction of expected sales of the new product to $3 million if it would cost $1 million to finish development and if you go ahead and do so ?what is your most that you should pay to complete development? Microeconomics

  • Cutting Edge Pharmaceuticals Pty Ltd (A Monopoly Firm) Has The Following Demand (Average Revenue)

    Question Cutting Edge Pharmaceuticals Pty Ltd (a monopoly firm) has the following demand (average revenue) function: AR = 100 – Q The marginal cost of production is given as constant and equal to $10. a) What is the equation for the MR function? In showing this equation for the MR function explain the relationship between average revenue and marginal revenue. Determine the profit maximizing level of output of the firm (1 mark) b) What is the equilibrium monopoly price set by the firm and what will be the monopoly profit earned? (1 mark) c) Illustrate the market demand and marginal cost, average cost of this firm as well as, profit…

  • Explain Why In Each Answer 1 Suppose A Firm’S Profit Is Given By

    Question Explain why in each answer. 1. Suppose a firm’s profit is given by the equation p = -200 + 80Q – .2Q2. Which of the following is true? a) The firm’s marginal profit is given by the equation: Mp = 80 – .2Q. b) The firm’s profit-maximizing output is Q = 400. c) The firm’s profit-maximizing output is Q = 200. d) The firm’s marginal profit is given by the equation: Mp = 80 – 2Q. e) The firm’s profit-maximizing output is Q = 800. 2. A firm’s total cost function is given by: C = 1,000 + 15Q. At an output of 200 units, a) Total cost is…

  • Which One Is True For Evil Corp That Produced 100 Million Units Of Its Product At An Average Cost Of $6 Last

    Question Which one is true for Evil Corp. that produced 100 million units of its product at an average cost of $6 last year, and in this year it expanded its plant capacity and produced 200 million units at an average cost of $7, that it is experiencing: pick one: a. increasing marginal product b. dis-economies of scale c. neither economies of scale or dis-economies of scale d. economies of scale Microeconomics

  • Almia And Adjikistan Are Two Open Economies Producing Goods A And B Many People In​ Almia Including The

    Question Almia and Adjikistan are two open economies producing goods A and B. Many people in​ Almia, including the leading​ economists, are lobbying for trade. They feel that the country has a comparative advantage in good A that could be traded with good B from Adjikistan. The government of Adjikistan is also under pressure from various groups to encourage trade with Almia.​ However, when both countries begin to​ trade, gains from exporting good A to Adjikistan turn out to be much lower than what​ Almia’s economists had anticipated. Which of the​ following, if​ true, would explain this​ outcome? A. With the introduction of​ trade, Adjikistan now has access to​ Almia’s…

  • There Are Six Potential Consumers Of Computer Games Each Is Willing To Buy Only One Game Consumer 1 Is Willing To

    Question There are six potential consumers of computer games,each is willing to buy only one game. Consumer 1 is willing to pay $40 for a game, consumer 2 is willing to pay $35,consumer 3 is willing to pay $30,consumer 4 is willing to pay $25,consumer 5 is willing to pay $20,and consumer 6 is willing to pay 15. a)Suppose the market price is $30.What is the total consumer surplus. Microeconomics

  • Question One Consider The Market For Snowmobiles In Wisconsin There Are Two Major Producers Avalanche And

    Question Question One Consider the market for snowmobiles in Wisconsin. There are two major producers, Avalanche and IceRunner. The demand for snowmobiles is characterized by the following equation: P = 3400 – A – I, where A represents the number of snowmobiles Avalanche produces and I represents the number of snowmobiles IceRunner produces in a year. The two companies have the same cost structures. Each have a marginal cost that is equal to average cost equal to 400 for every level of output. Make sure to explain clearly how you are solving the problem and show your work. a. This is a Cournot situation where Avalanche and IceRunner choose output…

  • Suppose Canada Produces Only Cars And Trucks The Resources That Are Used In The Production Of These Two Goods Are

    Question Suppose Canada produces only cars and trucks. The resources that are used in the production of these two goods are not specialized—that is, the same set of resources is equally useful in producing both trucks and cars. The shape of Canada’s production possibilities frontier (PPF) should reflect the fact that as Canada produces more trucks and fewer cars, the opportunity cost of producing each additional truck Blank? -decreases -increases -remains constant Based on the previous description, the tradeoff Canada faces between producing trucks and cars is best represented by BLANK? -GRAPH 1 -GRAPH 2 . New part: Suppose that Spain and Tunisia both produce oil and wine. Spain’s opportunity…

  • Consider A Market With Two Firms Where The Inverse Demand Function Is Given By P = 28 2q And Where Q = Q1 + Q2

    Question Consider a market with two firms where the inverse demand function is given by p = 28 – 2q and where q = q1 + q2. Each firm has the total cost function c(qi) = 4qi, where i = {1,2}. a) Compare price level, quantities and profits in this market calculating the Cournot equilibrium and the Stackelberg equilibrium. Draw a graph with best response functions and illustrate the Cournot and Stackelberg solutions in that graph. b) Compare your solutions in a) to the outcomes under perfect competition and under collusion (monopoly) and illustrate your additional findings in the same graph. Counnot:P= 28- 2(91 1 +962 )X1 = 128- 2…

  • 1/ The Incentive To Cut Costs Is ________ For ________ Prisons (As/Than) It Is For ________ Prisons Group

    Question 1/ The incentive to cut costs is ________ for ________ prisons (as/than) it is for ________ prisons. Group of answer choices a. about the same; private; public b. smaller; private; public c. greater; private; public d. greater; public; private Flag this Question Question 8 1 pts Suppose a customer at a restaurant is deciding whether or not to order dessert. Marginal thinking means that the customer should compare: Group of answer choices a.the total benefit from the entire meal and dessert with the additional cost of the dessert. b.the total benefit from the entire meal and dessert with the total cost of the meal and dessert. c.the additional benefit…

  • You Won A Free Ticket To See A Concert By Eason Chan A Local Pop Singer You Cannot Resell It (Say Your Photo Id

    Question You won a free ticket to see a concert by Eason Chan, a local pop singer. You cannot resell it (say, your photo ID will be checked at entrance). Yo-Yo Ma, the world’s finest cellist, is performing on the same night and is your next-best alternative activity. Tickets to see Yo-Yo Ma cost $800 each. On any given day, you would be willing to pay up to $1000 to see Yo-Yo Ma. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost of seeing Eason Chan? (A) $0. (B) $200. (C) $800. (D) $1000. Microeconomics

  • Determine Whether Each Of The Following Topics Would More Likely Be Studied In

    Question Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. -The effect of government regulation on a monopolist’s production decisions -The effect of a large government budget deficit on the economy’s price level -The effects of the Internet on the pricing of used cars *Microeconomics *Macroeconomics 6. Normative and positive statements The following table contains statements that provide some analysis of policies that address globalization. Categorize each of them as positive or normative. -In the past decade, Canadian companies have outsourced millions of jobs overseas. -Companies that outsource jobs are acting immorally. -If the Canadian government were to institute higher tariffs on imports,…

  • A New Machine Comes With 100 Free Service Hours Over The First Year

    Additional time costs $50 per hour.What Question A new machine comes with 100 free service hours over the first year. Additional time costs $50 per hour. What are the average and marginal costs per hour for the following service hour quantities? (a) 75 average = marginal = (b) 125 average = marginal = (c) 250 average = marginal = Microeconomics

  • 17 The Fact That The Ppf Usually Bows Away From The Origin Implies That A) As The Production Of Any

    Question 17. The fact that the PPF usually bows away from the origin implies that … a) as the production of any good increases, there is an increase in the opportunity cost of producing it. b) as the production of any good increases, there is a decrease in the opportunity cost of producing it. c) getting more of one good means getting less of another good. d) getting more of one good means getting more of another good. e) resources are perfectly fungible, easily moved between alternative uses to satisfy consumer demand. Microeconomics

  • Question 1 Cambonesia Is A Small Exporter Of Bananas Without Trade The Price For Bananas Is $1 200 Per Tonne

    Question Question 1.Cambonesia is a small exporter of bananas. Without trade, the price for bananas is $1,200 per tonne. The world price of bananas is $2,000 per ton. Currently, Cambonesian exporters pay $500 for every tonne of bananas shipped abroad. Suppose that the government of Cambonesia decides to pay domestic producers half of the transportation costs for every tonne of banana exported. Discuss the welfare implications of such a policy in the market for bananas in Cambonesia. Illustrate answer with appropriate diagrams. ( consider the impact on consumer surplus, producer surplus, the government’s revenue or expenditure, and deadweight loss (if any), within the market.) Question2. In an effort to encourage…

  • Looking At Differences Between A Single Firm Within A Perfectly Competitive Market And A Monopoly Which Of The

    Question Looking at differences between a single firm within a perfectly competitive market and a monopoly, which of the following is true? a. A single firm within a perfectly competitive market, sees the entire downward sloping demand curve of the perfectly competitive market. b. A single firm within the perfectly competitive market can set its price at any level and willl not see a change in the demand. c. Because it is the only producer in the market, the monopoly sees the entire downward sloping demand curve of the market. d. Because it is the only producer in the market, the monopoly will sell the same amount, no matter what…

  • Given That Tc Function In The Short Run Is Tc=100+50q12q^2+Q^3 Were Tc Is The Total Cost And Q Is The Level Of

    Question given that tc function in the short run is tc=100+50q-12q^2+q^3 were tc is the total cost and q is the level of output, determine the total fixed cost function, the total variable cost function, average variable cost function, marginal cost function. calculate total cost, average variable cost and marginal cost when the firm produces 10 units of out put. calculate the level of out put at which average variable cost is minimum. Microeconomics

  • Question 1discuss The Long Run Average Cost Curve Of A Firm And How It Represents

    Question QUESTION 1 Discuss the long – run average cost curve of a firm and how it represents returns to scale. Substantiate the answer with the aid of diagram. QUESTION 2 Depending on the characteristics of the market structures, firms will experience different profit maximizing positions in the short-run and long-run In terms of this statement, discuss the profit maximizing positions of a monopolistically competitive firm and monopolist in the long-run. Microeconomics

  • I Need To Review For Microeconomics 101 From Uw Madison I Only Want To Review Homework Which Deal With

    Question I need to review for microeconomics 101 from UW Madison. I only want to review homework which deal with numerical calculation. So, I would love to know the homework type problem. What I mean is I need you to classify the type of question( find supply, find maximum revenue, maximum profit, find maximum profit in cournot model) and a thorough solution how you solve problems. You can reuse any material in the Internet All of my request is to classify micro econ problems and attach a solution for it so that I can review better for the test. A thorough review is highly desired REFERENCESwww.coursehero.comhttps://sites.bu.edu.monovohttps://quizlet.com c.d. Figure SSD. The…

  • What Are The Positive

    Question What are the positive and negative economic effects of rent control? Question 4 — Rent Control (40 points) Let the demand and supply functions for one-bedroom rental housing in San Francisco be givenby QD = 449,000 — 200R , and Q3 = -1000 + 100R, where R is the monthly rent of a one-bedroom apartment. 3) (10) What is the equilibrium rent, R*, and quantity of housing on the market, Q*? Graphyour answer, showing the equilibrium P, Q*. h) (10) What happens in the market when we institute rent control: rents are capped at IT = $1000 per month. What is Q3? Is there a shortage or a surplus…

  • More Than A Decade Ago The Cambonesian Government Began Stockpiling Wheat Because It Introduced A Minimum Price

    Question More than a decade ago, the Cambonesian government began stockpiling wheat because it introduced a minimum price policy where the state would purchase any resulting surplus from the nation’s wheat farmers. Recently, it was announced that the government would adjust the price of wheat sales downward in order to hasten the destocking of its huge stockpiles of wheat. Please use an appropriate diagram, explain what would happen to quantity demanded, quantity supplied, and government spending, in Cambonesia’s wheat when the policy adjustment takes place. Who benefits? Who loses? Would consumers’ total expenditure on wheat be more like to rise or fall, as a result of this policy adjustment? Please…

  • A Recent Report On Climate Change Was In The News A Lot In The Last Year (See For Example

    Question A recent report on climate change was in the news a lot in the last year (see for example https://www.washingtonpost.com/energy-environment/2018/10/08/world-has-only-years-get-climate-change-under-control-un-scientists-say/?utm_term=.02cdd9903964 ). Guidance in the UN report for slowing climate change ranged from increasing use of electric vehicles and programmable thermostats to eating less meat. With this report in mind, what are your thoughts on the most promising approach to slowing climate change and how that approach would affect key climate controls (as described in Prof. Cerveny’s lecture)? Microeconomics

  • 1 Explain Why The Characteristics Of Comparability And Consistency Are Important In Financial Reporting?

    Question 1. Explain why the characteristics of comparability and consistency are important in financial reporting? 2. What are the two key principles that are the foundation of the accrual basis of accounting. 3. Why might it be unfavorable for a firm to reduce repairs and maintenance, advertising, and research and development expenses? 4. If an investor wants to understand how well a firm is performing in their core industry, which profit number (gross, operating or net) would be the best to analyze? Explain why. Microeconomics

  • The Deering Manufacturing Company’S Short Run Average Cost Function In 2012 Was Ac = 3 + 4q Where Ac Is The

    Question The Deering Manufacturing Company’s short- run average cost function in 2012 was AC = 3 + 4Q Where AC is the firm’s average cost (in dollars per pound of the product), and Q is its output rate. a) Obtain an equation for the firm’s short- run total cost function. b) Does the firm have any fixed costs? Explain. c) If the price of the Deering Manufacturing Company’s product (per pound) is $3, is the firm making profit or loss? Explain. d) Derive an equation for the firm’s marginal cost function. Microeconomics

  • The Market For

    Question The market for lobsters is perfectly competitive. Total cost for a firm that harvests q lobsters is given by TC = 800 + 1q2. The market demand for lobsters is QD = 2000 − 5P. 1. 2. 3. 4. 2 Find the output by each firm, the market price and the number of firms in operation when the market is in long-run equilibrium. Suppose now that the government imposes a $450 luxury tax on each firm, raising costs to TC = 1250 + 1q2. In the short run, where the number of firms is the same as 2 in (1), find the new short-run output by each firm along…

  • Major Causes of Rising House Prices in the UK

    Over the last thirty years, the housing prices in the UK have increased in real terms by nearly three per cent a year. This is in contrast to other countries like France, Sweden and Germany where real estate prices have remained broadly constant or even declined. The determination of prices in local and regional housing markets is a classic example of microeconomics in action. Each housing transaction in the UK depends on the price the seller is willing to sell his property and on the price the buyer is able to pay for it. Buyers place offers for a property that the seller can either accept or reject. When the…

  • Coffee Industry and Todays Economics Demands

    Running head: Coffee industry and today’s economics demands Coffee industry and today’s economics demands In APA Format AbstractThe beginning of 1999 saw a rapid fall in the prices of coffee and the same has adversely affected the producers of coffee. Coffee is the largest imported commodity which is second only to oil. This commodity is the source of living for as many as 20 million people all around the world. There are two major types of coffee beans, namely Arabica and Robusta. Arabica is a better brand than Robusta and is basically grown where there is high elevation and optimal climatic condition for the same to grow. This paper is…

  • Impacts of Rising Production of Biofuels on Economy

    Agricultural development would make Biofuel’ s production little higher. However, farmers would be in a position to produce higher amount of corps. Biofuel demand would also be increased as it is better oil direct alternative of oil amp. gasoline. Oil market is direct competitor of Biofuel renewable energy. However, lower oil prices would put significant influence on biofuel price. In other case, if oil prices set at higher level. However, demand for biofuel would definitely get improved. Vehicle fuel consumption is increasing on daily basis. People therefore give importance to cheap energy sources. Today, farmers have been with improved agricultural and conversion productivity. Eventually, higher energy prices in the 2000s…

  • Macroeconomics and Microeconomics

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