Ari intends to purchase a new car and has narrowed it down to a Dodge Ram truck or a Toyota Camry. A Dodge Ram truck costs $55000 while a Toyota Camry costs $20000. The utility that Ari will get from Dodge Ram truck is 12500 while Toyota Camry will generate a utility of 2500. Note: A purchase generating utility tells us the marginal utility of the good. What is the Marginal Utility per Dollar for Dodge Ram truck? What is the Marginal Utility per Dollar for Toyota Camry? Will Ari be better off buying a Dodge Ram truck or a Toyota Camry? ODodge Ram truck OToyota Camry 9- 9-

Q: nts Question 5 If your tuition is $2,000 this semester, your books cost $400, you can only work 10…

A: The value of what you have to give up in order to choose something else is referred to as the…

Q: 1. What global developments have caused financial, social, and ecological sustainability to become…

A: In recent years, the idea of sustainability has been gaining popularity as an increasing number of…

Q: What is a marketing information system (MIS)? What types of information does it include?

A: We know that A business organization has several departments and systems that indulge in different…

Q: Given the production function Y-AK0.3 0.7, if an economy's capital per worker k is $27 thousand, and…

A: Given information: Y = A K0.3L0.7  ----------> Production function Where Y is output, A is total…

Q: (a) Find the average rate of change (in $ per unit) of C with respect to x when the production level…

A: Marginal cost addresses the incremental costs caused while producing extra units of a good or…

Q: Give me three examples of a normal good, luxury good and inferior good and tell me why ?

A: Three examples of normal goods are- Clothing, household appliances and food Staples. Normal goods…

Q: If real GDP is $21 trillion and potential GDP is $20 trillion, how big is the output gap? ____…

A: Real GDP is the value of final goods and services produced in the year within the country, valued at…

Q: person needs ​$17,000immediately as a down payment on a new home. Suppose that she can borrow this…

A: Introduction: P = $17000 R = 13% To calculate the amount of each payment (A) we must first compute…

Q: Consider the CEO of a company that sells coffee at small free standing shops around the country. The…

A: Elasticity is the responsiveness in one variable due to change in another variable.

Q: A bank made a farmer a loan of $1,400 at 16% for three years compounded annually. Find the future…

A: Future value refers to the total amount that will accrue over defined time frame when that principal…

Q: hich of the following groups is most harmed by unanticipated inflation? Select one: a.Those whose…

A: Inflation refers to the sustained rise in the general price level. It reduces the real value of…

Q: The economic uncertainty created by COVID19 has in turn caused consumers to reduce their…

A: Short-run is a period when a few factors of production are fixed and some are variable. Output can…

Q: Consider the two mutually exclusive alternatives given in the table below. n 0 1 23 Net Cash Flow…

A: IRR in capital budgeting refers to the discount rate that results in a 0 value Net Present Value.…

Q: In five years, P18,000.00 will be needed to pay for a building renovation. In order to generate this…

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

Q: Consider an economy in which the consumption, investment and production functions are as follows. C…

A: Equilibrium in economy is achieved at the point where , aggregate demand equals aggregate…

Q: In the simple circular-flow diagram, in which market are households sellers? the factors of…

A: Introduction Circular flow of income refers to the cycle of generation of income in the production…

Q: Consider the market for tablets depicted below (think iPad or Microsoft Surface). If a price ceiling…

A: Price celling is the government tool to control the market situation. price celling is that price…

Q: To promote economic growth, gov'ts should O increase the amount of machines available to workers…

A: We have the production function as:  Y = AF(K,L) Where Y : total output     A : total factor…

Q: The contract of a new public-private partnership (PPF project has been signed to lease a building at…

A: # Payments would be made at the end of year in the next 8 years.  # First payment would be 20,000…

Q: Consider the following four equations: p=0.01q-5, p=0.005q+0.5 , p=-0.01q -10 , p p= -0.01q+5 . One…

A: Given,  The equations are as follows :p=.01q-5p=.005q+.5p=-.01q-10p=-.01q+5 Demand curve is defined…

Q: 90 85 Price ០៣៩៣៩៥៩៦តៗទាវវគ 80 65 60 55 50 45 40 35 30 25 20 15 10 $75; Market for Laptop Chargers…

A: The maximum willing price for a good or service is referred to as the reservation price. It is…

Q: Question 9 The table shows the output of bikes and skateboards for Luke and Han (the end points of…

A: Comparative advantage occurs where a country can produce a commodity at lower cost relative to other…

Q: 19 In the US, where most private health insurance coverage is provided by employers, changing…

A: a) The insurer is aware that if the employee is not feeling well, he will have to pay a significant…

Q: The following paragraphs discuss the impact of various economic events on the exchange rate.…

A: Balance of payment is the account that records the monetary transaction between two nations.…

Q: What is the difference between Commodity v/s Fiat Money? explain elaborately?

A: Money is a commodity that is widely used as a medium of exchange in economic transactions. It acts…

Q: F(K, L) = AK¹/21/2 The capital and labor supply are equal to 100 each, A=10, G = 200 and T = 200.…

A: # Consumption: C = 90 + 0.7(Y-T)  # Investment: I = 250 - 20r # Production function: Y = AK1/2L1/2 #…

Q: sa credit card interest rate cap an example of a price ceiling or price floor? A. Price Ceiling OB.…

A: Price ceiling means maximum price or price or rate can rise above this limit. Floor price is minimum…

Q: All of the following are fundamental concepts of economics EXCEPT O marginalism. O profit…

A: Economics refers to the study of social science that deals with the production, distribution and…

Q: he table below includes data for a one-year period required to calculate GDP from the income side…

A: Gross domestic product (GDP) refers to the summation of all market value of goods and services which…

Q: II. Determine the effect on equilibrium price and quantity sold if the following changes occur in a…

A: demand refers to the quantity of goods that a consumer wants to buy at a given price in a given…

Q: You are presented with the following break-even chart of GHI Company. They have budgeted sales of 75…

A: The breakeven condition or point is reached where the total revenue is equal to the total cost of…

Q: nd Study Tools ptions uccess Tips access Tips back O8…

A: A deadweight loss implies to cost to society made by market inefficiency, which happens when supply…

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: Perfect competition is the market where large numbers of buyers and seller exchange the homogenous…

Q: After iterated deletion of dominated strategies in the following game, which strate Player 1 NES W S…

A: Dominated strategies are less attractive and does not maximize the outcomes. Thus, player does not…

Q: A debt of 'x' pesos, with an interest rate of 7% compounded annually will be retired at the end of…

A: A sinking fund refers to the creation of an account for keeping the money set aside to pay off a…

Q: You are maxiimizing utility when :A)(MU of X)/(P of X) < (MU of Y)/(P of Y). B)(MU of X)/(P of X)…

A: By maximizing utility, the consumer will choose the good that has the highest marginal utility at…

Q: Determine the exact simple interest on ₱1,000,000 invested for the period from October 24, 1997 to…

A: Answer: Given, Principal amount=₱1,000,000Period=October 24, 1997 to January 7, 2002Rate of interest…

Q: Refer to the diagram, in which S1 and D1 represent the original supply and demand curves and S2 and…

A: Demand in economics alludes to the quantity demanded of a good at various price levels. According to…

Q: Consider two firms with the following marginal abatement costs (MAC) as a function of emissions (E):…

A: The socially efficient level of emission is the level of emission where marginal abatement cost and…

Q: e price of product A changes from $1100.00 to $200.00 and as a result, Jerome's purchases of product…

A: Cross price elasticity of demand depicts how much a good responds with the change in the price of…

Q: B a = 7 b=5 c=18 d=24 Q

A: Autarky refers to the closed economy where a economy does not have trading relationship with other…

Q: Which of the following statements is true about specialization and trade? Group of answer choices A…

A: Comparative advantage and absolute advantage are distinct concepts in economics. Actual production…

Q: MMCM purchased an equipment which is going to be used by the students for their laboratory. To…

A: There are two annuities in above example - Annuity 1 : Annual Payment = 40000 Period = 5  Annuity 2…

Q: Question 3 The inverse demand for push scooters: P = 900-4Q The inverse supply for push scooters: P…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: I Conceptual 1. The following data give the percentage of women working in five companies in the…

A: We have given the data on the percentage of women working in 5 companies and the percentage of…

Q: 3. A firm producing hockey sticks has a production function given by q = 2√kl. In the short-run, the…

A: Answer: Given, q=2klk=100v=$1w=$4 (a). The total cost function is given below: Total cost=units of…

Q: Total revenue increases of the price of the good A) rises and demand is elastic. B) rises and…

A: The elasticity of demand is the percentage change in quantity demanded divided by the percentage…

Q: Follow-up questions d. In this model, workers earn the same total assets whether they work L1 or L2…

A: DISCLAIMER “Since you have asked many questions, we will solve the first 3 subparts for you. If you…

Q: Capital Goods M P K Consumer Goods 4. Assuming the inner curve is our current production…

A: A production possibility curve represents the potential level of the combination of two goods that…

Q: Instructions: in parts a and b, round your answer to two decimal places. In part entering a negative…

A: Multiplier: A multiplier generally refers to an economic factor under which when increased or…