Blake eats two bags of generic potato chips each day, and does not purchase any name-brand chips. Blake's hourly wage increases from $8 to $15, and he decides to eat one name-brand bag and one generi

Q: What is the cross-price elasticity of demand? Based upon your answer, are Netflix and HCCCtinder…

A: Netflix subscribers:- qn.  HCCC tinder subscribers :- qh price of Netflix :- pn         ; price of…

Q: Consider an economy operating below its full-employment output level. The government wants to enact…

A: The economy is operating at full employment when all the resources are efficiently utilised and the…

Q: Regulated firms Select one: Have less incentive than competitive firms to reduce costs All of the…

A: In the free market, the equilibrium price is determined by the forces of demabd and supply curve.…

Q: of t per unit. The government is considering replacing these taxes with a lump-sum tax to the…

A: According to the idea of revealed preference, which was proposed by the American economist Paul…

Q: What lump-sum amount of interest will be paid on a Php 750,000 loan that was made on August 1, 2012,…

A: Principle = 750,000 r = 12%

Q: Derive (again!) the LM curve from considering how income increases affect money demand

A: Introduction Money supply includes all money in the economy. Money supply may include demand…

Q: c. How much would it have cost you to bake all 10 cakes? Instructions: Enter your answer as a whole…

A: The cost of purchasing  the cake is $25 per cake Price of cake =$30 To solve subparts a and b, we…

Q: Sebastian Vincent and his wife, Elyse have they decided to purchase $2500 worth of utility stocks…

A: Present worth of the payments will be calculated as the sum of the present value of the payments…

Q: Q1 = (4310/22) - (P1/22)    Q2 = (5021/17) - (P2/17)    TC = 760 + 14Q1 + 32Q2    Form the profit…

A: Demand function shows the functional relationship between Quantity demanded for a commodity and its…

Q: Firms in a competitive market can sell as much as they like at a market price of $16. The cost…

A: In the perfectly competitive market firm is price taker only. Individual firm can not influence the…

Q: 7.2. A consumer has a utility function u(x₁, x₂) = max{₁, 2}. What is the consumer's demand function…

A: The max function generally represent the combination of  2 or more then 2  which is not consume in…

Q: Why did costs for shipping containers increase so sharply during the pandemic? Check all that apply.…

A: Solution: The coronavirus pandemic caused a disruption in the supply chains and it lead to shortages…

Q: Consider the following simplified scenario. Imagine that the Australian national rugby union (for…

A: Profit maximising refers to the process by which businesses choose the production, cost, and output…

Q: The government decides to regulate the labor market. Assume the demand for labor is inelastic,…

A: Since you have asked multiple question, we will answer first question for you. If you want any…

Q: The market demand for a good is P = 70 - Q. The good can be produced at a constant cost of $10. How…

A: There is a single firm in the monopoly market and it is price maker while in the perfectly…

Q: 4. Saving for his retirement days is the main reason Mr. Suarez invests his money in an account that…

A:

Q: (1) Draw an Edgeworth box and show the initial allocation of goods, to be labelled e. Indicate the…

A: Here the lower  left hand side corner is the point of origin for David and the top right hand corner…

Q: Kim has $24 per week in her entertainment budget. She splits her time between going to the movies…

A: In economics, utility-maximizing choice between consumption items arises where the marginal utility…

Q: The price of a Universal Testing Machine doubles in 15 years. What is the compounded yearly interest…

A: Given that,    Principal (P): $1000(let assumed) Total P+I (A): $2,000(let assumed) Time (t in…

Q: Even before the pandemic, bicycle supply chains were strained. Why was this? Check all that apply.…

A: Bicycle companies moved the production out of China because of the rise in rate of tariff by former…

Q: Which one of the following is the best example of someone acting according to the assumptions of the…

A: The neoclassical model, which is based on labour, capital, and technology, describes continuous…

Q: If the Canadian dollar is strengthening, then: it has been unpegged from other currencies. O it has…

A: The exchange rate in international trade is referred to as the price at which one country's currency…

Q: A central focus of prospect theory is Multiple Choice how people deal with "bads," as well as how…

A: Hypotheses: Hypotheses are the reduced thoughts and solutions connected with some occurrence or…

Q: The growth rate of real GDP in the United States rises from 4.2% to 4.4%. Explain and calculate how…

A: It has been given to us that the growth rate of real GDP has increased from 4.2% to 4.4%  We have to…

Q: At a particular job, workers' wages are linear and based on years of experience. You ask two workers…

A: Minimum wages have been explained as the least amount of remuneration that an employer is needed to…

Q: You are hired by your hometown to study use of public transportation there. When holding everything…

A: The normal good refers to the good which is positively related to the income. While the inferior…

Q: 200 O 50 000 y 40 000 30 000 b 100 150 20 000 10 000 elastic 50 inelastic 100 50 150 200 X 200 X i O…

A: The degree to which the quantity desired or supplied responds to the price is known as elasticity.…

Q: will an increase in productivity affect the aggregate supply curve and the aggregate demand curve?

A: Productivity Productivity is a computation of the efficiency of production. It is the proportion of…

Q: 5. Calculating tax incidence Suppose that the U.S. government decides to charge beer producers a…

A: There are two types of taxes: Direct taxes, and indirect taxes. Taxes imposed on commodity comes…

Q: Which of the following arguments can be used to correctly defend the WTO’s position on the…

A: Introduction The world trade organization was formed in 1995. Its headquarters are in Geneva. It is…

Q: Instructions: Round your response to two decimal places. c. By how much has the average price level…

A: Given information: The total basket cost in 2012: 9680 The total basket cost in 2022: 14520 To…

Q: It's October 21 and the air conditioner at the Brown household has just gone out. Fortunately, they…

A: FV = 3,500 n = (deposit from 21 Jan to 21 may) i.e. 5 months r = 1.25% per month

Q: Nominal GDP increased from roughly $15 trillion in 2010 to $21 trillion in 2020. In the same period,…

A: Real GDP is a computation of a country's gross domestic product that has been modifying for…

Q: 3. Samson bought a new cutting machine for P5,000,000.00. The machine could be sold for P50,000.00…

A:

Q: Does the quantity of the good on the y-axis affect the consumer's utility if the indifference curve…

A: The indifference curve describes the potential pairings of two commodities that produce the same…

Q: How does healthcare system in country affect economic development?

A: A health framework, medical care framework, or medical care framework is an association of…

Q: ou did some work on it. Sub parts to be completed/solved.  Need help with this 1. Spending -…

A: Disclaimer: “Since you have asked multiple questions, we will solve 3 sub-part questions for you. If…

Q: Need help with putting the peak and trough.

A: Business cycle shows the fluctuation of the economy between the period of growth and recession. Peak…

Q: Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the…

A: Since you have posted multiple subparts, as per the guidelines  we can solve only first 3 subparts.

Q: QUESTION 13 Say that Alland can produce 32 units of food per person per year or 16 units of clothing…

A: Comparative advantage is an economy's capacity to produce a particular decent or service at a lower…

Q: Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed…

A: Marginal cost is the cost of additional item.  And , Fixed costs are the costs which don't change…

Q: The following relative frequency distribution summarizes the ages of women who had a child in the…

A:

Q: Which of the following reduces the money multiplier? O banks loan all their excess reserves O the…

A: The money multiplier is an economic factor that leads to change in other related economic variables…

Q: Is zero pollution possible under a marketable permits system? Why or why not

A: We know that The pollution of the environment is considered a serious issue and is important damage…

Q: Today, one U.S. dollar exchanges for 110 Japanese yen. The next morning the same dollar exchanges…

A: USD/JPY refers to a ticker applied on denoting the currency rate of exchange for the U.S. dollar and…

Q: Consider the following simplified scenario. Imagine that the Australian national rugby union (for…

A: Regular tickets demand :  QF(P) = 120 – 2P Concessional tickets demand :  QC(P) = 80 – 2P Marginal…

Q: Resource demand Select one: a. Does not depend upon the productivity of the resource b. Is a direct…

A: The demand for a good refers to the quantity of the good consumers are willing and able to purchase…

Q: economics question. *What were the policy responses used to combat the shortage of hand sanitizer,…

A: The COVID-19 pandemic had devastating impact on basic need products due to less supply and more…

Q: An electronics company gives a warrantee on a $150 eReader that covers accidental damage (AD) and…

A: A customer refers to any individual or entity that makes a purchase from another company, whether it…

Q: price of gold becomes less volatile, then, c and for gold will ect one: a. increase increase b.…

A: We have to find following question.