How prevalent and important are small entrepreneurial firms in economies around the globe?

Q: The equipment bought at a price of Php 450,000 has an economic life of 5 years and a salvage value…

A: Under this method, the book value of the asset is reduced by a fixed percentage each year, rather…

Q: Potential real GDP is equal to $10,000 and the current level of real GDP is equal to $9,000. What…

A: Introduction The output gap is the variance between an economy's actual and potential output. It is…

Q: Consider the hypothetical economies of Thalassa and Svarta, both of which produce crates of copia…

A: Productivity is an important economic concept that is used to measure a production efficiency of a…

Q: Suppose you consume three goods, and you have the following expenditure function: E(Pa, Pys P, U) =…

A: Elasticity of demand is a measure of the responsiveness of the quantity demanded of a good or…

Q: Question 1 Consider a first-price sealed bid auction of a single object with two bidders j = 1,2 and…

A: Nash equilibrium serves as a depiction of the action characteristics of each player when making…

Q: One of the most famous examples of a standards war arises from what is known as the War of Currents…

A: Nash Equilibrium represents an action profile for all players in a game and is used to predict the…

Q: Justify the statement. T/F Scarcity increase with the rise in the population.

A: When resources are scarce, it means that there are not enough of them to meet everyone's…

Q: The antitrust law aim to a. Facilitate operation among firms in oligopolistic industries  b.…

A: A market structure known as an oligopoly lowers societal economic wellbeing by failing to deliver…

Q: Exporting unemployment refers to: (A) Effect of a recession on international trade (B) Negative…

A: Exporting employment is a phenomenon where a country's trade surplus results in a negative impact on…

Q: D Question 24 Income inequality is indicated by a Lorenz curve that: approaches the vertical axis.…

A: Income inequality shows the differences in income distribution among households of a society.

Q: how GDP in the PHIlippines (2017-2022) affect the jollibee corporation, with reference

A: The gross domestic product (GDP) of the Philippines can have an impact on the performance of…

Q: Which of the following is not an example of price discrimination? a. rental car companies charging…

A: Price discrimination is the practice of charging different prices for the same good to different…

Q: Using the AD/AS model, what would be an explanation for observing an increased price level and a…

A: Business cycles provides the details on a declining, slowing down, and speeding up of the economy,…

Q: True/False  Economy always operates on the production possibly frontier.

A: PPF stands for Production Possibility Frontier. It is a visual representation of how much an economy…

Q: Q14 plz help quick all info u need is there Consider a market (aggregate) inverse demand function:…

A: As given inverse demand function: p = 60 - 2q Total Revenue = Price * Quantity

Q: Plot these data points, and identify the four phases of the business cycle. Give a theory that may…

A: Real GDP is an inflation-adjusted computation that analyses the rate of all goods and services…

Q: What does the A_bar parameter in our model allow us to do? It allows us to explain the difference…

A: Since , we know that in a production function for example a Cobb-Douglas type  Y= A_ bar .K^alpha…

Q: True or False: The shape of the total physical product curve reflects the law of increasing marginal…

A: The law of increasing marginal returns also called the law of diminishing costs states that as far…

Q: Suppose five people have houses on the same small lane. They all individually benefit from regular…

A: The marginal benefit refers to the maximum amount a consumer is willing to pay to acquire an…

Q: For a​ monopolist's product, the demand equation is p=29−4q and the​ average-cost function is c=5+…

A: As given Demand function: P = 29 - 4Q Average cost function: C = 5 +40/Q Total cost = Average cost ×…

Q: uglas Fur is a small manufacturer of fake-fur boots in San Diego. The following table shows the…

A: Total cost = Total Fixed cost + Total variable cost Average variable cost = Total Variable…

Q: What is the elasticity of substitution of f(K, L) = KL²? (a) 1/3 (b) 1/2 (c) 2/3 (d) 1 (e) 3/2 (f) 2

A: Since there are multiple questions, we will solve the first question for you. If you want any…

Q: 3. Refer to the information provided in Figure below to answer the following questions. $4 Price of…

A: Since, you have posted question with multiple sub parts, we will provide solution only to the three…

Q: The following question has 5 parts (a.-e.), parts d. and e. will be revealed after submitting your…

A: The cost of living, in economics and statistics, is the financial cost of maintaining a particular…

Q: A country produces output using a production function: Y = F(K, L) = AxK0.5 L0.5  where L is…

A: The steady state is reached where the per capita variables no longer undergo the change. Economies…

Q: 3. Fred Jones a new employee at Stibo's Frozen Foods estimates that the price elasticity of demand…

A: Reason to be suspicious of Fred's estimate: Fred's estimate of the price elasticity of demand for…

Q: A survey of 500 people finds that when the price of a table is $100, the people in the survey will…

A: The demand and price are inversely related to each other. When the price of good increases, it leads…

Q: A non- competitive firm's demand curve is P = 10- 4Q. So its MR is O 5-2Q O10-4Q 10-8Q 05-Q

A: Total revenue is the product of price and quantity.  Marginal revenue is the revenue generated from…

Q: (-) in front of those numbers. a. Calculate real GDP for 2000 using 2010 prices. billion. $18596.67…

A: For the years 2000 through 2019, the table provides data on nominal GDP and GDP deflator. Real GDP…

Q: In many developing nations, young women have lower enrollment rates in secondary school than do…

A: There is a positive relation between a rise in the level of education opportunities for young women…

Q: You expect to receive the following: $3,527 $18,541 $4,500 $1,011 $8,583 at the end of each year for…

A: The present worth of a cash inflow or outflow refers to its value at present in accordance with its…

Q: Suppose the production function for good q is given by q = (k+1)¹/2 where k and I are capital and…

A: Diminishing marginal productivity refers that as we increase the amount of input, the additional…

Q: Suppose one of the consumers has Leontief preferences (i.e., views the two goods as perfect…

A: MRS: The utility can be derived from the satisfaction earned from consuming different commodities.…

Q: Which of the following elasticities can be generated by a Marshallian demand function 9a (Pa, Py, I)…

A: Elasticity refers to the percentage change in quantity demand of a good due to the percentage change…

Q: Steve promises to pay Amanda $2,000 in four years and another $3,000 four years later  for a  loan…

A: A loan could be considered as a swap of buying power over time between lenders and borrowers. The…

Q: Complete the following table by using the previous graphs to determine the values of consumer and…

A: Consumer surplus is the difference between the highest price a consumer is willing to pay and the…

Q: 3. Suppose we divide the world into 2 regions, A and B, and that: Region A's demand curve for…

A: Given  Region A's demand equation DA=1800-20P              ..... (1) Region A's supply equation…

Q: Show how to derive an IS curve that includes the consumption multiplier. That is, assume investment…

A: Given information Investment functionIt=aIYt-b(Rt-r)YtConsumption functionCt=aCYt+xYt~Yt

Q: The minimum price frontier in the long run can be at the level of a. Average total cost and profit…

A: The minimum price frontier refers to the lowest possible price at which a firm can produce a given…

Q: If the demand curve is steeper for particular health services the moral hazard is less ? True or…

A: In the health care industry moral hazard happens when individuals who do not have to pay for medical…

Q: Show mathematically the effects on the equilibrium price and quantity of corn from a per unit of tax…

A: Equilibrium after taxation refers to the price (p) and quantity (Q) at which a market clears after…

Q: According to the idea of comparable worth, a firm employing secretaries and steelworkers should…

A: Comparable worth, also known as pay equity, is the idea that jobs that require comparable skills,…

Q: Suppose real GDP grows by 7% this year and the amount of labor technological progress this year is…

A: The growth rate of the aggregate capital stock can be calculated using the Solow - Swan model, which…

Q: 1. Consider a perfectly competitive market with a price of $21, where each firm has a cost function…

A: In the short run, firms in perfectly competitive markets can earn a profit. However, this attracts…

Q: 8. WHICH COUNTRIES ARE MEMBERS OF THE EURASIAN ECONOMIC UNION? a) Russia b) Armenia e) Kirghizia c)…

A: The Eurasian Economic Union (EAEU) is a regional economic union that was established in 2015. It is…

Q: in the short run firms in perfect competition will still produce provided the: 1. price covers…

A: A market structure known as perfect competition is defined by a large number of small businesses…

Q: If Japan goes from a small budget deficit to a large budget deficit, it will reduce A. public saving…

A: A budgetary deficit is alluded to as the circumstance where the spending is more than the pay.…

Q: If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price?

A: The collection of economic indicators that the market is often steered toward by demand and supply…

Q: Assume the economy begins with potential real GDP = $13.7 trillion, while actual real GDP = $14…

A: The AD/AS model shows the relationship between the aggregate quantity of output and the general…

Q: The top graph below shows the marginal cost (mc), average variable cost (avc) and average total cost…

A: In the long run, firms keep on entering exiting the market until the profits gets normalized. This…