In the long run, some firms will respond by Shift the demand curve, the supply curve, or both on the following graph to illustrate both the short-run effects of the publication an run equilibrium after firms and consumers finish adjusting to the news. 10 a Supply Demand until ?
Q: if real interest rates fall, output in the short run will (Rise or Fall)
A: The aggregate demand is given as: Y = C (private consumption expenditure) + I (private investment…
Q: If the firms in a monopolistically competitive market are earning economic profits or losses in the…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: How will each of the following scenarios impact the market for money The central bank increases the…
A: Introduction : The money market equilibrium is determined by the demand for and supply of money.…
Q: 15. In the loanable funds market of a closed economy, a government reduces its purchases, moving…
A: Introduction A closed economy is one that does not swap their trading with outside economies. A…
Q: nsider the following supply and demand curves Price = 35-4*Q Price = 3*Q Suppose the government…
A: The equilibrium is set up where the demand and supply forces are equal. The given demand and supply…
Q: COMPARE THE GDP OF BARBADOS AND JAMAICA IN RELATION TO UNEMPLOYMENT RATES
A: Unemployment refers to the situation wherein the people looking for a job at prevailing wage rates…
Q: What is the NAIRU? the natural accelerating inflation rate of unemployment the nonaccelerating…
A: Unemployment rate is calculated by dividing the total labor force from no. of unemployed workers and…
Q: The short-run supply curve for a perfectly competitive firm is its
A: Shutdown point is the level where firm is not recovering its average variable cost . At this point…
Q: An electronic device is available that will reduce this year’s labor cost by$16901.The equipment is…
A: Bi-monthly means that the interest will be computed twice a month i.e. every two months. To…
Q: Assume for this question only that when the price of computers decreases, less of that good is…
A: In microeconomics, the marginal rate of substitution, also known as technical rate of substitution,…
Q: The following problems require the use of the graph below. Make sure that you are clear in doing any…
A: Government can put taxes for negative externalities and subsidies for positive externalities. Also,…
Q: How is wage suppression and reducing public payments such as pensions bad for the economy?
A: Aggregate Demand refers to the total demand for all the goods and services produced in an economy.…
Q: You are the chief learning officer for your organization and are tasked with evaluating a recent…
A:
Q: Suppose that the rental rate on Capital equals k^1/2, and the wage rate equals 9. The firms…
A:
Q: Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per…
A: Total revenue is the product of quantity and price. This means the total revenue = Price ×…
Q: Given the demand function D(p) = 350 - 2p, Find the Elasticity of Demand at a price of $11 At this…
A: D(p) = 350-2p P = 11
Q: Write the payoff matrix (in dollars) for the coin-matching game between two players. If both coins…
A: A payoff matrix refers to a table that lists the choices accessible to game participants. It…
Q: Jane and Sam are the only two growers who provide organically grown tomatoes to a local supermarket.…
A: The given scenario is based on game theory which is concerned with the choice of an optimal strategy…
Q: To achieve full employment, an economy: would have everyone in the labor force employed. would have…
A: Unemployment rate is sum of structural unemployment rate, frictional unemployment rate and cyclical…
Q: .What trends or impending changes of Environmental Influences that are likely to take place in the…
A: Business should always understand the demand in the market and create value accordingly. This value…
Q: Section 3 looks at the balance of Neoclassical and Keynesian perspectives and discusses why we may…
A: Keynesian theory focuses on the economy in the short run and the GDP is determined by AD. According…
Q: Assume the Federal Reserve triples the growth rate of the quantity of money in circulation. In the…
A: When the supply of money in an economy increases, the demand for products and services rises. This…
Q: Question #1. Lisa's level of satisfaction for the consumption of apples at college is given by the…
A: Total utility shows the total satisfaction derived from consumption of good. Marginal utility shows…
Q: Airbus owns 2 plants and has contracted to produce 10 airplanes next year. The cost per airplane at…
A: As a cost minimization firm, the firm will allocate its production across 2 plants such that MC1 =…
Q: Which level of regional economic integration best describes the new free trade agreement in North…
A: A free-trade agreement or treaty is an agreement according to international law to form a free-trade…
Q: You expect interest rates to rise with upcoming inflation so you shorted (on margins) a US Treasury…
A:
Q: Seller ABC Corp. XYZ Inc. Acme Products Elite Establishments Cost $9,800 $11,000 $12,500 $15,000…
A: Given information, Seller Cost ABC Corp.…
Q: calculat
A: Money multiplier In fractional reserve system, money multiplier refers to the maximum amount of…
Q: . A company has a total sales revenue of 29 000 euros a month. The fixed costs of this company are…
A: Given information Total sales revenue=29000 per month Fixed cost=11400 per month Net income=4600 per…
Q: Which of the following statements is true for firms in monopolistic competition? O Firms face…
A: A monopolistic competitive market is the one which has many sellers selling differentiated goods.…
Q: 1. Consider a 3-consumer, 3-commodity exchange economy. Index the consumers as a, b, c and…
A:
Q: The size of the workforce has increased during the beginning of the pandemic (2020)
A: With the beginning of the pandemic in 2020, the size of the workforce decreased due to strict…
Q: Consider a quantity-setting duopoly. The two firms are Alpha, Ltd. and Beta, Inc. The demand…
A: In a Nash equilibrium, the best strategy of firms is determined. The Nash equilibrium is not always…
Q: A market where loans are made to borrowers a- Transaction costs b- Fiancial inventory c- Reserves d-…
A: Loans are the money lent by savers to borrowers.
Q: The Pizza company's franchisees pay a royalty to the company that is typically equal to 4.5% of the…
A: Given , Promotion price of pizza = 1 Cost of producing pizza = 1.1 Royalty paid = 4.5% of the…
Q: 1. An electronic device is available that will reduce this year's labor cost by $19443. The…
A: Given Labour Cost at Year 1 19443 Increases by 7% r 12% Bimonthly r 0.02
Q: How so gains in worker productivity lead to gains in per capita GDP? A. as workers produce, their…
A: The worth of the commodities and services that are produced after one hour of labour is calculated…
Q: 2. If, when the price of a product rises from GHc1.50 to GHc2, the quantity demanded of the product…
A: Elasticity of demand measures how much a good's demand alters as a result of modifications to its…
Q: Part III. Production and costs The short run production of a local firm is given as follows. Fill in…
A: Total Product refers to the total output produced by a firm by using given inputs. Average Product…
Q: Refer to Figure 17-5. Consider the Phillips curves shown in the above graph. We can conclude from…
A: Short run Philips curve shows inverse relationship between inflation and unemployment rate.
Q: 30. You borrowed $5000 from your friend and promised to pay her $6250 after 10 years. What simple…
A: The final amount paid is given by F=P(1+rt) F=Final Amount(=6250) P=Principal Amount(=5000) r=…
Q: What is the objective of a cartel? Question 7 options: joint profit maximization productive…
A: Cartels compete in the same industry and strive to minimise competition by setting prices in…
Q: Explain why the optimal stock of capital chosen by firms is such that the marginal productivity of…
A: Introduction Marginal Product of Capital refers to the change in the output produced by the company…
Q: 12. (Exhibit: Total Product) When hiring units of labor between zero and L1 units of labor, which of…
A: There are total three phases in Total product curve. These are :- a). Increasing return to scale…
Q: Which of the following is correct about double coincidence of wants a- economy with money use this…
A: Double coincidence of wants , as the name suggests , there should be two people and echa having the…
Q: 14. Suppose over the last ten years average hours per worker increased at 2 percent per year,…
A: GDP per capita indicates country's GDP by using the population and this is the main point here.…
Q: what are 5 factors of unemployment rate
A: When persons who are able and willing to do a job don't get a job, it is known as unemployment. It…
Q: Why is stagflation particularly damaging for an economy? Lowered competition for jobs hurts…
A: Stagflation refers to the ccombination of stagnation alomg with inflation in the economy which does…
Q: Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per…
A: In this problem you need to frame a linear constraint, given all the informations. The three…
Q: the and the I grade for a sample of college students in a general education courses at a large state…
A: a. Null Hypothesis(H0) : ρ=0 (No linear correlation) Alternative Hypothesis (H1) : ρ≠0 (Linear…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
- Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced five trucks, but then decided to increase production to six trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $160,000 to $120,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial five engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial five engines by selling at $120,000 rather than $160,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $120,000. PRICE (Thousands of dollars per fire engine) 220 200 180 160 140 120 100 80 60 40 0 Jabari 0 + 1 True…Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced five trucks, but then decided to increase production to six trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $160,000 to $120,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial five engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial five engines by selling at $120,000 rather than $160,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $120,000. PRICE (Thousands of dollars per fire engine) 220 200 180 160 140 120 100 80 60 40 20 Jabari 0 0 1 2 3…Asim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Asim initially produced eight trucks, but then decided to increase production to nine trucks. The following graph gives the demand curve faced by Asim's HookNLadder. As the graph shows, in order to sell the additional fire truck, Asim must lower the price from $80,000 to $40,000 per truck. Notice that Asim gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial eight engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial eight engines by selling at $40,000 rather than $80,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $40,000. PRICE (Thousands of dollars per fire engine) 220 Asim 200 180 160 140 120 100 80 60 40 20 0 0 1 True 2 False 4 5…
- Based on Zangwill (1992). Murray Manufacturing runs a day shift and a night shift. Regardless of the number of units produced, the only production cost during a shift is a setup cost. It costs $8000 to run the day shift and $4500 to run the night shift. Demand for the next two days is as follows: day 1, 2000; night 1, 3000; day 2, 2000; night 2, 3000. It costs $1 per unit to hold a unit in inventory for a shift. a. Determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. (Note: Not all shifts have to be run.) b. After listening to a seminar on the virtues of the Japanese theory of production, Murray has cut the setup cost of its day shift to $1000 per shift and the setup cost of its night shift to $3500 per shift. Now determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. Show that the decrease in setup costs has actually raised the average inventory level. Is this…Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced four trucks, but then decided to increase production to five trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $105,000 to $90,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial four engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000. PRICE (Thousands of dollars per fire engine) Jabari 165 150 135 120 105 90 75 60 45 30 15 D 0 True 1…Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced four trucks, but then decided to increase production to five trucks. The following graph gives the demand curve faced by Jabari’s HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $105,000 to $90,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial four engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000
- Suppose that the jackfruit industry is initially operating in long-run equilibrium at a price level of $5 per pound of jackfruit and quantity of 75 million pounds per year. Suppose a top medical journal publishes research that animal-alternative protein sources such as jackfruit could decrease your expected lifespan by 5 years. The publication is expected to cause consumers to demand jackfruit at every price. In the short run, firms will respond by Shift the demand curve, the supply curve, or both on the following graph to illustrate these short-run effects of the publication. 2 1 10 9 8 Supply Demand 0 0 + 15 30 45 60 75 90 105 120 135 150 QUANTITY (Millions of pounds) In the long run, some firms will respond by + 1 } Demand Supply until Shift the demand curve, the supply curve, or both on the following graph to illustrate both the short-run effects of the publication and the new long- run equilibrium after firms and consumers finish adjusting to the news. 2 1 10 9 Supply Demand B…Suppose that the jackfruit industry is initially operating in long-run equilibrium at a price level of $5 per pound of jackfruit and quantity of 100 million pounds per year. Suppose a top medical journal publishes research that animal-alternative protein sources such as jackfruit could increase your expected lifespan by 5 years. The publication is expected to cause consumers to demand jackfruit at every price. In the short run, firms will respond by Shift the demand curve, the supply curve, or both on the following graph to illustrate these short-run effects of the publication. PRICE (Dollars per pound) 10 9 8 7 65 -run effects of a shift in demand 2 0 0 20 40 Supply Demand 60 80 100 120 140 QUANTITY (Millions of pounds) 160 180 200 O Demand Supply ? t.Audio and hints Each spring, the town of Kitefield has a festival of kites. One year, newcomers arrive in Kitefield and establish a kite- production faality. Their presence shifts the supply curve to S2. As a result of the new competition, the Kitefield town council is concemed about a possible loss of income to the long-established kite makers in town. To protect their income, the council passes an ordinance forbidding the sale of kites at any price BELOW $18. Kite Demand and Supply Price 15 Floor 10 GID GS 200 00 400 200 Quantity of Kites 1. Analyze the effect of Kitefield's new ordinance or policy. a. Describe the type of policy enacted (Floor or Ceiling). b. Describe the problem it creates (Surplus or Shortages). C. Explain what causes the problem identified in part b d. Explain how the policy in part A caused the problem in part B Price per Kite
- Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced eight trucks, but then decided to increase production to nine trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $80,000 to $40,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial eight engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial eight engines by selling at $40,000 rather than $80,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $40,000. PRICE (Thousands of dollars per fire engine) 220 200 180 160 140 120 100 80 60 40 20 0 Jabari 0 1 O…George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he sold only 4,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2 -2.2 -2.6 -1.8 Suppose George's marginal cost is $5 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price was .Francine is a a dental floss tycoon living in Montana. She faces the following demand curve for her product: Price ( in $/unit) Quantity demanded 2.50 1000 2.20 2000 1.90 3000 1.60 4000 1.30 5000 1.00 6000 .70 7000 .40 8000 Francine has been told by her brother, who is currently taking a marketing class, that if she lowers her price by one increment(for example; changing price from .70 to .40, or raising price from .40 to .70) she will capture market share and increase total revenue. All of her advisors within the company have assured Francine that her brother's advice may be correct, BUT the above demand curve will not change. Assume that Francine knows the above demand curve will not change and is also considering her brother's advice. The prices can only…