Economics question and answers for July 01, 2023
- Q In the short run, under what conditions should the firm shutdown?a. average total cost at the minimum pointb. price greater than average variable costc. price less than average variable costd....
- Q Argue AND DefendCensorship restrictions in other countries on suchinformation technology as Google and other Web sites isjustifiable; U.S. and other western nations should not try toimpose their values and norms...
- Q How can the government affect productivity?
- Q If the Phillips curve is usually correct, then an increase inoutput and a corresponding decrease in unemployment would beunusual.Select one:TrueFalseThe correlation between unemployment and inflation can beexplained by upward pressure...
- Q Suppose the Phillips curve is correct. If the governmentincreases taxes, then aggregate demand decreases and unemploymentfalls in the short runSelect one:TrueFalseAccording to the long-run Phillips curve, in the long run,unemployment...
- Q Chinese consumers are increasingly being influenced by videobloggers, columnists, and photobloggers on social media platformsincluding Instagram, WeChat and Weibo. Becky Li, with more than 7.5million combined followers on WeChat and...
- Q f you were summarizing the history of the 18th century Atlanticworld (i.e.: the century from 1700-1800) to a friend or familymember, what would you highlight as being the 3 most...
- Q Graphically explained equilibrium unemployment anddisequilibrium unemployment- The write up shouldn't be more than two pages
- Q The inverse market demand curve is P = 170 – 4Q. Two firms inthis market are evenly splitting the output. Each firm produces theproduct at a constant marginal cost of...
- Q Exercise 1. Firm Supply in the Short RunConsider a firm with the following production function:y=L½K½. The cost function is C=w∙L+r∙K.In the short-run the input K is given at K=100. What...
- Q Question 1) In table 1, Calculate the marginal product of laborand average product of labor.Table 1: Surfboard ProductionLabor(workers per week)Total Product(surfboards per week)Marginal ProductAverage product00--13027031204160519062107220Question 2) Surfboard Production Costs  Labor(workers per...
- Q Explain the relationship between public finance and marketfailure.
- Q Discuss the growing income inequality in the U.S. and the worldwith someone mature enough to have some perspective from experienceabout it. Ask them what they think about the widening gap...
- Q (a) Does the assumption of diminishing marginal product of aninputs x1 and x2 imply strictlyconvex isoquant curves?(b)Does the assumption of strictly convexity in the isoquantcurves imply diminishing marginal products to...
- Q The corona virus pandemic has been, and will be, very costly tofederal, state, and local governments as well as to businesses andto consumers. According to the Congressional Budget Office(2020):CBO expects...
- Q “To ring in the 10th anniversary of the iPhone, Apple onTuesday is delivering a handful of new smartphones that won’t justchallenge your daily tech habits—no more home button!—but lightenyour bank...
- Q Either graphically or descriptively, describe how an individualfirm in a perfectly competitive market with other identical firmsresponds to an inward shift (decrease) in the demand curve fortheir product and the...
- Q Assuming that a responder in the ultimatum game hasFehr-Schmidt inequity aversion utility, and the responder Isindifferent between accepting and rejecting a proposal to get $1while the proposer keeps $9, find...
- Q Exercise 4. Cost Minimization Short and Long Run (Minimum WageWorkers)McDonald’s employs minimum wage workers operating registers totake orders. Let y be the output of orders taken in an hour, L...
- Q Exercise 2. Two plantsA firm has two plants, both with increasing marginal costs.Plant 1 is more efficient than plant 2. Specifically, the costfunction in plant 1 isc1(y1)=2y12, while thecost function...
- Q A major industrial firm desires an economic analysis todetermine which of two different machines should be purchased. Eachmachine is capable of performing the same task in a given amount oftime....
- Q Many people in the small town of Econville have complained thatthere is no park for children to use afterschool. There are 20households in the town, 10 who have children and...
- Q Problem 1) Today, April 1st 2020, I put $1000 intothe bank. Every month thereafter I added the same amount, plus $20more than the month before (i.e. $1020, $1040, $1060, etc.)...
- Q What is your main takeaway from Circular Economics and DoughnutEconomics?
- Q Should a defense attorney be allow to use insanity as adefense for murder? Is this defense strategy overused? Provide anexample of a crime in which the “act†is visible but...
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