Please advise of the step I need to take to solve this? A researcher estimated that the price elasticity of demand for automobiles in the United States is −1.2, while the income elasticity of demand is 3.0. Next year, U.S. automakers intend to increase the average price of automobiles by 5 percent, and they expect consumers’ disposable income to rise by 3 percent. (a) If […]
Choose one or more: A.The market will become more competitive and the price will rise. B.Individual sellers will have more control over the market. C.The market will become more competitive and the price will fall. D.There will be a greater quantity of mobile phones available in the market. I am thinking it is C- As competition increase, prices fall. D- Increase supplier increase the quality […]
Prepare a 12- to 16-slide presentation for the 2 economies assigned to your team. Except for Team A, each pair of economies has 1 very successful country and 1 not so successful country. Team 1: NAFTA vs European Union (world’s 2 largest economic entities) Team 2: China vs India (world’s 2 most populous countries) Team 3: South Korea vs North Korea (2 polar economic opposites, […]
IT DOES NOT MATTER WHAT TOPIC YOU CHOOSE !!!!! https://docs.google.com/document/d/1UekKyhYuaKmJnSh9PQ24-zqI8ABdolotseK4O_RXTzk/edit?usp=sharing
This was a question on a microeconomics quiz. Can someone help me with the formula on how to reach this answer. Any help would be great. Amy purchased 4 cantaloupes at $2 per cantaloupe and 3 watermelons at $4 per watermelon. If Amy is following the optimal consumption rule, the marginal utility of the fourth cantaloupe and third watermelon are: The correct answer was: 12 […]
If Best Lights and Bright Lights are competing in a duopoly and it is always best for Best Lights to charge a price of $4 regardless of the price Bright Lights charges, then charging $4 is ________ for Best Lights.
The production function is q=2√KL. The rental of K is $1, and the wage of L is $1. Draw the long run expansion path. When q=100, what are the values of K and L? The values of total cost and average total cost? How will technical progress to q=25√KL affect the long run expansion path? The total cost of q=100? Average total cost when q=100? […]
2. From the following payoff matrix, where the payoffs are the prof ts or losses of the two firms, determine (a) whether firm A has a dominant strategy, (b) whether f rm B has a dominant strategy, (c) the optimal strategy for each firm, and (d) the Nash equilibrium, if there is one.Firm BHigh Price(3, 21)Firm A(4,2)* 2(d), Yes, there is a Nash equilibrium, please […]
For each of the following utility functions over X = R 2 +, plot three indifference curves by hand, shade in an upper contour set, and identify whether the preference relation represented by the utility function is convex and monotone. 1. U(x) = x12 + x22 2. U(x) = x1 + 3×2
Exercise 2) Depreciation:The following data for a machinery is available:Purchase price (incl. 20%VAT) 360 000 EURSalvage value (excl VAT) 10 000 EURuseful life 7 years(=estimated service life)production capacity 580 000 hours1st year: production (2006) 120 000 hours2nd year: production (2007) 160 000 hours3rd year: production (2008) 130 000 hours4th year: production (2009) 80 000 hours5th year: production (2010) 50 000 hours6th year: production (2011) 40 […]
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more