The model of competitive markets relies on these three core assumptions:
1. There must be many buyers and sellers-a few players can't dominate the market.
2. Firms must produce an identical product-buyers must regard all sellers' products as equivalent.
3. Firms and resources must be fully mobile, allowing for free entry into and exit from the industry.
The first two conditions imply that all consumers and firms are price takers. While the third is not necessary for price-taking behavior, assume for this problem that a market cannot maintain competition in the long run without free entry.
Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not.
Scenario Competitive
1. Several stores in the mall sell hooded sweatshirts. Each store's sweatshirts reflect the style of that particular store. Additionally, some stores use higher-quality cotton than others, which is reflected in the apparel's prices.
2. In a small town, there are two providers of broadband Internet access: a cable company and the phone company.
The Internet access offered by both providers is of the same speed.
3. There are hundreds of high school students in need of algebra tutoring services in Dallas.
4. Dozens of companies offer tutoring services, and the parents who seek out tutors view the quality of the tutoring at the different companies to be largely the same.
5. The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm permitted to sell the drug.

Answers

Answer 1

Answer:

Following are the solution to the given points:

Explanation:

For point 1:

No, not the same thing Because the product is not the same, the marketplace is monopolistic and not completely competitive.

For point 2:

No, not a bunch of salespeople Because the product is the same any maker wishes to enter into the market, the competitive market also does not mean that only two vendors and not so many sellers present in the market.

For point 3 and 4:

Yes, it is aggressive algebra upon on market Same students and several teaching qualities everywhere.

For point 5:

No, no free admissionm, it was not a regulated business. The rationale would be that the entrance to the market via patent rights is restrained by the state.


Related Questions

Matching Items Reported to Cash Flow Statement Categories (Indirect Method).
Adidas AG is a global company that designs and markets sports and fitness products, including footwear, apparel, and accessories. Some of the items included in its recent annual consolidated statement of cash flows presented using the indirect method are listed here. Indicate whether each item is disclosed in the Operating Activities, Investing Activities, or Financing Activities section of the statement or use Not Applicable if the item does not appear on the statement. (Note: This is the exact wording used on the actual statement).
1. Dividends paid.
2. Repayments of short-term borrowings.
3. Depreciation and amortization.
4. Proceeds from reissuance of treasury shares to employees.
5. [Change in] Accounts payable and other liabilities.
6. Cash collections from customers.
7. Purchase of investments.
8. Net income.
9. Purchase of property, plant, and equipment.
10. Increase in receivables and other assets.

Answers

Answer:

1. Dividends paid.

Classification: Financing Activity

2. Repayments of short-term borrowings.

Classification: Financing Activity

3. Depreciation and amortization.

Classification: Operating Activities

4. Proceeds from reissuance of treasury shares to employees.

Classification: Financing Activity

5. Change in Accounts payable and other liabilities.

Classification: Operating Activities

6. Cash collections from customers.

Classification: Not Applicable

7. Purchase of investments.

Classification: Financing Activity

8. Net income.

Classification: Operating Activities

9. Purchase of property, plant, and equipment.

Classification:  Investing Activities

10. Increase in receivables and other assets.

Classification: Operating Activities

What is the weighted average cost of capital if a business has a cost of equity of 11%, a yield on debt of 6%, a tax rate of 30%, 100 million market value of debt, and 250 million market value of equity

Answers

Answer:

9.028 %

Explanation:

weighted average cost of capital = cost of equity x weight of equity + cost of debt x weight of debt

where,

cost of equity = 11 %

cost of debt (consider after tax) = 6% x (1 - 0.30) = 4.20 %

weight of equity = 250 million ÷ 350 million = 0.71

weight of debt = 100 million ÷ 350 million = 0.29

therefore,

weighted average cost of capital = 11 % x 0.71 + 4.20 % x 0.29

                                                       = 9.028 %

If Hilltop Turf Farm’s total cost of producing acres of sod is TC = 0.2 Q 2 + 120 Q + 5,000, the marginal cost of producing the 50th acre of sod is:

Answers

Answer: $140

Explanation:

Based on the information given in the question, the marginal cost of producing the 50th acre of sod will be:

TC = 0.2Q² + 120Q + 5000

The marginal cost will be:

= dTC / dQ

= 0.4Q + 120

Then we put the value of Q = 50 into the equation and this will be:

MC = 0.4Q + 120

MC = (0.4 x 50) + 120

MC = 20 + 120

MC = 140

Product K has a unit contribution margin of $120. Product L has a unit contribution margin of $100. Product K requires five furnace hours, while Product L requires four furnace hours. Determine the most profitable product, assuming the furnace is a bottleneck constraint.

Answers

Answer: Product L is more profitable

Explanation:

The unit contribution margin per production of product K per bottleneck hour will be:

= $120/5

= $24

The unit contribution margin per production of product L per bottleneck hour will be:

= $100/4

= $25

Product L is more profitable as it gives a profit of ($25 - $24) = $1 more than product K

On January 1, 2013, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,546. During the first 11 months of the year, bad debts expense of $21,399 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2013, was $9,859. Required: (a) What was the total of accounts written off during the first 11 months

Answers

Answer: $25,086

Explanation:

The bad debt written off is calculated by:

= Opening balance in Allowance for bad debts account + Bad debt expense - Closing balance in Allowance for bad debt

= 13,546 + 21,399 - 9,859

= $25,086

Windhoek Mines, Ltd., of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the company has mineral rights. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with opening and operating a mine in the area: Cost of new equipment and timbers $ 370,000 Working capital required $ 115,000 Annual net cash receipts $ 130,000 * Cost to construct new roads in year three $ 43,000 Salvage value of equipment in four years $ 68,000 *Receipts from sales of ore, less out-of-pocket costs for salaries, utilities, insurance, and so forth. The mineral deposit would be exhausted after four years of mining. At that point, the working capital would be released for reinvestment elsewhere. The company’s required rate of return is 18%. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: a. What is the net present value of the proposed mining project? b. Should the project be accepted?

Answers

Answer:

Windhoek Mines, Ltd., of Namibia

a. The net present value (NPV) of the proposed mining project is:

= -$117,258

b. No. The project should be rejected.  It has a negative NPV.

Explanation:

a) Data and Calculations:

Cost of new equipment and timbers = $370,000

Working capital required = $115,000

Cost to construct new roads in year three = $43,000

Annual net cash receipts = $130,000

Salvage value of equipment in four years = $68,000

Company's  required rate of return = 18%

Mining duration = 4 years

Annuity factor for 4 years at 18% = 2.1690

Relevant discount factors at 18%:

Year 3 = 0.712

Year 4 = 0.636

Present values of Cash Flows:

Transaction                                             Cash Flows  PV Factor  PV Amount

Cost of new equipment and timbers      $370,000    1.000       -$370,000

Working capital required                             115,000    1.000          -115,000

Cost to construct new roads in year three 43,000    0.712            -30,616

Annual net cash receipts                           130,000    2.169           281,970

Salvage value of equipment in four years 68,000   0.636             43,248

Working capital released                           115,000    0.636             73,140

Net present value                                                                         -$117,258

Why is keeping a journal about what is good and bad regarding your summer or part-time work a good idea to help you choose a career path

Answers

The correct answer to this open question is the following.

Keeping a journal about what is good and bad regarding my summer or part-time work is a good idea to help me choose a career path because writing down what I like and what I dislike, I can get a pretty close idea of the things I enjoy and have more skills to perform, compared to the things I do not like or I have no abilities at all.

If a clearly identify my skills and abilities in the workplace during the summer, it will be easier for me to identify what could be the profession I love or at least, what I am attracted to.

As it is difficult to remember all the work experience by memory, writing the journal will help me to remember exact dates, specific activities that I enjoyed or were interesting, and what was not.

If a firm has invested in corporate bonds, it may engage in a financial futures contract in order to protect itself from :___________

a. declining interest rates.
b. rising interest rates.
c. inflation.
d. changes in hedging activities.

Answers

Answer:

b. rising interest rates.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (creditor or investor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time.

Generally, the bond issuer is expected to return the principal at maturity with an agreed upon interest to the bondholder, which is payable at fixed intervals.

The par value of a bond is its face value and it comprises of its total dollar amount as well as its maturity value. Also, the par value of a bond gives the basis on which periodic interest is paid. Thus, a bond is issued at par value when the market rate of interest is the same as the contract rate of interest. This simply means that, a bond would be issued at par (face) value when the bond's stated rated is significantly equal to the effective or market interest rate on the specific date it was issued.

In Economics, bonds could either be issued at discount or premium.

Generally, if a business firm has invested in corporate bonds, it may engage in a financial futures contract in order to protect itself from rising interest rates.

g The fundamental limitation of a matrix structure is that it ________. A. introduces more errors in the decision-making process due to the speed of the process B. institutes a dual hierarchy that violates the unity-of-command principle C. isolates upper management from operational levels D. creates a poor organizational culture

Answers

Answer:

The correct answer is the option B: Institutes a dual hierarchy that violates the unity-of-command principle.

Explanation:

To begin with, in the business management field the concept known as "Matrix structure" or matrix management as well is refered to the dynamic way of organizating the company that has the characteristic of having the employees of the business answering directly to two or more superiors of leaders instead of just one. Therefore that in this type of organizational structure sometimes the matters of certain departments tend to interfere or collide with the objectives of others. That is the main reason why it does violates the principle of unity-of-command described in the organizational theory.

A TV manufacturing company uses speakers at the rate of 8000/mo. When it places an order for speakers it incurs a fixed cost of $1200. The monthly interest rate for keeping a speaker in stock is assessed at 1%/mo. The cost of the speaker depends on the order size. If less than 1000 speakers are ordered the cost is $11 each. When the order size is between 1000 and 10,000 the cost is $10.50/unit. For order sizes between 10,000 and 30,000 the cost is $10 per unit. For order quantities between 30,000 and 80,000 the cost drops to $9.50. Beyond 80,000 the cost is $9.25. Determine the optimum order size and time between orders if shortages are not allowed.
Please use excel to solve this problem. Show all cell formulas and parameters used.

Answers

Solution :

1. Ordering quantity         500      1000      10000     30000        80000

2. No. of orders                 16          8             0.8         0.27            0.1

3. Average inventory        250      500       5000      15000        40000

4. Value of average         2750    5250      50000  142500      370000

   inventory

5. Monthly total cost

a). Cost of material        88000   84000    80000   760000     740000

b). Ordering cost           19200      9600       960          320           120

c). Carrying cost                27.5       52.5       500        1425         3700

Total monthly cost        107227.5 93652.5  81460   77745       77820

Among the total monthly cost, $ 77,745 is the least cost.

Therefore, the optimum order size of quantity = 30,000

The number of orders per month = 8000/30000 = 0.267

Time between two consecutive orders = 30000/8000 = 3.75 months

     

A vendor sells hot dogs at $17.00 /piece. For every hot dog he spends $11.23 in the raw material. Additionally he spends $0.90 for packing each hotdog and monthly $46.00, $25.00, $13.00 as food truck rent, electricity and other expenses respectively. How much is the vendor contributing to covering his fixed costs or generating profits

Answers

Answer: $4.87

Explanation:

The question is asking for the Contribution margin which is the amount left of the selling price after the variable costs have been deducted.

Contribution margin = Selling price - variable costs

= Selling price - Raw materials - packing costs

= 17 - 11.23 - 0.90

= $4.87

The Cherrywood Fine Furniture Company finds itself with excess capacity in its plant and equipment for furniture manufacturing. This excess capacity will be useful in Group of answer choices

Answers

Answer: related diversification project

Explanation:

Related diversification simply means the scenario whereby a firm moves into a new industry which possesses vital similarities with the existing industry of the firm.

In this case, since Cherrywood Fine Furniture Company has excess capacity in its plant and equipment for furniture manufacturing, then this can be used for related diversification project.

Nadal Inc. had two temporary differences at the end of 2013. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Nadal's accounting department has developed a schedule of future taxable and deductible amounts related to these temporary differences as follows:
Taxable amounts:
2014 $40,000
2015 $50,000
2016 $60,000
2017 $80,000
Deductible amounts:
2014 $0
2015 $(15,000)
2016 $(19,000)
2017 $0
As of the beginning of 2013, the enacted tax rate is 34% for 2013 and 2014, and 38% for 2015-2018. At the beginning of 2013, the company had no deferred income taxes on its balance sheet. Taxable income is expected in all future years.
A. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2013.
B. Indicate how deferred income taxes would be classified on the balance sheet at the end of 2013.

Answers

Answer:

72,880

Explanation:

Given:

Taxable amounts are as follows,

2014$40,000

2015$50,000

2016$60,000

2017$80,000

Deducible amounts are as folllows,

2014$0

2015$(15,000)

2016$(19,000)

2017$0

Solution:

Taxable amount is as follows,

2014$40,000-34%-13,600

2015$35,000-38%-13,300

2016$41,000-38%-15,580

2017$80,000-38%-30,400

Therefore the deferred liability 72,880

To income tax provision 72,880

This would be shown as deferred tax liability under the long term liabilities head with amount of $72,880

A trademark is a device that can take almost any form as long as it is capable of identifying and distinguishing specific products or services. Owens-corning fiberglas corporation's trademark is an example of a poduct that is protected by:__________

a. combination of letters and designs.
b. product shape.
c. picture.
d. logo.
e. color.

Answers

Answer:

E)color

Explanation:

Trademark can be regarded as one of intellectual property, it can be explained as recognizable insignia, symbol as well as phrase and word, which denotes a particular product and it's one that legally differentiates that particular Product from all other products of its kind. A trademark can also be regarded as one that exclusively identifies a product and allow the consumer to know specific company it belongs to and also allows them to know company that have the ownership of the brand.

It should be noted that trademark is a device that can take almost any form as long as it is capable of identifying and distinguishing specific products or services.

For instance Owens-corning fiberglas corporation's trademark is an example of a poduct that is protected by logo.

Lãi suất tiền gửi và cho vay của Việt nam hiện tại là bao nhiêu?

Answers

Answer:

?????

Explanation:

Identify the following is structural, frictional, cyclical and seasonal employment.

a. Andrew recently lost his job as an accountant for a large firm because he only knows how to perform the job using a general ledger (paper and pencil), and has been unwilling to learn how to use newly invented accounting software provided by the company.
b. Sam recently lost his job as an accountant for a large firm because he only knows how to perform the job a using a general ledger and has been unwilling to learn how to use newly invented accounting software provided by the company.
c. Teresa just graduated from college and is looking for a full time position with an investment banking firm.
d. A recent recession has reduced the number visitors to a local theme park. The park has had to lay off many of its employee, including Beth.

Answers

Answer:

Frictional unemployment occurs when people decided to leave their jobs and look for another or people join the labor force for the first time.

Structural unemployment arises from a situation where there is a mismatch between the skills needed in an economy and the skills possessed by people. Happens a lot when employees need to adapt to new technology.

Cyclical unemployment happens as a result of the economy either growing or shrinking.

a. Andrew recently lost his job as an accountant for a large firm because he only knows how to perform the job using a general ledger (paper and pencil), and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ STRUCTURAL UNEMPLOYMENT.

b. Sam recently lost his job as an accountant for a large firm because he only knows how to perform the job a using a general ledger and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ STRUCTURAL UNEMPLOYMENT.

c. Teresa just graduated from college and is looking for a full time position with an investment banking firm. ⇒ FRICTIONAL UNEMPLOYMENT.

d. A recent recession has reduced the number visitors to a local theme park. The park has had to lay off many of its employee, including Beth. ⇒ CYCLICAL UNEMPLOYMENT.

Axis Pvt. Ltd., an international financial services firm, assigns projects to employees in different nations. Since these multinational projects and careers provide employees with global exposure, they are more than willing to cooperate. With regard to organizing a multinational company, which of the following internal factors has been covered in this example?
A. Structure.
B. People.
C. Culture.
D. Management.

Answers

Answer: B. People

Explanation:

The people who work in a company are a very important internal factor because their work makes or breaks a company. When the company does something that can be expected to improve the efficiency of its workers, it is said to be investing in its people.

In the above, Axis is sending workers around the world which is giving these workers much needed exposure. In this day and age where globalization is everything, skills gained from being exposed to different nations are very important and can make workers more efficient.

A​ firm's marginal product of labor is 4 and its marginal product of capital is 5. If the firm adds one unit of labor but does not want its output quantity to​ change, the firm should A. add 1.25 units of capital. B. use 1.25 fewer units of capital. C. use 0.8 fewer units of capital. D. use 5 fewer units of capital.

Answers

Answer: C. use 0.8 fewer units of capital.

Explanation:

The Marginal Rate of Technical Substitution (MRTS) shows how much you can decrease capital or labor by in order to keep production constant if you increase either capital or labor.

It is calculated by the formula:

= Marginal product of labor  / Marginal product of capital

= 4 / 5

= 0.8

The firm should use 0.8 fewer units of capital in order to maintain the same production level.

Melvin begins his retirement fund at age 30, depositing $1,000 per month until age 50. Cindy begins her retirement fund at age 20, depositing the same $1,000 per month amount until age 50. Both Melvin and Cindy earn 5 percent annual interest on their funds, and there are no tax considerations in this problem. Based on the provided information :____________
a) and assuming they retire at age 50, Cindy will have less than 50 percent more than Melvin
b) and assuming they retire at age 50. Cindy will have exactly 50 percent more than Melvin.
c) and assuming they both retire at age 60. Cindy will have less than Melvin.
d) the difference between the two will get larger with higher inflation
e) and assuming they retire at age 50. Cindy will have over 50 percent more than Melvin.

Answers

Answer: D. and assuming they retire at age 50, Cindy will have over 50% more than Melvin

Explanation:

Since Melvin begins his retirement fund at age 30, depositing $1,000 per month until age 50 while Cindy begins her retirement fund at age 20, depositing the same $1,000 per month amount until age 50 with a 5% annual interest on their funds, then we can deduce that if they retire at age 50, Cindy will have over 50% more than Melvin.

Therefore, the correct option is D.

The cost components of a heater include $38 for the compressor, $14 for the sheet molded compound frame, and $70 per unit for assembly. The factory machines and tools cost is $53,000. The company expects to produce 1,400 heaters in the coming year. What cost function best represents these costs

Answers

Answer: y = 122x + 53,000

Explanation:

The cost function takes the form, y = mx + c

Y = total cost

m would be the variable cost because it is the increase in x

x = total number of units to be produced

c = fixed cost because this is the y intercept and represents an amount that will not change regardless of the change in x

Variable cost = compressor + compound frame + assembly

= 38 + 14 + 70

= $122

Fixed cost = $53,000

Cost function is:

y = 122x + 53,000

Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 16, it paid the full amount due. The amount of the cash paid on August 16 equals:___.
A. $8, 167.50.
B. $9, 652.50.
C. $9, 750.00.
D. $8, 250.00.
E. $8, 152.50.

Answers

Answer:

A. $8, 167.50

Explanation:

The fact Juniper company returned $1,500 worth of merchandise, means that it is only obliged to pay the amount of $8,250($9,750-$1,500).

However, the payment was made on 16th August, which is the discount period of 10 days, hence, the cash paid on August 16 is computed thus:

cash paid=amount of merchandise owed*(1-discount rate)

discount rate=1%(1% discount if payment is made within 10 days of the purchase date)

cash paid=$8,250*(1-1%)

cash paid=$ 8,167.50  

Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.32 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $1.735 million in annual sales, with costs of $650,000. The project requires an initial investment in net working capital of $250,000, and the fixed asset will have a market value of $180,000 at the end of the project. The tax rate is 21 percent.
a) what is the projects year 0,1,2,3 net cash flow?
b) if the required return is 12 percent, what is the project's NPV?

Answers

Answer:

Quad Enterprises

a. The project's net cash flow:

Year 0    -$2.32 million

Year 1     $857,150

Year 2    $857,150

Year 3    $857,150

b. The project's NPV is -$261,126

Explanation:

a) Data and Calculations:

Initial cost of investment in fixed asset = $2.32 million

Estimated annual sales = $1,735,000

Estimated annual costs =     650,000

Before-tax income           $1,085,000

Company tax (21%)               227,850

Net income/cash flow        $857,150

a. The project's net cash flow:

Year 0    -$2.32 million

Year 1     $857,150

Year 2    $857,150

Year 3    $857,150

b. The project's NPV, if the required return is 12%:

Period    Cash Flows          

Annuity Factor for 3 years at 12% = 2.402

Year 0    -$2.32 million    -$2.32 million

Year 1     $857,150

Year 2    $857,150

Year 3    $857,150           $2,058,874 ($857,150 * 2.402)

NPV =                               -$261,126

Two years ago, Global Airlines sold a $250 million bond issue to finance the purchase of new jet airliners. These bonds were issued in at par value with an original maturity of 12 years and a coupon rate of 12%. Determine the value today of one of these bonds to an investor who requires a 14% rate of return on these securities. Is it a discount or premium bond and why

Answers

Answer:

$897

Explanation:

Calculation to determine the value today

Using Financial calculator to determine the Present value (PV)

N = (12- 2) = 10 years

I = 14%

PMT =12%*1,000=120

FV = $1000

PV=?

Hence;

PV = $896.68

PV=$897 (Approximately)

Therefore the value today is $897

A car dealer acquires a used car for $14,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include
$250 for transportation-in.
$300 for shipping insurance.
$900 for car import duties.
$150 for advertising.
$1,250 for sales staff salaries.
$180 for trimming shrubs.
For computing inventory, what cost is assigned to the used car? Included in Inventory Cost Expensed as incurred Cost 14.000 900 Cost Transportation in Import duties Insurance during shipment Advertising Sales staff salaries 300 150 1,250 16.850S 0 $

Answers

Answer: $15,450

Explanation:

The inventory cost of the car is every cost that was incurred to get it to the car dealer and ready for sale.

Total inventory cost assigned is:

= Cost of car + transportation-in + shipping insurance + car import duties

= 14,000 + 250 + 300 + 900

= $15,450

Seeing his son graduate from college is most likely a short-term goal for a
person of which of these ages?
A. 8 years old
B. 58 years old
C. 28 years old
D. 18 years old

Answers

The answer is c 28 years old

A rock group assigns its payment under a performance contract to the Costume Shop, a business that has supplied the group with outrageous stage outfits, and to which the group owes a great sum of money. Under this arrangement the rock group is the a. delegator. b. delegatee. c. assignee. d. assignor.

Answers

Answer:

Rock Group and Costume Shop

Under this arrangement the rock group is the

d. assignor.

Explanation:

The rock group, as the  assignor, is the entity that transfers its property rights or its powers to payment to Costume Shop.   The Costume Shop is the assignee because it is the entity to which property rights or powers to payment of the rock group are transferred.  Under the performance contract, the rock group can also be described as the delegator while the Costume Shop is the delegatee.  However, under payment terms, the rock is the assignor while the Costume Shop is the assignee.

Joshua has been working as a project manager in an information technology company for three years. Martha is a delivery team lead in the same company. When the company receives a project that has to be completed in a short span of time, Joshua decides to increase the daily work hours of the delivery team to accommodate the project. Martha, however, insists that Joshua request the client for a time extension. Not willing to reach an agreement, Joshua and Martha ignore each other's opinions and begin working on the project individually. Which of the following conflict-handling intentions does this scenario portray? Collaborating Accommodating Avoiding Compromising

Answers

The conflict-handling deals with collaborating

Suppose the economy is in long-run equilibrium. Concerns about pollution cause the government to significantly restrict the production of electricity. At the same time, the value of the dollar falls. What would we expect to happen in the short run?
a. The price level will rise, and real GDP might rise, fall, or stay the same.
b. The price level will fall, and real GDP might rise, fall, or stay the same.
c. Real GDP will rise, and the price level might rise, fall, or stay the same.
d. Real GDP will fall, and the price level might rise, fall, or stay the same.

Answers

Answer:

the price level will rise, and real GDP might rise, fall, or stay the same.

Explanation:

Short run

In microeconomics, it is simply defined as the timeframe when all resource prices (including wages) are constant not changing.

Long run

This is also known as the period of time when all resource prices (including wages) change/is altered or do not remain the same.

Long-run equilibrium can change with constant long run aggregate supply (LRAS) and potential output thereby leading to changes only in the price level and this can cause inflation. Due to the changing LRAS, causing an increase in potential output leading to economic growth or decreasing potential output leading to negative growth.

A young college student on a tight budget is campaigning for an open city council seat. A friend in her economics class estimates that voters are influenced by TV and newspaper ads according to the following function: Votes = 300TV0.6 NP0.2, where TV represents the number of television ads and NP represents the number of newspaper ads. Thus, the marginal product of a newspaper ad is 60TV0.6 NP–0.8 and the marginal product of a TV ad is 180TV–0.4 NP0.2. A local television ad costs $400, and a local newspaper ad costs $250. If the candidate needs 1,800 votes to win, what is the lowest-cost combination of newspaper and TV ads that will bring her victory?

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Answer:

Explanation:

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If a company has discriminated against minorities in the past, should it be required to give priority to minority applicants today? Why or why not?

Answers

Answer:

The description as per the given statement is summarized in the below segment.

Explanation:

There should priorities immigrants, although it has its inherent consequences since it damages the morality of all other project teams and thereby discourages them.This would also dissuade customer prejudice from purchasing the merchandise of the company and then so this might not be beneficial to priorities it.
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