Economics Homework Help

Economics Homework Help. olliWhen two countries trade, each one can specialize and make the combined output higher which

When two countries trade, each one can specialize and make the combined output higher which

expands consumption possibilities of both the countries.” Do you agree? a. What is Terms of Trade? How is it computed? provide with an example.b. What is Comparative Advantage? elaborate with an example of a two-country and two-commodity model

The gains from specialization and trade rely upon the example of near, not supreme,advantage. I concur just as differ as it is reliant on the example of near favorable positionbetween the two…

Economics Homework Help

Economics Homework Help

Economics Homework Help. Week 4 Discussion Collapse The Constant Fight for Profitability: Market Structure and Porter’s Five Forces What is market structure and what is Porter’s Five Forces? Here is some help. https://cdnap

Week 4 Discussion

Collapse

The Constant Fight for Profitability: Market Structure and Porter’s Five Forces

What is market structure and what is Porter’s Five Forces?  Here is some help.  https://cdnapisec.kaltura.com/index.php/extwidget/preview/partner_id/956951/uiconf_id/38285871/entry_id/0_omjj8t4r/embed/dynam

ic 

Select a monopolistic competitive firm and an oligopoly firm. Then apply Porter’s five forces and compare:

1) What are the challenges to profits faced by each firm?

2) Which firm is likely to have a much higher rate of return?

3) What challenges to profits arise due to supply chain and intermediary consumers such as processors and distributors?

Economics Homework Help

Economics Homework Help

Economics Homework Help. Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas

Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas

stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline will increase even further due to increasing high demand from India and China. Besides, Cousin Edgar thinks he will make a good profit on the sale of convenience items at each station. But before buying the gas stations, he decides to ask for your advice since you are taking this course in Business Economics.

You recall reading about making pricing decisions for gasoline on pages 173-174 of the textbook. You also recall reading about perfectly competitive markets in Chapter 12, and the need for differentiation in Chapter 13. Being skeptical of Cousin Edgar’s optimism on the profitability of selling gasoline and convenience items, you decide to research the market in terms of supply and demand, elasticity, costs of production, pricing, and normal profit. You want to provide Cousin Edgar with the most informed advice possible.

Economics Homework Help

Economics Homework Help

Economics Homework Help. ease answer questions2a through2f. Please show your calculations and your work. Consider the following table

ease answer questions 2 a through 2f. Please show your calculations and your work. Consider the following table

below. Joe and Catherineproduce any of the following combinations of cookies and pies.

     Joe                     Catherine

Cookies   Pies                Cookies  Pies

0        30                   0         20

10      24                   10       16

20      18                   20      12

30      12                   30      8

40      6                   40      4

50        0                     50       0

2a. What is the opportunity cost to Joe forproducing one pie? 

2b. What is the opportunity cost to Joe for producing one cookie?

2c. What is the opportunity cost to Catherine for producing one pie?

2d. What is the opportunity cost to Catherine for producing one cookie?

2e. Who has a comparative advantage in the production of pies? Who has a comparative advantage in the production of cookies? 

2f. Explain why Joe and Catherine can be made better off through specialization and trade.

Economics Homework Help

Economics Homework Help

Economics Homework Help. Assignment 1: Maximizing Profits and Minimizing LossesConsider a supplier of agricultural

Assignment 1: Maximizing Profits and Minimizing Losses

Consider a supplier of agricultural

equipment who is deciding how much of two products should be produced by his firm. You determine what the two products are.

Now create a report that includes a discussion and analysis regarding how such a supplier makes such a determination in order to maximize the firm’s profits. Include in your response:

  • A discussion of exactly what costs are associated with profit maximization.
  • A discussion of the concept of “opportunity cost.”
  • A discussion of the alternative production opportunities.
  • A discussion of the various constraints which firms face in maximizing their economic profit.

In responding to this assignment, quotations, paraphrases, and ideas you get from books or other sources of information should be cited using APA style.

Economics Homework Help

Economics Homework Help

Economics Homework Help. A. Compute total revenue for each level of output. Fill in the table.B. Compute average and

A. Compute total revenue for each level of output. Fill in the table.

B. Compute average and

marginal revenue for each level of output. Fill in the table. (Remember to compute marginal revenue between successive level of output.)

C. Explain why for a perfectly competitive firm, AR = MR= p.

D. Plot the TR,MR, AND AR curves on a scale diagram. What is the slope of the TR curve?

Consider the following table showing the various rev -ence concepts for Dairy Treat Inc ., a perfectly competi-tive firm that sells milk by the litre . Suppose the firmfaces a constant market price of $2 per litre .TotalAverageMarginalPriceRevenueRevenueRevenue( P )Quantity( IR )( AR )( MR )$2150217522002225250a . Compute total revenue for each level of output . Fillin the table .b. Compute average and marginal revenue for eachlevel of output . Fill in the table . ( Remember tocompute marginal revenue between successive lev-els of output . )C . Explain why for a perfectly competitive firm , AR -MR = P .d . Plot the IR , MR, and AR curves on a scale dia -gram . What is the slope of the IR curve ?”

Economics Homework Help

Economics Homework Help

Economics Homework Help. I am looking at #4c specifically—I did not think I could find the profits and producer surplus at the profit

I am looking at #4c specifically—I did not think I could find the profits and producer surplus at the profit

maximizing level of output without a specific marginal revenue value. Do you think the problem is referring to part 4b, where the marginal revenue is $900? Do you think it is merely asking for definitions?

X AVCa) Draw out the short run supply curve for Omer’s firm.b) If the market price of the product is $5,000, what is the firm’s producer surplus? If the market priceof the product is $3,400, what is the firm’s producer surplus? If the market price is $1,700 what is thefirm’s producer surplus?c) Is producer surplus same as profit? Explain.4) Raquel runs a perfectly competitive firm selling cupcakes. Her firm has the following cost functions:Total cost: TC(q) = $10,000 + $100q + $10q2,Marginal cost: MC(q) = $100 + $20q, where q is the number of cupcakesa) What is the Average Total Cost, Average Fixed Costs and Average Variable Cost functions? Drawout the three curves along with the marginal cost curve on one graph.b) If Raquel’s firm faces a market price of $900 per unit, how much will she produce at the profitmaximizing point?c) In the short run, what are profits and producer surplus at the profit maximizing level of output?5) Jean- Baptiste makes homemade pastries. His fixed input in the short run is the mixer. In the long run,he can choose a spatula, hand mixer, or a stand mixer. The following table shows the short-run fixedcost (FC) and variable cost (VC) of weekly production using each different level of the capital input.FC ($)VC ($)FC ($)VC ($)FC ($)VC ($)Output ofI spatulaspatulahandhandstandstandpastriesmixermixermixermixermixermixer20020020020010040020020020080040020010050020001000200250

Economics Homework Help

Economics Homework Help

Economics Homework Help. Suppose that the quantity demanded is a linear function of price, and it has a negative slope. Average cost is a

 Suppose that the quantity demanded is a linear function of price, and it has a negative slope. Average cost is a

constant cost function. Profit equals total revenue minus total cost.

(a) Give algebraic expressions for quantity demanded and for average cost.

(b) Find expressions for average revenue and total revenue as a function of quantity, and sketch the graphs of both. Find a quantity where total revenue is at a maximum.

(c) Find expressions for total cost as a function of quantity. Sketch the total cost function into the graph with total revenue.

(d) Find expressions for profit as a function of quantity. What is its functional form? Sketch the profit function to total revenue and total cost functions. 

Economics Homework Help

Economics Homework Help

Economics Homework Help. 1. Suppose an economy is experiencing higher inflation rate as well as a recessionary gap. Using the policy

1. Suppose an economy is experiencing higher inflation rate as well as a recessionary gap. Using the policy

reaction function, explain whether the Reserve bank will increase or decrease the interest rate?

2. Explain the effect of an increase in imports on the equilibrium output and inflation in the AD-AS model. Carefully distinguish between the short run and the long run. Would this affect the potential output? Why/Why not?

3. Suppose capital in Country A increases from 100 in 2017 to 200 in 2018. Explain the effect of this increase on real GDP, real GDP per capita and average labour productivity

Economics Homework Help

Economics Homework Help

Economics Homework Help. Suppose you send specialty aluminum products from a mill to two different markets.You think that demand may be

 Suppose you send specialty aluminum products from a mill to two different markets. You think that demand may be

different in the markets and your consultant (an SAU MBA grad) agrees. She has measured demand in the markets as:

Qa = 10,000 – 40*Pa  and  Qb = 8000 – 60 Pb

where Qa is the quantity in market a, Qb is the quantity in market b, and the prices are appropriate to the two markets. Assume that marginal cost of production is $75 per unit and that buyers pick up the product at your mill, so transportation is no cost to you.

a. Suppose that you do not price discriminate. What is the optimal price, and quantity for the markets? What are your total revenue and profit? b. If your goal is to maximize your profits, what are the optimal prices, quantities, revenues, and profits in the markets. Is this an increase in total profit? If so, by how much.

Economics Homework Help