Demand curve Study guides, Class notes & Summaries

ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS) Question 1 Answer saved Marked out of 1.00 Flag question Question text The distribution effects of inflation are best described by … a. the elderly benefiting at the expense of the young. b. creditors benefiting at the expense of debtors. c. borrowers benefiting at the expense of lenders. d. the poor benefiting at the expense of the rich. Clear my choice Question 2 Answer saved Marked out of 1.00 Flag question Quest...

ECN 211 : Final Exam Review questions with correct answers Real GDP is commonly used for what? Correct Answer-Short run changes. When real GDP falls, so does what? Correct Answer-- Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? Correct Answer-- Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? Correct A...

ECS1500 Assignment 1 Semester 2 2023 (ANSWERS) Question 1 Incorrect Mark 0.00 out of 2.00 Flag question Question text The service of an information technology specialist will form part of the production factor, capital. Select one: a. True b. False Feedback Your answer is incorrect. The service of an information technology specialist will form part of the production factor, labour. This entails the use of the abilities and talents of a person who will be paid a wage or salary...

What is bigger in the tourism industry, fixed costs or variable costs? fixed costs are bigger -Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from fixed costs; food, fuel (variable) - not as easy to determine the variable costs We can reduce prices (even below total cost per room), as long as the reduced price covers, fixed cost per room or variable cost per room? We can reduce prices as long as the reduced price covers the variable ...

WGU C211 OA Global Economics Which political view of foreign direct investment (FDI) is most widely used by governments in the current international business environment? Protectionism Which factors predict the degree of rivalry between a pair of competitors? 2 choices Market Commonality Cost structure Which factors predicts how local firms in emerging economics will respond to multinational competitors? Competitive assets and industry pressures to globalize Mark...

ECS2601 Assignment 4 (QUIZ) Semester 1 % TRUSTED workings, explanations and solutions. Whatsapp 067 171 1739 for assistance. ............................................................... In the short run, a perfectly competitive firm earning positive profit is … a. at the minimum of its ATC. b. on the upward sloping portion of its ATC. c. on the downward sloping portion of its ATC. d. above its ATC. If current output is less than the profit-maximising output, then the next unit prod...

ECS2606 Assignment 2 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . 1. Briefly explain the case for the emission trading system. [3] 2. In comparison with emission standards, do you think a trading system makes the most sense? How would you advise the government? [7] 3. Explain why command and control instruments such as standards are more often implemented than incentive-based instruments [5] 4. Explain how multiple so...

Which of the following is not one of the three main reasons for the inverse relationship between AE and price level? The price-level effect The interest-rate effect The wealth effect The international-trade effect correct answers The price-level effect Holding all else constant, a decrease in the price level would be represented by a movement to __________. correct answers the left Holding all else constant, a decrease in consumers' expected future income would be represented by a mo...

Revenue Management Final Exam | Latest 2023 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What elem...

When a tax is imposed on the buyers of a good, the demand curve shifts downward by the amount of the tax Efficiency is attained when total surplus is maximized. The size of the deadweight loss generated from a tax is affected by the elasticities of both supply and demand. The maximum price that a buyer will pay for a good is called the willingness to pay. When a tax is placed on a product, the price paid by buyers _________, and the price received by sellers _____...