The law of diminishing marginal returns holds for a situation in which some inputs are variable and some inputs are fixed.
<h3>What is the law of
diminishing marginal returns?</h3>
The law of diminishing marginal returns states that after some optimal level of capacity is reached in a production process, an additional factor of production would result in a lessening of output (quantity of production).
In this context, we can infer and logically deduce that the law of diminishing marginal returns would only hold for an economic situation in which some inputs are variable and some inputs are fixed.
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Answer:
Flashfone and Pictech
a. If Flashfone prices high, Pictech will make more profit if it chooses a (high,low) __low___ price, and if Flashfone prices low, Pictech will make more profit if it chooses a(high,low)___low____ price.
b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)__low____price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) __low____ price.
c. Considering all of the information given, pricing high (is, is not) _is not_ a dominant strategy for both Flashfone and Pictech.
Explanation:
a) Data and Calculations:
Pictech Pricing
High Low
Flashfone Pricing High 11, 11 2, 18
Low 18, 2 10, 10
b) A dominant strategy exists if Pictech or Flashfone would implement a particular strategy that benefits it no matter what the other firm does.
Answer: Argentinean central bankers effectively gave control of their domestic interest rate to the FOMC.
Explanation:
The Federal Open Market Committee(FOMC) is a committee of the Federal Reserve which influences the interest rate in the country by engaging in Open Market Operations (OMO). In doing so, they also influence the value of the dollar which is the currency of the U.S.
By pegging the Argentine Peso to the U.S. dollar, the Argentines effectively gave control of their domestic interest rate to the FOMC because the FOMC in deciding the interest rate for the U.S. and therefore the dollar, will be deciding for any other currency that moves exactly as the dollar does which is what the Peso is now going to do.
The monthly payment for this car loan is equal to: D. $505. 79.
<u>Given the following data:</u>
To calculate the monthly payment for this car loan:
Mathematically, the monthly payment on a loan is given by this formula:

<u>Where:</u>
- P is the principal or amount borrowed.
- M is the monthly payment.
- t is the number of years.
Substituting the given parameters into the formula, we have;

Monthly payment, M = $505.79
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