Answer:
Marginal Cost = $30
Explanation:
Given that
Price = $60
Elasticity of demand = -2
Recall that
MC = P(1 + 1/Ed)
From monopolist pricing rule as a function of elasticity of demand.
Where MC = marginal cost
Ed = elasticity of demand = -2
Thus
MC = 60 (1 + 1/-2)
= 60 (1 + [-0.5])
= 60 ( 1 - 0.5)
= 60 (0.5)
= 30
MC = $30
Answer:
A High School Diploma is a stepping-stone toward future education.
Explanation:
A High School Diploma will definitely be a perfect move and a stepping-stone towards future education, which undoubtedly, will pave the way for the further and higher education of the people. They can proceed ahead easier if they have achieved this first milestone. This will prove as the first step towards their educational journey, which surely need to be taken, at least, anyway.
The total gains from trade are 66 dishes of pasta and 66 pizzas an hour.
Explanation:
A calculation of the net income from trade is the amount of the surplus of the customer and the earnings of the manufacturer or, more generally, the enhanced efficiency of the specialization of production with the subsequent export.
Trade gains can also apply to the net benefits of reducing barriers to trade, such as import tariffs, for a region.
To measure the income, take the price at which you sell the investment and deduct from it the price you originally charged for it. Now that you've got the income, split the income by the original value of the investment. Finally, subtract the response by 100 to adjust the percentage of your investment.
Answer:
The idea is that one variable is the effect of another variable or, to say it another way, that one variable precedes and/or causes another. The dependent variable is the variable to be explained (the 'effect”). The independent variable is the variable expected to account for (the “cause” of) the dependent variable.
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Suppose that real GDP per capita in Italy is $36,000. If real GDP per capita is growing at a rate of 3. 6% per year. How many years will it take for real GDP per capita to reach $72,000?
The correct answer is 20 years.
What is GDP per capita?
GDP per capita is calculated by dividing the total gross value contributed by all producers who are residents of the economy by the mid-year population, plus any product taxes (less subsidies) that are not taken into account when valuing output.
In the given case, the real GDP of Italy will be doubled in 20 years which is determined by rule 72.
So, 20 years it will take for real GDP per capita to reach $72,000.
Learn more about GDP per capita here:
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