Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Suppose that a monopolist is selling 100 units of a product for $20 each. If the average variable cost at this level of output is $10.50 and average fixed cost at this level of output is $8
Economic profit= (20 - 10.5 - 8)*100= $150
Answer:
$50 billion
Explanation:
To find the change in aggregate expenditures, we need to find the change in consumption. For this, we will use the marginal propensity to consume formula:
MPC = ΔC/ΔY
Where:
MPC = Marginal propensity to consume
ΔC = Change in consumption
ΔY = Change in output (GDP)
We know that out MPC is 0.5, and our ΔY is $billion. We plug these amounts into the formula:
0.5 = ΔC / 100 billion
And we rearrange the equation to solve for ΔC
ΔC = $ 100 billion x 0.5
ΔC = $50 billion
So the change in consumption is $50 billion, which is also the change in aggregate expenditure.
With the decrease in the supply of the hogs in the market, there was an excess demand due to which the price of hogs in the market rose from the previous level.
<u>Explanation:</u>
In the year 2014, the price of the hogs in the market of the United States of America was 58 cents per pound. But with the decrease in the supply of the hogs in the market of the country, the supply curve of the same shifted towards the left side.
This created a situation of excess demand in the country because the supply in the market could not fulfill the supply of the hogs in the market. So this led to the price of the hogs rise. In the year 2015, there fore the price of hogs in the market was 81 cents per pound. This was higher than the price compared to the previous year.
The process of distinguishing between right and wrong decisions in a business setting is called business ethics.
<h3>What is business ethics?</h3>
Business ethics are the moral principles and standards that act as guidelines for the way a business conducts its business transactions with outside world. It is a practice that determines what is right, wrong, and appropriate in the workplace.
Business ethics is important because it help ensure a good reputation for a company. This means that the company would have a good image in the society.
Therefore, the process of distinguishing between right and wrong decisions in a business setting is called business ethics.
Learn more about business ethics here : brainly.com/question/24606527