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defon
2 years ago
7

Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.MicroeconomicsMa

croeconomics1. The effect of a large government's budget deficit on the economy's price level2. The effect of government regulation on a monopolist's production decisions3. A consumer's optimal choice when buying a flat-screen TV
Business
1 answer:
lisov135 [29]2 years ago
8 0

Answer:

See answers below

Explanation:

1. The effect of a large government's budget deficit on the economy's price level

<em>Macroeconomics.</em> Macroeconomics deals with the study of the aggregate economy and the impacts of fiscal and monetary policies on the economy. Given three levels of economics participants - the consumer, firms, and the government - macroeconomics focuses on the government. Thus, the effect of a large government's budget on the economy's price level will fall under the purview of Macroeconomics.

2. The effect of government regulation on a monopolist's production decisions

<em>Microeconomics</em>. While this tends toward macroeconomics as it considers the effect of government regulation, it aligns more with Microeconomics as the effect is being considered on a specific firm and not the whole economy.

3. A consumer's optimal choice when buying a flat-screen TV

<em>Microeconomics</em>. This focuses on the consumer as an economic participant, and is thus a micro-economic concern.

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3 years ago
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At $180, a firm can sell 18,100 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At t
kifflom [539]

Answer:

revenue falls by $167,005.08

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

When elasticity of demand is less than 1, demand is inelastic

Demand is inelastic if a small change in price has little or no effect on quantity demanded.

change in percentage demanded when price falls by 11% = 11% x 0.6 = 6.6%

Quantity demanded increases by 6.6%

Increase in quantity demanded = 18,100 x 1.066 = 19,294.60

decrease in price = 0.89 x $180 = $160.20

change in total revenue

(180 x 18,100 ) - ( $160 .20 x 19,294.60)

= 3,258,000 - 3,090,994.92

=167,005.08

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1. Cedric enters into a contract with Claudia to buy her house for $150,000. Claudia decides later not to sell
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Answer:

True

Explanation:

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2 years ago
The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the r
77julia77 [94]

Answer:

1. April 30

Dr Bonds payable $158,000

Dr Loss on redemption of bonds payable $18,486

Cr Discount on bonds payable $15,326

Cr Cash $161,160

2. June 30

Dr Bonds payable $179,000

Dr Premium on bonds payable $14,320

Cr Gain on redemption of bonds payable $23,270

Cr Cash $170,050

Explanation:

1. Preparation of the appropriate journal entry for the redemption of the bonds.

April 30

Dr Bonds payable $158,000

Dr Loss on redemption of bonds payable $18,486

($161,160+$15,326-$158,000)

Cr Discount on bonds payable $15,326

($158,000-$142,674)

Cr Cash $161,160

($158,000*1.02)

(To record redemption of bonds)

2. Preparation of the appropriate journal entry for the redemption of the bonds.

June 30

Dr Bonds payable $179,000

Dr Premium on bonds payable $14,320

($193,320-$179,000)

Cr Gain on redemption of bonds payable $23,270

($179,000+$14,320-$170,050) .

Cr Cash $170,050

($179,000*.95)

(To record redemption of bonds)

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