Answer:
$52
$ 1.33
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced export
- portends gloom for the general outlook for the economy
Explanation:
Given domestic demand curve, S(p) = 20p⁻⁰°⁵
the domestic supply curve S(p)= 5p⁰°⁵
world price is $7.00
using calculus to determine the changes in consumer surplus
by consumer surplus means in this case supply exceeds demand
we establish the equilibrium point where the supply and demand functions meet or are equal
solving 20p⁻⁰°⁵ = 5p⁰°⁵
20/5 = p⁰°⁵/p⁻⁰°⁵
4 = p⁰°⁵⁺⁰°⁵
4= p = q which is the quantity produced
consumer surplus = maximum price willing to pay - Actual price
= ∫⁴₀ dp dp - p* q
= ∫⁴₀20p⁻⁰°⁵ dp- 7* 4
= 20∫⁴₀p⁻⁰°⁵ dp -28
= 20/0.5 p⁰°⁵- 28
= 40 *4⁰°⁵ - 28 = $52
producer surplus = it is a measure of producer welfare. It is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive
thus producer surplus = p* q - ∫⁴₀ d(s) dp
= 7 * 4 - ∫⁴₀ 5p⁰°⁵ dp
= 28 - 5 ∫⁴₀ p⁰°⁵ dp
= 28 -5 *2/3 p¹°⁵
= 28 -5 *2/3 4¹°⁵
=$ 1.33
welfare from eliminating free trade
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced exports
- portends gloom for the general outlook for the economy
What is the minimum monthly gross income you need to be able to afford the above and still save $100 a month set all to zero except $800-$999 medicare $100, internet $50, telephone $50. food $600.The amount paid to an employee in a month before taxes or other deductions is known as gross monthly income.
The amount is specified in both job offer letters and paychecks. Overtime, bonuses, and commissions are all possible sources of additional gross monthly income. Gross pay is related. Your gross income will also help you budget and figure out how much money you'll have to save for retirement.
To learn more about gross income, click here
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Answer:
Option (a) is correct.
Explanation:
France can produce four phones or three computers:
Opportunity cost of producing one phone = (3 ÷ 4)
= 0.75 computers
Opportunity cost of producing one computer = (4 ÷ 3)
= 1.33 phones
Sweden can produce one phone or two computers:
Opportunity cost of producing one phone = (2 ÷ 1)
= 2 computers
Opportunity cost of producing one computer = (1 ÷ 2)
= 0.5 phones
Therefore,
France has a comparative advantage in producing phones because of the lower opportunity cost of producing it than Sweden. France should specialize in producing phones and import computers from Sweden.
Sweden has a comparative advantage in producing computers because of the lower opportunity cost of producing it than France. Sweden should specialize in producing computers and import phones from France.
Since it is a short term loan, it wouldn't be a second home or a car, because those are paid for over the course of YEARS.
A skateboard is usually ~100$ and doesn't need a loan.
Your answer is C) To pay for credit card debt
Answer:
produce unique products
Explanation:
when a business produce unique products can't be threatened by substitution products
