Other Economics Answers

Explain 5 ways the government ensures national income statistics is correct

what is the difference between internalization and globalization in economics (20)

Why measuring price, income, cross and advertisement elasticities of demand for an insurance product is good for the growth of the sector? Use supply and demand curve to illustrate how each of the following events would effect the price/ or premium in quantity of a private health insurance policy (a) if you get benefits under swathya bema yojna of the state government? (b) a decrease in your average income level during pendamic (c) if policy premium are expected to increse in coming future and (d) if more tax benefit are provided for taking this policy?

When does an economy experiences stagflation

2. A manufacturer of electronics products has developed a handheld

computer, for which the cost of production is given below. Also given are

Quantities and prices that the firm believes it will be able to sell.

Q (1000)​ Price ​MR ​AVC ​AC ​MC

0​​1650

1 ​​1570 ​1570 ​1281​ 2281 ​1281

2​​ 1490 ​1410​ 1134​ 1634​ 987

3 ​​1410​ 1250​ 1009 ​1342.33 759

4 ​​1330 ​1090​ 906 ​1156​ 597

5 ​​1250 ​930​ 825 ​1025 ​501

6 ​​117 ​770​ 766​ 932.67 ​471

7 ​​1090​ 610​ 729​ 871.86 507

8 ​​1010​ 450 ​714 ​839 ​609

9 ​​930 ​290​ 721​ 832.11 777

10​​ 850 ​130 ​750 ​850 ​1011 

(a) What price should the firm charge if it wants to maximize profit in the short

run?

(b) What arguments cam be made for charging a price higher than this price? If a

higher price is indeed established, what amount would you recommend?

Explain.

(c) What arguments cam be made for charging a price lower than the profit

maximizing level? If a lower is indeed established, what amount would you

recommend? Explain.

In the short run, equilibrium for monopolistically competitive firms resembles equilibrium for monopolist in that

Suppose you will incorporate the topic of Socioeconomic Factors to the current/future business in the Philippines, 

1. Assess the economic state of our country based on the information you can gather from various media.  What are the economic factors that will affect the operations of the business? How?  

2. How will you persuade the public to patronize the business? What strategies will you incorporate?  

3. How will you utilize the technologies that we have now to offer better products or services to the customers? 

Base on the definition of perfectly competitive market, what is the industry that belongs to this category?

The Green Company produces chemicals in a perfectly competitive market.The current market price is 40, the firms total cost is C= 100+4Q+Q2

a. Complying with more stringent environmental regulations increases the firms fixed cost from 100 to 144.Would this affect the firms output? Its supply curve?

The Green Company produces chemicals in a perfectly competitive market.The current market price is 40, the firms total cost is C= 100+4Q+Q2.

a.Determine the firms profit maximizing output. More generally, write down the equation for the firms supply curve in terms of price P.