Economics Answers

The following sets of statements contain common errors. Identify and explain each error:
a. Demand increases, causing prices to rise. Higher prices cause demand to fall. Therefore, prices fall back to their original levels.
b. The supply of chicken meat in Pakistan increases, causing meat prices to fall. Lower prices always mean that Pakistani households spend more on meat.

. For each of the following statements, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each case the impact on equilibrium price and equilibrium quantity.
a. Dr. Adeeb Rizvi warns that high-cholesterol foods cause heart attacks.
b. The price of bread, a complementary product, decreases.
c. An increase in the price of chicken feed occurs.
d. Caesar salads become trendy at dinner parties. (The dressing is made with raw eggs.)

Assume TC = 5Q2+ 200Q+ 110 is the cost function of a firm. This firm sells 30Q for a unit price of Rs. 10. What is the profit maximizing quantity of this firm?

the introduction of atm, credit cards and e-wallets have reduced the demand for money at any given level of income and interest rate. using as-ad and is-lm framework: a) Show if this evolution will have any impact on the output, prices and interest rate in the medium-run. Illustrate using a diagram.

Find the equilibrium price and equilibrium quantity from the following relations describes demand and supply conditions in a given industry.
QD = 80000 –20000P (Demand)
QS = -20000 + 20000P (Supply)
Where Q is quantity and P is price in dollars.

explain the concept known as opportunity
cost on a ppc curve when production moves from point to point?

A supply and demand question.
A. An engine getting roughly twice the miles per gallon as most older engines is invented and marketed.

1.Demand
a. Increases
b.Decreases
c. Stays the same

2.Supply
a.Increases
b. Decreases
c.Stays the same

3.Quantity bought and sold
a. Increases
b.Decreases
c.Stays the same

4.Price per gallon
a.Increases
b.Decreases
c. Stays the same

If my total fixed cost is $100, how much will my fixed cost be in long run?

given utility function U= where PX = $12, $, py = $4 and the income of the consumer is, M = $240.
A, Find the utility maximizing combinations of X and Y.
B, calculate marginal rate of substitution of X for Y (MRSX,Y) at equilibrium and interpret your result.

a news piece is given analyzing the effect of covid 19 on the market of hand sanitizer.
question is what inferences can be drawn regarding the price elasticity of hand
sanitizers (For top three and the rest of local brands) before and after COVID-19? What are the
economic consequences for the top three players and the local brands of sanitizers?
what i actually have to do?