Economics Answers

1. At a price of $200, a cellphone company manufactures 300,000 units. At a price of $150, the company produces 200,000 phones. What is the price elasticity of supply?
2. Do customers who visit convenience stores at 3 a.m. have a price elasticity of demand that is more or less elastic than those who visit at 3 p.m.? Please explain.

In the Keynesian-cross model, if the MPC equals 0.75, then a $3 billion decrease in taxes increases planned expenditures by ______ and increases the equilibrium level of income by ______

I don’t know how to solve this question. Assistance would be greatly appreciated.

Is the neoclassical, free-market theory necessarily incompatible with dependence theory? How might these two approaches work together?

Determine each of the following statements as true or false and explaining reasoning.
A. If the average product of an input is increasing, then this implies that the input's marginal product is smaller than its average product.
B. If the total product is increasing, then this implies that the marginal product of the inputs is also increasing.
C. If the marginal product of an input is negative, then this implies that the average product of the input is also negative.
D. If the average product of an input is positive, then this implies that the total product is increasing.

Uncertainty about future income does not affect consumption. Does this mean that the uncertainty does not effect expected lifetime utility?

If monthly inflation rate was 3% in January 2017, in January 2018 it was 2%. What was the annual in January 2018, if December 2017 has annualy 2%?

factors increasing domestic demand for gas

suppose a consumer consumes two commodities(normal goods), can you reconcile the following statements in context of income and price effect. 1)Income consumption curve parallel to x-axis 2) Price consumption curve parallel to y-axis

WHY THE COST OF BORROWING IN THE USA STABLE COMPARED TO OTHER COUNTRIES IS STABLE AND INDEPENDENT OF THEIR DOMESTIC GROWTH

if the total cost of the firm is given by TC=Q2+20
A. The average total coast (ATC)
B. The marginal cost (MC)
C. The average variable cost (AVC)
D. The average fixed cost(AFC)