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Spending and production will be the same and there will be no unplanned inventory or GDP changes. Thus there will be no discrepancies.
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6 review questions
1. Use the production possibilities below to answer this questiona. Draw domestic production possibilities for Alpha and O ...
6 review questions
1. Use the production possibilities below to answer this questiona. Draw domestic production possibilities for Alpha and Omega (hint: these are linear tradeoffs).b. Suppose each country specializes in its comparative advantage, and the terms of trade are 1 ton of steel for 2 tons of wheat. Can Alpha and Omega both achieve a level of consumption outside of their production possibilities? Use the graphs from Part a to explain your answer.c. Suppose in autarky (i.e. as a self-sufficient economy) both Alpha and Omega produce at point C on their respective production possibilities functions. Based on your answer to Part b, how much has total consumption increased for both Alpha and Omega?2. Suppose the American Association of University Professors (AAUP) successfully coordinated and lobbied congress to pass a requirement that all professors at U.S. universities must have graduate degrees from U.S. universities.a. How would this requirement affect the market for 4-year college degrees in the U.S.? Graph and explain your answer. What would happen to tuition and the number of degrees conferred?b. How would this requirement affect the market for graduate degrees at universities outside the U.S.? Again, graph your answer and explain what would happen to both tuition and the number of degrees conferred.c. Suppose that the requirement were instead that all professors at U.S. universities had to be U.S. citizens, but there was no requirement that professors’ graduate degrees be conferred by U.S. universities. How would this policy change your answers to Parts a and b?3. Name a good or service that the U.S. exports that you believe is an example of U.S. firms’ comparative advantage.a. Explain where you believe that comparative advantage comes from. Do you believe the comparative advantage is best explained by factor conditions, domestic rivalry, or network externalities from related and supporting industries? Explain your answer in 5-8 sentences.Alpha’s production possibilities: A B C D E Steel (tons) 60 45 30 15 0 Wheat (tons) 0 15 30 45 60 Omega’s production possibilities: A B C D E Steel (tons) 20 15 10 5 0 Wheat (tons) 0 15 30 45 60b. Explain how the Product Life Cycle Theory applies to the good or service you chose, and which country(ies) you believe will be the future exporters of this product. Make your case in 4-6 sentences.4. Medical Doctors earn much higher salaries in the U.S. than in most of the world. Salaries vary widely by specialty and region, but the average for all physicians is roughly $200,000 per year. Explain why, in 3-4 paragraphs. You may give more than one reason, but use the labor market for doctors’ services to explain your answer. A graph is not required, but it can clarify your thinking.5. Using consumer behavior theory, i.e. utility-maximization theory, to explain how international trade makes consumers better off in terms of individual utility. Who is harmed by international trade? Explain how, using the tools of microeconomics. Your answer should be 3-4 paragraphs long and should include supply and demand graphs where appropriate.6. In 3-4 sentences, explain how growth in international trade can lead to rising average wages for workers in developing economies. In 4-6 sentences, explain how growth in international trade can lead to rising average wages for workers in advanced economies. Use supply and demand models of the labor market in each of your answers.
module 3 deliverable
I will attach the excel sheet needed for completion and also the grading rubric for this assignment. CompetencyElasticity, ...
module 3 deliverable
I will attach the excel sheet needed for completion and also the grading rubric for this assignment. CompetencyElasticity, consumer choice, utility, productivity, and nature of costs.Course ScenarioOil Company X is a large oil refinery which has been expanding and
taking on new investment projects. Recently, they have considered
building a pipeline that stretches across the United States, from Canada
to New Orleans.You are a member of the Cost Department. At a recent meeting of the
board of directors, it was estimated that the cost of building the
pipeline would be two million dollars in total for the production of a
30,000-mile stretch, $5,000 of which is a fixed cost in taxes. They also
want you to determine if the currently available alternative energy
source is a strong substitute good for oil, which may interfere with
expected profits from this venture.InstructionsAs a cost analyst at your firm, you are asked to evaluate the
marginal cost of producing the pipeline per 1,000-mile stretch as well
as the average total cost of producing the pipeline per 1,000 miles.
Submit a 2-page report detailing the cost. Include calculations in your
Word document.You will also include a table showing the final figures for the following costs:Total Fixed CostTotal Variable CostAverage Variable CostAverage Fixed CostMarginal CostBe sure to also include a calculation of the cross-price elasticity
of the alternative energy source and oil. Assume the current price of
oil is $50/gallon. If the price increases to $55/gallon of crude oil,
the quantity demanded of the alternative energy source increases by 20%.Is this a complementary good, a substitute good, or a non-related
good? If there is a relationship, indicate whether the relationship is
weak or strong. Justify your answer with an explanation.Format your proposal to include a title page, introduction,
conclusion, and references. Include all relevant graphs, equations, and
calculations. Show your work on calculations to ensure you receive
partial credit for incorrect answers. No credit will be given if your
work is not shown. Remember to cite your sources using correct APA
format, and also use correct grammar, spelling, and formatting.
Microeconomics - Elasticity of Demand
Please fill out the attached template.In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, ...
Microeconomics - Elasticity of Demand
Please fill out the attached template.In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, and understanding the difference between Price Elasticity of Demand and Income Elasticity of Demand. We all subconsciously assign “scores” to what we are considering to purchase, based on our expected level of “satisfaction” (Marginal Utility) with that purchase. When making simultaneous pairs of purchases, again we subconsciously compare the amount of “satisfaction” (Marginal Utility) that we will receive from the pair of purchases. To decide on the “ideal” combination of these two purchases, we expect that the last dollar we spend on each of the items will give us the “same” satisfaction per dollar (Marginal Utility per dollar). Further, we know that the MORE of an item that we get, the next one we get will give us LESS “satisfaction” Marginal Utility) than the last one gave us (the Law of Diminishing Marginal Utility). Using what you have learned about Marginal Utility and Marginal Utility per dollar, answer the following questions.
ADM 624 Grand Canyon University Building Trust and Project Stakeholders Discussion
You have just graduated from GCU with your MPA and landed a job as an assistant to the City of Phoenix manger. The City of ...
ADM 624 Grand Canyon University Building Trust and Project Stakeholders Discussion
You have just graduated from GCU with your MPA and landed a job as an assistant to the City of Phoenix manger. The City of Phoenix and GCU are collaborating to enact a quarter cent sales tax in order to extend the light rail down Camelback, making a stop at the main entrance of the campus. Using the readings from this topic, do the following in 500‐750 words.Describe the various stakeholders involved in this project with whom you may need to build trust.Describe all the factors you should consider when taking on this goal.Explain how you can use your knowledge of these factors to build trust with the various parties involved.Recommend best practices to build trust with all stakeholders involved.Use two to three scholarly resources to support your explanations.
Campbellsville University Cash Value of Coca Cola Company Discussion
Go to the end of Chapter 8 and do Exercise 8C "Determine the Cash Value of Coca-Cola Company" Steps 1 thru 3. Submit your ...
Campbellsville University Cash Value of Coca Cola Company Discussion
Go to the end of Chapter 8 and do Exercise 8C "Determine the Cash Value of Coca-Cola Company" Steps 1 thru 3. Submit your calculations for the Net Worth Method and the Net Income Method, Price-Earnings Ratio, and the outstanding shares method along with your determination of Coca-Cola cash value for the fiscal year, in the discussion forum. After submitting the assignment, work with your peers and come to an agreement about Coca-Cola cash value.
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Most Popular Content
6 review questions
1. Use the production possibilities below to answer this questiona. Draw domestic production possibilities for Alpha and O ...
6 review questions
1. Use the production possibilities below to answer this questiona. Draw domestic production possibilities for Alpha and Omega (hint: these are linear tradeoffs).b. Suppose each country specializes in its comparative advantage, and the terms of trade are 1 ton of steel for 2 tons of wheat. Can Alpha and Omega both achieve a level of consumption outside of their production possibilities? Use the graphs from Part a to explain your answer.c. Suppose in autarky (i.e. as a self-sufficient economy) both Alpha and Omega produce at point C on their respective production possibilities functions. Based on your answer to Part b, how much has total consumption increased for both Alpha and Omega?2. Suppose the American Association of University Professors (AAUP) successfully coordinated and lobbied congress to pass a requirement that all professors at U.S. universities must have graduate degrees from U.S. universities.a. How would this requirement affect the market for 4-year college degrees in the U.S.? Graph and explain your answer. What would happen to tuition and the number of degrees conferred?b. How would this requirement affect the market for graduate degrees at universities outside the U.S.? Again, graph your answer and explain what would happen to both tuition and the number of degrees conferred.c. Suppose that the requirement were instead that all professors at U.S. universities had to be U.S. citizens, but there was no requirement that professors’ graduate degrees be conferred by U.S. universities. How would this policy change your answers to Parts a and b?3. Name a good or service that the U.S. exports that you believe is an example of U.S. firms’ comparative advantage.a. Explain where you believe that comparative advantage comes from. Do you believe the comparative advantage is best explained by factor conditions, domestic rivalry, or network externalities from related and supporting industries? Explain your answer in 5-8 sentences.Alpha’s production possibilities: A B C D E Steel (tons) 60 45 30 15 0 Wheat (tons) 0 15 30 45 60 Omega’s production possibilities: A B C D E Steel (tons) 20 15 10 5 0 Wheat (tons) 0 15 30 45 60b. Explain how the Product Life Cycle Theory applies to the good or service you chose, and which country(ies) you believe will be the future exporters of this product. Make your case in 4-6 sentences.4. Medical Doctors earn much higher salaries in the U.S. than in most of the world. Salaries vary widely by specialty and region, but the average for all physicians is roughly $200,000 per year. Explain why, in 3-4 paragraphs. You may give more than one reason, but use the labor market for doctors’ services to explain your answer. A graph is not required, but it can clarify your thinking.5. Using consumer behavior theory, i.e. utility-maximization theory, to explain how international trade makes consumers better off in terms of individual utility. Who is harmed by international trade? Explain how, using the tools of microeconomics. Your answer should be 3-4 paragraphs long and should include supply and demand graphs where appropriate.6. In 3-4 sentences, explain how growth in international trade can lead to rising average wages for workers in developing economies. In 4-6 sentences, explain how growth in international trade can lead to rising average wages for workers in advanced economies. Use supply and demand models of the labor market in each of your answers.
module 3 deliverable
I will attach the excel sheet needed for completion and also the grading rubric for this assignment. CompetencyElasticity, ...
module 3 deliverable
I will attach the excel sheet needed for completion and also the grading rubric for this assignment. CompetencyElasticity, consumer choice, utility, productivity, and nature of costs.Course ScenarioOil Company X is a large oil refinery which has been expanding and
taking on new investment projects. Recently, they have considered
building a pipeline that stretches across the United States, from Canada
to New Orleans.You are a member of the Cost Department. At a recent meeting of the
board of directors, it was estimated that the cost of building the
pipeline would be two million dollars in total for the production of a
30,000-mile stretch, $5,000 of which is a fixed cost in taxes. They also
want you to determine if the currently available alternative energy
source is a strong substitute good for oil, which may interfere with
expected profits from this venture.InstructionsAs a cost analyst at your firm, you are asked to evaluate the
marginal cost of producing the pipeline per 1,000-mile stretch as well
as the average total cost of producing the pipeline per 1,000 miles.
Submit a 2-page report detailing the cost. Include calculations in your
Word document.You will also include a table showing the final figures for the following costs:Total Fixed CostTotal Variable CostAverage Variable CostAverage Fixed CostMarginal CostBe sure to also include a calculation of the cross-price elasticity
of the alternative energy source and oil. Assume the current price of
oil is $50/gallon. If the price increases to $55/gallon of crude oil,
the quantity demanded of the alternative energy source increases by 20%.Is this a complementary good, a substitute good, or a non-related
good? If there is a relationship, indicate whether the relationship is
weak or strong. Justify your answer with an explanation.Format your proposal to include a title page, introduction,
conclusion, and references. Include all relevant graphs, equations, and
calculations. Show your work on calculations to ensure you receive
partial credit for incorrect answers. No credit will be given if your
work is not shown. Remember to cite your sources using correct APA
format, and also use correct grammar, spelling, and formatting.
Microeconomics - Elasticity of Demand
Please fill out the attached template.In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, ...
Microeconomics - Elasticity of Demand
Please fill out the attached template.In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, and understanding the difference between Price Elasticity of Demand and Income Elasticity of Demand. We all subconsciously assign “scores” to what we are considering to purchase, based on our expected level of “satisfaction” (Marginal Utility) with that purchase. When making simultaneous pairs of purchases, again we subconsciously compare the amount of “satisfaction” (Marginal Utility) that we will receive from the pair of purchases. To decide on the “ideal” combination of these two purchases, we expect that the last dollar we spend on each of the items will give us the “same” satisfaction per dollar (Marginal Utility per dollar). Further, we know that the MORE of an item that we get, the next one we get will give us LESS “satisfaction” Marginal Utility) than the last one gave us (the Law of Diminishing Marginal Utility). Using what you have learned about Marginal Utility and Marginal Utility per dollar, answer the following questions.
ADM 624 Grand Canyon University Building Trust and Project Stakeholders Discussion
You have just graduated from GCU with your MPA and landed a job as an assistant to the City of Phoenix manger. The City of ...
ADM 624 Grand Canyon University Building Trust and Project Stakeholders Discussion
You have just graduated from GCU with your MPA and landed a job as an assistant to the City of Phoenix manger. The City of Phoenix and GCU are collaborating to enact a quarter cent sales tax in order to extend the light rail down Camelback, making a stop at the main entrance of the campus. Using the readings from this topic, do the following in 500‐750 words.Describe the various stakeholders involved in this project with whom you may need to build trust.Describe all the factors you should consider when taking on this goal.Explain how you can use your knowledge of these factors to build trust with the various parties involved.Recommend best practices to build trust with all stakeholders involved.Use two to three scholarly resources to support your explanations.
Campbellsville University Cash Value of Coca Cola Company Discussion
Go to the end of Chapter 8 and do Exercise 8C "Determine the Cash Value of Coca-Cola Company" Steps 1 thru 3. Submit your ...
Campbellsville University Cash Value of Coca Cola Company Discussion
Go to the end of Chapter 8 and do Exercise 8C "Determine the Cash Value of Coca-Cola Company" Steps 1 thru 3. Submit your calculations for the Net Worth Method and the Net Income Method, Price-Earnings Ratio, and the outstanding shares method along with your determination of Coca-Cola cash value for the fiscal year, in the discussion forum. After submitting the assignment, work with your peers and come to an agreement about Coca-Cola cash value.
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