Homework Answers
1.In the circular flow model,a firm's primary purpose is to sell goods and services and buy resources like labour and capital.
Answer-D
2.A normative statement is based on value judgement and cannot be proved/disproved.
Answer-C
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In the circular flow model of the market system, business firms' major role is to :Select...
question 1 and 5 8 je Circular Flow of Economic Activity Worksheet 1. Which of the...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
In a circular flow of model of a market system: a-households receive income from businesses in...
In a circular flow of model of a market system: a-households receive income from businesses in exchange for providing inputs and use that income to buy goods and services from businesses b- businesses receive revenues from households in exchange for providing goods and services and use those revenues to buy inputs from households c- households receive revenue for selling goods and services to businesses, and use that revenue to buy inputs from businesses d- A and B are both correct
In command system, government owns Select one: O a. Business Firms O b. All of the...
In command system, government owns Select one: O a. Business Firms O b. All of the above O c. Distribution of output O d. Resources
The circular flow model shows the O A. distribution of income to the different factors of...
The circular flow model shows the O A. distribution of income to the different factors of production O B. combinations of the factors of production needed to produce goods and services. O C. flow of expenditure and incomes that arise from the households', firms, and governments' decisions. OD. distribution of income and consumption goods across income levels. O E. flow of natural resources from firms to the private market to government and back to firms,
In a Stackelberg model P = a -bQ Two firms are there Q = Q1 +...
In a Stackelberg model
P = a -bQ
Two firms are there
Q = Q1 + Q2
Solve following: a) Let's say the inverse demand is
given by P = 340 - 7Q and the costs are given by C1 = 10 and C2 =
12: Find the P *, Q1*, Q2* , 1* , 2*
b) Let's say the inverse demand is given by P = 200 - 3Q
and the costs are given by C1 =12 and C2 =15. Find the...
In the circular flow model, households earn their incomes in the Select one: O a. capitalist...
In the circular flow model, households earn their incomes in the Select one: O a. capitalist markets. O b. product markets. c. resource markets. d. money markets.
The following diagram presents a circular-flow model of a simple economy. The outer set of arrows...
The following diagram presents
a circular-flow model of a simple economy. The outer set of arrows
(shown in green) shows the flow of dollars, and the inner set of
arrows (shown in red) shows the corresponding flow of inputs and
outputs.
Which of the following is true regarding this economic
model?
A) While simple, the circular-flow diagram can still be useful
for the purposes of modeling how dollars and resources move
throughout an economy.
B) Because it does not take...
Concord Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Concord Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
LINK TO TEXT
Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631...
Correctly answer each part of question 4. Answer choices have been provided. 4. The stock market...
Correctly answer each part of question 4. Answer choices have
been provided.
4. The stock market AaAa且 A stock market is a public market for trading a company's debt securities equities The bid-ask spread in a dealer market represents the profit that a dealer would make on a transaction involving a security. Which of the following statements best describes the bid-ask spread? O The difference between the closing price of the security and the opening price of the security on...
Let's put dollar amounts on the flows in the circular flow diagram below. Money incom RESOURCE...
Let's put dollar amounts on the flows in the circular flow diagram below. Money incom RESOURCE MARKET • Households sell • Businesses buy borand, crew profiel Resource FIGURE 2.2 The circular flow diagram. Resources flow from households to businesses through the resource market, and products flow from businesses to households through the product market. Opposite these real flows are monetary flows. Households receive income from businesses their costs) through the resource market, and businesses receive revenue from households their expenditures)...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
In command system, government owns Select one: O a. Business Firms O b. All of the above O c. Distribution of output O d. Resources
The circular flow model shows the O A. distribution of income to the different factors of production O B. combinations of the factors of production needed to produce goods and services. O C. flow of expenditure and incomes that arise from the households', firms, and governments' decisions. OD. distribution of income and consumption goods across income levels. O E. flow of natural resources from firms to the private market to government and back to firms,
In a Stackelberg model
P = a -bQ
Two firms are there
Q = Q1 + Q2
Solve following: a) Let's say the inverse demand is
given by P = 340 - 7Q and the costs are given by C1 = 10 and C2 =
12: Find the P *, Q1*, Q2* , 1* , 2*
b) Let's say the inverse demand is given by P = 200 - 3Q
and the costs are given by C1 =12 and C2 =15. Find the...
In the circular flow model, households earn their incomes in the Select one: O a. capitalist markets. O b. product markets. c. resource markets. d. money markets.
The following diagram presents
a circular-flow model of a simple economy. The outer set of arrows
(shown in green) shows the flow of dollars, and the inner set of
arrows (shown in red) shows the corresponding flow of inputs and
outputs.
Which of the following is true regarding this economic
model?
A) While simple, the circular-flow diagram can still be useful
for the purposes of modeling how dollars and resources move
throughout an economy.
B) Because it does not take...
Concord Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
LINK TO TEXT
Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631...
Correctly answer each part of question 4. Answer choices have
been provided.
4. The stock market AaAa且 A stock market is a public market for trading a company's debt securities equities The bid-ask spread in a dealer market represents the profit that a dealer would make on a transaction involving a security. Which of the following statements best describes the bid-ask spread? O The difference between the closing price of the security and the opening price of the security on...
Let's put dollar amounts on the flows in the circular flow diagram below. Money incom RESOURCE MARKET • Households sell • Businesses buy borand, crew profiel Resource FIGURE 2.2 The circular flow diagram. Resources flow from households to businesses through the resource market, and products flow from businesses to households through the product market. Opposite these real flows are monetary flows. Households receive income from businesses their costs) through the resource market, and businesses receive revenue from households their expenditures)...
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