Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Economic function of profits and losses

21/10/2021 Client: muhammad11 Deadline: 2 Day

From Society's Point Of View The Economic Function Of Profits And Losses Is To

3. From society's point of view the economic function of profits and losses is to:
A) promote the equal distribution of real assets and wealth.
B) achieve full employment and price level stability.
C) contribute to a more equal distribution of income.
D) reallocate resources from less desired to more desired uses.

Answer the next question(s) using the following data which show all available techniques for producing 20 units of a particular commodity:

4. Refer to the above data. In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s):
A) #1. B) #2 and #4. C) #3. D) #1 and #3.

5. Refer to the above data. Assuming that the firm is motivated by self-interest and that the 20 units which can be produced with each technique can be sold for $3 per unit, the firm will:
A) realize an economic profit of $10.
B) realize an economic profit of $30.
C) not earn any economic profit.
D) close down rather than incur a loss by producing.

6. The market system's answer to the fundamental question "Who will get the goods and services?" is essentially:
A) "Those willing and able to pay for them." C) "Those who most need them."
B) "Those who physically produced them." D) "Those who get utility from them."

7. An increase in the price of a product will reduce the amount of it purchased because:
A) supply curves are upsloping.
B) the higher price means that real incomes have risen.
C) consumers will substitute other products for the one whose price has risen.
D) consumers substitute relatively high-priced for relatively low-priced products.

8. If two goods are complements:
A) they are consumed independently.
B) an increase in the price of one will increase the demand for the other.
C) a decrease in the price of one will increase the demand for the other.
D) they are necessarily inferior goods.

Use the following to answer questions 9-10:

9. A decrease in demand is depicted by a:
A) move from point x to point y. C) shift from D2 to D1.
B) shift from D1 to D2. D) move from point y to point x.

10. A decrease in quantity demanded (as distinct from a decrease in demand) is depicted by a:
A) move from point x to point y. C) shift from D2 to D1.
B) shift from D1 to D2. D) move from point y to point x.

11. The term quantity demanded:
A) refers to the entire series of prices and quantities that comprise the demand schedule.
B) refers to a situation in which the income and substitution effects do not apply.
C) refers to the amount of a product that will be purchased at some specific price.
D) means the same thing as demand.

12. If consumers are willing to pay a higher price than previously for each level of output, we can say that that following has occurred:
A) a decrease in demand. C) a decrease in supply.
B) an increase in demand. D) an increase in supply.

13. Refer to the above diagram. A decrease in supply is depicted by a:
A) move from point x to point y. C) shift from S2 to S1.
B) shift from S1 to S2. D) move from point y to point x.

14. Refer to the above diagram. An increase in quantity supplied (as distinct from an increase in supply) is depicted by a:
A) move from point y to point x. C) shift from S2 to S1.
B) shift from S1 to S2. D) move from point x to point y.

Use the following to answer questions 15-18:

15. Refer to the above table. If demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5), equilibrium price and quantity will be:
A) $10 and 60 units. B) $9 and 50 units. C) $8 and 60 units. D) $7 and 50 units.

16. Refer to the above table. If demand is represented by columns (3) and (1) and supply is represented by columns (3) and (4), equilibrium price and quantity will be:
A) $10 and 60 units. B) $9 and 60 units. C) $8 and 80 units. D) $7 and 30 units.

17. Refer to the above table. In relation to column (3), a change from column (5) to column (4) would indicate a(n):
A) increase in demand. B) decrease in demand. C) increase in supply. D) decrease in supply.

18. Refer to the above table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were artificially set at $9, a:
A) the market would clear.
B) a surplus of 20 units would occur.
C) a shortage of 20 units would occur.
D) demand would change from columns (3) and (2) to columns (3 and (1).

19. Other things equal, an excise tax on a product will:
A) increase its supply. C) increase the quantity sold.
B) increase its price. D) increase its demand.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Online Assignment Help
Engineering Exam Guru
Engineering Help
Essay & Assignment Help
WRITING LAND
Professor Smith
Writer Writer Name Offer Chat
Online Assignment Help

ONLINE

Online Assignment Help

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$34 Chat With Writer
Engineering Exam Guru

ONLINE

Engineering Exam Guru

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$29 Chat With Writer
Engineering Help

ONLINE

Engineering Help

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$36 Chat With Writer
Essay & Assignment Help

ONLINE

Essay & Assignment Help

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$41 Chat With Writer
WRITING LAND

ONLINE

WRITING LAND

I am an elite class writer with more than 6 years of experience as an academic writer. I will provide you the 100 percent original and plagiarism-free content.

$44 Chat With Writer
Professor Smith

ONLINE

Professor Smith

I will be delighted to work on your project. As an experienced writer, I can provide you top quality, well researched, concise and error-free work within your provided deadline at very reasonable prices.

$34 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

16 24 lynette court buccan - Day of the dead nicaragua - Fair work information statement 2021 - Database - Robert kiyosaki best friend mike - Arc professional year fee - Stampy quest to eat horrible candy - Statistics - Shrinking oil can dents - The art of delegation ppt - Need a paper done 750-100 words - Griffith tb self assessment form - Ayres sensory integration training australia - Chemical bond practice problems - Examples of information systems in everyday life - Self control - Tenable io user guide - Healthcare delivery - Working capital simulation managing growth v2 answers - White hat or gray hat hacking Choose one of these areas explain why a company might benefit from hiring someone to hack into their systems. - Examples of bad technical instructions - Outline & paper - Gray stone and lawson open an accounting practice - 1984 class system quotes - Research paper on Solar Panels - Solving fractional equations homework answers - Qs 6 8 days sales uncollected lo a1 - How to do data interpretation fast - Multimedia authoring tools lecture notes - Five elements of plot - Azimuth marine port hedland - Assumptions in enthalpy experiments - Nelson manufacturing has the following data - What are the basic steps for washing hands dofoodsafely - 4 Separate Questions 350 words each - 10/1 - 01.09 macbeth plot analysis quiz - Born a crime stories from a south african childhood summary - The company's facility for assembling cameras is located in - Mlc super fund abn number - Open topped glass flask crossword clue - Core competencies of amazon company - Chicago style referencing monash - O as a amos ais an - VASHIKARAN==MANTRA= +91-9924492424 Kala Jadu Specialist Baba ji - In praise of the f word argumentative essay - Atomic theory timeline pictures - Fear in the dressmaker - Forensic accounting questions and answers pdf - The crucible matching 1 answer key - Historical context chart - Bluej exercise solutions chapter 6 - John wideman our time - Pumpkin vs watermelon leaves - Facilities management best practices - Unit 4 Quiz (HRM303) - Need help - Balancing redox equations practice - Raptor paint drying time - Girl by jamaica kincaid thesis statement - Case 43 american greetings excel - Record the pairs of data for pressure and propane volume in the table below. - Which of the following methods will measure the cost efficiency of the work accomplished to date? - Year 10 biology textbook - My si net email - Direct and indirect objects worksheet doc - What is the difference between fixed and flexible expenses - Cleanse wound crossword clue - Proposal (systematic literature review) telemedicine technology - Maria full of grace character analysis - Law exam - Edu 540 week 11 - Positive and negative aspects of a magnificent catastrophe - American History Discussion #11 - Aiha fundamentals of industrial hygiene - Nicks fish and chips wodonga - Snhu computer science software engineering - Biological characteristics in organizational behavior - On august 31 2016 merchandise inventory was - Dux prodigy hot water system pilot light - Pbs nova inside the megastorm - Hhmi biointeractive virus explorer answer key - Psychotherapy with individual - Andy cohen's got the 411 lyrics - Macon inc case study answers - Thomas jefferson on the dangers of reading fiction - Recitational questioning - Discussion: Unit 6 - Criminal Justice Power point - DISCUSSION - Escience lab 2 chemistry of life answers - Cisco 1841 router end of life - 60 second elevator pitch - Allen johnson claims that patriarchy is - ACCT 645 Project 4 - Write one page synopsis on research topic - Avery bishop jerry maguire - Wisdom sits in places chapter 4 summary - How to compute the degree of operating leverage - Twelve angry men 1997 movie