Use the following to answer questions 6-10:

Suppose that firms 1, and 2 are Cournot duopolists in the salt industry. The market demand curve can be specified as Q=20-p, Q=q₁₊q₂

(The firms choose their quantities simultaneously.)

The cost to firm 1 is C(q₁)=1q₁.

The cost to firm 2 is C(q₂)=2q₂.

6)   Find Firm 1 optimal production levels q1=?.

Select one:

a.
  0<q1<2

b.
2<q1<4

c.
  4<q1<6

d.
6<q1

e.
None of the above

7)    Find Firm 2 optimal production levels q2=?.

Select one:

a.
0<q2<2

b.
2<q2<4

c.
  4<q2<6

d.
6<q2

e.
  None of the above

8)   Determine the equilibrium price? (p=?)

Select one:

a.
  0<P<3

b.
3<P<4

c.
  4<P<5

d.
  5<P

e. None of the above

9) Firm 1 will earn? (pi1=?)

Select one:

a.
  0<Pi1<10

b.
  10<Pi1<20

c.
  20<Pi1<22

d.
  22<Pi1<23

e.
  None of the above

10)   Firm 2 will earn? (pi2=?)

Select one:

a.
0<Pi2<10

b.
10<Pi2<20

c.
  20<Pi2<22

d.
  22<Pi2<23

e.
None of the above

Q1. Which of the following is directly included in the U.S. GDP for 2020?

i. 2020 Cadillac Escalade produced and sold as a new car in the United States in 2020

ii. tires produced in the United States, purchased by General Motors, and installed on a new Cadillac Escalade sold in 2020

iii. General Motors cars produced in Canada because General Motors is an American corporation.

Q2. As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by

a. only the value of the output produced by the newly working women.

b. only the value of the household work they are now hiring someone to perform.

c. the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform.

d. the value of the output produced by the newly working women minus the value of the household work they were previously performing.

Q3. The base year is 2018. A country only produces Blu-ray players. The price of a Blu-ray player in 2018 was $100. The price of a Blu-ray player was $90 in 2019. The quantity of Blu-ray players produced in 2018 was 10,000 units and in 2019 was 10,500 units. Nominal GDP in 2018 was____, real GDP in 2018 was, nominal GDP in 2019 was _____and real GDP in 2019 equals_____.

Group of answer choices

a. $1,000,000; $1,000,000; $945,000; $1,050,000

b. $1,050,000; $1,000,000; $900,000; $945,000

c. $945,000; $900,000; $1,000,000; $1,050,000

d. $900,000; $945,000; $1,050,000; $1,000,000

You have just been elected president of the United States, and the present Chair of the Federal Reserve Board has resigned. You need to appoint a new person to this position, as well as a person to chair your Council of Economic Advisers. Using your knowledge of macroeconomics, identify the personal characteristics and the views on macro theory and policy you would want your appointees to have and implement.   Remember, the economic health of the entire nation and solution to keeping the economy growing will be impacted by this decision.

As you know, during the Great Recession, the Fed proposed a number of "bail out" measures to address the “great recession”. In the second part of your paper, indicate why or why not you would recommend that your new appointee use similar measures if this situation arises again. Should the Fed have a bond-buying program? Identify any new policies that you would like your candidate to follow.

What new opportunities do Artificial intelligence technologies create, and what responses are needed to ensure positive economic effects, inclusivity and equal access to benefits?

This is AI and robots related question, please explain me in details and the major points, please help, needs to understand this!  

Exhibit 25-3

​

Refer to Exhibit 25-3. The four-firm concentration ratio for this industry is

Refer to Exhibit 25-3. The Herfindahl Index for this industry is currently

Refer to Exhibit 25-3. The Justice Department would consider this industry to be

Assume there are two firms in two different industries. The marginal cost of the first firm is $30, and its price is $38. The marginal cost of the second firm is $22, and its price is $26. Calculate first the Lerner Index for each firm. Then use it to calculate the markup factor for each firm. Which firm has a higher markup factor over marginal cost?

Please explain your answer

Describe the effects of a monopolist choosing to discriminate between two markets (assume a starting condition of equal prices in both markets). Is it always possible to profit from this kind of discrimination? Does elasticity matter? How should quantities be adjusted?

Answer the following questions about monopolists.

1. What are the three reasons why monopolies arise? Give one example of a firm that is a monopoly and the reason why it is a monopoly.

2. How does a monopolist determine its profit-maximizing level of output? How does it determine the price that it charges?

One of the goals of the Affordable Care Act (ACA) was to increase insurance coverage through a variety of policies. The ACA was largely successful in reducing the number of uninsured in the US. How would this affect the demand for medical care? Would healthcare consumption increase or decrease? Would we expect this to increase or decrease the price of care? Explain why, theoretically, it is ambiguous that increased insurance coverage could increase or decrease health.

Suppose Boston wants to reduce childhood obesity. As part of its plan, the city would impose a tax on sugary drinks like soda, Gatorade, etc because their consumption has been associated with childhood obesity, however, the tax would be applied statewide. The tax would be paid by suppliers. According to standard economic theory, how would the tax affect the market equilibrium price and quantity of soda sold in Boston? Do you think the tax would be effective in reducing childhood soda consumption in Boston? Would it be effective in reducing childhood obesity in Boston (assume that soda consumption does increase obesity)? Explain.

How much must be deposited in an account to have annual withdrawals of $ 2607 forever? Interest is compounded quarterly and the interest rate is 9% for the first 13 years and 15 % thereafter.

The answer is close to

   PX = $9500   PY = $10000   I = $15000   A = $170000   W = 160
This function is:
       Qs = 89830 -40PS +20PX +15PY +2I +.001A +10W

1. Use the above to calculate the arc price elasticity of demand between PS = $8000 and PS = $7000. The arc elasticity formula is:
Ep= Q/P8 * P1+P1/Q1+Q2
  
2. Calculate the quantity demanded at each of the above prices and revenue that will result if the quantity is sold (fill in table below).  
PS     QS   Revenue
$8000      
$7000      

3.   Marketing suggests lowering the price PS from $8000 to $7000. The size of the elasticity coefficient in #1 should tell you what is likely to happen to revenue. Explain why this is (or is not) a good marketing suggestion from a revenue viewpoint (note: your answer in #1 and the calculations in #2 should be giving the same message). If the implications in #1 and #2 differ, does the difference make sense (or did you make a mistake in #1 or #2)?

4.   Calculate the point price elasticity of demand for Smooth Sailing boats at PS = $8000 (which should make QS = 141600). Does this elasticity value indicate that demand for Smooth Sailing boats is relatively elastic? Explain why or why not. The formula is:
Qs/Px *Ps/Qs

5.   Calculate the point cross-price elasticity of demand between Qs and Px with Px = $9500. Use Qs corresponding to Ps = 8000. Other variables and their values are as given at the top, before question #1. Does this elasticity indicate that the demand for Smooth Sailing’s boats is relatively responsive to changes in Px? Explain why or why not. The formula is:

Esx= QS/Px*Px/Qs

6. Calculate the point cross-price elasticity of demand between QS and Py, given that Py = 10000 and that PS = $7500 (thus QS should equal 161,600). Other variables are as given at the top before #1. Does this elasticity indicate that the demand for Smooth Sailing boats is relatively responsive to changes in Py? Explain why or why not. The formula is:
Esy= Qs/Py *Py/Qs

Using applicable models, do a critical analysis of permanent income hypothesis and random walk models and the difference between the two model