Can I get the answers to these with work shown? 2, 3, 4, and 5 only please.

1. The following two linear functions represent a market (thus one is a supply function, the other a demand function). Circle the answer closest to being correct. Approximately what will the quantity demanded be if the government controls the market price to be $1.50 (You must first find the market equilibrium price and quantity in order to see how the $1.50 relates to them)?

Q = 100 – 4.6P and Q = 75 + 6.2P

Qd=100-4.6P Qs=75+6.2P P=$1.50

Qd=Qs 100-4.6P=75+6.2P = 25=10.8P P=2.31

P=1.50 Qd=100-4.6P =100-4.6(1.5) =100-6.9 =93.1

2. There has been a change in the market (represented in 1 above). The change is represented by the following two equations. Circle the one correct conclusion that describes the market change.

Q = 85 + 6.2P and Q = 100 – 4.6P

3. Circle the function on the answer sheet that represents the marginal revenue (MR) function for this demand function: Q = 100 – 3P

4. Circle the quantity that maximizes total revenue (TR) for the marginal revenue (MR) function selected in number three (3).

5. If supply decreases and demand also increases, we can conclude that the new equilibrium:

The country of Turkey, between 1988 and 2003 had inflation of about 60%

per year, peaking at 125% in the mid-1990s. What was its likely cause?

Suppose that the demand curve for barley can be characterized by the equation P = 100 - 2Qd. Suppose further that price was $10.00 and a $10.00 tax is imposed on the market. a) How many barleys would be purchased at a price of $10.00? After tax? b) What is the amount of tax revenue generated by the tax? c) How much excess burden is generated by the tax? d) What is the amount of consumer surplus before and after the tax? What is the difference in consumer surplus? Is it equal to excess burden plus the tax revenue?

You are attending a conference of business leaders in Vancouver and you have been asked to defend the high tax regime in Canada. In the form of a speech, beginning with “Dear Ladies and Gentlemen,...” defend the high taxation of 31% national average in the country.

Use the cost/benefit analysis discussed in class as part of your defense. In the course of your defense, be sure to discuss at least two tax categories in support. You can also use the impressive economy/financial response of the Canadian government in the ongoing COVID-19 health crisis as part of your support. (Please note that one, two or three lines responses would not have enough details to give you good marks on this question. The more details the more chances of good marks.) .

The demand for the product of a typical firm in a monopolistically competitive market tends to be more price inelastic than the demand for the product of a monopolist. Do you agree or disagree?

How do changes in monetary policies affect aggregate demand and aggregate supply?

explain the difference between a change in quantity demanded and a change in demand

explain the difference between a change in quantity supplied and a change in Supply

if Mary's demand for a $5 cup of coffee is 2 cups of coffee and wings demand $45 cup of coffee is 3 cups of coffee what is the market demand for a $5 cup of coffee

what is the law of demand state

what is the relationship between price and quantity supplied

explain how each of the events affect Supply or the demand for pizza

the price of mozzarella increases

health hazards of hamburgers are widely publicized

the price of a tomato sauce Falls

the incomes of consumers rise and pizza is a normal good

consumers expect the price of pizza to fall next week

A new electric saw for cutting small pieces of lumber in a furniture manufacturing plant has a cost basis of $6,000 and a 10-year depreciable life. The estimated SV of the saw is zero at the end of 10 years. Use the DB method to calculate the annual depreciation amounts when:
(a) R = 2/N (200% DB method)

(b) R = 1.5/N (150% DB method)

(a) Using the Aggregate Demand (AD) model diagram, illustrate what happens to the equilibrium level of aggregate output when the Federal Reserve (Fed) engages in a tightening of monetary policy. Make sure you properly label all the axes and curves.

(b) Would the Federal Reserve be more likely to engage in a tightening of monetary policy during an expansion or recession? Explain in one sentence.

(c) Has the Federal Reserve recently (past 1-2 months) been engaging in a tightening of monetary policy (yes or no)? Explain in one sentence.

We have discussed that country’s sustained economic growth depends mostly on rising (labor) productivity. Describe two ways how a country can increase its productivity.

1. If an economy suffers from unanticipated deflation, then

2. In the classical model, an increase in the demand for labor leads to

3. An increase in the supply of labor through immigration leads to an increase in real wages and an increase in the quantity of labor.

a. True

b. False

1. Purchasing Power Parity theory

2. Suppose that an ounce of gold sells for $2000 in the United States and 1000 euros in France. A euro currently trades for $1.50 . it costs $100 to ship an ounce of gold between the two countries. Assume it is legal to buy and ship gold in both countries. Then

3. Suppose that Laborland has a population of 100 people. Five people are under 16 years of age and five people are retired. Ten people have given up looking for work. Sixty people are actively employed and 20 people are actively seeking work. If five of those give up looking for work, then

If the daily marginal cost of security guards is $500, what is the socially optimal number of security guards for the community?