B. In each of the following cases, do you think the price elasticity of supply is (i) perfectly elastic; (ii) perfectly inelastic; (iii) elastic, but not perfectly elastic; (iv) inelastic, but not perfectly inelastic? Explain your answer.

• An increase in demand this summer for domestic travel leads to a huge jump in the price of motel rooms.
• The price of a kilowatt of electricity is the same during periods of high electricity demand as during periods of low electricity demand.
• Fewer people want to fly during February than any other month. The airlines cancel about 10% of their flights as ticket prices fall about 20% during this month.
• Owners of Airbnb vacation homes in Maine rent them out during the summer. Due to the covid pandemic, a 30% decline in the price of Airbnb rental leads more than half of homeowners to occupy their vacation homes themselves during the summer.

Provide introduction about Oman vision. And outline 4 basic principles that Oman Vision
2040 is relying on for preparing the vision 2040.

When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods.

The following graphs show the production possibilities frontiers (PPFs) for Freedonia and Lamponia. Both countries produce lemons and sugar, each initially (i.e., before specialization and trade) producing 24 million pounds of lemons and 12 million pounds of sugar, as indicated by the grey stars marked with the letter A.

Freedonia08162432404856646456484032241680SUGAR (Millions of pounds)LEMONS (Millions of pounds)PPFA

Lamponia08162432404856646456484032241680SUGAR (Millions of pounds)LEMONS (Millions of pounds)PPFA

Freedonia has a comparative advantage in the production of   , while Lamponia has a comparative advantage in the production of   . Suppose that Freedonia and Lamponia specialize in the production of the goods in which each has a comparative advantage. After specialization, the two countries can produce a total ofmillion pounds of sugar and

million pounds of lemons.

Suppose that Freedonia and Lamponia agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. The countries decide to exchange 16 million pounds of lemons for 16 million pounds of sugar. This ratio of goods is known as the price of trade between Freedonia and Lamponia.

The following graph shows the same PPF for Freedonia as before, as well as its initial consumption at point A. Place a black point (plus symbol) on the graph to indicate Freedonia's consumption after trade.

Note: Dashed drop lines will automatically extend to both axes.

FreedoniaConsumption After Trade08162432404856646456484032241680SUGAR (Millions of pounds)LEMONS (Millions of pounds)PPFA

The following graph shows the same PPF for Lamponia as before, as well as its initial consumption at point A.

As you did for Freedonia, place a black point (plus symbol) on the following graph to indicate Lamponia's consumption after trade.

LamponiaConsumption After Trade08162432404856646456484032241680SUGAR (Millions of pounds)LEMONS (Millions of pounds)PPFA

True or False: Without engaging in international trade, Freedonia and Lamponia would have been able to consume at the after-trade consumption bundles. (Hint: Base this question on the answers you previously entered on this page.)

True

False

Julia spends 60 hours a week on sleeping. The remaining 108 hours is shared between working and leisure. Julia's single employment opportunity is to wash the dishes at a restaurant, which earns her an hourly wage of 3000.

Draw the budget line such that you put the number of hours of leisure per week on the horizontal (x) axis, and the consumption per week on the vertical (y) axis.

Provide the following pieces of information.

The slope of Julia's budget line.

The budget line intersects the horizontal axis at (x,y) = (  , 0).

The budget line intersects the vertical axis at (x,y) = (0,  ).

If Julia decides to work 40 hours a week, she can spend a week on consumption.

If Julia wants to consume 150000 a week, she can afford hours of leisure a week.

Now assume that the government introduces a 20% income tax on the first 20 working hours in a week.

In this case, if Poor Tony decides to work 40 hours a week, he can spend  HUF a week on consumption.

If Poor Tony wants to consume 150000 HUF a week, now he can afford  hours of leisure a week.

Consider a consumer with preferences represented by the utility function:

u(x; y) = x^1/4y^1/2

Suppose the consumer has income M = 10 and the prices are px = 1 and py = 2.

(a) Are goods x and y both desirable?

(b) Are there implications for the utility maximization problem for the consumer from your finding in a? If so, explain in detail.

What is the impact of money growth on economy (short run, adjustment period and long run)?

1. Find an industry that spends a large amount on advertising. What affect is advertising competition likely to have on the number of firms in the industry?
2. Which industry is more concentrated, the US market for cellular service or the market for internet search engines? Explain your answer.

Write an essay of not less than 300 words on the importance of social distancing in the time of Coronavirus.

****Please follow the instructions below:
I want 300 words and
I want in the essay an introduction, a presentation and a conclusion,
and I would be grateful to you

Five interesting fact about Egypt.

The proposal should briefly answer the five W’s – who, when, where, what, why – and
provide interesting facts about Egypt.

1. For many years, the container shipping industry has had a large amount of unused capacity. Would this unused capacity make it easier or harder for firms in the industry to collude? Explain.

2. Discuss the importance of information for effective tacit collusion. What kind of information do firms need and why?

Distinguish between shutdown and exit. When does a profit-maximizing competitive firm decide to shut down? When does it decide to exit a market? Explain your answer.

1. Manufacturers who refuse to deal with retailers who do not charge a suggested retail price have committed a per se violation of the antitrust laws.

   True

   False