“The correct option is B. imports.
What is GDP?GDP (Gross domestic product) is an economic term that denotes the total monetary value of goods and services produced within the boundaries of a particular country. Based on this definition, goods or services coming from a foreign country, represented by imports are not factored in when calculating the gross domestic product (GDP) of a country.
Thus, among the listed options, only option B is correct, hence we select option B as the correct answer.
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Missing options: A. capital goods such as machinery B. imports C. the value of domestically produced services D. government purchases of goods and services E. the constr...”
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The following graph shows the market for widgets in a local hardware store.
a) identify whether the price of widgets from $8 to $7 is elastic, unit elastic, or enelastic. Explain.
b) what is the price of widgets that maximize the hardware store’s revenue? Explain.
c) The price of widget is $9. If the hardware store wants to increase its revenue, how should it change the price? Explain.
d) using the midpoint formula, calculate the price elasticity of demand for widgets when price increases from $7 to $8. Identify the coefficient as elastic, unit elastic or inelastic.
e) using the midpoint formula, calculate the price elasticity of demand for widgets when price decreases from $6 to $5. Identify the coefficient as elastic, unit elastic or inelastic.
f) based on the scenario in part E, how does the decrease in price affect the hardware store’s revenue?
The fall in price leads to a rise in total revenue, which means demand is elastic
How to illustrate the information?a. Price of widgets= $8
Total revenue= P*Q= 8*12= $96
Price= $7
Total revenue= 7*16= $112
A fall in price leads to rising in total revenue, which means demand is elastic.
b. Price=$7 maximizes the total revenue. Total revenue when price=$7, total revenue= Price* quantity= $7*12=$112.
c. When the price is equal to $9, the demand is elastic. So there should be a decrease in price in order to increase total revenue.
d. Price elasticity of demand= ((96-112)/(112+96)/2)) ÷((8-7)/(8+7)/2))
= -2.14
This is an elastic demand.
e. When price=$6, Quantity=18
When Price=$5, Quantity= 20
Price elasticity of demand= ((20-18)/(20+18)/2)) ÷((5-6)/(5+6)/2))
= - 0.58
This is a inelastic demand.
f. Total revenue falls from $108 to $100 when the price falls from $6 to $5.
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Use the box plots comparing the number of male pets and number of female pets attending doggy daycare each day for a month to answer the questions.
Two box plots shown. The top one is labeled Males. Minimum at 1, Q1 at 3, median at 10.5, Q3 at 14, maximum at 21, and a point at 30.
The bottom box plot is labeled Females. Minimum at 0, Q1 at 15, median at 18, Q3 at 21, no maximum shown
Part A: Estimate the IQR for the males' data. (2 points)
Part B: Estimate the difference between the median values of each data set. (2 points)
Part C: Describe the distribution of the data and if the mean or median would be a better measure of center for each. (4 points)
The IQR for the males' data is 25 and the difference between the median of the males' data and the female's data is 14.
What is the interquartile range?The interquartile range for the male data is the difference between the third quartile and the first quartile.
Here IQR = third quartile - first quartile
= 25 - 0 = 25
Median = 20 - 6 = 14
The distribution of the males' data is skewed to the right and the median would be a better measure of the center. The distribution of the female data is normal and the mean would be a better measure of the center.
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Sophocles uses dramatic irony in the play to affect the audience in all of the following ways except __________.
to intensify interest
to create sympathy for the protagonist
to increase suspense
to generate sympathy for the antagonist
Sophocles uses dramatic irony in the play to affect the audience in all of the following ways except to to generate sympathy for the antagonist.
Why are protagonist sympathetic?A sympathetic character is known to be a kind of a fictional character in any given story where the writer is said to believe or expects the reader to see or note along with and care about the Protagonists or others.
In the case above, Sophocles uses dramatic irony in the play to affect the audience in all of the following ways except to to generate sympathy for the antagonist.
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Answer: D. to generate sympathy for the antagonist
Explanation:
Just did the assignment
The following graph shows the market for sprockets in a local hardware store.
a) identify whether the price of sprockets from $4 - $3 is elastic, unit elastic, or inelastic. Explain.
b) what is the price of sprockets that maximize the hardware store’s revenue? Explain.
c) The price of sprockets is $1. if the hardware store wants to increase its revenue, how should it change the price? Explain.
d) using the midpoint formula, calculate the price elasticity of demand for sprockets when price increases from $2 to $3. Identify the coefficient as elastic, unit elastic, or inelastic.
e) using the midpoint formula, calculate the price elasticity of demand for sprockets when price decreases from $5 to $4. Identify the coefficient as elastic, unit elastic, or inelastic.
f) based on the scenario in part E, how does the decrease in price affect the hardware store’s revenue?
It is correct to state that the price for sprockets from $4 to $3 is inelastic. See the explanation below.
What is the calculation supporting the answer above?The formula for price elasticity is:
Price Elasticity of Demand = Percentage change in quantity / Percentage change in price.
Percentage change in quantity (for price drop of 4$ to $3) = increase ÷ original number × 100.
= (2/18) * 100
= 11.11%
Percentage change in price drop from 4$ to $3) = decrease ÷ original number × 100.
= (1/4) * 100
= 25%
Hence
Price Elasticity of Demand = 11.11%/25%
PED = 0.4444
Hence the demand is inelastic for the change in price from $4 to $3. This is because the price Elasticity is less than 1.
Because we don't have the function of the graph, we must find the revenue for all the given points.
Recall that Revenue is given as:
Price x Quantity; Hence,
From the above, it is clear that the price that maximizes the revenue the store is $4. This is because, that yields the highest revenue.
Using the midpoint formula the price elasticity of demand for sprockets when price increases for $2 to $3 is?The mid-point formula is given as:
Price Elasticity = A/B where:
A = [(Q2-Q1)/((Q2+Q1)/2)]
B = [(P2-P1)/((P2+P1)/2)]
Q2 = Final Quantity = 18
Q1 = Initial Quantity = 20
P2 = Final Price = $3
P1 = Initial Price = $2
A = [(18-20)/(18+20)/2]]
= -0.02631578947
B = [(3-2)/((2+3)/2)]
= 0.4
PED = -0.026/0.4
PED = -0.065
From the foregoing, the Coefficient is Negative and it is also less than Zero. It means that the good is inferior and the demand for it is inelastic.
Using the midpoint formula the price elasticity of demand for sprockets when price decreases for $5 to $4 is?Using the same formula above we have:
A = [(Q2-Q1)/((Q2+Q1)/2)]
B = [(P2-P1)/((P2+P1)/2)]
Q2 = Final Quantity = 16
Q1 = Initial Quantity = 10
P2 = Final Price = $4
P1 = Initial Price = $5
A = [(16-10)/(16+10)/2]]
= 0.11538461538
B = [(4-5)/(4+5)/2]]
= -0.05555555555
PED = 0.11538461538/-0.05555555555
PED = -2.08
The coefficient here is also negative but above 1. It means that the good is inferior and the price and quantity demanded are inversely related.
However, the value (2) is greater than 1, thus, the demand is elastic. This means there is a strong reaction to quantity demanded when price increases or decreases.
It is to be noted that decreasing the price as given in part E will trigger a drop in sales and a directly proportional reduction in profit. The reason for this is because, as seen in the analysis for E above the product is inferior.
When people perceive a product as inferior, a drop in price will create a substitutionary effect where they opt for a substitute good that is slightly higher.
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Below is the market for funnel cakes at a small community fair.
a) what is the equilibrium price and quantity of the funnel cakes?
b) What is the total consumer spending on funnel cakes at the equilibrium point?
c) Calculate the producer surplus and consumer surplus at equilibrium. Show your work.
d) What would be the result if the suppliers charged $6? Explain.
e) Cheese pretzels are substitute good for funnel cakes at the same fair. Draw a correctly labeled graph of the market for cheese pretzels. Shade the area of consumer surplus.
f) A large number of new guests enter the fair. Illustrate the effect of this change on the same graph from part E.
g) does the consumer surplus increase, decrease, or stay the same as a result of the change from part F? Explain.
h) A new cheese pretzel stand opens at the same fair. On a new graph, illustrate the market for cheese pretzels at this fair before and after the new stand opened.
i) if the large number of new guests entering the fair happened at the same time that the new cheese pretzel stand open how would the equilibrium price and quantity for cheese pretzels change? Explain.
The equilibrium price and quantity for the funnel cakes are:
EP = 6
EQ = 5
Note that Equilibrium price and quantity is the price and quantity where the demand and supply curve intersect.
What is the total consumer spending on funnel cakes at the equilibrium point?Total consumer spending is given by
Price x Quantity
= 30 Units
What is the producer surplus and consumer surplus at equilibrium. Show your work?The producer surplus is given by the yellow right angled triangle in the attached image. To get the producer surplus, we need to find the area of that triangle.
The Area of the triangle is given as;
1/2 b *h
= 1/2 *3 *6
= 9
Since the consumer surplus is the same dimension, hence, it is also given as
= 9
What would be the result if the suppliers charged $6?If the suppliers charged $6, there will be a cut back in the amount of units demanded to 4 units. The law of supply indicates that price and quantity are inversely proportional, all things being equal.
Large number of guests = increased demand.
Increased demand = increased price.
This is given by the law of demand. Which indicates that price and quantity are inversely proportional, all things being equal.
Does the consumer surplus increase, decrease, or stay the same as a result of the change from part F?No, there will be a shift to the right of the the demand curve, Please see the attached image.
If the large number of new guests entering the fair happened at the same time that the new cheese pretzel stand open how would the equilibrium price and quantity for cheese pretzels change?In this case, there would be a new equilibrium point given that Demand and Supply have both shifted right ward. See attached graph.
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Below is the amount of widgets that Adam, robert, and Karl are each willing to make at three different prices.
a) What is the primary incentive of each producer to make widgets?
b) What would happen to the supply of widgets if there was a technological advance that lowered the cost to make widgets? Explain.
c) Make a supply schedule for the whole market of widgets, based on these three suppliers.
d) Draw the market supply curve from the schedule in part (c). Label the curve S1.
e) On your graph from part (d), illustrate the effect of the technology advance on the supply
of widgets. Label the new curve S2.
f) Assuming the market situation from part (b), and that producers will not charge less than $1, would the quantity supplied to widgets be more or less than 11 widgets? Explain.
To answer the first question, Profit is the key motivator or primary incentive for any manufacturer to produce widgets (or any item in general).
What would happen to the supply of widgets if there was a technological advance that lowered the cost to make widgets?If advancement of technology decreases the cost of producing a widget, profitability increases, and so the quantity of widgets grows. It is to be noted that technological advancements imply increase in efficiency.
What is the supply schedule for the whole market of widgets, based on these three suppliers?
See the attached.
Where is the market supply curve from the schedule in part (c) labeled the curve S1?See attached.
Where is the graph from part (d that illustrates the effect of the technology advance on the supply of widgets and which is labelled the new curve S2?See the attached.
Assuming the market situation from part (b), and that producers will not charge less than $1, would the quantity supplied to widgets be more or less than 11 widgets?The quantity charged will increase because it is assumed that the least that can be charged is $1. When there is possibility to increase price or charge higher prices, the supply always goes up.
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True or false? mind-body dualism reduces all interior mental states to observable behavior.
Answer:
False.
Explanation:
What is mind-body dualism?
Mind-body dualism can be defined as a type of dualism which states that the mental state is able to exist outside of the human body and the body can't think, but are irreducible attributes of all mental states.
This ultimately implies that, mind-body dualism doesn't reduce all interior mental states to observable behavior.
Predict which statements are true about the intervals of the continuous function. Check all that apply.
f(x) > 0 over the interval (−, 3).
f(x) ≤ 0 over the interval [0, 2].
f(x) < 0 over the interval (−1, 1).
f(x) > 0 over the interval (–2, 0).
f(x) ≥ 0 over the interval [2, ).
The statements that are true about the intervals of the continuous function are:
f(x) ≤ 0 over the interval [0, 2]. (Option B)f(x) > 0 over the interval (–2, 0). (Option D)f(x) ≥ 0 over the interval [2, ) (option E)What is a continuous function?If a continuous function is defined differently at distinct intervals, it is said to be a piecewise continuous function.
What is the proof of the above?(a) f(x) > 0 over the interval (, 3).
Using the table of f(x), the values in (, 3) are values less than 3; i.e. -3 to 2. If f(2) = 0, then f(x) > 0 is not true
(b) f(x) ≤ 0 over the interval [0, 2].
The values in [0, 2] are values from 0 to 2; i.e. 0, 1 and 2.
If f(0) = 0, f(1) = -3 and f(2) = 0
Then, f(x) ≤ 0
(c) f(x) < 0 over the interval (−1, 1).
Using the table of f(x), the values in (-1, 1) are values between -1 and 1; i.e. 0
If f(0) = 0, then f(x) < 0 is not true
(d) f(x) > 0 over the interval (–2, 0).
Using the table of f(x), the values in (-2, 0) are values between -2 and 0; i.e. -1
If f(-1) = 3, then f(x) > 0 is true
(e) f(x) ≥ 0 over the interval [2, )
Using the table of f(x), the values in [2, ) are values from 2; i.e. 2 and 3
If f(2) = 0 and f(3) = 15, then f(x) ≥ 0 is true
Therefore, only Options B, D, and E are correct.
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Which financial tool is most important when planning for your future financial goals?
Enrolling in a high interest savings account
Creating a budget
Mortgaging a house
Taking on extra debt
Under a system of dual federalism, conflicts between state laws and federal laws are
Explain any two influences on factors of production are used by a firm
Answer:
i don't knw
Explanation:
I don't know the answer
The land is an important factor in production. It can take many different forms, ranging from agricultural land to commercial real estate. Capital enables entrepreneurs and business owners to purchase capital goods, land, or pay wages.
What is a firm?A firm is a for-profit business that typically operates as a partnership and offers professional services such as legal or accounting advice. According to the firm theory, firms exist to maximize profits.
A firm is a commercial organization that seeks to profit from the sale of goods and services.
The terms firm and business or company are interchangeable. Firms can be organized in a variety of ways, including sole proprietorships and corporations.
The land plays an important role in production. It can take many forms, including agricultural land and commercial real estate. Entrepreneurs and business owners can use capital to buy capital goods, land, or pay wages.
Thus, these are the factors of production that are used by a firm.
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Roger can use his existing resources to produce the following combinations of goods. Based on this information, which of the following statements is true?
a) The opportunity cost is constant for producing bicycles
b) Roger should specialize in bicycles
c) Roger should specialize in skateboards
d) the opportunity cost of the third bicycle is five skateboards
e) Roger enjoys an absolute advantage in the production of skateboards
The answer choice which is true that Roger enjoys an absolute advantage in the production of skateboards
What is absolute advantage?Absolute advantage can be defined as the ability of a party to produce a good or service more efficiently than its competitors.
In conclusion, Roger enjoys an absolute advantage in the production of skateboards
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Answer:
The opportunity cost of the third bicycle is 5 skateboards.
Explanation:
23. Solve by graphing: 4x³-9x+2 > 0.
Answer:
Please see attachment below.
Explanation:
The answer as a graph is shown below.
Hope this helps!
how is technology improving the standard of living in this world
There are many possible answers to this question. A couple of improvements could be:
- Increased ease in communication
- Can improve security mechanisms in the home and workplace, making people feel safer
- Allows for a digital exchange of money, making for an ease of payment
- Increased marketing and advertisement abilities for companies, allowing for businesses to thrive
- Increased capacity for work-from-home careers
- Improved health using fitness trackers or biofeedback tools
The following graph shows the market for sprockets in a local hardware store.
a) identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or enelastic. Explain.
b) what is the price of sprockets that maximize the hardware store’s revenue? Explain.
c) The price of sprockets is $1. If the hardware store wants to increase its revenue, how should it change the price? Explain.
d) using the midpoint formula, calculate the price elasticity of demand for sprockets when price increases from $2 to $3. Identify the coefficient as elastic, unit elastic or inelastic.
e) using the midpoint formula, calculate the price elasticity of demand for sprockets when price decreases from $5 to $4. Identify the coefficient as elastic, unit elastic or inelastic.
f) based on the scenario in part E, how does the decrease in price affect the hardware store’s revenue?
The fall in price leads to rise in total revenue and this means the demand is elastic.
How to illustrate the information?Price of widgets= $8
Total revenue= P*Q= 8*12= $96
Price= $7
Total revenue= 7*16= $112
Fall in price leads to rise in total revenue, it means demand is elastic.
b. Price = $7 maximizes the total revenue. Total revenue when price=$7, total revenue = Price* quantity
= $7 × 16=$112.
c. When the price is equal to $9, the demand is elastic. Therefore, there should be a decrease in price in order to increase total revenue.
d. Price elasticity of demand= ((96-112)/(112+96)/2)) ÷((8-7)/(8+7)/2))
= -2.14
This is an elastic demand.
e. When price=$6, Quantity=18
When Price=$5, Quantity= 20
Price elasticity of demand= ((20-18)/(20+18)/2)) ÷((5-6)/(5+6)/2))
= - 0.58
This is an inelastic demand.
f. Total revenue falls from $108 to $100 when the price falls from $6 to $5.
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Kai cuts her foot while hiking. She forgot to pack bandages, but she has a tube of superglue and
uses that to seal the wound. Kai's ability to invent a solution uses the
intelligence
component of the triarchic theory of intelligence.
analytical
functional
Practical
fluid
it’s not functional
Answer:analytical
Explanation:
bc she analyzed the wound and decided to use super glue
Kai's ability to invent a solution uses the analytical intelligence component of the triarchic theory of intelligence. Thus, option A is correct.
What is the Triarchic theory of intelligence?Triarchic theory of intelligence explains the connection here between an individual's personal internal or external worlds as well as the function of experiencing aids experienced teachers in comprehending the constantly changing and interconnected properties of human cognition and its prospective impact on daily life.
Hiking causes Kai to slash her foot. She doesn't have any gauze in her bag, but she does have a tube of superglue, which she utilizes to secure the wound.
She shows encompasses academic work, analytical skills, and divergent thinking. Analytical intelligence is used every time someone has to do work that calls for one to evaluate, compared, assess, evaluate, or arrive at a logical decision.
Therefore, option A is the correct option.
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What evidence is there that the earth is flat.
Answer:
No Evidence That Earth is Flat coz it is always spherical
Social prescriptions for women's behaviors and attitudes.
Social prescriptions for women's behaviors and attitudes are expressive role. They are a social prescription that are targeted toward females, that they need to be cooperative, kind and also sensitive to others needs.
What are some female behaviors?This is known to be how a woman should behave or carry themselves in the society.
It is made up of they should be passive, soft, graceful, nurturing, and others. Note that Social prescriptions for women's behaviors and attitudes are expressive role. They are a social prescription that are targeted toward females, that they need to be cooperative, kind and also sensitive to others needs.
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Using three (3) different scenarios, explain why a critical thinker is advised to bracket metaphorical, proverbial, and other forms of symbolic language.
The reason why a critical thinker is advised to bracket metaphorical, proverbial, and other forms of symbolic language.
Because language are symbolic in nature.It can be used as a quote.It connote a sense of belonging.Why is language vital in critical thinking?Language and language diversity is known to be an aspect that have a huge role in regards to critical thinking and all of its processes.
Note that Language is the key device one can use to communicate via symbols of what we think, experience, etc. Hence, The reason why a critical thinker is advised to bracket metaphorical, proverbial, and other forms of symbolic language.
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Why is it important, regarding quality assurance, for your rabbit to be permanently tattooed
It is important, regarding quality assurance, for your rabbit to be permanently tattooed because it provides permanent identification for that rabbit.
What is importance of tattooed on animals?A legible tattoo in a rabbit's can help to provides permanent identification for that animal.
It should be noted that American Rabbit Breeders Association (ARBA) shows, that the personal tattoo must be put in the rabbit's left ear.
Hence, It is important, regarding quality assurance, for your rabbit to be permanently tattooed because it provides permanent identification for that rabbit.
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