📘 economics

1. **Problem:** Calculate the price elasticity of demand when price decreases from 9 to 7. 2. **Formula:** Price elasticity of demand (PED) is given by:

1. The problem asks about the relevance of opportunity cost and the criteria for dropping a segment. 2. Opportunity cost is the value of the next best alternative foregone when mak

1. The problem asks: What is the definition of opportunity cost? 2. Opportunity cost is a concept in economics that refers to the value of the next best alternative that is foregon

1. The problem asks: What are sunk costs? 2. Sunk costs are costs that have already been incurred and cannot be recovered.

1. **Stating the problem:** We have price points $P = 10000, 13000, 15000$ with corresponding demand (Permintaan) and supply (Penawaran) values:

1. **State the problem:** We want to find the slope of the budget constraint line for Jacques' spending on candy bars and eggs. 2. **Recall the budget line equation:** From previou

1. **Stating the problem:** We are given that in 2023, the average daily oil production on the Norwegian continental shelf was 1.794 million barrels (fat), where 1 barrel ≈ 159 lit

1. **Problem Statement:** Perform a Leontief input-output model analysis for Milkpack company using assumed data. 2. **Leontief Model Overview:** The Leontief input-output model is

1. **State the problem:** We need to calculate the Herfindahl-Hirschman Index (HHI) for three markets (A, B, and C) using the sales data provided. The HHI measures market concentra

1. **State the problem:** We need to calculate the four-firm concentration ratio (CR-4) for the given market. The CR-4 measures the market share of the top four firms combined. 2.

1. **Problem statement:** Find the market equilibrium price $p^*$ and quantity $t^*$ by solving the system where supply price equals demand price, then calculate the producer and c

1. **State the problem:** Mr. White has $50,000 and can invest it with a 70% chance to grow to $70,000 and a 30% chance to shrink to $20,000.

1. **State the problem:** Jacques has a weekly budget of 24 to spend on candy bars and eggs. Candy bars cost 2 per pack, eggs cost 6 per dozen. We want to find how many packs or do

1. The problem asks to explain the meaning of "trade 1 ten for 10 units." 2. This phrase typically refers to exchanging one item or quantity called "ten" for ten smaller units.

1. **Problem Statement:** Calculate the own-price, cross-price, and income elasticities of demand for Martabak Power using the estimated demand function and mean values of variable

1. **Problem Statement:** We want to find the number of air conditioning units $q$ that ZamFlow should produce each month to maximize profit. Given:

1. The problem is to analyze the marginal cost function $$MC = 15Q - 6Q^2 + 10$$ where $Q$ is the quantity of units produced, and there is a fixed cost of 20. 2. Marginal cost (MC)

1. **Problem statement:** We have a firm producing two goods A and B with daily cost function $$C(x,y)=0.04x^2 - 0.01xy + 0.01y^2 + 4x + 2y + 500$$ where $x>0$ and $y>0$ are units

1. **Stating the problem:** We want to understand what profit maximization means in economics and how it is determined mathematically. 2. **Definition:** Profit maximization is the

1. **Problem Statement:** We want to find the number of laptops $x$ to sell in order to maximize profit.

1. **State the problem:** We have a linear demand function with two points: price $p=220$ when quantity demanded $q=40$, and price $p=240$ when $q=30$. The total cost function is g