What is the money income of individuals

Assignment Help Microeconomics
Reference no: EM13314522

Suppose individuals own all businesses and economic resources, government does not tax or spend, and the business sector produces 500 units at an average price of $1.50 per unit.

a. What is the money value of output?

b. What is the money income of individuals?

c. Find consumer spending when individuals spend 90 percent of their income.

d. What money revenues are received by the business sector from consumer spending?

e. What is the relationship of the cost of producing output and the money receipts of businesses when there are only consumer expenditures? What should happen to the level of output?

Reference no: EM13314522

Questions Cloud

Explain 5-hexanediol instead of hydrochloric acid : Could this from if sulfuric acid was added to 2,5-dimethyl-2,5-hexanediol instead of hydrochloric acid. why
What is the magnetic energy density due to this field : The largest constant magnetic field achieved in the laboratoryis about 40 T. What is the magnetic energy density due to this field
Find the required damping constant for the system : A spring oscillator is designed with a mass of 0.130 kg. It operates while immersed in a damping fluid, Find the required damping constant for the system
How far from the edge of the piano does cat strikes floor : A cat jumps off a piano that is 1.3 meters high. How far from the edge of the piano does the cat strikes the floor
What is the money income of individuals : What is the relationship of the cost of producing output and the money receipts of businesses when there are only consumer expenditures? What should happen to the level of output?
Create an external dtd that dictates a relational model : Create an external DTD that dictates a relational model-like data structure for XML documents.
What is the shoe tips angular velocity : To kick a football, the kicker rotates his leg about the hip joint. If the velocity of the the kickers shoe is 30.3 m / s and the hip joint is 1.24 m from the tip of the shoe, what is the shoe tip\'s angular velocity
There is an increase in vacancy rates in commercial : Variables other than the rate of interest affect gross investment. Changes in these other variables cause investment demand to shift downward or upward. What should happen to the economy’s investment demand when there is a change in the following var..
What is the magnitude of the lift force acting on the plane : A jet airplane is in level flight. The mass of the airplane is m = 8950 kg. What is the magnitude of the lift force acting on the plane

Reviews

Write a Review

Microeconomics Questions & Answers

  Why to sell off deebeers entire inventory of diamonds

In a recent policy change, DeBeers has decided to: abandon its policy of profit maximization. purchase the entire output of other mines and withhold diamonds from the market to bolster diamond prices. promote "premium diamonds"

  What would likely be the best entry mode

We typically focus on firms from well-developed economies entering markets of less developed economies. Do firms from less developed economies have a chance of success if they enter developed markets such as the United States What competitive adva..

  Indicate the importance of the major component of population

Discuss and indicate the importance of the major components of population growth from 1800 to the present. Give socio-economic explanations for the major changes in each component.

  Income-elasticity of demand coefficient

Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity,price) points of (50, $10) and (54, $8).

  What is the first order condition for profit maximization

What is the first order condition for profit maximization for firm 1? compute the optimum quantity x1 for firm 1 as function of quantities x2 and x3.

  Analysis of price change of product-supply and demand

Use demand and supply analysis to illustrate the changes in chicken prices described in the article. Describe what has happened in the corn and soybean-meal markets and how that has influenced the chicken market.

  Explain shortage and surplus in market

a.) Illustrate using a fully labeled supply and demand graph (label all the axes and any lines you put in your graph) what such an artificial price looks like. b.) Explain what the results of such a move are for the graham cracker market. ..

  Explain why the short-run aggregate supply curve

Explain why the short-run aggregate supply curve is not vertical, but the long-run aggregate supply curve is vertical.

  What will be the profit maximizing prices

What will be the profit maximizing prices and the firm's profit, if the proposal of the marketing manager is accepted and calculate the profit maximizing price of the full package? What is the firm's profit in this case

  Determining short-run firm supply

Make a table showing Mankato's marginal cost of newsprint production. Find out the minimum price necessary for Mankato to supply one ton of newsprint?

  Determine demand and revenue equation

Results for Linear Demand Curve Estimation. Kenny Mcormick manages a 100-unit apartment building and knows from experience that all units willbe occupied if rent is $900 per month.

  Explain various costs that affect the company

Analyze the past, current, and future cost considerations of the company and, on the basis of your costs analysis, create a list of strategies to enhance the company's profit. In your analysis, include the following information about the various c..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd