Explanation

If demand function for good X is given by X^D = 1500-1.3P,-1.8P + 2M then we know that goods X and Y are complements to each other.

Explanation

• To find the marginal cost (MC), you need to take the derivative of the cost function with respect to quantity (Q).
• Given cost function: C(Q) = 2Q^2 + 10Q + 50

Take the derivative of C(Q) with respect to Q:

• MC(Q) = dC/dd = 4Q + 10

Now, plug in the value Q = 5:

• MC(5) = 4(5) + 10 = 20 + 10 = $30.

Explanation

Frictional unemployment often occurs when people first enter the labor force.

Explanation

The aggregate demand curve slopes downward primarily due to the wealth effect, interest rate effect, and exchange rate effect.

Explanation

The biggest challenge for Pakistan's economy in 2022-23 was the rising inflation, which can significantly impact the purchasing power of citizens and overall economic stability.

Explanation

• According to the classical money theory, money is purely nominal. That is, changes in money supply will have only affect the price levels, but not the real output. Specifically, according to the quantity theory of money, we have:
• real output * price level = money supply * money velocity
• Holding money velocity constant, a reduction in money supply will reduce the price level proportionately, but has no effect on real output.
• Quantity Theory of Money: The quantity theory of money states that the product of real output and price level is equal to the product of money supply and money velocity. This theory is based on a simple equilibrium condition for the money market.

Explanation

Total revenue equals price times quantity.

Explanation

The oligopoly model concerned with the maximization of joint profit is the collusive model.

Explanation

Given own price elasticity equal to -2.5 implies that if the price of the good increases by Rs. 10, then the quantity demanded of the good Will decrease by 25% of initial quantity.

Explanation

When both the demand and supply curves shift to the right due to any reason, the quantity traded increases for sure, but nothing specific can be said about prices.