Explain why the profit maximising price and quantity for a price-setting firm (in a market where it can only set one price) will result in an outcome that can be considered Pareto inefficient.
Q: All of the following are forms of business associations, EXCEPT: A: Joint venture B: General…
A: Business associations are non-profit groups that bring together local business owners. Small…
Q: Identify three factors that are likely to affect the price elasticity of supply for rice. Clearly…
A: The supply price elasticity of a good or service is calculated in reaction to a change in its market…
Q: The following equations describe a certain economy C = 400 + 0 . 75 Y d → consumption function I =…
A: GDP is known as the gross domestic product of any economy. GDP is the value of all final goods and…
Q: President Bloen's Economic Adviser claims that American business are prospering based on the protit…
A: A profit function to be valid it should contain following properties - non-decreasing in output…
Q: Elaborate the contemporary changing work culture in light of ever changing/advancing technologies…
A: Traditional job features (in the sense of traditional employer-employee relationship) such as…
Q: 22.) Consider a market subject to a negative externality cause by pollution. Suppose that,…
A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
Q: III. In a particular very small region, the consumer price index, C, depends on the current value of…
A: We are going to use growth theory concept to answer this question
Q: Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure…
A: Government purchases encompass any spending via way of means of federal, state, and nearby agencies,…
Q: true or false: 21) The indivisible reserve of savings and credit cooperatives is NOT covered by…
A: A contract between an insurance company and a policyholder under which the latter receives financial…
Q: Given the demand and supply functions, determine the price elasticity of demand and price elasticity…
A: The formula for elasticity is given by: e = dQdP x PQ So our demand function is : Qd = 10 - (1/2)P…
Q: Home's demand curve for wheat is D= 100 - 20P. Its supply curve is S= 20 + 20P. 3. Home imposes…
A: A core economic concept is the buying and selling of commodities and services with remuneration paid…
Q: Quantity of additional output arising from additional input is measured using Marginal Product. O…
A: The amount of products or the services that is produced in a certain time period is known as output…
Q: Ch.4 Homework Assignment: Instructions: Answer the question(s) or solve the problem(s) below. Show…
A: The number of dollars that can be exchanged for a specific quantity of a given commodity is known as…
Q: Refer to the table below for the following question. Suppose this economy has labor force…
A:
Q: QUESTION 26 You are facing a problem with one of your contractors, and you didn't reach an agreement…
A: At the marketplace, when two parties are trying to make a deal, they negotiate with each other to…
Q: uestion 3 In 2,010, the average price of a certain industrial material was SR 16.08 per liter.…
A:
Q: would you be able to finish the remaining blank slots?
A: The monetary policies refer to the policies of the central banking system of the economy. The…
Q: If the monetary base is $1,000, the reserve-deposit ratio is 0.1 and the currency deposit ratio is…
A: The money multiplier is the mechanism that tells us about how much of the monetary base of any…
Q: Briefly describe how Nike failed to promote a healthy intercultural and diverse communication…
A: Cultural environment refers to human activities as well as their relationships and interactions with…
Q: he graph below represents the labor supply curve of a monopsonistic firm. If the firm above hired…
A: A monoponistic firm hires labor at the intersection point of MFCL and MRPL, and pays a wage on the…
Q: Determine whether demand for each of the following product is either price elastic or price…
A: Since you have posted a question with multiple sub-parts, we will solve first three subpart for you.…
Q: Elasticity Analysis: Answer the questions and show your solutions by illustrating a graph supporting…
A: In economics, the term "total revenue" refers to the sum of a company's sales, which may be computed…
Q: In the Cournot duopoly model, each firm assumes that (select all that applies) a. Group of…
A: "Cournot duopoly model is a kind of imperfect competition between two firms in which two firms with…
Q: ontrast Market concentration and market competition on a spectrum of market structures and recommend…
A:
Q: Your current task assumes that the average handle time (AHT) for call center employees affects how…
A: The answer is - b. HR logic
Q: People should buy bonds when they think that interest rates are as high as they will go.
A: A bond is a financial instrument that allows an issuer to raise capital by borrowing money from…
Q: A fixed asset costing $80,000 and having an estimated salvage value of $6000 has a life expectancy…
A: Asset costing $80,000 Salvage value of $6000 N = 10 years.
Q: Price of TextilesQuantity of TextilesDemand Supply PWPW+TABCDEFGQS,1QS,2QD,2QD,1 Having…
A: As we know, with a consumption tax equivalent to a tariff the demand curve will shift downwards by…
Q: Economics Question 9 Consider the IS curve Y ā - 6(R – F). T)), where b = 2, = 1/5, and R - ř =…
A: Answer to the question is as follows:
Q: true or false: 21) The indivisible reserve of savings and credit cooperatives is NOT covered by…
A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
Q: In the market for used cars, the demand and supply equations are given by Qd = 12,000 – 0.4P and Qs…
A: Deadweight loss is the loss or cost arise due to inefficiency or when government levied taxes or…
Q: A company is considering constructing a plant to manufacture a proposed new product. The land costs…
A: Given that Land cost=P300000 Building Cost =P600000 Equipment Cost= P250,000 Additional working…
Q: Consider the total cost and total revenue given in the following table: Quant Total Total Prof…
A: Give firm has costs and revenues for different levels of output.
Q: Arona would like to receive $15,820 each year for the next 5 years, starting today. Then she hopes…
A: Because payment is due today or at the starting of the year, this is annuity due problem. For PW =…
Q: 21. Consider the market for jigsaw puzzles, which provide a delightful way to spend time indoors if…
A: This situation is about the market for jigsaw puzzles, which provide a delightful way to spend time…
Q: National Income Statistics for ABC in 2022 ITEMS MILLION Agriculture 10000 Mining and quarrying 1500…
A: The measure that depicts the value of services and goods that are being produced within a given time…
Q: Economics Supposes Monopharm wants to maximize profit, what quantity does it sell, what price does…
A:
Q: Currently the real interest rate is 1%. Expected future inflation rate was initially 3% but rose to…
A: According to Fisher's Effect:- r=i-π where; r= real interest…
Q: Answer the following questions regarding elasticity When Jake’s income increases from $400 to…
A: In economics, elasticity measures the percentage change of one economic variable in response to a…
Q: Can you answer me as soon as possible urgent . In early April, Mr Chan went for a five-day trip in…
A: Answer a. The purpose of travel of Mr Chan is to explore Singapore in five days and to visit only…
Q: How long does it take for $8,000 to become $12,500 when the interest rate is 8% per year. (ABET,…
A:
Q: The peak of the Total Product curve relates that a. Maximum output of production b. Maximum…
A: "Marginal product indicates additional output produced when one more unit of variable input is…
Q: A firm has the following average variable cost equation. AVC = 60 - 15Q+ Q2 And the average total…
A: Given, Average variable cost= 60-150Q+Q²Total variable cost = AVC×QTVC= 60Q-15Q²+Q³TVC at Q= 40TVC=…
Q: There are two firms, A and B emitting sulfur dioxide. In total, they emit 100 tons of sulfur…
A: In total, Firm A and Firm B emit 100 tons of sulfur dioxide. The EPA wants to reduce the level of…
Q: ce sheet Assets Liabilities Required reserves Excess reserves Loans $11 $31 $80 Checkable deposits…
A: *Answer: bank is considered as the financial institution that have licenses to receive deposits and…
Q: Explain and discuss the relationship between the elasticity of demand for the product and the…
A: 1. The relationship between the elasticity of demand for the product and the elasticity of demand…
Q: Câu 2: Assignments CAR is a measurement of a bank's available capital expressed as a percentage of a…
A: A bank's capital adequacy ratio (CAR) is a proportion of its risk-weighted credit exposures in the…
Q: Rand's remarkable resilience inflicts pain on its doubters The rand seems to no longer follow the…
A: Exchange rate: The exchange rate of an economy is the rate at which the local currency's value is…
Q: When J employs D to sew 100 pieces of barong, what contract is created? A. Agency to sell B.…
A: A contract is an agreement between private parties that creates legally enforceable mutual…
Q: Since the supply curve intersects the horizontal axis, all of the points along the supply curve…
A: The elasticity of supply measures the responsiveness of change in quantity supply to change in…
Step by step
Solved in 2 steps
- Suppose market demand for mobile operators is expressed by Q=90-3P where Q is measured by calls in hours. There are three firms that supply the market: TRCell,VFone, and Avea .Avea provide hourly calls at a unit cost of 20$, where as TRCell& VFone has a unit cost equal to 10 Suppose firms are competing in price( no capacity constraints ) a) What is the market price? Why? b) How much does each firm sell in Bertrand equilibrium? c) What are firms’ profits? Is there any way for all firms to get higher profitsMango Systems believes that demand for its pet e-mouse follows a linear demand equation: Quantity = 43,911 - 708* Price Mango's variable cost to produce one pet e-mouse is $23.50. Find the maximum total contribution margin (margin per unit times quantity sold) that Mango Systems can possibly achieve on its pet e-mouse. (Rounding: penny.) Your Answer:Based on Zangwill (1992). Murray Manufacturing runs a day shift and a night shift. Regardless of the number of units produced, the only production cost during a shift is a setup cost. It costs $8000 to run the day shift and $4500 to run the night shift. Demand for the next two days is as follows: day 1, 2000; night 1, 3000; day 2, 2000; night 2, 3000. It costs $1 per unit to hold a unit in inventory for a shift. a. Determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. (Note: Not all shifts have to be run.) b. After listening to a seminar on the virtues of the Japanese theory of production, Murray has cut the setup cost of its day shift to $1000 per shift and the setup cost of its night shift to $3500 per shift. Now determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. Show that the decrease in setup costs has actually raised the average inventory level. Is this…
- Will a profit-maximizing firm in a competitive market ever produce a positive level of output in the range where the marginal cost is falling? Give an explanation.Suppose the quantity of apples supplied in yourmarket is 2,400. If there are 60 apple producers,each with identical cost structures, how manyapples does each producer supply to the market?Consider the graph above. If the demand curve intersects the marginal & average cost curve at 100 units, calculate the profit-maximizing quantity. Profit-maximizing quantity = Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Suppose you are the marketing manager for Fruit of the Loom. An individual's inverse demand for Fruit of the Loom women's underwear is estimated to be P = 25 − 3Q (in cents). If the cost to Fruit of the Loom to produce an item of women's underwear is C(Q) = 1 + 4Q (in cents), compute the profit Fruit of the Loom will earn by charging the optimal block price. a. $108.50 b. $0.73 c. $1.37 d. $136.50Do you agree with the following statement? Give reasons with a complete explanation for your answer. Production possibilities frontiers can shift upwards without an increase in resources. The demand for a commodity increase when the price of its substitute increases. The income elasticity of the demand for luxury goods is always positive. Under perfect competition, a firm fix its price where its AR=MRUsing the graph on the next page, do the following problems: Determine the profit maximizing level of output when the market price for the good is $75/unit. Show this on the graph by making the appropriate drawing (with a straight-edge). Also, write the number (an appropriate estimate should be made) below the graph. • On the graph, show the maximum total profit that can be generated by the firm based on the market price. Do NOT calculate the value - show the appropriate box on the graph. Be careful in your (straight) lines. Be clear as to the part of the graph that represents the profit. Use shading as appropriate. • Below the graph, write the interpretation of the values of the marginal cost (MC) and the average total cost (ATC) at the profit-maximizing level of output; make sure to use all the appropriate names and units. Write the values and interpretations below the graph. • Answer the following questions: If the market price of the good falls, the profit maximizing level of…
- Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced four trucks, but then decided to increase production to five trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $105,000 to $90,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial four engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000. PRICE (Thousands of dollars per fire engine) Jabari 165 150 135 120 105 90 75 60 45 30 15 D 0 True 1…Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced four trucks, but then decided to increase production to five trucks. The following graph gives the demand curve faced by Jabari’s HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $105,000 to $90,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial four engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced five trucks, but then decided to increase production to six trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $160,000 to $120,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial five engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial five engines by selling at $120,000 rather than $160,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $120,000. PRICE (Thousands of dollars per fire engine) 220 200 180 160 140 120 100 80 60 40 0 Jabari 0 + 1 True…