9. Refer to the figure below. a) Label the curves in the figure below. Price and cost (dollars) Quantity In the figure indicate b) the amount this single-price monopolist will produce, Q c) the price it will charge, P d) the firm's economic profit e) the deadweight loss created
Q: -) 2) 3) Discuss any three (3) macroeconomic objectives. Explain expenditure method that is used to…
A: Macroeconomics is the study of an economy as a whole, typically a country's economy.
Q: Repo and reverse repo trades are NOT used to options Fund purchases of bonds Earn short–term…
A: The repo rate is the rate at which a nation's central bank agrees to lend money to commercial banks.…
Q: refers to the purchase of a foreign currency when the domestic rrency falls or is low, in the…
A: Arbitrage is the process of buying an asset at a lower price in one place, and selling it to another…
Q: 1. nation? A) B) C) D) Expenditure-switching Answer: Which of the following is concerned with…
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…
Q: Most of the world's goods and services are still sold in: A. emerging markets. B. foreign…
A: Trade is the concept for the exchange of goods and services for money, which can take place both…
Q: Gross Domestic Product (GDP) se 100 200 300 400 Consumption (C) $40 120 200 280 360 The accompanying…
A: The consumption schedule shows the consumption level at various income levels i.e. Gross Domestic…
Q: How does Professor Moretti explain the relationship between the new American economy and geography?
A: The New Geography of Jobs (Enrico Moretti) Professor Enrico Moretti, in his book The New Geography…
Q: 2. Define the economic rent and commercial rent . Give example also on it.
A: A payment that is made to a factor of production known as economic rent is greater than what is…
Q: Let the national income model be: Y = C + Io + Go C=x+B(Y-T) T = y + SY a>0; 00; 0<8 <1 where Y, C,…
A: Let the National Income model be Y = C + I0 + G0C = α +β(Y -T) α>0; 0<β<1T = γ…
Q: Question 6: Consumers are worse off buying less output at a higher price from a monopoly than a…
A: Monopoly is a market whereby there is only one price making seller which has almost full control…
Q: 1. Given the demand function Q=500-3P 2P +0.01Y where and P denote quantity and price of the good,…
A: An elastic demand is one in which the change in quantity demanded due to a change in price is large.…
Q: 12. The GDP per capita of the United States is equal to $28 020 and that of Chile is equal to $4860.…
A: GDP ( "Gross Domestic Product") is the measure of the total monetary value of all final goods and…
Q: Which of the following does the international investment position consider? The distribution of a…
A: The international investment position (IIP): It is a statement which shows the value of a country's…
Q: Which best replaces the x in the list? Inflation GDP Price Indices x Business production…
A: Answer- 2. Government Fiscal Policies
Q: Do you think the benefits from trade are shared equally among trading partners? Why? Why not?
A: The transfer of commodities, services, money, and technological advancements between nations is…
Q: = Y and a period . The individual faces a budget constraint in period 1 of P₁c₁ + $₁ 2 budget…
A: In economics, a budget constraint refers to all possible combinations of goods that someone can…
Q: If the price of cigarettes increases by 5 percent, by how much will the quantity demanded for…
A:
Q: . Find the current point elasticity of demand and determine whether demand is (perfectly) inelastic,…
A:
Q: Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: Consider a closed economy where the goods and money markets are described by the following…
A:
Q: Suppose in a closed economy, the government reduces her household income tax. Using relevant…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: What is compounded semi-quarterly in terms of n? I mean we have annually, semi-annually, quarterly…
A: A compounding period is the span of time between when interest was last compounded and when it will…
Q: Consider a closed economy where the goods and money markets are described by the following…
A: The IS-LM is called the Hicks Hansen model. The LM curve shows the money market equilibrium for…
Q: For the Cobb-Douglas utility function the optimal choice of good i is independent of the price…
A: To check whether the statement is true or false, we will solve the utility maximization problem…
Q: Consider the demand curve for hair cuts is given by Q=100-2P and the market equilibrium price equals…
A: A consumer surplus happens when the price consumers pay for a product or service is less than the…
Q: please include the impact the drone technology has and will continue to will have on the economy.
A: The economic and financial impact of drones is powerful. However, the Federal Aviation…
Q: 1. What is a Nash equilibrium? And use your definition to identify and explain in full, all the Nash…
A: 1) Nash equilibrium is the decision making theorem that states that the player can achieve its…
Q: Discuss the different types of risks at risk management?
A: Risk management is the anticipating and recognizing potential threats in the present or future to…
Q: What is the value of the sensitivity money demand to the level of income? O a. 25 O b. 0.50 O c. 50…
A: C = 2000+ 0.65(Y-T) I= 900- 50i G= 400 T= 1500 M= 1000 P= 2 L= 0.50Y -25i
Q: A person has preferences represented by the utility function U(x) = Ei=1 ai log(xi) where a; >0 and…
A: A utility function is a mathematical representation of a person's preferences over a set of goods or…
Q: ulip growing is a perfectly competitive industry, and all tulip growers have the same cost curves.…
A: Given information: Tulip growing is a perfectly competitive industry. The market price of tulips is…
Q: Identify Quick Copy's profit- maximising output. Explain whether this business is making an economic…
A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…
Q: DO NOT COPY OTHER ANSWERS FROM OTHER WEBSITES. THEY ARE WRONG Consider the market for orange juice.…
A: The Equilibrium is established where the demand and supply are equal. Change in the demand or supply…
Q: Consider sanitizer is a complementary good for a face mask, while face powder is a substitute good…
A: Demand curve is the graphical representation of demand schedule. Two goods are said to be…
Q: Q1: Suppose a new industry invokes the infant industry argument to request a tariff. Assume this is…
A: A new industry invokes the infant industry argument to request a subsidy. Assuming this is granted…
Q: 3. A company in the US has traditionally been outsourcing toy production to Vietnam The table below…
A: A landed cost is the cost incurred to a producer to create a product, transporting the product, and…
Q: 3. In a waterflooded mature oil field, a large scale polymer-flooding project is evaluated with a…
A: The value of information can be determined using Lohrenz's technique in a decision-making situation.…
Q: Compute and interpret the own price elasticity of supply of cabbage Is the supply of cabbage price…
A: a) Own price elasticity of cabbage :- (dQs/dPC)x Pc/Qs Qs = 1000 dQs/dPc = 120 Own price…
Q: Covid-19 pandemic has affected various economic sectors around the world. Consider face mask is a…
A: Normal goods refer to the goods whose demand rises as income rises. Or a good whose market demand is…
Q: Good Y 40 30 O L L1 L2 8* e₁ ./1 12 60 Good X I The arrow on the graph above shows the budget line…
A: Substitution effect is the change in the consumption bundle due to change in price of good holding…
Q: Which statement best explains how total utility affects production? A company should produce enough…
A: Answer- A company should produce enough so that the revenue from the extra units exceeds the extra…
Q: What defines monopoly? Explain in 200 words
A: Market- A market is a place where two or more parties can meet to engage in an economic transaction.…
Q: 7. The demand function for a product is given by q = 250-0.5p. a. Determine the price levels for…
A:
Q: A machine costs Php 2,000,000. It has a salvage value of Php 500,000 at the end of its economic…
A: Depreciation is the progressive decline in an asset's value over time as a result of damage,…
Q: Consider the market for orange juice. In this market, the supply curve is given by QS = 100PJ −20PO…
A: Q1.1. Given that; QS = 100PJ −20PO QD = 1000−150PJ +100PC whereas; PO = 10 and Pc = 8
Q: What are the costs of inflation 2.Why are property rights important for the growth of a…
A: Inflation refers to general increase in the price level of goods and services. The property rights…
Q: Wine (bottles per month) 6 5 3 13 ·12 3 Bread (loaves per month) The price of a bottle of wine is…
A: a) is Let W denote bottle of wine( on y axis) and B denote loaf of bread( on x axis) Budget…
Q: 1.What is the profit maximizing condition for Perfect Competition in the long-run?
A:
Q: ABC Computer Company has a $20,000,000 factory in Silicon Valley. During the current year ABC…
A: Gross domestic product estimates the financial worth of conclusive goods and services — that is,…
Q: Assume a perfectly competitive market. Draw the average total cost, average variable cost, marginal…
A: 1 ) Perfectly competitive market refers to that market scenario in which there are many seller and…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Paulina sells beef in a competitive market where the price is $6 per pound. Her total revenue and total costs are given in the table below. Quantity of beef (lb.) 0 1 2 3 4 A What is the profit-maximizing (or loss minimizing) quantity? B 1 pound 2 pounds 3 pounds Total revenue ($) Total cost ($) 0 4 6 6 12 10 18 15 24 21 D) 4 pounds Profit ($) Marginal revenue ($) Marginal cost ($) Marginal profit ($)6. Hongxing has developed a popular self-hypnosis course. She sells the course two ways: through a well advertised company website for a price of $150 and at an e- Bay storefront for $100. Her cost of producing and selling the courses depends only on the total number of courses she sells. Using one or more diagrams, explain Hongxing's pricing strategy. Be sure to cover (a) how Hongxing will decide the price and quantity to sell through each store, (b) what conditions must be met for Hongxing's pricing strategy to work, and (c) whether it is reasonable to assume these conditions are met in this example.6. Guy Rope and his backing group, the Tent Pegs, have just finished recording their latest music CD. Their record company's marketing department determines that the demand for the CD is as follows: Price (€) Number of CDs €24 10 000 22 20 000 20 30 000 18 40 000 16 50 000 14 60 000 The company can produce the CD with no fixed cost and a variable cost of €0.15 per CD. a. Find total revenue for quantity equal to 10 000, 20 000 and so on. What is the marginal revenue for each 10 000 increase in the quantity sold? b. What quantity of CDs would maximize profit? What would the price be? What would the profit be? c. If you were Guy Rope's agent, what recording fee would you advise Guy to demand from the record company? Why?
- Table 17-5 The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. Quantity (Gallons) Price (Dollars per gallon) 0 50 100 150 200 250 300 350 400 (Dollars) 0 350 600 750 800 750 600 350 0 Refer to Table 17-5. If there are exactly five sellers of gasoline in Driveaway and if they collude, then which of the following outcomes is most likely? a. Each seller will sell 30 gallons and charge a price of $4. b. Each seller will sell 40 gallons and charge a price of $4. c. Each seller will sell 30 gallons and charge a price of $5. d. Each seller will sell 50 gallons and charge a price of $3. 8 7 6 5 4 Quesquir Total Revenue 3 2 1 01.i) Assuming you are the managing director of a firm that produces goods: A,B and C .The price elasticity of demand for A is 1.2, for B it is 1.oo and C is 0.75. It is known that he's firm is experiencing serious cash flow problems and you have to increase total revenue as soon as possible. If you were in a position to set the prices for these goods, what would be your pricing strategy for each product ii) price falls from N$ 16 to N$ 12 per bottle and demand rises from 200 to 300 per bottle.calculate the PED using midpoint formula Output prices average (total)cost Total cost marginal cost Total profit/loss 10 10 -108 20 10 4 -48 30 10 5 3 40 10 6.20 40 50 10 8 60 60 10 10 60 2. i) fill in the gaps ii)in which market structure doess Johnson Electronics (Pty)Ltd operate? iii)what level of output maximizes the firms profitThe following table shows the demand and supply for a popular pair of shoes sold by Akron Enterprise Limited (AEL). Price per pair $ Qty. Demanded Quantity supplied Market condition Presure on price 105 25000 75000 surplus downward 90 30000 70000 surplus downward 75 40000 60000 surplus downward 60 50000 50000 equilibrium No pressure 45 60000 35000 shortage upward 30 80000 20000 shortage upward 15 100000 5000 shortage upward Other information regarding AEL are as follows: Fixed cost = $2000 Variable Cost = 20Q Question 1 a. Graphically illustrate market equilibrium using the information in the above table. b. Explain and graphically illustrate a price floor implemented by the government using an appropriate price in the table above. c. If Akron Enterprise Limited sells its products at equilibrium price, calculate total revenue and total profit. d. At what level of price(s) identified above is a shut-down price for Akron Enterprise Limited. e. Graphically illustrate…
- 33. Rodrigo gets a $1.00 discount by buying Cheerios on the end of the aisle that have a store coupon. Olivia buys the same sized Cheerios at the regular price in the cereal section. Is this price discrimination? True False3. Johnny Rockabilly has just finished recording his latest CD. His record company's marketing department determines that the demand for the CD is as follows: Price Number of CDs $24 10 000 22 20 000 20 20 30 000 18 40 000 16 50 000 14 60 000 The company can produce the CD with no fixed cost and a variable cost of $5 per CD. a. Find total revenue for quantity equal to 10 000, 20 000, and so on. What is the marginal revenue for each 10 000 increase in the quantity sold? b. What quantity of CDs would maximize profit? What would be the price? What would be the profit? c. If you were Johnny's agent, what recording fee would you advise Johnny to demand from the record company? Why?The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. Quantity Price Total Revenue (Gallons) (Dollars per gallon) (Dollars) 8 50 7 350 100 600 150 750 200 4 800 250 3 750 If there are exactly five sellers of gasoline in Driveaway and if they collude, then which of the following outcomes would be most profitable for the sellers? Each seller will sell 30 gallons and charge a price of $5. Each seller will sell 50 gallons and charge a price of $3. Each seller will sell 30 gallons and charge a price of $4. Each seller will sell 40 gallons and charge a price of $4. O O
- Table 1. Table 1 includes Price, Quantity, Average Total Cost, Average Revenue, Marginal Cost, and Marginal Revenue Price ($) 11 10 a 8 7 Quantity (Units) 6 7 8 9 10 Total Cost ($) 17 19 21 23 25 Average Total Cost ($) If you cannot see the table above, click here to download. Average Revenue ($) Marginal Cost ($) Marginal Revenue ($) Refer to Table 1 (above). At its profit-maximizing output, this firm's total profit will be:13. You just got a patent for the first commercial self-driving car. The following table shows the elasticity of the demand and the marginal cost of production of your cars in several production centers across the globe. Assuming that this are constant, can you approximate what would be the optimal price for your cars? City Marginal Cost Elasticity Price Wolfburg, Germany Barcelona, Spain Tokyo, Japan Ulsan, South Korea East London, South Africa Mexico City, Mexico $20, 000 $18, 000 $22, 000 $16, 000 $10, 000 $12, 000 -1.5 $60, 000.00 $24, 000.00 $33, 000.00 $32, 000.00 $11, 428.60 $14, 400.00 -4.0 -3.0 -2.0 -8.0 -6.0The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a purely competitive firm that produces novelty ear buds. Assume the market for novelty ear buds is a competitive market and that the price of ear buds is $6.00 per pair. Quantity of Ear Buds MC ($) ATC ($) 10 - 5.00 15 2.00 4.00 20 2.44 3.61 25 3.56 3.60 30 4.02 3.67 35 5.49 3.93 40 5.93 4.18 45 8.59 4.67 Instructions: In part a, enter your answer as the closest given whole number. In parts b–d, round your answers to two decimal places. a. If Buddies wants to maximize profits, how many pairs of ear buds should it produce each week? _ pairs b. At the profit-maximizing quantity, what is the total cost of producing ear buds? $ _ c. If the market price for ear buds is $6 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what will Buddies profit or loss be per week? $ _ d. Now assume the market price is $5.50 per…