Show the relationship between AR, MR, TR and the price elasticity of demand under imperfect competition

Q: Consider the following strategic form gam L M R 2,4 1,2 0,1 D 1,0 1,1 3,3

A: E(U) = 2q1 + 1q2 + 0(1-q1-q2) (Strategy 1) E(D) = 1q1 + 1q2 + 3(1-q1-q2)  E(U) = E(D) 2q1 + 1q2 + 0 ...

Q: Mike from Minnesota and Caty from California are trading fresh water fish (bass) and salt water fish...

A: Given information: Mike catches a number of bass = 100 bass Caty catches a number of salmon = 50

Q: Data from the Bureau of Labor Statistics shows that U.S. income increased by 10% while consumer data...

A: Change in income=10% Change in quantity demanded=∆in quantity demandedInitial quantity demanded×100C...

Q: What is keenness to consume in economic development?

A: Consumption is distinct from consumption expenditure, which is the purchase of goods and services fo...

Q: The transmission mechanism of monetary policy is how central banks attempt to control the price leve...

A: Monetary policy is the policy instrument of central bank under which it aims to control the money su...

Q: Question 18 Restaurant Supply, Inc. sells cheese to Windy City Pizza for $1,000. Windy City Pizza us...

A: Given: Restaurant supply selling cheese to Wincy City Pizza=$1000 Windy city pizza sells to consumer...

Q: 5. Number the following supply curves from lowest to highest elasticity.

A: Flatter curves are associated with greater elasticity and steeper curves are associated with lesser ...

Q: Market for Internet Quantity Quantity Price ($ per Demanded Supplied (units month) (units per per mo...

A: Initially the demand is measured on X axis and supply is measured on y axis . The equilibrium is est...

Q: A5

A:   Poor communication can lead to disaster in any aspect of life. In the workplace setting, poor comm...

Q: Wells Fargo Bank sells a $1,000 Treasury security to a securities dealer.  The dealer pays for the s...

A: Money Supply: - In an economy, the total value of money in circulation at a point in time is known a...

Q: How does the Solow growth model explain economic growth?

A: When talking about economic growth, there are different theories and models developed by economists ...

Q: Assuming global marketer is from the US and the US dollar to INR dropped from 1 USD= 70 INR  to 1 US...

A: The relative price of local products and services lowers when the dollar depreciates and the exchang...

Q: Year Lab 2000 142 2001 143

A:  Labor force in 2019 = 163,539,000 Unemployment rate = 3.7 %          

Q: Draw a map of indifference curves for a person in the following cases: She likes vegetables twice as...

A: Indifference curve shows the combination of two goods that give the consumers same utility or satisf...

Q: 3. Suppose that as the income level increases by 10% that the quantity demanded of that same item in...

A: Income Elasticity is the responsiveness in quantity demanded to the change in income level .  And th...

Q: Suppose that demand for automobiles increases by 20% when consumers’ incomes increase by 15%. What i...

A: Introduction: Elasticity of demand is that the responsiveness of a commodity's quantity demanded to ...

Q: In a company operational activities are performed to fabricate products or to provide services. With...

A: Introduction Operational activities of a company has given. Primary cost of different product or ser...

Q: 7- Define the budget constraint and what does the slope of the budget constraint represent?

A: In Economics, budget is defined as a spending plan which is based upon the income and expenses of a ...

Q: Quantity Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Av...

A: Here, the given table shows different types of cost incurred in the production process and the missi...

Q: If the elasticity of demand for a commodity is estimated to be 1.5, then a decrease in price from OR...

A: Price elasticity of demand is a measurement of the change in the consumption of a product in relatio...

Q: y1=100, y2=20 beta=0.5 and i=0% Calculate optimal saving s=______

A: Introduction: The savings rate is a measurement of how much money a person deducts from their dispos...

Q: Data for movie tickets Quantity demanded Price ($ per ticket) (tickets per day) 7 300 8 200 100

A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in pric...

Q: •Consider the exogenous growth Solow-Swan model. An increase in the sav- ing rate increases the "bal...

A: When we will be going to discuss about the solow growth model which can be exogenous can be consider...

Q: Question-2 Explain by applying these concepts with examples. 1. Rational people respond to incentive...

A: Clarify by applying these ideas with models. 1. Rational individuals answer to motivating forces 2. ...

Q: Assume in a given company the marginal productivity can be characterized by the following function M...

A: At the marketplace, a firm tries to maximize its profit, due to which it makes constraints for resou...

Q: What is the Nash Equilibria of the following game? Penalty Game Keeper L R Striker L 1,-1 -1, 1 R -1...

A: We will find the mixed strategy Nash equilibrium of the given game. Mixed strategy is the randomizat...

Q: A consumer has product happiness function c1*c2. When this consumer eats 5 apples and 3 bananas, the...

A: Happiness function: - It shows the functional relationship between the consumption of goods and serv...

Q: The price of petrol increases by 20% and remains at the new higher level. Which of the following sta...

A: Here, it is given that the price change by 20% will lead to provide a new higher level, which remain...

Q: mere 4 A 0 deneng elesticry of demand for O0 00

A: Advertisement elasticity of demand means the ratio of  percentage change in quantity demanded due to...

Q: 3.2 The Central Bank of Lala-land decides to increase the target inflation rate from 2 to 3 percent....

A: Introduction: The aggregate supply curve, unlike the aggregate demand curve, normally does not alter...

Q: Does the effect of Monetary Policy can be seen much quicker than the effect of Fiscal Policy? Is the...

A: The two most widely used instruments for influencing a country's economic activity are monetary poli...

Q: Write out and explain the GDP and Aggregate Expenditure identity equations.

A: Answer; GDP - The monetary value of all goods and services produced within a nation's geographic bor...

Q: Discuss the importance of monetary base to the overall money supply.

A: Answer: Monetary base: monetary base refers to the total amount of cash created by the central bank ...

Q: Consider a modified aggregate supply function which takes account for the emergence of random busine...

A: Output Equation in the economy - yt = πt - πte + y⏜ Where πt = Actual inflation rate , πte = Expecte...

Q: 1. Suppose that there are 1200 units of a nonrenewable resource available over two periods (0 and 1)...

A: Answer: Given, Z=Z0+Z1=1200 unitsOr,Z0=1200-Z1....Equation 1Demand function:P=2000-ZMC=400Discount r...

Q: How does endogenous growth theories provide a greater understanding of the process of economic

A: According to endogenous growth theory, economic growth is more driven by internal effects than exter...

Q: The graph above represents a bilateral transboundary pollutant and the economics of reaching an agre...

A:

Q: The subsequent figures show the evolution of the spread between the 10-Year Treasury Constant Maturi...

A: A Yield Curve is considered as a Forecasting indicator that interpret in real time. Yield curve is t...

Q: total government control total economic freedom Nigeria (58.7) which is the BEST way to describe the...

A: The best way to describe the economies of Kenya, South Africa and Nigeria by considering the given i...

Q: he Additional Insured—Vendors (HO 07 51) endorsement to a homeowners policy extends the definition o...

A: An additional insured means in a liability policy broadens the inclusion past the named safeguarded ...

Q: Recently in the City of Seoul, building contractors lobbied the city council to pass an ordinace req...

A: Lobbying is any attempt by individuals or private interest groups to influence the decisions of gove...

Q: a Define 'terms of trade'. b What is the formula for the terms of trade index? c From the table belo...

A: The proportion of nation's export prices to its import prices is known as terms of trade . To purcha...

Q: 4 can you tell me the conclusion- trends(the pros and cons, the changes throughtout the years increa...

A: GIVEN   the conclusion- trends(the pros and cons, the changes throughtout the years increasing and d...

Q: in your own words or understanding what is global city?

A: When talking about global city, it relates to the place that is open to trade with different cities ...

Q: If S1& D1 are the original supply and If S16 D1 are the original supply and demand curves, what happ...

A: NOTE1: Since we only answer up to 3 sub-parts, we’ll answer the first 3. If S1 &D1 are the orig...

Q: ill give incorrect ans

A: A place where buyers and sellers meet is called Market. A market allows the buyer and seller to faci...

Q: A consumer has $600 to spend on good x and y. Her preferences can be represented by the utility func...

A: Given; Income of the consumer= $600 Utility function; U(x,y)=y+100In x Price of good x= $10 Price of...

Q: Practice questions 1. Given a firm's total cost function as = 12 + 60Q- 15Q² +Q³ Suppose that the fi...

A: The firm has to incur the cost while producing goods and services. Costs are divided into many parts...

Q: 30. A man loaned P15,000 pesos from a bank which offers a discount rate of 8% payable at once. How m...

A:   A loan is a sort of credit in which a sum of money is provided to another person in return for the...

Q: Question 25 A computer company builds a new factory. This building is included in the category of gr...

A: The value of all final goods and services in an economy over the course of a year is referred to as ...