Which of the following is likely a monopoly? Question 8 options: The Beatles (in being able to legally produce Beatles cds) Microsoft - in the operating system market All other answers are correct A grocery store in a small town that has only 2 stores. It is a snowy and cold day, and the stores are located in opposites sides of the town. Driving to the other side to buy at the other store is then dangerous and uncomfortable.
Q: Define Cultivate selected demand?
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…
Q: 19)Consider the following scenario. The currency deposit ratio is 0.5, the required reserve ratio is…
A: Money multiplier refers to the number that a certain increase in the monetary base gets multiplied…
Q: 2. Costing. Using the given information, compute the following: Total Cost Item Inclusion Unit Cost…
A: Answer 6. According to the question given, Total Cost = 155.70 Yield = 217 grams The formula to…
Q: find an innovational and creative solution for an existing problem in real life explain by the…
A: Problem-solving entails identifying an issue that must be addressed. Then you figure out what caused…
Q: In the absence of technological progress, we know with certainty that an decrease in the saving rate…
A: In the Solow growth model, any change in technology and savings rate will have a significant impact…
Q: Which is NOT a reason for a supplier to offer trade credit to a manufacturer? a. To increase the…
A: When favorable terms are agreed upon with a business's supplier, trade credit can be a useful tool…
Q: The volatility of short-term economic growth gives rise to O the balance of payments. O the business…
A: A economic cycle is a period in which the Gross Domestic Product fluctuates around its relatively…
Q: xplain the demand for air transport.
A: The demand curve refers to the inverse relationship between price and quantity demanded. The demand…
Q: Suppose Country X exports good A and imports good B. And, Country Y exports good B and imports good…
A: Global exchange or trade will in general diminish the costs of utilization merchandise, making…
Q: what are the requirements for something to be considered money? Why does the dollar have value?
A: One can argue that the most important thing for survival of humankind is trade and commerce. This…
Q: Discuss the reason(s) why countries need to be rank in terms of its Human Development Index.
A: Human Development Index (HDI) is a tool used to summarize the level of human development. It helps…
Q: What is the B/C Ratio for a firm considering an investment in a new manufacturing technology?…
A: The measure that depicts the relative benefits and costs of a project that is proposed in monetary…
Q: Please don't copy ans Economics You are the owner of a motorbike company that…
A: Production function of old firm : f(o) = mL0.5 Of new firm : f(n) = nL0.5 Cost functions are the…
Q: Assume the following model of the economy: Y = C + I + G C = 120 + 0.5(Y - T) I = 100 - 10r G =…
A: IS curve is given by the equation: Y = C + I + G LM curve is given by the equation: MPd = MPs =MP To…
Q: An expansionary monetary policy. Multiple Choice ___ is used when the inflation rate is high. ___…
A: Monetary policy is a set of policies used by the central bank of a nation in order to control the…
Q: Question 2: Imposing a single-stage tax Assume that there are 1000 importers and manufacturers,…
A: The tax collection framework enables the state legislatures to exact personal assessment on rural…
Q: Tea prices are expected to rise rapidly in the near future. e. Used cars in NYC: Mayor Adams wants…
A: The interaction between those who sell a resource and those who purchase that resource is the…
Q: How do public pension plans differ in other countries? Has privatization worked overseas?
A: Gross domestic product refers to the market value of final goods and services that are produced…
Q: What are the effects on the equilibrium price and quantity of chips if information becomes available…
A: at equilibrium level the market forces interacts and determines the price level when demand and…
Q: (a) Describe and compare the role of monetary policy in the Great Depression and the Great Recession…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: (plus symbols) represent three possible output levels in a given month. You can click on the points…
A: A (PPF), creation probability bend (PPC), or creation probability limit (PPB), or change…
Q: Q2. Determine the returns to scale of the following production function: Hand written plzz Y = 5K0.5…
A:
Q: Global passenger traffic demand was down by 58.4 per cent over pre-pandemic 2019 levels with the…
A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…
Q: Using a sample from a population of adults, to estimate the effects of education on health, we run…
A: Given regression equation Hypertensioni= α+βeduci+γXi+εiWhere Hypertension= Y is binary…
Q: 1. A good with a vertical supply curve has PES equal to: S Price $ Quantity a. 0. b. ∞ c. 1 d. -1 0
A: The measure that depicts the percentage change in quantity being supplied with respect to change in…
Q: irving fisher life and any economic theory?
A: Economics is the study of scarcity and unlimited wants. The resources are scarce because they are…
Q: A new machine was installed by a company at a total cost of 145,000 and projected to have a useful…
A: Given capital cost = 145000 Salvage value = 14500 Annual rate of interest = 18 % time = 15 years
Q: Blake decides to spend a spring day in the field planting wheat with some help from some workers he…
A: Question 1 Accounting profit = Revenue - Explicit cost = 870 - 50 - 150 - 100 = 570
Q: Which of the following is NOT an undesirable side-effect of discretionary fiscal policy? A)…
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…
Q: Fill in the blan a. Economics is the study of the choices we must make as we confront the mismatch…
A: Economics is known to be as the certain branch of the important knowledge which is merely concerned…
Q: What is the objectives of NEDLAC
A: NEDLAC is the abbreviation for the National Economic Development and Labor Council.
Q: Table 2: Quantity demanded and supply for a given market Price Quantity Quantity Demanded Supplied…
A: The above table shows the quantity demanded and quantity supplied with their respective prices. At…
Q: If the government chooses not to intervene in the economy, what will happen to the above variables…
A: If the government chooses not to intervene in the economy, then the following will happen to the…
Q: If an investor invests a sum of $1000 in a bank for 1 year with an interest rate of 10% compounded…
A: Given the invested amount = $1000 The investment made for a time period = 1 year Interest rate = 10%…
Q: Refer to Table 13-1. What is the marginal cost of producing the first widget? a. $0 b. $1.00 c.…
A: The above table is filled by using the given formulas: Total cost(TC)=FC+VCVariable…
Q: how does a firm behaves in monopolistic competition and explain the outcomes for the firm in the…
A: In monopolistic competition the decisions are assumed to be not interdependent. There is free entry…
Q: Present Worth Method. Show your complete solution and box your answers. A company that manufactures…
A: Present worth is the current value of money that we are expecting in the future.
Q: Classify each of the following statements as positive or normative Statement Firms can increase…
A: Positive economics describes and explains diverse economic phenomena or the "what is" scenario.…
Q: hagonial Solution, we estimated a focus group's demand curve for iTunes downloads. The estimated…
A: The standard error of the coefficient estimates how definitively the model gauges the coefficient's…
Q: According to Little's Law, which statement is correct for a stable process: O a. For a given…
A: Consider the Little's Law: L = λ x W Where, L = L can be considered as the quantity of the average…
Q: Figure Suppose that the government imposes a tax of P3 - P1. Answer questions 7 to 11 based on this…
A: Charges or taxes are required by legislatures on their residents to create pay for undertaking…
Q: Indicator 0 1. final consumption 2. of final consumption population 3. final consumption of public…
A: GDP refers to the total monetary value of output produced by the residents as well as non-residents…
Q: A man buys a house and lot worth P 150,000 if paid in cash , on the installment basis . He pays P…
A: Given, Principal Amount- p150,000 Down-payment- P50,000 ROI-14%
Q: A business needs an immediate capital of 145,000. If the annual operating maintenance cost of the…
A: Given capital = 145000 Annual maintained cost = 90000 Annual rate of interest = 15 %
Q: Q2. Determine the returns to scale of the following production function: Hand written plzz Y = 5K0.5…
A: Y=5K0.5+3L0.5Y=f(K, L)=5K0.5+3L0.5Now,f(tK, tL)=5(tK0.5)+3(tL0.5)…
Q: What are the guidelines that SBA has developed for the various industries?
A: Introduction The SBA or Small Business Administration's guidance materials give vital background on…
Q: Both Sweden and Japan have floating exchange rate systems. Suppose that a newly established trade…
A: Here, it is given that Japan and Sweden have floating exchange rate and Sweden products become more…
Q: In the short run, a firm's output level is 10 units. Its total cost is $4000 and its average fixed…
A: Cost of production refers to the amount of money involved in the production of goods and services,…
Q: Problem 3 A debt of $10,000 must be paid in a series of equal monthly payments for 5 years. The…
A: The information given is as follows:- Debt value given = $10,000 Time period for equal
Q: Exercise Two firms compete for market shares producing similar goods under imperfect competition.…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Which of the following is likely a
Question 8 options:
|
|
The Beatles (in being able to legally produce Beatles cds) |
|
|
Microsoft - in the operating system market |
|
|
All other answers are correct |
|
|
A grocery store in a small town that has only 2 stores. It is a snowy and cold day, and the stores are located in opposites sides of the town. Driving to the other side to buy at the other store is then dangerous and uncomfortable. |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A monopoly sells its good in the United States, where the elasticity of demand is −2.5, and in Japan, where the elasticity of demand is −5.3. Its marginal cost is $7. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $_____. (Round your answer to the nearest penny.) The price in Japan is $____. (Round your answer to the nearest penny.) Only typed answerHow does the monopoly determine the level of output that maximizes profit? Group of answer choices By determining where marginal revenue is equal to marginal cost. A monopoly does not need to calculate where maximum profit occurs because they have no competition and can set any price they want for their product. By determining where total revenue equals marginal cost. By multiplying price by marginal cost.A monopoly sells good in the United States, where the elasticity of demand is -2, and in Japan, where the elasticity of demand is -5. Its marginal cost is $10. At what price does the monopoly sell its good in each country if resale is impossible?
- What economic formula or graph does the Anti-Trust Department follow before they decide to break up a monopoly? Multiple Choice They look to see if MC=MR is beyond $10 billion. They try to calculate if price elasticity is less than .25 and inelastic. They do not use any commonly known formulas or graphs. Often times it is based on normative economics and/or it could be politically motivated. The number of registered consumer complaints must be beyond 10,000.Which of the following is true about a monopoly? Question 5 options: It is the only firm in the market Demand is downward-sloping Marginal revenue is downward-sloping All of the aboveIn some cities, Uber has a monopoly on ride-sharing services. In one of these cities, the demand curve on weekdays is given by P = 50 - Q. However, during weekend nights, or surge hours, the demand for rides increases dramatically and the new demand curve is P = 100 - Q. Assume that the marginal cost and the total fixed cost are both zero. 1. Determine the profit maximizing price during weekdays and during surge hours. 2. Determine the profit maximizing price during weekdays and during surge hours if MC = 10 instead of zero. 3. Draw a graph showing the demand, marginal revenue, and marginal cost curves during surge hours from part (2), indicating the profit maximizing price and quantity. Determine Uber’s profit and the DWL during surge hours, and show them on a graph. ANSWER ALL PARTS THANKS
- Is a monopoly always bad for society? Question 6 options: None of the other answers is correct Yes. Monopoly is always bad Monopoly is not bad if its owner gives back to society in charity No. For example, patents on medications create monopolies, and increase the price and reduce the quantity sold, but without them, no one would take the high costs of developing new drugs and the quantity will be... zero!Question 3 The University of Ruritania bookstore is the monopoly seller of two types of books: one in eco- nomics and another in mathematics. It acquires the books from suppliers for $35 each. Three types of students are considering purchasing the books: students only majoring in math (M), students only majoring in economics (E), and ones obtaining a double major (M & E). There are an equal number of students of each type. Each student is interested in purchasing at most one copy of each book. The RPs of each student of each type for each kind of book are displayed in the table below. M E M & E math textbooks econ textbooks 10 60 46 60 10 46 1. What is the optimal price if the bookstore chooses individual pricing? 2. What is the optimal price if the bookstore chooses pure bundling? The RP of a bundle is the sum of the individual RPs. Compared to individual pricing, which one will the bookstore prefer? 3. What is the optimal mixed bundling strategy? The RP of a bundle is the sum of the…Question 5: Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a monopolist for renting out "peeps". For each person who takes a 30 second peep, it costs Jimmy $.20 to clean the eyepiece. Jimmy believes he has the following demand for his service: Price of a Peep $1.20 Quantity of peeps demanded 1.00 90 100 150 200 250 300 70 60 50 350 40 30 400 450 20 10 500 550 a) For each price, calculate the total revenue from selling peeps and themarginal revenue per peep. Price Quantity TR MR $1.20 100 90 100 150 200 70 250 60 300 350 50 40 30 400 450 20 500 10 550 b) At what quantity will Jimmy's profit be maximized? What price will he charge? What will his total profit be? c) Jimmy's landlady complains about all the visitors coming into the building and tells Jimmy to stop selling peeps. Jimmy discovers, though, if he…
- You are a consultant who is advising a monopoly on the optimal pricing strategy. Your analysis has yielded the following information. • The marginal cost (MC) is $3. • The demand equation is P = 90 - 3Q . The total cost (TC) is given by 35+ 3Q The marginal revenue (MR) is given by 90 - 6Q Based on this information, answer the following questions. Show FULL calculations! (a) Following the concepts of profit maximization, what is the profit maximizing quantity for this monopoly? (b) Following the concepts of profit maximization, what is the profit maximizing price for this monopoly? (c) Following the concepts of profit maximization, what is the monopoly's profit at the profit maximization point?Which of the following is likely a monopoly? a.All other answers are correct b. The Beatles (in being able to legally produce Beatles cds) c.A grocery store in a small town that has only 2 stores. It is a snowy and cold day , and the stores are located in opposites sides of the town. Driving to the other side to buy at the other store is then dangerous and uncomfortable. d.Microsoft - in the operating system market Which one ??Which of the following statements is TRUE? A) A monopoly cannot set price and quantity such that the point lies above the demand curve. B) A monopoly can charge whatever it wants. C) Profit maximization occurs by setting price first. D) Both A and B. The more inelastic the demand curve, a monopoly A) will have a smaller Lerner Index. B) will face a lower marginal cost. C) will earn less profit. D) will lose fewer sales as it raises its price.