Consider a market with 4 firms. If all 4 firms enter into a cartel arrangement, then the demand curve facing the cartel is:  a. identical to the monopolist's demand curve b.. perfectly elastic c. perfectly inelastic d. the marginal revenue curve

Q: Problem 4. (Bundling) Consider a case where there are three consumers with respective valuations for...

A: Answer - "Thank you for submitting the question. But, we are authorized to solve only 3 sub parts. F...

Q: Given the Aggregate Expenditure schedule for Country A below. Calculate national income and net capi...

A: We know,National income=C+I+G+(X-M)Y=C+I+G+(X-M)Now,Y=34141+17926+9042+(36872-26812)Y=71,169

Q: All people who have equivalent formal education earn similar incomes." Do you agree or disagree with...

A: Equivalent formal education The term formal education refers to an organized and uniform education s...

Q: Total benefits and total costs of fishing are illustrated in the figure below. Refer to the figure b...

A: Answer: (1). Economically efficient level of effort: is the level of effort where the difference bet...

Q: For a price searcher utilizing a simple (uniform) pricing scheme, which statement best expresses the...

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output. 

Q: 1. A company considers purchasing a new machine that costs P600,050.00. It is projected that the mac...

A: Net present value = Present value of benefits - Present value of costs

Q: c. What is the weakness of CPI inflation? If a price of pork is more expensive while the price of ch...

A: In an economy, consumer price index is used as the tool of measuring inflation rate over a period of...

Q: For a firm with a downward-sloping demand curve, which of the following is true at the profit-maximi...

A: Imperfect competitive firms face a downward sloping demand curve. 

Q: Question 2 Suppose that an economy has the following average annual growth rates of its real GDP Y, ...

A: Money supply (M) in an economy is equal to the nominal GDP divided by the velocity (V), where nomina...

Q: Gooble Pay is a pay-per-view movie provider that has zero marginal cost and faces the following (inv...

A: Given; Demand function; P=20-0.4Q Marginal Cost; MC=0 At optimal pricing:-                          ...

Q: The tax cuts of 2017 increased the 2018 disposable income of households by roughly $200 billion. If ...

A: Disposable income: Disposable income is also known as disposable personal income (DPI), is the amoun...

Q: n initial investment of P530,000 is estimated to bring in yearly cash inflow of P52,000 for 6 years....

A: The initial investment for the project is = $530,000 Expected cash inflow for the next 6 years = $52...

Q: The following are the National Income Account data of the Philippines (figures are in Billions of Pe...

A: Given: Merchandise imports=17 Personal consumption expenditure=217 Note: Due to multiple subparts be...

Q: A firm has $200 million in total revenue and explicit costs of $190 million. Suppose its owners have...

A: Opportunity cost =10% of $100=$10 Economic profit =total revenue - total cost(explicit + implicit)  ...

Q: Topic: Unemployment and Inflation Explain three types of unemployment, their meaning and exam...

A: Unemployment is characterized as a circumstance where an individual of working age can't find a new ...

Q: Research indicates that promoters may fall into one of twoclasses: focused or dispersed. How do thes...

A: The promoters are the regulator of the ‘Gene Transcription’ process. The eukaryotic promoters are su...

Q: 1. What cuve connects A,B and C 2. Is good 1/2 a gross compliment/gross substitute to good 1/2 (Pic...

A: Here in the above diagram, the straight line shows the budget constraint of the consumer. The curve ...

Q: Which of the following statements about Nash Equilibria in a two-player one-shot simultaneous game i...

A: The Nash Equilibrium could be achieved when one of two or both players have a dominant strategy. But...

Q: If average total costs increase when the output level increases, then there are diseconomies of scop...

A: The expenses that are being incurred for running a business and carrying out its various transaction...

Q: Harley worked for many years to save enough money to start his own residential landscape design busi...

A: ERR or External rate of return"it is the rate of return on a project where any excess cash from a pr...

Q: What is your understanding of capitalism? How is capitalism compared to liberalism and neoliberalism...

A: 1) What is Capitalism ? Capitalism is a economic framework where private people or organizations own...

Q: Suppose you wish to borrow $800 for four weeks and the amount of interest you must pay is $20 per $1...

A: The Annual Percentage Rate (APR) is the cost of borrowing money stated as a percentage each year, in...

Q: Genovia has experienced exceptional growth in recent years. Its GDP per capita (or Income) has incre...

A: Given:Initial income=io=$30,000New income=i1=$50,000Initial demand for personal carss=Do(PC)=450,000...

Q: Critically/quantitatively evaluate the following statement (true, false or uncertain): • In a linear...

A: Ordinary least square method is used to regress dependent variable on independent variables. Here on...

Q: According to game theory, what do firms try to do? maximize their profits by acting in ways to minim...

A: Game theory helps in social situations where the competing players considers all the strategies befo...

Q: Graph the following a. Flood destroys the rice crops. Demand remains constant. Show effects on marke...

A: Since you have posted a question with multiple parts , I have solved the first three sub parts for y...

Q: TABLE 8-1 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Price Total Revenue TF...

A:

Q: Because there isn't one single measure of inflation, the government and researchers use a variety of...

A: CPI and GDP deflators will be examined in the ensuing discussion. While the GDP deflator considers t...

Q: What is the elasticity of demand if the inverse curve of demand is P = (20 - 2Q)1/2 and 2 units are ...

A: Given  Demand function: P=20-2Q1/2          .... (1) The formula for price elasticity of demand: e=d...

Q: 1. Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and muffins. ...

A: Nominal GDP is the sum of product of current year quantity and current year price. Real GDP is the s...

Q: QUESTION 11 Using the Rule of 70, a country will roughly double its GDP in thirty-five years if its ...

A: According to rule 70,Doubling time=70iwhere,i=annual growth rate

Q: Adco industries makes heavy machinery and they have a specialized soldering machine. This machine re...

A: Given that; First cost of soldering machine =150000 Annual maintenance = 5000 Salvage value= 11000 L...

Q: 18) Which of the following options best describes tax incidence? A) It equals to the loss in the soc...

A: Imposition of tax results in decrease in social surplus as socially efficient quantity is not produc...

Q: Compare and contrast the different approaches to environmental policymaking

A: Approaches to environmental policy making:- 1) Lawsuits 2) Economic policy tools 3) Command and cont...

Q: Apparel manufacturer Nike produces high-end and low-end versions of their running shirts. They estim...

A: MC=$30High-end shirts: P = 130 - 2QH TR=P×QTR=(130-2Q)QTR=130Q-2Q2Now,MR=∂TR∂QMR=130-4QProfit-maximi...

Q: Below presents the sustainable yield curve (measured by tons) for a fishery as a function of the num...

A: Given, Effort = Number of boat fishing x Number of weeks per boat. a) In the first figure, the y-axi...

Q: 3. Suppose the following production function is given for a Solowian type of economy: Y = K°L- (a(2 ...

A: The production function of a business is the link between the inputs it consumes and the output it g...

Q: Suppose that Sandy can produce 10 economic reports or make 2 sales calls. Suppose Tim can produce 2 ...

A:

Q: Question 2 Imagine a loan contract with a nominal interest rate of 17 percent. The expected inflatio...

A: a) Ex ante real interest rate = nominal interest rate - expected inflation                          ...

Q: . WHICH OF THE DIFFERENT THEORIES OR APPROACHES THAT BEST DESCRIBE THE ECONOMIC SITUATION OF THE DEV...

A: Development economics is a discipline of economics that focuses on helping developing countries impr...

Q: The Philippine debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16%...

A: Let us firstly calculate debt on every working individual . 12 trillion = 12 million millions   ( 1 ...

Q: Below are the short-run data of a representative firm in a perfectly competitive industry. The marke...

A: In perfectly competitive market price is constant so it is equal to marginal revenue. Firms maximise...

Q: PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number ...

A: Supply Curve refers to the various levels of quantity demanded that firms or producers of a good or ...

Q: Consumers with a high willingness to pay enjoy more surplus under a single-price monopoly. are indif...

A: Consumer with high willingness to pay - enjoy more surplus under first degree discrimination

Q: (1) Discuss the difference(s) between marginal rate of substitution and marginal rate of technical s...

A: Since you have posted multiple questions , I have solved the first one for you. If you want any spec...

Q: Q2) Aggregate demand and supply a) Explain economic fluctuations in short and long run. b) What is O...

A: The curve that depicts various quantities of goods being demanded by individuals by various customer...

Q: define, explain, and analysis the drivers and impacts of trade such as dynamics of money and exchang...

A: Introduction Trade is when things exchanged with one another in the country or out of country. Excha...

Q: What is the difference between macroeconomics and microeconomics?

A: Microeconomics is the study of people's and enterprises' decisions about resource allocation and the...

Q: Aggregate demand will NOT increase when: A) household wealth rises but prices are constar B) governm...

A: Aggregate demand"it is a measurement of total amount of demand for all finished goods and services p...

Q: factors which could have an impact on the demand and supply ofoil in the near term. whether on bala...

A: Crude oil is critical to the functioning of developed countries, with 84,249,000 barrels consumed ev...