Q: Suppose the elasticity of demand for tickets to Broadway shows is 2.0 for students and 0.3 fo senior...
A: Third Degree Price discrimination is the practice of charging different prices to different groups f...
Q: QUESTION 1 A. The total cost function for a monopolist is given by TC = 44,000 + 180Q + 0.03Q² and t...
A: In monopoly, eqm quantity is determined by the intersection of MR(marginal revenue) and MC(marginal ...
Q: Explain the difference between simple commodity production and capitalist commodity production.
A: Meaning of Production Function: The term production function refers to the situation under which a...
Q: Typically this kind of economic activity results in environmental harm through production and consum...
A: "Decoupling" means to separate one thing from another. Hence, when a country such as Econ Land manag...
Q: n long run market supply it is a factor prices rise as new firms enter the market and existing firms...
A: The industry supply curve for increasing cost industry is more inelastic. In long run, firms are fre...
Q: When the price of a product is increased 5 percent, the quantity demanded decreases 2 percent. The p...
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: What is the effect on the equilibrium price and quantity of orange juice of the following events if ...
A: The effect on equilibrium price and quantity can be explained as :
Q: You would like to have $20,500 for future in three years from now. How much should you deposit in yo...
A: Given information, Future value (F): $20,500 Interest rate (r): 4% Time period (n): 4×3=12 (paid qu...
Q: Assume that to balance the benefits of providing electricity with its pollution costs, A. Treehugger...
A: Tax of 0.04 per unit increases the private marginal cost to social marginal cost.
Q: A company produces a product X and realizes Php 80 profit per unit. However, if the gadget is faulty...
A: Given If the product is good then company earn 80 profit per unit. Let X denotes the profit per uni...
Q: explain the depth in the global bond markets, mention atleast 3 varieties of bonds from various coun...
A: Economics can be defined as the allocation of scarce resources in order to satisfy the consumer dema...
Q: w municipal refuse-collection truck can be purchased for $84,000. Its expected useful life is six ye...
A: Initial Cost 84000 Net Recipt 18000 n 6 MARR 0.19
Q: Become flatter fall
A: Explanation: The increase in charge per unit decreases the number and rotates the AE operate, becomi...
Q: The demand and supply equations for a product are: Qd= 300 – 6P and Qs= -40 + 6P. Determine the mark...
A:
Q: You are given the following data concerning Freedonia, a new republic. 1) Consumption is 200 when ...
A: 1) Consumption is 200 when income is zero and the marginal propensity to consume is 0.6 out of ever...
Q: How much must be deposited at 6% each year in order to accumulate 500,000.00 on the 6th year if paym...
A: It's a series of fixed-amount payments or receipts made on a regular basis for a set length of time....
Q: Explain the differences and similarities between
A: New classical theory is based on models on perfectly competitive consumers, producers and labor mark...
Q: The main difference between market-clearing and non-market-clearing models of the economy is the... ...
A: The main difference between market-clearing and non-market-clearing models of the economy is the.....
Q: Government attempts to reduce income inequality; ensure minimum health, education, and living standa...
A: Government plays an important role in various aspects of the economic stability. It ensure the welfa...
Q: A competitive firm operating in the short run is producing at the output level at which ATC at a min...
A: In short run the profit maximization level of output is produced at point where MR or Price = MC. Wh...
Q: Elif can produce 6 pies or 30 cakes in 1 hour. Ahmet can produce 10 pies or 20 cakes in 1 hour. a) D...
A:
Q: What is the law of diminishing returns? O Additional units of fixed inputs provide less additional p...
A: diminishing returns is the decrease in marginal output of a production process as the amount of a si...
Q: A golf club’s owner has commissioned a market study that estimates the average customer’s monthly de...
A: (Q) A golf club’s owner has commissioned a market study that estimates the average customer’s monthl...
Q: Suppose the market inverse demand function of a homogeneous product is given as P(Q) = 200-Q, and ea...
A: Demand: P = 200-Q 3 firms = q1,q2,q3 When firm 1 and 2 merge = q1+q2 = q* MC = 20 Q = q*+q3 P = 20...
Q: rue or False[explain] A)The lower the discount rate used in allocating future resources, the more ...
A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you wan...
Q: How long will it take for an investment of $5,000 to grow $7,500, if it earns 10% simple interest pe...
A: Interest amount (A)=FV-PV=7500-5000=2500 FV=Future value PV=present value
Q: The following is a table of cost for a toy manufacturing firm. The variable input is labor. Use this...
A: We are going to find the average variable cost to identify the value of B.
Q: A chemical manufacturer is located upstream from a beer brewery. When the chemical manufacturer prod...
A: Coase theorem is used as one of the measures to reduce externality by providing property rights of b...
Q: (h) A pollutant should be banned if its marginal damage curve is everywhere above its marginal abate...
A: b) Pollutants should be banned if its marginal damage curve is everywhere above its marginal abateme...
Q: n economics professor finds that he strictly prefers a $10 bottle of wine over an $8 bottle, and a $...
A: Behavioral economics is a branch of economics that studies why people make irrational decisions and ...
Q: Expenditure Factor Service Households Firms Factor Income leakages Goods and Services injection Gove...
A: ANSWER • Government can boost the economic growth through income and expenditure pattern using c...
Q: During the summer, Alex runs a mowing service, and lawn mowing is a perfectly competitive industry. ...
A: Here, it is given that Alex is producing output in the perfectly competitive market.
Q: a) Suppose that the market for the return of ready meals from restaurants in a city serves as a free...
A: (Since you have asked many questions, we will solve the first one for you. If you want any specific ...
Q: If you borrow money from Ms. Fernandez at 12% simple interest rate, determine the future value of Ph...
A: P= 20000 t= 15r= 12 Amount = P + SI
Q: A tire manufacturer produces a piece of tire at a labor cost of 0.50 pesos and material at 3.00 peso...
A: Let's assume Q units are produced. Labor cost is 0.50 pesos per piece Material cost is 3 pesos per ...
Q: Indicate how each of the following transactions affects U.S. exports, imports, and net exports. Tran...
A: Gross Domestic Product is the value of all final goods and services produced in an economy over a gi...
Q: Find the amount due at the end of 15 months whose present value is P2,000 at 5% simple discount. AN...
A: Present worth is the idea that expresses a measure of cash today is worth more than that equivalent ...
Q: In the Aggregate Supply/Aggregate Demand model, a short-run equilibrium with an output gap of zero i...
A: Output gap: It refers to the gap that occurs between the actual GDP of the economy or in the potenti...
Q: f) Suppose that the suppl of a monopoly.Calculat mononolist's profits Als
A: Disclaimer : “Since you have asked multiple question, we will solve the first question for you. If y...
Q: Which of the following government intervention will correct the market failure? A. enactment of law ...
A: Market failure results when socially efficient quantity is not produced. Externality, public good, a...
Q: After viewing the PPT lecture, reading the Mothersbaugh pages as well as the article on the study in...
A: ANS 1. The emergency in power age area of Pakistan is causing load shedding. All areas including fam...
Q: A USA Today/CNN/Gallup survey of 365 working parents found 195 who said they spend too little time w...
A: Given information: In the survey of 365 working parents, 195 parents said that they spend little tim...
Q: Each graph below illustrates three short run cost curves for firms, where ATC is Average Total Cost ...
A: Marginal Cost is the additional cost received by selling one more unit of output. MC is the differen...
Q: Assume: A firm pays $500 for a unit of capital. This capital generates $500 of total revenue. The fi...
A: Explicit cost is fixed and variable costs of making a decision. Implicit cost is the opportunity cos...
Q: Question 1. What is the total crude steel prodution of China from 1980 to 2000. Question 2. What is...
A: Tabular representation of data helps in various types of important economic analysis. Here, comparis...
Q: Earl owns and operates a food trailer at the State Fair. After being featured on a na televison netw...
A: Fixed cost = 100 $ Variable cost = 90 $ per worker Total cost with 3 worker = 100 + (90 * 3) = 370 T...
Q: 59 please quikcly thanks ! If the Bank of Canada raises its target for the overnight interest rate...
A: Meaning of Exchange Rate: The term exchange rate refers to the situation under which a particular ...
Q: Amir operates a large lobster boat. The operating cost for the boat is $2,250 each day. At the end
A: *Answer:
Q: Suppose that Winnie the Pooh and Eeyore have the same value function: v(x) = x1/2 for gains and v(x)...
A: There are two prospects : Prospect 1 : 1 $ with surety = S Prospect 2 : 4$ with 75% probability = ...
Q: A machine costs P150,000 and will have a scrap value of P10,000 when retired at the end of 15 years....
A: Given: The cost of a machine is = P150,000 The scrap value is = P10,000 Total years = 15 The money i...
Step by step
Solved in 3 steps
- What are the three reasons that a market might have a monopoly?Classify the following as a government-enforced barrier to entry, a barrier to entry that is not governmentenforced, or a situation that does not involve a barrier to entry. a. A city passes a law on how many licenses it will issue for taxicabs b. A city passes a law that all taxicab drivers must pass a driving safety test and have insurance c. A well-known trademark d. Owning a spring that offers very pure water e. An industry where economies of scale are very large compared to the size of demand in the marketWhat Is Overcoming the Barriers to Supplier Development?