The first thing to know is what factors affect transaction costs? For example: Actor A has a very large garden, and Actor B has a narrow garden. How to decide the case? Will actor A be interested in gardening through transactions in the spot market or hybrid/contract or "integration firm"? for actor A to get a cheaper or more efficient transaction fee? Similarly, what is actor B's choice of getting a gardener?

How about for when he does 8 customers?I'm having trouble figuring out how to do this due to the fact that I can't seem to understand when MR is truly greater than MC.VC and TFC are still the same.

Please do not answer question in picture. Please demonstrate the graph as a supply and demand graph with all axes labels that include price, quantity, reason for shift depicted, original prices, and original quality.

Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the skirt:        Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department Store 15 102 Across Town 30 85 Neighboring City 60 76   Juanita makes $42 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $42 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.

Suppose an individual has the following utility function: U(X,Y)= min{X, 2Y}, and they choose marshallian demands gx,gy. Suppose you have an increase in px. Which of the following is true about the change in demand for good X, gx? (a) No substitution effect, because they only consume one of the goods. (b) No substitution effect, because they always consume the goods in fixed proportion. (c) No income effect, because they only consume one of the goods. (d) No income effect, because they always consume the goods in fixed proportion. Which of the following production functions exhibits constant returns to scale? (a) f(k,l) = 0.310.7 (b) f(k, l) = kl (c) f(k, 1) = ln(k)+ln(1) (d) f(k, l) In(k) + In(1) =

Consider a market transaction that you have undertaken (or considering) as a consumer which was notable because it is particularly recent, large, or unusual. Analyze this transaction from a microeconomic standpoint: a. Explain how & why (from the perspective of the supplier), the good or service in question was created, and the reason you entered the market to secure this product or service (demand side). b. Discuss in general terms the factors on the demand and supply side that will have influenced the price you paid for this product. Show what might happen to the price of the product if one of these factors changes. c. Assess whether the product in question is likely to be price elastic or inelastic at the current market price (demand). Following this assessment describe the likely impact on the supplying company’srevenue following an increase in the price they charge (ceteris paribus) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take…

Dean likes to practice guitar in his apartment, working primarily on mastering old Velvet Underground songs. Because he’s sure that developing guitar prowess will lead to riches – or at least critical acclaim in indie circles – he derives $500 in surplus from being able to practice. Dean’s practicing, however, is quite loud and can be heard clearly through paper-thin walls in his hip Brooklyn apartment.  Britta lives next door and likes to read, but she is unable to do so when Dean plays guitar. She gets $350 in surplus from the satisfaction of reading. Suppose that when Dean and Britta bargain, they always split any surplus to be divided evenly. Assume that it’s common knowledge that courts always overestimate damages by $200, and transaction costs are $50. Given these assumptions, which of the following legal rules is most efficient:    Assuming the same information from Question 28 above, what would be the most efficient tax to levy on Dean’s playing?     A. $200   B.…