$4 $3 $2 $1 A B 50 What will MOST LIKELY occur if the government imposes a minimum price of $4? с 100 150 200 price ceiling; shortage price ceiling; surplus price floor; shortage S price floor; surplus
Q: The profit-maximizing price is
A:
Q: A monopolist faces the demand curve Q=11-P, where P is measured in dollars per unit and Q in…
A: In a monopoly market structure, There exists a single seller. The monopolist maximizes profit by…
Q: When the economy is in recession and below potential GDP, more of the increase in aggregate demand…
A: When talking about recession, it can be said that it is the situation when an economy is unable to…
Q: e. At the new equilibrium there is a budget deficit os $ 4 Round your answer to 2 decimal places.
A: Aggregate expenditure is the sum of Consumption, Investment, government spending and net export. At…
Q: What are the risks of focusing on sunk costs and ignoring opportunity costs? Describe some examples…
A: Any expense that has already been incurred and cannot be recovered or reversed is known as a sunken…
Q: Suppose the demand function for a product is given by the function: D(q) = -0.013g + 65 Find the…
A: Consumer surplus is a measure of the economic welfare of consumers that measures the difference…
Q: 2. insurers in th States care differently from other medical expenses; maternity care was either…
A: Medical expenses are the fees paid for goods or services provided by healthcare providers that are…
Q: Jackie moved to Spain to work for a public relations firm. She had health insurance from her…
A: Insurance is a financial product that provides protection against potential future losses in…
Q: What is Job Match Quality? a. The marginal product associated with the match of a particular worker…
A: Job match quality represents that how efficiently characteristics of an individual worker match with…
Q: A firm has $2,100,000 in sales, a Lerner index of 0.57, and a marginal cost of $40, and competes…
A: A firm has $2,100,000 in sales. The Lerner index is 0.57 The marginal cost is $40
Q: 3. Compare treatments for infective and chronic diseases and explain which one is more likely to…
A: A cost or benefit that has an impact on a person who is not directly involved in the creation or…
Q: Compare and contrast monopolistic competition with a monopoly. Be sure to explain what is similar…
A: Monopolistic competition and a monopoly are both market structures that exist in imperfect…
Q: 20, 20
A: Cuddy X Y Z House A 80,30 0,20 20,20 B 85,15 20,20 5,5 C 95,25 5,25 5,25…
Q: 15 22.75 2.75 15 23 2.2 Price and costs are in thousand pesos M 4 5 FIRM II AC AFC 11 5 15 11 2.5 15…
A: In perfectly competitive market, there are many firms selling identical goods. Consumers can not…
Q: what are the factors that determine money supply
A: Money supply refers to the total amount of money that is circulating in the economy at a given point…
Q: The Cobb-Douglas production function for a particular product is N(x,y) = 60x0.70.3, where x is the…
A: Optimal Production Quantity is the least amount of order that has to be manufactured to avoid…
Q: In a market that produces hotdogs operates in the long-run, and that each firm and potential entrant…
A: Market clearing condition meand to the equilibrium point in a market where the quantity supplied is…
Q: How would the Cournot equilibrium change in the airline example if American's marginal cost were $70…
A: The optimum response function for each nation must first be derived before we can calculate the…
Q: $200 today and a call option on that stock that gives you the right but not the obligation to buy…
A: Calculating the expected payout of the call option in each of the two scenarios is necessary to…
Q: hey im confused. when i enter this into my calculator 50/(1+0.05) + 50/(1+0.05)2 + 1000/(1+0.05)2 i…
A: Quantity demanded is actually indicating the total demand of the goods and services which is…
Q: Investment cost (thousands) Annual revenue minus expense (thousands) IRR on total investment A $80…
A: Given MARR =19%. Salvage value after 10-year study period = Initial investment IRR analysis: The…
Q: 7. The money creation process Suppose Southeast Mutual Bank, Walls Fergo Bank, and PJMorton Bank all…
A: The required reserve ratio refers to the percentage of deposits that a financial institution, such…
Q: changes, when production is zero. The relationship between total variable costs (7.7) Variable costs…
A: Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Consider an economy with a natural unemployment rate, u, of 9%. The expectations-augmented Phillips…
A: Okun's Law is a rule of thumb used to examine the relationship between output and unemployment…
Q: (d) The producer surplus is $_ 1600 million. Now, suppose the government imposes a quota of 60…
A: The equilibrium is where the demand curve intersects the supply curve. Producer surplus is the area…
Q: Suppose that low-productivity workers all have marginal products of 10 and high- productivity…
A: A separating equilibrium is a concept in game theory and economics that describes a situation where…
Q: 7. The theory of efficiency wages Why might some firms choose to pay workers a wage above the market…
A: Efficiency wages are believed to be paid by employers who pay their staff better salaries. This…
Q: BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville.…
A: In the case of a monopoly, the equilibrium quantity is decided at a point where the marginal revenue…
Q: To eliminate the deficit (and halt the growth of the net public debt), a politician suggests that…
A: The deficit means the government expenditure being larger than the government revenue. The…
Q: The monopsony's labor supply is w= 200+ 4L. Which of the following is the firm's marginal…
A: Monopsony's labor supply w = 200 + 4L
Q: A consumer has income of $15,000. Pillows costs $35 per pillow, and soda costs $70 per bottle.…
A: According to the rationality assumption in microeconomics, consumers are assumed to be rational and…
Q: 1) Following is information for the economy of Sparkle. All units are million dollars. Their…
A: A society's mechanism for producing, distributing, and consuming products and services is referred…
Q: How do I find present worth?
A: Present worth, also known as present value, refers to the current value of a future sum of money,…
Q: LIVING IN SPAIN Jackie moved to Spain to work for a public relations firm. She had health insurance…
A: A healthcare system is a complex set of organizations, people, and resources that provide healthcare…
Q: a) complete the table to find the Qd, Qs b) what are the equilibrium P and Q of cherries? c)…
A: Quantity supplied refers to the amount of a good or service that producers are willing and able to…
Q: Economics often uses the household as the decision-making unit. What precisely is meant by a…
A: “Household decision making” refers to the decision making by consumer that involves more than one…
Q: The following data are for the economy of Moksha. G-170 X-50-9.1Y a Calculate equilibrium GDP…
A: DISCLAIMER: “Since you have asked multiple question, we will solve the first three question for you.…
Q: A. You have been employed as policy maker to the federal government of your country. Discuss some of…
A: A federal system of government is one in which a central government and its constituent political…
Q: The following is information for the economy of Tandor, where taxes are wholly autonomous: C 60+…
A: The level of income can be calculated through the expenditure method by taking the consumption,…
Q: Aggregate supply describes the relationship between O price level and real GDP nominal and real GDP…
A: Aggregate supply refers to the total amount of goods and services that firms in an economy are…
Q: What is the value of the money multiplier if the target reserve ratios of all banks in the banking…
A: Reserve is the part of deposit that is mandatory to keep aside by the banks as per the rules of…
Q: Now consider the same industry but assume that two firms with the same cost function c(qi) = 2 * qi…
A: Bertrand competition is a model of duopoly where two firms produce identical goods and compete on…
Q: In solving, indicate the Cash Flow Diagram and Solution Lourdes has just retired and plans to…
A: Given: Annual interest rate = 9.6% compounded semiannually Withdrawals amount each year starting one…
Q: The graph shows the demand for university education. The marginal cost of educating a student is a…
A: The given information states that there is a positive externality. Positive externality occurs when…
Q: uppose that Maria is starting a food ordering and delivery company. Customers order meals online.…
A: Marginal cost is the price of manufacturing an extra unit of a good.(MC). Fixed costs are those…
Q: In a function particular county in California, the demand function for each person i for a…
A: Individual demand function: Qdi=150+0.15×Ii-5P Supply function of a single firm:…
Q: BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville.…
A: Profit maximising level of output is decided at a point where the marginal revenue curve and the…
Q: a. What increase in aggregate demand is necessary to achieve this? billions. b. If successful, what…
A: Aggregate demand refers to the total demand for commodities and services made by all the economic…
Q: 2. Explain the difference between a "stop loss" and a "deductible." Let the demand curve for an…
A: Stop Loss An insured person can anticipate paying no more than a predetermined sum (in this case,…
Q: 1. Give examples to illustrate how the following can be substitutes or complements: a. physician and…
A: Substitute goods refer to those goods that are regarded by the customer to be the same, i.e. they…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- What is the relationship between quantity Demanded and quantity supplied at equilibrium? What is the relationship when there is a shortage? What is the relationship when them is a surplus?Review Figure 3.4. Suppose the price of gasoline is $1.60 per gallon. Is the quantity demanded higher or lowerthan at the equilibrium price of $1.40 per gallon? What about the quantity supplied? Is there a shortage or a surplusin the market? If so, how much?The market for pizza has the following demand andsupply schedules:Price Quantity Demanded Quantity Supplied$4 135 pizzas 26 pizzas5 104 536 81 817 68 988 53 1109 39 121a. Graph the demand and supply curves. What arethe equilibrium price and quantity in this market?b. If the actual price in this market were above theequilibrium price, what would drive the markettoward the equilibrium?c. If the actual price in this market were below theequilibrium price, what would drive the markettoward the equilibrium?
- 2. Draw a demand and supply diagram to show surplus and shortage.Review Figure 3.4 again. Suppose the price ofgasoline is $1.00. Will the quantity demanded be loweror higher than at the equilibrium price of $1.40 pergallon? Will the quantity supplied be lower or higher? Isthere a shortage or a surplus in the market? If so, of howmuch?What is Shortage & Surplus; graphically show and explain?
- Price of Gasoline P. Exhibit 4-9 Maximum allowed price Quantity of Gasoline has been imposed, and, as a result, aof gasoline occurs. Refer to Exhibit 4-9. The graph portrays the market for gasoline for which a O price floor surplus O price ceiling: shortage O price ceiling surplus price floor, shortage10 tof 8. estion 4. 2. 100 200 300 400 500600 Quantity At a price of $4 in the above figure Select one: O a. there is a surplus of 200 units. O b. there is a shortage of 200 units. Oc. the quantity supplied is 400 units. O d. the equilibrium quantity is 400 units. Price N 期 拼拼At what point, the demand curve cut the supply curve, and is the point at which the wishes of the buyers and sellers coincide? a. Both shortage and surplus b. Shortage c. Surplus d. Equilibrium
- 10. What factors can change demand? What factors can change quantity demanded? 11. When a person goes to the grocery store to buy food, there is no auctioneer calling out prices for bread su other items. Therefore, supply and demand cannot be operative. Do you agree or disagree? Explain vour e, milk, 12. The price of a given-quality personal computer is lower today than it was five years ago. Is this necessarily the resuke of a lower demand for computers? Explain your answer. 13. What is the effect on equilibrium price and quantity of the following? a. A decrease in demand that is greater than the increase in supply b. An increase in supply c. A decrease in supply that is greater than the increase in demand d. A decrease in demand 14. At equilibrium quantity, what is the relationship between the maximum buying price and the minimum selling price? 15. If the price paid is Php40 and the consumers' surplus is Php4, then what is the maximum buying price? If the minimum selling price is…The demand for a good increases when the price of a substitute ________ and also increases whenthe price of a complement ________.A) falls; falls B) rises; falls C) rises; rises D) falls; risesRefer to the following table to answer the next question. Price Quantity Demanded Quantity Supplied $20 10 50 $17 20 40 $14 30 30 $11 40 20 $8 50 10 $5 60 60 0 If the price of this good is $11, there would be a O surplus; 30 O surplus; 20 O shortage; 30 O surplus; 10 O shortage; 20 of units.