how does the position of the marginal consumer between any two firms depend on the total number of firms on the market? Explain mathematically and intuitively...
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A: The equation is already given: M = Q0.3A0.7 A=1000 and M=2000 We substitute these equations to find ...
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A: To find : Change in demand of meat due to covid-19
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A: To find : Which is exception to law of Demand.
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- why is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphically86) An economy unit of agricutural output raquires 0.L'unit of ag ristural input and agriultural industy and a teatile industry. Each has 9n 0.1 unit of textiles inputs. Each unit of textiles output requires o.1 unit of agricul tural imput and 0:2 unlt of textiles input. a Write the technoligy matrix for this b) If surpluses of S units of agrlualhural products and15 units of texti le s ave desired, final the gois poluchion of each industry econdny. .The market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market supply for goodXis given by: \[ Q_{s}=-14+2 P \text { or } P s=7+1 / 2 Q \] whereP=price per unit andQis number of units. Draw a supply-and-demand graph with these curves. 1.) Using the line drawing tool, draw the supply and demand curves. Properly label your lines. 2.) Using the point drawing tool, plot the equilibrium point. Label your point 'E'. Note: Carefully follow the instructions above and only draw the required objects. The equilibrium price is$and the equilibrium quantity is unit(s). (Enter your responses as integers.) A per-unit excise tax is imposed on suppliers of productX, and the market supply with the tax is now given by: \[ Q_{s}=-19+2 P \text { or } P s=9.50+1 / 2 Q \] Using the graph on the right, show this supply curve. 1.) Using the line drawing tool, draw the new supply curve. Label your line 'S1+tax'.1. Note: Carefully follow the instructions above and only draw…
- Consider the production problem discussed in class in which 24 labor hours and 4 machinehours are to be allocated between food (x) production and wine (y) production. Suppose theproduction functions for x and y are as follows:Also, suppose the preferences of the agents are given by:Finally, suppose the MRT is given bywhere x and y denote, respectively, the aggregate quantities of food and wine produced.For each of the following allocations, determine whether they are (i) feasible and (ii) Paretoefficient. If they are inefficient, explain intuitively how it is possible to make someone betteroff without making the other person worse-off.a. ((14,2),(10,2),(5,10),(23,18))b. ((8,2),(16,2),(5,14),(11,18))c. ((14,2),(10,2),(14,21),(14,7))9:16 O 939 78 B/s Answered: Directi.. O bartleby.com = bartleby Q&A A 8 Business / Econom... / Q&A Libr... / Directions: Pl... Directions: Plot the following hypot... VVIIVMIVV IV Commody Xin a gaphin pae. Quantity Demanded Price Quanty Suppied Directions: Plot the following hypothetical market demand and supply schedules for commodity X in a graphing paper. Quantity Demanded (Units) Quantity Supplied (Units) Price (Peso) P 30.00 150 900 300 350 25.00 800 700 20.00 600 15.00 600 800 10.00 5.00 400 1000 200 1. What is the equilibrium price? Equilibrium quantity? Get help on your homework or study prep questions, at no additional cost. Experts are waiting! Start chat Expert AnswerAccording to Alan Krueger, drivers who partner with Uber appear to be attracted to the platform in large part because O the level of compensation O the fact that earnings per hour do not vary much with hours worked, which facilitates part-time and variable hours of the flexibility it offers O all answers are correct
- Can economic analysis provide a final answer to the question of whether the government should intervene in markets by imposing price ceilings and price floors? Why or why not? O A. Economic analysis can provide such an answer because it seeks to address both positive and normative questions such as "what is" and "what ought to be." O B. Economic analysis cannot provide such an answer because it seeks to address positive questions such as "what is." OC. Economic analysis can provide such an answer because it seeks to address normative questions such as "what ought to be." O D. Economic analysis can provide such an answer because it seeks to address positive questions such as "what is." O E. Economic analysis cannot provide such an answer because it seeks to address normative questions such as "what ought to be."Hi, the question is Doug William, the owner of a corner store, estimates that the supply and demand for a specialized energy drinkcould be described by the following equationsD : q = −25p + 345, S : q = 50 p − 330 ,where p represents the price in dollars per case (each case contains 12 bottles), and q represents the number of cases sold each week. I want you to help me with how to... Set the problem in Excel, and use Goal Seek to confirm your answers in parts2. How could the principle of environmental resources such as the atmosphere and of conchisions about optimal depletion apply or not? resources? Kine Exercises 5b intergenerational allocation of resources. Suppose a generation is thirty-five vee of we are concerned with only two generations. Demand and supply functions for oil in the present generation are given by: Demand: Qd = 200– 5P or P = 40– 0.2Qd %3D Supply: Qs = 5P or P = 0.20s %3D (a) Draw a demand and supply graph showing the equilibrium price and quantity consumed in this generation in the absence of any consideration of the future. Now draw a graph showing the marginal net benefits from consumption in this period at all levels of consumption up to the equilibrium level. Express the net benefit (benefit minus cost) algebraically. (b) Suppose that the net benefit function is expected to be the same for the next generation. But there is a discount rate (interest rate) of 4 percent per annum, which for thirty-five years works…
- Define the Market Economy term and provide an original, economics-based explanation of the term. Aslo provide a real/hypothetical contextual example (different from that provided in the text) of the term as it is applied to economics.If the supply and demand functions for a commodity are 100 + 2(4+ Pa = - (Q.) P₁ = (Q + 2)² E plot each function on the same graph Estimate the quarum price and quarty aigebraicaty and graphicaly w▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪ ‒‒‒‒‒‒‒‒‒‒‒‒wwwwwwwwwConsider the following scenario to understand the relationship between marginal and average values. Suppose Jake is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Jake's free-throw percentage for each game and his overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 8/10 8/10 80 80 4/10 12/20 2/8 14/28 4 2/4 16/32 6/8 22/40