Question 3 A firm in a competitive price-searcher market faces O a horizontal demand curve at the market equilibrium price. O a horizontal demand curve at every price. O an upward-sloping demand curve. O a downward-sloping demand curve.
Q: playing a called Jame O Suppox Edie and Joshug ane « Chicken! They eaih drive thair car down the can...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: Bosch has two production plants, one in Bursa and another one in Cerkezkoy. Asume that Bosch is a Mo...
A: monopoly is the form of market structure where single seller sell the products to large numbers of b...
Q: Which of the following will shift an economy's production possibilities curve outward?
A: Production possibility curve is the graphical illustration of the the combination of two goods that ...
Q: ase go to www.federalreserve.gov e and briefly describe the structure of the U.S. Federal Reserve sy...
A: The central banking system of the United States of America is known as the Federal Reserve System. I...
Q: A price tag of $1,200 is payable in 60 days but if paid within 30 days, it will have 3% discount. Fi...
A: Given: The amount of price tag is = $1,200 Payable in = 30 days The rate of discount is = 3% To Find...
Q: In a small economy the disposable income, consumption, and saving in some country are $200 billion, ...
A: Marginal Propensity to Consume is the proportion of an increase in income that gets spent on consump...
Q: Price elasticity of demand for cigarettes is relatively inelastic at low prices and relatively elast...
A: Price elasticity of demand measures the degree of responsiveness of the quantity demanded of the com...
Q: How can we solve the externalities that are related to common resources and public goods? Select an ...
A: Public goods are those goods which are freely available on the market and whose use does not affect ...
Q: Calculate cross price elasticity when change in price of bread is 6% and change in quantity demanded...
A: Complementary products are defined as those goods which are demanded together. If the price of the i...
Q: For all calculations, carry out each step to 6 decimal places, never put into % form. Final answers ...
A: Location quotient of transportation=200015400Location quotient of transportation is 0.129870
Q: Smith, Jones, and Brown were creditors of White, who operated a grain elevator known as White’s Elev...
A: This is the form of business entity which is formed by an agreement, owned and managed mutually by t...
Q: What are some of the ways that you can suggest that can help address the inequalities between rich a...
A: The problem of non-availability of food is growing day by day. There have been instances when nation...
Q: QUESTION 10 (continued) Based on the numbers in the previous problem economists have calculated that...
A: The growth in the GDP will depend on the contribution of capital towards the GDP growth. The positi...
Q: To spur economic growth, underdeveloped countries should: trade with foreigners. O do all of these. ...
A: Economic growth refers to increase in real GDP in the economy, that is increase in economic activiti...
Q: The table below contains the price indexes for the macroeconomy for several years. Price Index...
A: Here, the given table shows the price index in five consecutive years from 2010 to 2014.
Q: Assume the Philippines government adopted fiscal policy measures to reduce the severety of typhoon H...
A: Typhoon Haiyan, also known as Super Typhoon Yolanda in the Philippines, was one of the most intense ...
Q: Define Supply?
A: Answer is given below
Q: Suppose that two firms, X and Y, face the following marginal abatement costs (MACX and MACY) and tot...
A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost th...
Q: Next question A example of a good with external benefits is A. a sewing machine. B. a pair of runnin...
A: Externality refers to spill-over effect of production or consumption of the good on third party or s...
Q: Given one procedure or service provided by certain hospital, all different payers would be charged t...
A: In the healthcare system, the price of any service or procedure is determined y the demand and suppl...
Q: If there is a shortage of loanable funds, then • 1) the quantity of loanable funds demanded is great...
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: installation, amounted to P30,000. At the end of its estimated useful life of 10 years, the salvage ...
A: Book value is the value of an asset according to its balance sheet account balance. For assets, the ...
Q: Rewrite it
A: The article is about the PPF. PPF refers production possibility frontier, which is also known as the...
Q: Because education generates a positive externality, ..... O A. subsidies to colleges or vouchers to ...
A: A positive externality occurs when the production of goods and services indirectly benefits a third ...
Q: ountry of Economica's GDP deflator and nominal GDP in three different years are shown in the table. ...
A: Here we have to find real GDP .
Q: In Econland, the monetary base is $1,000. People hold one-third of their money in the form of curren...
A: please find the answer below.
Q: The figure below represents the short-run curves for TK Ltd, a popular Chinese cuisine restaurant. A...
A: The above question is related to the concept of market structure. There are primarily two types of m...
Q: Suppose you are the manager of a watchmaking firm operating in a perfectly competitive market. Your ...
A: In perfectly competitive market, price is constant so price is equal to marginal revenue. Firms will...
Q: Is there a role for government in reducing the negativeeffects of dual employment
A: Dual employment refers to a situation when an individual is engaged with two jobs at the same time. ...
Q: A consortium of international telecommunication companies contracted for the purchase and installmen...
A: Given:- Total cost=US$990 million Charges=10% Period=16 years Salvage value=0 To calculate:- Book va...
Q: Assume that the total hours of work in Mexico are 200 in the year 2019 and the productivity is $8 pe...
A: Given Total hours of work in 2019 =200 Productivity =$8 Per hour worked. Total hours of work in 202...
Q: A mother who does not work receives $18,000 in welfare benefits from the government. Suppose that sh...
A: The poverty trap refers to the situation when it is not possible for the poor population to come out...
Q: Case Study 1: Nancy is leading a Scrum project for her organization. The project is to create new s...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: 3. If the economy characterized by this production possibilities table and curve were producing 3 au...
A: The question talks about PPC which is such a curve that represent possible combination of two goods ...
Q: The economy below has a linear production possibility frontier, given by C=Y-G/q. The government has...
A: For inferior goods, quantity demanded decrease if price decrease. Here public good has become relati...
Q: 3. If a good generates a negative externality, does the free market result in overproduction or unde...
A: Externalities shows the spillover effects of one person economic activities to another people's well...
Q: Which of the following correctly describes imperfect information? Select the correct answer below: a...
A: Imperfect information is a part of asymmetric information and it leads to market failure.
Q: 11. Consider the growth model diagram below. If an economy starts with 12 units of capital (labeled ...
A: At 12 units of capital, I>dK. Since investment is greater than depreciation, the economy grows.
Q: Suppose Charles would like to use $4,000 of his savings to make a financial investment. One way of m...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: Dividends and pensions can provide liquidity to investors * True or False?
A: Dividends and pensions can provide liquidity to investors. - TRUE
Q: The New York Times has stated that Mylan, the company that makes the now infamous Epipen, has become...
A: A patent is a sort of intellectual property that grants its possessor the legal right to prevent som...
Q: Your group won $100 from a Tiktok dance challenge. You have a choice between spending the money now ...
A: When talking about opportunity cost, it refers to the loss of income or additional cost that occurs ...
Q: good i. P =200 - 10Q ii. P =200 - (20/3)Q Select an answer and submit. For keyboard navigation, use ...
A: here we calculate the market demand curve by the following method as follow;
Q: 9. The People's Republic of China has an estimated $101.54 trillion of capital with a depreciation r...
A: In China, New investment=I=$20.5*0.45T=$9.225T Depriciation=dK=$101.54*0.052=$5.28T I>dK, so chin...
Q: Below is Econbank's balance sheet. Assets Liabilities and Owners' Equity Reserves $100 Deposits $800...
A: please find the answer below.
Q: Income Expenditures 0 100 100 150 200 200 300 250 Refer to the table above to answer the following...
A: AE is shows aggregate expenditure in the economy, some of which is autonomous and some is induced.
Q: Use the following graph: The graph below pertains to the supply of paper to colleges and universitie...
A: * ANSWER :- Based on the above information the answer is provided as below.
Q: Question 8 Suppose Total revenue from the sale of output is given below Output Total Revenue 1. 9. 1...
A: Marginal revenue is a central concept in microeconomics that describes the additional total revenue ...
Q: Suppose that governing authorities require that the price of food to be zero. Explain why the quanti...
A: Equilibrium price is the price at which quantity demanded equals quantity supplied and the market cl...
Q: Consider the market for laptop bags. Suppose the price of laptops decreases. This change has what ef...
A: Two goods are complements when they are used together
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- QUESTION 33 Consider a major producer of liquid soap. Which of the following would not shift its supply curve of liquid soap inward (to the left)? O a. A substitute in supply becomes more profitable O b. Environmental regulations requiring the producer to use a more costly technology to produce liquid soap O c. An increase in the wage rate for factory workers who produce liquid soap O d. A decrease in the price of liquid soapFor a profit-maximizing price-taker firm, a reduction in the price of a good will cause the marginal revenue for that firm to and the quantity the firm produces to a. Fall; Fall O b. Rise; Fall O c. Rise; Rise O d. Fall; RiseMo increase production from 5 O True O False 6 fire engines because the dominates in this scenario. True or False: If alternatively Mo's HookNLadder were a competitive firm and $160,000 were the market price for an engine, decreasing its price from $160,000 to $120,000 would result in a decrease in the production quantity, but an increase in total revenue.
- Sean's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Sean produced five fire engines, but he has decided to increase production to six fire engines. The following graph shows the demand curve Sean faces. As you can see, to sell the additional engine, Sean must lower his price from $160,000 to $120,000 per fire engine. Note that while Sean gains revenue from the additional engine he sells, he also loses revenue from the initial five engines because he sells them all at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial five engines by selling at $120,000 rather than $160,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $120,000. (? 200 180 Demand Revenue Lost 160 * 140 120 Revenue Gained 100 80 60 (Thousands of dollars per fire engine)Which of the following statements is TRUE? O Assume that wheat farmers operate in a competitive industry. A decrease in the cost of producing wheat will lead to greater profits for wheat farmers in the long run than in the short run. O A rational decision maker will never take sunk costs into account. A change in price will have no effect on total revenue when the own-price elasticity of demand is zero. O (From the perspective of the consumer) When the fixed fee increases, the quantity consumed will always decrease.Wheat is produced in a perfectly competitive market. Market demand for wheat increases. This will cause the individual wheat farmer's marqinal revenue to maximizing level of output to and their profit- O a. decrease; increase O b. decrease; decrease O c. increase; increase d. increase: decrease
- To Coal Coal FROM Valley Coaltown Junction Coalsburg Supply 50 30 60 70 Morgantown 30 5 35 20 20 80 10 Youngstown 100 Pittsburgh Demand 30 45 40 90 90 20 60 40 80 30 5 25 20 20 20 25 120 What is the improvement index for Youngstown to Coal Valley? O a. -70 O b. 130 O c. -80 O d. 160 O e. 100 2724. Competition à la Cournot with homogenous goods and symmetric convex cost functions. Consider an industry with N > 2 firms competing à la Cournot, facing inverse demand function p(Q) = a – bQ, where Q = E1 9i and symmetric cost function c(q;) = cq; + q where a > c, d > 0, b > 1 and d+ 26 > 0. (You may also assume that < - to avoid settings with negative costs). As a remark, note that marginal costs in this setting are c(qi) = c+ dq; , which is increasing in firm i's output. 26+dSuppose that bicycles are produced by a perfectly competitive, constant-cost industryWhich of the following will have a larger effect the long-run price of bicycles: a government program to advertise the health benefits of bicyclingor (2) a government program increases the demand for steel, an input in the manufacture of bicycles that is produced in an increasing cost industry ? O. Option 1: shifts the demand curve out and increases the price. O. Option 2: shifts the supply curve up and increases the price O. Option 2: it shifts the demand curve up and increases the quantity. O. Option 2: shifts the supply curve up and increases the quantity.
- In a competitive market with free entry and exit from the market a permanent rise in demand will lead to Select one or more: O a. excess profits being made in the short run (before new firms can enter) O b. entry by new firms O c. a permanent rise in prices O d. normal profits being made in the long-runIn a competitive market with free entry and exit from the market a permanent rise in demand will lead to Select one or more: O a. excess profits being made in the short run (before new firms can enter) O b. entry by new firms Oc. a permanent rise in prices O d. normal profits being made in the long-runFirms ill a perfectly competitive market are said to be price takers that is, once the market determines an equilibrium price for the product, firms must accept this price. If you sell a product in a perfectly competitive market, but you are not happy with its price, would you raise the price, even by a cent?