1. Suppose all firms in a monopolistically competitive industry were merged into one large firm. Would that new firm produce as many different brands? Would it produce only a single brand? Explain.

Q: (Table: Four persons) The table lists the minutes that it will take four people to wash a car and to...

A: Opportunity cost of washing a car = (Minutes takes to wash a car / Minutes takes to sort & fold ...

Q: 27.A household buys U.S. government bonds, and at the same time the Federal Reserve (Fed) also buys ...

A: Here, it is given that households and Fed, both are buying government bonds at the same time.   

Q: The demand curve for a monopolist is gi X = 100 4p %3D (i) Find TR, AR and MR (ii) At what value of ...

A: In a monopoly, Marginal revenue lies below the demand curve. The seller has to lower the price in or...

Q: Who benefits and suffers consequences from economic sanctions?

A: Economic sanction refers to the situation when a country is restricted to make international transac...

Q: 3. The year-end operating and maintenance costs of a certain machine are estimated to be P4,800 the ...

A: Given first year cost = P 4800 constant rise in cost each year = 800 P interest rate = 5 % time = 8 ...

Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand Equation : q ...

A: (1) q=800 - 20p ----------> demand equation => p = (800 - q)/20 => p = 40 - 0.05q ---------...

Q: Who is generally regarded as the founder of the 'Classical School'?

A: To find : Who is founder of classical school. 

Q: Consider a bond that promises to pay $100 in one year. If the interest rate is 6%, the price of the ...

A: Given, future price = $100 Interest rate = 6% / 0.06 The formula to measure today's bond price is gi...

Q: In the short run, when the output of a firm increases, its average fixed cost

A: To find : What will be average fixed cost. 

Q: There are N sites that need protection (number them 1 to N). Someone is going to pick one of them to...

A: Probability of a successful attack =  1 - 1/N2 Probability of defended attack = 1/N2 Expected Value ...

Q: Compare and contrast the different approaches to environmental policymaking

A: Environmental policymaking The term environmental policymaking means to issue laws, policies or any ...

Q: What is the nature and function of Government-owned and Controlled Corporations (GOCCs)? Site exampl...

A: GOCCs are administered by the Governance Commission for Government-Owned or Controlled Corporations ...

Q: When discussing the appearance of "real people" in documentary films, Bill Nichols uses the term liv...

A: A documentary film is a non-fictional motion picture that aims to educate the audience "Document the...

Q: In which year did the economy above most likely have an actual unemployment rate equal to the sum of...

A: The economies around the globe are involved in various economic, and financial transactions, and act...

Q: Economic theory assumes consumers are rational.  Still, in practice, we see a lot of irrational beha...

A: In behavioural economics, economists assume that consumers are always rational and would like to spe...

Q: Octopus has 5RL (Right Legs) and 3LL (Left legs) Will only wear matching shoes on all 8 legs   Ut...

A: Given information Utility function   U(q1,q2) = min[3q1,5q2] q1 = number of right shoes   q2 = numbe...

Q: You are the Southeastern Michigan regional manager at Coca-Cola, responsible for production and pric...

A: Given inverse demand function P=10.25-0.00025Q TC for coca cola = 0.25q

Q: How does Nokia's wrong strategic response to changing market conditions cope with economic decision'...

A: Nokia made the mistake of being myopic and comfortable with their achievements, failing to see their...

Q: A country is the only production site in the world for "hyperhoney infinite pasta", a wonderful prod...

A: International economics is concerned with the effects of international differences in productive res...

Q: A company owes P 80,000, which includes the interest, to be paid one year from now. To provide for t...

A: Disclaimer: Since you have posted two questions, I am providing you with the answer to the first one...

Q: Chinese economic growth is the outstanding feature of the world economic scene over the past two dec...

A: Introduction In 2018 US economy has $ 20.5 trillion and the economy grows at annual rate of 2.2% per...

Q: If a good is a luxury, its income elasticity of demand is

A: To find : What will be income elasticity of demand. 

Q: Graph Name Halloween Costume Pe Increase Q   ∆ in D Increase ∆ in Qd Increase ∆ in S Decrese...

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes a...

Q: Question 6 Discuss TWO major virtues of a market system.

A: A market system is any systematic process that allows many market participants to offer and demand: ...

Q: b) If AR at this output is below AVC.

A:

Q: When a small country imposes a tariff on an imported good, domestic consumers bear of the statutory ...

A: In an economy, statutory burden refers to the tax that actually paid by the market participant, and ...

Q: Nominal interest rates differ from real interest rates in that real interest rates are expressed in ...

A: Real interest rate refers to the nominal interest rate that is adjusted for inflation.

Q: ecause banks tend to hold fractional reserve ratios, what can we conclude? O a. Bank run may be poss...

A: Under the fractional reserve system, banks keep certain part of the deposit as cash or reserve and l...

Q: Suppose that K(t+5)/N > K(t+3)/N, where K(t+3) is capital in period t+3 and K(t+5) is capital in per...

A: Here, it is given that capital per worker in t+3 period is less than capital per worker in t+5 perio...

Q: The city debates about how to attract more people to dine out in Sydney Nick is from sydney. Has st...

A: According to suggestion A, 4 meal vouchers each worth $40(total $160) are provided per month to attr...

Q: You are the manager of College Computers, a manufacturer of customized computers that meet the speci...

A: Monopoly refers to the market where the price is charged higher than the marginal cost such that the...

Q: (1) If you have been hired at an annual salary of $23,000 and expect to receive annual increases of ...

A: Inverse of a function is found by finding x in terms of y. 

Q: 7. Saving to withdraw represents this function of money: A: commodity money B: medium of exchange C:...

A: Saving to withdraw represents which function of money Correct option (C) Store of Value: Because, A ...

Q: A profit-maximizing monopolist finds that if it remains open, the best output is 50 a week, but at t...

A: The profit maximizing monopolist will produce output at point where MR = MC and charge price with re...

Q: Consider a two-period model in which you work and save in the initial period (period 0) and live off...

A: r= 0.5 Y0= $250,000 Y1= $0

Q: Assume the following consumption schedule: C=20+0.9Y, where C is consumption and Y is disposable inc...

A: The given consumption schedule is C=20+0.9Y Where C= Consumption Y is the disposable income The aut...

Q: Is the demographic transition a universal process?

A: Demograhic transition is a universal phenomenon.

Q: Small nations like Ecuador or Panama, whose imports are a very small share of the world market, to b...

A: For the small nations it is very costly to produce goods and services that require sophisticated tec...

Q: Suppose a government report about a country's employment situation reveals the following data (all v...

A: 1) If the country in question is the United State, these data are obtained from Household Survey. 2)...

Q: Historically, which of the following are reasons that a large US public debt might not threaten to b...

A: An increase in US public debt might not threaten to bankrupt the Federal government on account of di...

Q: Suppose the evening news anchor announces that "The Bank of Canada Raises the Target Overnight Rate ...

A: Target overnight rate is the interest rate at which banks borrow and lend from one another in the ma...

Q: how price system influences the government and revenues?

A: Until the 1970s, the government was widely recognised for its influence on markets. Today, there are...

Q: In a paragraph. Explain the tradeoff involved in determining the optimal length of intellectual prop...

A: Intellectual property protection is to provide property rights which means to preserve or protect in...

Q: Explain why the FOMC is expected to increase its target overnight interest rate.

A:

Q: Suppose market demand for oil is Q(P) = 100 - 0. 75P where Q is billions of barrels (BBL)or oil per ...

A: According to the question ; Q(P) = 100 - 0.75 P MC (Q) = 7Q2 - 3Q + 6 or  Yearly Market Demand : Q =...

Q: 20. Each year a single payment of P1766 is deposited in an account that earns 6% compounded continuo...

A:

Q: If the depreciation rate increases from 5% to 10%, it will ___ in the long run. decrease the level ...

A: A decrease the level of output Due to the decrease in the depreciation rate it would likely be an im...

Q: Which of the following statements is (are) CORRECT? a. The higher the cash withdrawals by customers,...

A: The answer is - d. All of the answers are correct.

Q: Octopus has 5RL (Right Legs) and 3LL (Left legs) Will only wear matching shoes on all 8 legs   Ut...

A: The optimal consumption bundle is at the point of tangency between the indifference curve and the bu...

Q: For the following questions, make use of provided information. Since the peak of the pandemic shutdo...

A: Money supply means the supply of currency into the economy. It means the money moves by the Federal ...