A country is the only production site in the world for "hyperhoney infinite pasta", a wonderful product produced using a delicate, highly perishable extract obtainable from some trees that grow only in this country. Beyond a very small size, there are no internal or external scale economies at present. Furthermore, there is no domestic demand for this product in the country, so all production will be exported. The country’s government has the choice of forming the pasta-producing industry either as a monopoly or as a large number of small pasta producers that will act as perfect competitors. What is your advice to the country’s government about which market structure to choose for the pasta industry? Why?

Q: You have been commissioned to estimate the demand curve for admission to Lake Saint- Michel, a recre...

A: The gap between expected and actual consumer expenditure is known as the consumer surplus. It's the ...

Q: Which of the following is NOT part of monetary policy? * a. influencing the demand for goods and se...

A: Monetary policy is operated by the central bank of a country. Monetary policy affects the money supp...

Q: II. Helping Conchita-Crem to minimize costs Suppose that the labor cost of Conchita-crem is $20 USD ...

A: Given production function q=10L^0.5 K^0.5 Price of labor=$20 Price of capital=$5

Q: Automatic stabilizers   a)increase consumption during a recession above what it would otherwise be...

A: Automatic stabilizers work to maintain the equilibrium in the economy.  Too much of inflation or def...

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: a. What factors determine the elasticity of resource demand? Ease of resource substitutability, elas...

A: a. The elasticity of resource demand is determined by whether or not the resource has close substitu...

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

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

Q: 14. In which form, the largest percentage of national income is earned? A. O Interest income B. O Pr...

A: National Income is the aggregate earning of country's production in the current year which includes ...

Q: The value of money depends on which of the following factors? O a. The durability of the bills O b. ...

A: Answer to the question is as follows:

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

A: Disclaimer: “Since you have asked multiple questions, we will solve the first three questions for yo...

Q: currently, the federal minimum wage is set at $7.25 per hour. a survey conducted bynewsweekmagazine ...

A: A lowest wages permitted by law is the most minimal compensation that businesses can lawfully follow...

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

A: When we are considering the inflation increment then the major reason behind it is an increase in ag...

Q: 8. A 1.25 acre lawn is to be sodded with Cavalier zoysiagrass, which can be delivered at a cost of $...

A: The total cost of sodding 1.25-acre lawn = Cost of sodding per square yard * Total square yards

Q: d on Megan's and Larry's respective willingness to pay, plot the market demand curve on the followin...

A: Assume that there is a market- market for apartment. The price of each apartment is $100,000. Suppos...

Q: 1.Explain the relationship between PPF and supply curve? 2.A recent news report suggested that unive...

A: (1) PPF is the production possibility frontier which shows the bundles of two goods which can be pro...

Q: The equations below represent the demand and supply curves for annual gym memberships in a certain c...

A: Given: Demand equation: qD=500−2p    ... (1)  Supply equation: qS=0.5p−50      ...(2)  

Q: The most efficient scale of production of a firm is where

A: To find : Which is most effective case of efficient scale of production. 

Q: n Canada everyone has equal access to healthcare. However, emergency, imaging, surgery and treatment...

A: In Canada even though everyone has the equal access to the healthcare, causes more demand by the peo...

Q: Q1. Consider a Cobb-Duglas utility function: log U = log A +a log X1 +b log X2 Given the prices of c...

A: a. MU1=ax1MU2=bx2MRS=ax1bx2=p1p2⇒p1x1=abp2x2From Budget constraint,p1x1+p2x2=M⇒(1+ab)p2x2=M⇒x2(p1,p2...

Q: The optimal level of production is the level that either maximizes profits or minimizes losses. How ...

A: Answer: An optimal level of production refers to that level of output where the profit is maximum or...

Q: In the simple Keynesian model, if aggregate expenditure is less than GDP, output will a)decline as ...

A: The expenditure-output model displays the relationship between aggregate expenditure and economic ou...

Q: Compare and contrast the three major approaches to environmental policy: lawsuits, command-and-contr...

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: The table below represents Sue’s preferences for bottled water and soft drinks, the combination of w...

A: The marginal rate of substitution or MRS. implies to the rate at which one good can be substituted f...

Q: Illustrate on a supply and demand diagram how price ceilings may distort the market outcome, and spe...

A: Price control is defined as the measures adopted by the government to maintain the welfare of both c...

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

A: The average revenue (AR) curve depicts the price level at each level of output.  i.e., AR = Price A ...

Q: 7. Establish that the greater the magnitude of loss the greater will be the amount above pure premi...

A: An insurance premium is the amount of money paid for a policy by a person or a business. Premiums ar...

Q: The demand curve for a monopolist is given by x 100 4p ) Find TR, AR and MR (i) At what value of x, ...

A: To find the relevant answers, we will first convert the demand function into inverse demand function...

Q: Inflation-Work It Out: Question 2 Consider an economy with the money demand function is m Round answ...

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...

Q: 3.Is free trade system beneficial or not? 4. Why loss of culture is one of the negative effects of g...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Indicate what the two (2) main determinants are that price elasticity of demand depends on.

A: The relative change in the quantity demanded of a commodity due to changes in demand factors such as...

Q: s this tax progressive regressive or pronortional?

A: As per the question 5% sales tax is levied on the consumption level of the consumer which implies th...

Q: • S = -1250 + 0.4 Y, I= 750 – 1600i • Ms= 1100, Mt = 0.15Y and Mp = 0.10 Y • A. Calculate Y eq, S, I...

A: Consumption expenditure refers to the amount of money consumers spend on goods and services, and spe...

Q: Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition...

A: Pure competition, pure monopoly, monopolistic competition, and oligopoly are some of the examples of...

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: The ore of a gold mine in the Mountain Province contains, on the average, 2 gram of gold per ton. On...

A: Given the extraction of gold per tone = 2 gram The processing cost of first method = 1800 per ton Th...

Q: Suggest plausible factors which could have an impact on the demand and supply of oil in the near ter...

A: For an economy to operate in a stabilized manner, it is fore mostly required that its market should ...

Q: TC, = 20 + 50 TC, = 25 + 3Q; %3D %3D TC, = 15+ 40 %3! TC, = 20 +60 TC is in hundreds of dollars, and...

A: 1. Total cost is the sum of all costs incurred by a firm for producing some output. 2. where the ave...

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: If there is more amount of savings is taking place then there will be more opportunities will be ava...

Q: II. Helping Conchita-Crem to minimize costs Suppose that the labor cost of Conchita-crem is $20 USD ...

A: Given production function q=10L^0.5 K^0.5 Price of labor=$20 Price of capital=$5

Q: Both coal and wind energy are used in Minnesota to generate electricity for household use. The two p...

A: Given information Supply function of coal Qc=-10+P Qw=-200+2p Total demand for energy Qd=410-P

Q: The economy does not grow once it reaches a steady state. This result is based on the assumption tha...

A: When talking about the steady state of an economy, it is considered as the point with highest output...

Q: Which of the following best describes an expansionary monetary policy? * a. less spending b. decrea...

A: The best way to describe an expansionary monetary policy is the lower interest rate.  Lower interest...

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: According to research published by the US Census Bureau, Select the correct answer below: there is a...

A: US bureau is a federal organisation which produces data about the US people and economy

Q: Suppose that Hyundai increases the amount of capital, labor, and other inputs it uses by 10% and as ...

A: When product is manufactured and put into production process, cost  takes place and process of busin...

Q: 3) If you are the attacker, and you know that the defender is going to choose the best strategy they...

A: Sorry, as per the rules we do not provide handwritten solutions. 3. From part 1 and 2 we know that i...

Q: If the minimum wage is set below the equilibrium wage rate, then the following will hold true: A) W...

A: Minimum wage is definer as the least amount of wages that the producers have to pay to the workers f...

Q: Exercise 5.3 Wage bill Let a = 0.5. (This number may or may not reflect reality.) Let K = 6 and L = ...

A: Labor market equilibrium refers to the equilibrium where the labor demand and labor supply are equal...

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: 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...