A monopolist faces a demand equation given by P=20-Q, and a marginal revenue equation given by MR = 20-2Q, and MC=AVC=ATC=$6. Suppose now that instead of a monopoly we have a perfectly competitive industry and the long-run supply of this industry is given by the condition that the supply curve is horizontal at the value $6. What is the profit-maximizing price for the perfectly competitive firms?   a.$2 b. $1 c. $13 d. $6

Q: explain the terms ‘trade creation’ and `trade diversion’ in the context of customs unions]

A: A customs union is a contract between two or more adjoining countries to clear trade barriers,…

Q: Q2. Law of diminishing marginal returns is applicable in both short run as well as long run.  is it…

A: The law of diminishing marginal returns expresses that as an ever increasing number of units of data…

Q: the wage rate of labour is GH¢2 per hour and capital is rented at GH¢5 per hour. Also, the unit…

A: Production function : Q = 14K0.5 L0.5 + 10  Profit maximizing utilization of any input is the till…

Q: One argument for some inflation is you are more likely to get a pay raise it makes prices in real…

A: When talking about inflation, it represents a rise in the general price of the basket of cost and…

Q: A primary beneficiary would be named for which of the following types of Accident and Heallh…

A: Primary beneficiaries:- A primary beneficiaries are someone or anything that is first among all who…

Q: Which of he following characleristics is typical of group insurance?   A.Medical examinations are…

A:

Q: 2. Fill in the blank your numeric answer for each of the following question. 1. A machine with a…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Write Company has a maximum capacity of 200,000 units per year. Variable manufacturing costs are $12…

A: The break-even point is the point at which total cost and total revenue are equal, meaning there is…

Q: Imagine that you work for the World Bank and you have been called to Ghana to aid the new president…

A: Given information Ghana is agricultural dominated country. It's 50% population is working in…

Q: a. What effect on Monetary Base when Foreign Central Banks increase account at the Fed?

A: The amount of currency in circulation in the economy is referred to as the monetary basis. It is…

Q: Why is this answer different to the other answers for the same question?

A: Cournot model is an economic model wherein contending firms pick an amount to create freely and all…

Q: Imagine that you work for the World Bank and you have been called to Ghana to aid the new president…

A: Given information Ghana is agricultural dominated country. It's 50% population is working in…

Q: Which of the following production function exhibits Diseconomies of Scale? Production function where…

A: If an increase in inputs by λ led to an increase in output by more than λ, the production function…

Q: distinguish the roles of the parties associated with the bank bill issue

A: The parties that can be involved in bank bills issued are as follows: 1- Creditor  2- Debtor 3-…

Q: Gross domestic product (GDP) data are used as a means to measure welfare. to observe long-run growth…

A: GDP is significant since it gives information about an economy's size and health. The rate of…

Q: Suppose that 1 Swedish krona could be purchased in the foreign exchange market today for $0.36. If…

A: In global economics, a foreign money is stated to have appreciated if its value towards any other…

Q: Although fiction isn't claiming to be True,it reveals truths about our world or the way (some)…

A: Fiction means that is related to somehow thought that may or may not be related to reality.

Q: Theoretically, price is determined by the forces of market demand and supply. However, is it really…

A: Imperfect data alludes to the circumstance where purchasers as well as merchants don't have all of…

Q: Why is per-capita income NOT always the best indicator of an emerging market's potential? What does…

A: Managers frequently examine aggregate country data, like GNI or per-capita GDP, represented in terms…

Q: The model (graph) below represents a small country trade of good X after the government decided to…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 1. From 2009 to 2010, per capita real gross domestic product (GDP) in country C grew by 2.8 percent.…

A: Yearly development pace of genuine GDP per capita. Yearly development pace of genuine Gross Domestic…

Q: The main participants in the financial markets are ___.     dealers, brokers, regulators.…

A: A financial market is a market where financial instruments are bought and sold, which means bonds,…

Q: The primary purpose of he Coordinalion of Benefits provision found in most group Major Medical…

A: This is an arrangement in the agreement that applies when an individual is covered under more than…

Q: Collusion between firms is: A merger of two sellers Regulatory restrictions on the entry of new…

A: Collusion is part of a collusive oligopoly in which the firms join hands and restrict their output…

Q: 3. Choose the correct answer. Only one answer may be marked/circled. 1. The equal service…

A: 1. Option A is correct because  Specified study period  Explanation  In order to satisfy the equal…

Q: q TFC TVC TC AVC ATC/AC MC 0 0 b. 1 65 2 105 C. 3 135 4 167 IES 5 a. 203 6 244 7 293 d. 8 55 355 9…

A: 5. Due to the sheer law of variable proportions, the short run costs AVC, AC, and MC have a U shape.…

Q: Assume you are the Director of Marketing for ABC LTD, a firm that produces a new product called…

A: Given information Madina demand function Q1 = 24 – 0.2P1  Haatso demand function Q2 = 10 – 0.05P2…

Q: Repackaging the merchandise Man Measure ← Lack of attention to weight - box Reception in bad…

A: As Newton has stated that 'for every action there is an equal (magnitude) and opposite (direction)…

Q: You've decided to sell sweatshirts for the upcoming game. You project that at a price of $36.48 per…

A: Profit is maximized at a point where marginal revenue is equal to marginal cost.

Q: A country produces two goods: coconuts and umbrellas. Their production possibilities frontier (PPF)…

A: "Production possibility frontier or PPF represents the different combinations of the two goods that…

Q: Assume that pickled eggs are an inferior good and its market is currently in equilibrium. What will…

A: Given: Pickled Goods are inferior good and its market is currently in equilibrium.

Q: National Service Reserve Corporation

A: Welfare services Welfare refers to government-sponsored assistance programs for low-income…

Q: se you make an annual bution of P11,036 each year t e fund for a niece. He is 5 yea nd you will…

A: Introduction,

Q: normative analysis on the desirability of increasing legal immigration to the United States. How…

A: 1. The talents of migrants, the qualities of current workers, and the features of the host economy…

Q: Use the following table to answer the question about taxes, where P = Price buyers pay, P, Price…

A: The income that governments collect via taxing is known as tax revenue. The principal source of…

Q: If workers are getting paid $8/hour, will the company have enough workers? How do you know?

A: Surplus: The situation of surplus in an economy exists at a price that is greater than the…

Q: When production in an economy grows more quickly than the population in that economy, which of the…

A: Productivity refers to the ability to produce goods and services with the given resources and…

Q: In April 2021, there was shortage of ABC cement in the country which led to a rise in the price of…

A: A price ceiling is the commanded most extreme sum a merchant is permitted to charge for an item or…

Q: OR that has the lowest initial investment cost I ratio: costs are subtracted from benefits. cted…

A: Public sector projects and private sector projects are different by certain feature associated with…

Q: Defend or Refute. “John Maynard Keynes rejected the theory of classical economics that there will be…

A: In the classical economics, Adam Smith proposed the idea of invisible hand meaning that any…

Q: producer collects he initial premium for a healih policy and gives he applicant a conditional…

A: As indicated by the Health Insurance Association of America, health care coverage is characterized…

Q: A machine having a certain first cost has a life of 10 years and a salvage value of 6.6% of the…

A:

Q: Desscribe the intermediate target for monetary policy, and explain the implementation process of the…

A: Intermediate objectives vary swiftly to reflect new policy choices. It act predictably in relation…

Q: A retail flower shop in Metro Manila, called Floreau, sells arranged flowers. The shop can make…

A: The breakeven point for a still up in the air by looking at the market cost of an asset to the first…

Q: A horizontal demand curve represents: a. Perfectly inelastic demand . b. Perfectly elastic demand.…

A: The elasticity of demand measures the responsiveness of change in quantity demanded to change in…

Q: Suppose there are two firms in the market, Firm A and Firm B. The total market demand is given by…

A: Cartel is an agreement between firms to maximise joint profit.

Q: An electronic-parts manufacturer with U-shaped short-run cost curves is producing 15,000 units per…

A: Cost function shows how the cost of the production of a good changes with the change in the quantity…

Q: Q = AKBLa is a cobb doulas production function which is homogenous function of degree 4. Of what…

A: Production function refers to the functional relationship between the given input and the achieved…

Q: Fay runs a hot dog cart at the sports stadium. Fay has no skills, no job experience, and no…

A: An economic profit is the distinction among the sales a industrial entity has acquired from its…

Q: The concept of conditionality has long been at the centre of criticisms about the International…

A: The international monetary fund(IMF) helps the economy in order to provide support on the financial…