b) You are given the following demand and supply functions Qd = 10 -0.3 P Qs = -2 + 0.9 P demand function Supply function

Q: ($) ($) ($) ($) ($) $60 $6.50 $108 $6.50 $6.50 $144 $6.50 $168 $6.50 $180 $6.50 $180 $6.50 $168…

A: Here, P = price R = revenue  TR = Total revenue  MR = marginal revenue  MC = marginal cost TC =…

Q: The empirical evidence covered in the lecture supports the view that the US China import tariff…

A: Import tariff In this graph the equilibrium of demand and supply is achieved when the local firms…

Q: Which of the following is true?     When the marginal cost is greater than the average cost, there…

A: When any of the firms has the market power, that market is considered as imperfect market as there…

Q: d. What is the amount of total tax revenues?

A: Demand (D): P = 100 – 1.5 Q Q* = 40 P*=40Supply (S): P = 20 + 0.5 Q

Q: Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells…

A: Monopolistic competition refers to the market organization in which there are many sellers of a…

Q: Problem 28-07 Suppose a French bottle of champagne costs 20.5 euros. Instructions: Enter your…

A: The price of the domestic currency in relation to another currency is known as the foreign exchange…

Q: Which of the following would cause the money supply curve to shift to the left? Select one: a. A…

A: Federal Reserve is the organization that is responsible for managing money supply in the economy

Q: Free exchange occurs under perfect competition and mutually benefits both consumers and producers.…

A: Free trade basically refers to  that countries can import and export goods without having to deal…

Q: Given Wk = 50; Pk = 100; Yc = 300: Profits in the Consumer Goods sector equals:

A: Given Wk = 50; Pk = 100; Yc = 300

Q: When the price changes, the change in producers’ total revenue depends on the elasticity of demand.…

A: Total revenue refers were total amount of money earned by the firm by selling of specific unit of…

Q: A consumer has utility u(I) = VI and income $1,000. When sick, the consumer must go to the doctor,…

A: U = I0.5  Income = $1,000 Visiting the doctor without insurance = $400 Probability of getting sick…

Q: A wastewater treatment facility is planning to purchase a new sludge dryer equipment to replace its…

A: Rate of return for a project or the internal rate of return for a project, denoted as IRR, is…

Q: ii. Solve for the new equilibrium quantity and price after the tax is imposed. b. How much will the…

A:

Q: 2. Suppose that the government raises the salary of public teachers by 20%. Further assume that…

A: Ricardian equivalence is an economic theory that states that funding government spending with…

Q: Consider a consumer whose preferences are represented by a utility function u(x, y) = a0.5y5 Are…

A: The utility function can be defined as the measure of a group of goods and services preferred by…

Q: List and explain three reasons for strong barriers to entry that make it difficult for new firms to…

A: In competitive firms, there are either no barriers to entry or very less barriers to entry that…

Q: On which of the following issues did Trump focus during the midterm 2018 campaign? successful…

A: During the midterm 2018 campaign, Trump focussed on many issues including health care, immigration…

Q: The graph shows cost and revenue curves for producing different amounts of chairs. Suppose the…

A: Monopolist refers to a market in which there is only one single seller who has all control over the…

Q: As a product manager you are responsible for a new hand sanitizer launched recently by your company,…

A: Risk management is necessary for every organization since there are always certain risks in every…

Q: Using the real intertemporal model with investment, predict the effects on employment and the real…

A: Investment curve shows the inverse relationship between interest rate and investment. The rise in…

Q: 7. Simple economies can be described in terms of three major economic flows. These are: a. income,…

A: The economics as a study is based upon the basic idea that the resources which are present with the…

Q: Assume an hypothetical consumer faced by the following utility function; U=X^2Y ( squared times y).…

A:

Q: The demand and supply of some good are as follows: Qd = 2,000 - 10P %3D Qs = 500 + 40P %D Suppose…

A: Answer: Given, Demand curve: Qd=2,000-10P Supply curve: Qs=500+40P After subsidy the supply function…

Q: a monopolistic competitor selling a given product and engaged in a given amount of product…

A: The structure of the market wherein an industry has many firms that offer products that are similar…

Q: There is equilibrium in the purely competitive market for oranges, and the optimal amount of oranges…

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

Q: Question Given a demand curve of P = 31 - 1.25Q and a supply curve of P= 4 +Q, with a tax of 18,…

A: Deadweight loss is the decrease in total surplus resulting when socially efficient quantity is not…

Q: 04. A "sovereign debt crisis (a) Merely reduces the effectiveness of Keynesian policy (b)…

A: A Sovereign Debt Crisis is defined as a crisis when a country is not in a state to play its bills.…

Q: The demand and total cost functions for a monopolistically competitive market are:  Q(P) = 300/N –…

A: Q(P) = 300/N – P TC(Q) = 50 + Q²

Q: 5. Please explain the pros and cons of using cryptocurrency in a country.

A:

Q: What determines growth in post-Kaleckian (post-Kaleckian) models? What are the effects of…

A: On the other hand, post-Keynesian financial affairs are a collection of financial expectations…

Q: If l increase by 200, equilibrium output would increase by If G increase by 200, equilibrium output…

A: The formula for equilibrium level of output: Y = C + I + G + NX Given, C = 250 + 0.4(Y - T) I = 200…

Q: demand curve f monopolist lies above the marginal revenue curve a) Its demand curve is perfectly…

A: There is a single firm in the monopoly market. The demand curve slopes downward.

Q: Suppose that B owns an automoble colision repair shep and the tabie beiow shows the puaruty of cars…

A: Total cost is a sum of variable cost and fixed cost. Fixed cost remains constant and variable cost…

Q: Suppose that you are interested in determining the average height of a person in a large city. You…

A: Standard deviation is a proportion of how much variety or scattering of a bunch of values. A low…

Q: What is micro economics?

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Consider the following oligopolistic market. In the first stage, Firm 1 chooses quantity g. Firms 2…

A:

Q: Table 1. Unit Labor Requirements                             Vietnam Indonesia Coffee 70 40…

A: A country or an individual is set to have an absolute advantage if it can produce more of a good…

Q: he demand and total cost functions for a monopoly firm are:   Q(P) = 39.5 – 0.5P   TC(Q) = 60 – Q +…

A: Socially Optimal Output for the monopoly is achieved where P = MC

Q: The domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 5,000 +…

A: Demand: Demand for a commodity can be defined as the desire and willingness of a consumer to acquire…

Q: If the price of petrol increases by 4% and the demand for petrol falls by 1%, what is the price…

A: Price elasticity of demand measures the responsiveness of quantity demanded with respect to change…

Q: You received a memo that you are appointed as the team leader for a new commercial building project.…

A:

Q: 5) ) Use a MARR of 10%, useful life of 5 years and the Present Worth method to select between the…

A: Answer; 5)     Present Worth of Alternative A:…

Q: As per the World Bank, Philippine Real GDP (constant 2015 prices) was at around 396,220,000,000 USD…

A: "GDP deflator for any year is obtained by multiplying 100 by the ratio of nominal GDP of that year…

Q: Assign the different theories to the source of gains from trade in the theory (e.g. specific factors…

A: Melitz (2003) model talks about trade liberalization whereby the there is reallocation of resources…

Q: In an oligopoly market, it's always better off for companies if they would act Competitively and…

A: An oligopoly is a market structure in which few firms exert significant control over the market.…

Q: 100 80 60 40 2020 2015 20 2010 20 40 60 80 Percentage of Households 100 In 2010, of the households…

A: Answer to the question is as follows:

Q: Discuss the basic economic problem of scarcity. Be sure to include a definition of the term, how it…

A: Basic Economic problem of Scarcity: One of the most fundamental economic issues we experience is…

Q: Identify a monopoly that you have recently consumed. Explain why you selected it as a monopoly and…

A: Monopoly is studied as a single-firm industry.

Q: A wastewater treatment facility is planning to purchase a new sludge dryer equipment to replace its…

A: Rate of return for a project or the internal rate of return for a project, denoted as IRR, is…

Q: Consider a perfectly competitive firm with the following production |0.25,0.25 function: q=L' a.…

A: To find the long run supply function. We first find the cost function and then get the Marginal Cost…

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.