Compare and contrast monopolistic competition and perfect competition market structures in the Long-run. with diagram.

Q: Maximize utility u = Q1 Q2 + Q1 +2Q2, subject to P₁ = 2, P₂ = 5 and B = 51 where; u = utility; Q₁ =…

A: Consumer gets maximum utility at equilibrium point where MRS = P1/P2 . With given level of budget…

Q: a. Table 1 represents the demand and supply schedules of medicinal products for Belgium, a small…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: An economy has a MPC of 0.80. Suppose only that taxes are increased by $300 billion. Calculate the…

A: MPC is the marginal propensity to consume which is the proportion of income spent on consumption.

Q: Short Answer) A new office building is expected to produce the initial net operating income (NOI) of…

A: The ability for investors to compare values over time makes present value crucial.iGiven a certain…

Q: Question 13 Which of the following is true for a perfectly competitive firm that maximizes profit?…

A: A perfectly competitive firm is the one that competes with many sellers of the homogenous good due…

Q: The following table shows nominal GDP and an appropriate price index for a group of selected years.…

A: Nominal GDP, unlike real GDP, does not correctly reflect an economy's output. The total national…

Q: You are an economic analyst examining the factors that impact South Africa’s Gross Domestic…

A: 1. For testing the individual significance, we will use the t-Test.   Variable: LUN Significance…

Q: Which of the following is assocaited wtih FPI?     A.) equity shares and loans     B.) building…

A: Foreign portfolio investment (FPI) comprises of protections and other monetary resources held by…

Q: Find the cost function for the marginal cost and fixed cost. Marginal Cost Fixed Cost (x = 0) dC…

A: Cost function is the function which measure the cost of the producing the goods and services by…

Q: Graph below depicts the market for industrial milk. Price per hectolitre ($) 42 36 30 24 18 12 6 65…

A: Here, the given graph b shows the market for milk with price in Y-axis and quantity on X-axis.

Q: How is the opportunity cost of holding money determined? Question 18 options: by consumer income…

A: Opportunity cost is the cost of next alternate which is foregone.

Q: 2- Who is risk aversion?

A: In economics, people make their decision based on their behaviour of understanding market…

Q: When testing the appeal of a new product it is best to use: a focus group your own e-commerce site

A: Product Testing, likewise called shopper testing or relative testing, is a course of estimating the…

Q: 3. If the (own) price elasticity for Apple's iPhone is 1.5 (E = 1.5), then a 5% decrease in the…

A: 1. In this first Blank price and quantity are inversely related so the iPhone will decrease

Q: How cam future business professionals can contribute to the real economic development of a country?

A: Future business professionals are those individuals that are considered highly skilled labor and…

Q: Use the linear demand and supply curves shown below to answer the following questions.You must show…

A: A consumer surplus happens when the cost consumers pay for a product or service is not exactly the…

Q: From an international perspective, examine the taxation principles of an individual’s personal tax.

A: Capacity to pay:- The capacity-to-pay concept holds that taxes should be based on a person's ability…

Q: 3. Average Fixed Cost is the a. horizontal distance (at any particular cost level) between ATC and…

A: A company's total cost is divided into fixed and variable costs. A "fixed cost" remains constant…

Q: Part 8 a) What is average labour productivity? Explain how average labour productivity can impact…

A: Average Labor Productivity = Total Output/Total Productive Hours. The worth each utilized individual…

Q: A Question G coporate agriculture separate farms which are organization has! during the coming year.…

A: Profit is that the distinction between the revenue and therefore the prices. A profit function is a…

Q: THE NEXT TWO THE FOLLOWING FIGURE: P $2.00 $1.50 W U Q od

A: Here, the given graph shows the demand curve, which explains differ quantity demanded as different…

Q: What types of empirical studies (across-state studies or national studies) does the author prefer,…

A: Introduction Empirical studies gives direct outcome about the field. It uses verifiable evidence to…

Q: 11. Suppose you choose to pledge for your top choice of sorority or fraternity at your university.…

A: Nash equilibrium expresses that nothing is acquired assuming any of the players change their system…

Q: Question 2 Given the following information: 1= 150, G = 150, T-150 and C= 150 +0.75(Yd) At least 2…

A: Consumption function as a tournament consumption and induced consumption. Autonomous consumption…

Q: Use the figure below to answer the questions that Tractors PPF, 14 PPF₁ 100 Rice (tons) İ. Suppose,…

A: The Production Possibility Frontier is a curve that denotes the mix of products that will use…

Q: During periods of hyperinflation, prices increase rapidly over short periods of time. One of the…

A: Answer: It is given that the price is being doubled every day. It means the prices are increasing…

Q: only when short on funds. to suggest product size. to suggest product quality. to determine income…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…

Q: What is the behaviour of average fixed cost as output increases?

A: Total cost is the expenditure incurred in the production of goods and services. It is the cost that…

Q: In the country of Solow, people buy only three things: food, rent, and luxury goods. Last year, the…

A: Answer: It is given that the price of luxury goods went down and the price of rent increased 5%. The…

Q: What effects would joining a MCO have on your clinic regarding staffing, patient volume, and…

A: When the economy is stable, individuals have access to the resources needed for a healthy lifestyle.…

Q: A city is spending $20 million on a new sewage system. The expected life of the system is 200 years,…

A: To calculate capitalized cost we first have to calculate the annual worth. Given,   useful life=200…

Q: How do prices attain a state of equilibrium? Give a specific example

A: Demand and supply forces have a role in determining market pricing and volumes. According to the law…

Q: If 2019 is the base year, what is the growth in real GDP from 2020 to 2021?

A: Real GDP is the GDP value which is adjusted to inflation. It is calculated on the basis of a…

Q: Provide specific real life example (Quanti and quali data) for equilibrium prices and quantity

A: Demand and supply are two variables in the market that work together to determine both the price and…

Q: A contractor is considering the purchase of a set of machine tools at a cost of $50,000. The…

A: Present worth represent the value of asset or any goods and services after the depreciation and the…

Q: 2. Deviating from the collusive outcome Mays and McCovey are bear-brewing companies that operate in…

A: Collusion is a non-serious, secret, and once in a while unlawful understanding between rivals that…

Q: Using any of the five foundations of economic thought, explain the following: a. Why are farms not…

A: The foundation thoughts that is referred to in the question are  1. Marginal thinking 2. Trade-offs…

Q: Abolition of intermediaries, ceiling of land holding, consolidation of holding, regulation of rent,…

A: Indian development economics: Financial development with expansion in genuine per capita pay,…

Q: In the Solow Model, what is depreciation? O The erosion of capital over time. O Discounting of…

A: Depreciation and investment are the important elements of the Solow model. The Solow Growth Model is…

Q: For a Binomial Distribution with n=3, p=0.6 where p is the probability assigned to the success event…

A: As given Random variable follow the Binomial Distribution with n = 3 and p = 0.6 X ~ Bin(n,p) Where…

Q: Odysseus is fascinated by Microsoft's new Surface Laptop Studio. He is happy to purchase this…

A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…

Q: $500 Houses Conuer spending $4006 hand written plz T Imports -$100 Goverment Government Purchases…

A: The circular flow of income, sometimes known simply as the circular flow, is a model of the economy…

Q: Economics Complete the table below. (Round your answers to two decimal places.) Capital, Labor, K L…

A: Fixed cost remains same at all levels of output. Variable cost is the cost that changes as output…

Q: This is the third time. please answer correctly. A characteristic NOT found in a group disability…

A: Group Disability Income Policy  If an employee is unable to work for a certain amount of time due to…

Q: "There are some technologies for which it is impossible to maximize profit in the long run. "…

A: Maximization of profits occur at the point where the marginal revenue and marginal cost are equal.

Q: If hot dogs are an inferior good, we can conclude that OA. the income elasticity of demand is…

A: Inferior good refers to the good whose demand is negatively associated with income. Or rise in…

Q: Explain how a nominal interest rate of 100% can actually be a low rate.

A: Interest rates are the cost of borrowing and saving money and are stated as a percentage of the…

Q: 1. . If you are saving money in a bank, which of the following is better for you? Bank A, which…

A: Thank you for the question. As per BNED we can answer 1 question per session. To get answer for the…

Q: Oranges are traded globally at 2 US dollar per kilogram. The equilibrium price in the perfect market…

A: Trade induces countries to gain from opening up to trade. Two countries can engage in trade by…

Q: Md=RY(0.5-i) Where RY is nominal income and (0.5-i) is a function of the i, Ratio of currency to…

A: A person's income is said to be nominal if it is not adjusted for changes in buying power, which…