Describe a monopolistically competitive market in the long run.

Q: Explain: “The United States can make certain toys with greater productive efficiency than can China....

A: The idea of Adam Smith and David Ricardo: Adam Smith: The international trade can be beneficial only...

Q: How would the following changes in price affect total revenue? That is, would total revenue increase...

A: The answer to the question is as follows :

Q: EXCLUDING PERFECT COMPETITION.Choose a particular market (for example the beverage industry, Fast fo...

A: Choosing a beverage industry Starbucks as an example. Starbucks is working in a monopolistic market ...

Q: Using the figure above, what is the total revenue for the firm?

A: Total revenue refers to the receipts received after the sales of the given quantity of a commodity i...

Q: Why does gold, which is a relatively nonessential item, have a higher price than water, which is ess...

A: There are many goods which are based on income of a consumer: Luxury goods and necessary goods. As i...

Q: An economy is currently experiencing inflation that exceeds the target rate set by the central bank....

A: Central bank has a dual mandate of managing employment and price stability in the economy.  Central ...

Q: Intermediate Microeconomics

A: Every Individual tries to fulfill their individual needs and want inorder to satisfy themselves with...

Q: Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging. (A...

A: A new drug was discovered that slowed the deterioration of health that accompanies aging.  The MEC i...

Q: Changes in macroeconomic indicators can often be of relevance to business and influence decision-mak...

A: Answer: Introduction: Changes in macroeconomic indicators can often be of relevance to business and ...

Q: Question: Suppose that a central bank pursues expansionary monetary policy by purchasing bonds. Clas...

A: Expansionary monetary policy is used to increase the supply of money. Under the expansionary monetar...

Q: Suppose an economist estimates, in Country X, the job separation rate be 4 percentwhile the job find...

A: The natural rate of unemployment is that type of unemployment which exists when there is full employ...

Q: Assume that an economy is experiencing simultaneous equilibrium in both the product market and money...

A: Expansionary fiscal policy includes lowering of taxation and higher government spending. Lowering of...

Q: Using the figure above, what is the total cost for the firm?

A: Given:ATC=$20Quantity=117

Q: Q) consider the harrod-domar model in which depreciation and the population growth rate are 2% and 3...

A: A Harrod-Domar model helps in explaining how growth has occurred and how will it occur again in the ...

Q: A college student determines he will have only half of the cost for university housing available for...

A: Different alternatives are available to reduce the cost of university housing.

Q: Does a price ceiling attempt to make a price higher or lower?

A: Price ceiling is a situation where the price charged is more than or less than the equilibrium price...

Q: Lewis’s management has been considering movingto a new downtown location, and they are concerned tha...

A: Lease is a one type of a  contract which is followed by two parties .It has a limited time .It is ty...

Q: Suppose that the government is concerned with the unemployment rate and, as a response, offers a tax...

A: Tax refers to the compulsory payment that imposed by the government on consumer, individual people w...

Q: Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) ...

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

Q: The equation for a demand curve is P = 48 – 3Q. What is the elasticity in moving from a quantity of ...

A: Elasticity refers to the responsiveness of one variable to changes in another variable, given that t...

Q: A U.S. export-import shipping company operates a general cargo carrier service between New York and ...

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three su...

Q: Ten years ago, Ginny inherited $50,000 from her grandmother. She decided to invest all of this money...

A: converting yesterday's dollar into today's dollar: adjusting for today's inflation YX->today = YX...

Q: How to define economic welfare?

A: The answer to the question is as below : 

Q:

A: Production function is given as: z = 15 -2x2+ 12x-3y2+6yPrice of input x = 6Price of input y = 3Pric...

Q: Market research has revealed the following information about the market for washing machines: The de...

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

Q: Contrast the benefits-received and ability-to-pay principles of taxation. Which of the following tax...

A: Taxes are the major source of revenue of government. Government levies different varieties of tax on...

Q: 1 1A) Using the static AD/AS model to explain how the job keeper (wage subsidy) policy worked to sus...

A: The wage subsidy is simply beneficial to the worker. It is a direct payment to the worker from the g...

Q: Suppose the government of Australia incurs a budget deficit of $50 billion due to increased governme...

A: Since there is a budget deficit, government spending on the debt will increase and the loanable fund...

Q: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in Table 7.16 for...

A: Cost is the expenditure incurred by firms on the production of goods and services.

Q: 1. Consider an insurance contract with the premium r=$200 and payout q=$800 a.) John has healthy-sta...

A: a. Fair contract premium can be calculated as follows. The premium is greater than the expected cos...

Q: I wanted to know if these were correct

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

Q: Ned's preferences for apples (qa) and bananas (qb) are captured by the utility function U(qa,qb)= k(...

A: "Since you have asked multiple parts, we will answer only first three parts for you. If you have any...

Q: 4. Boeing and Airbus, change in profits ($m) from the development of a super jumbo jet.AirbusDevelop...

A: There are two players(p)-B and A. The payoffs are in the form of a change in profits(P) of each due ...

Q: The following table shows macroeconomic data for a hypothetical country. All figures are in billions...

A: Gross Domestic Product is the total amount of goods and services produced within the economy during ...

Q: An economy produces capital and consumer goods. Discuss the impact on the PPF due to the following: ...

A: Production possibility frontier (PPF) refers to the combination of two goods that a country can prod...

Q: Assume that the economy is in a severe recession with a high level of under-utilized capacity. The e...

A: A balanced budget means increase in government expenditure is matched by increase in taxes. Thus for...

Q: What are the effects of an increase in labor productivity on potential GDP, the quantity of labor, t...

A: Gross Domestic Product is the total amount of goods and services that an economy can produce within ...

Q: Debra can make either 12 cakes or 16 cookies in 4 hours. Sam can make either 6 cakes or 12 cookies i...

A: Given,   Cake Cookies Debra 12 16 Sam 6 12  

Q: What is the role of guaranteed income as an instrument for activating domestic economic growth?

A:   Meaning of Economic Growth: Economic growth refers to an increase in economic variables over a per...

Q: 1. Caribbean economies tend to rely heavily on the Tourism sector, offering Sun, Sea andSand as the ...

A: As we answer only 3 sub parts and the question contains more than 3 sub parts, we would be answering...

Q: Dollars 10000 is invested for 4 years in a bank earning a simple interest rate of 10% per annum. Fin...

A: Invested amount = $10000 Time period for which the amount is invested = 4 years Interest rate = 10%

Q: Question 1 Maria spends all of her income of $2,000 on food (F) and clothing (C). The prices per uni...

A: M  spends all her income on  food and clothing. M=$2,000PF=$5PC=$20

Q: Let’s think about the market for air travel. From August 2014 to January 2015, the price of jet fuel...

A: The demand and supply forces help the firms and other businesses to be in equilibrium and change as ...

Q: what are two reasons Why is the statstic for fiscal deficits are so closely monitired in small fixed...

A: In fixed(FEX) exchange-rate system, the exchange-rate(EXR) is kept constant that is the point where ...