discuss the main features of a perfect competitive markett in an economy

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A: The demand for and supply of loanable funds helps to determine the rate of interest. Also the…

Q: True or false. There is no surplus or shortage when there is an equilibrium in the market.

A: In a market equilibrium, there is no tendency for prices to vary since the amount of an item or…

Q: Suppose that Ciana is deciding whether or not to buy a pair of sneakers that she has been…

A: Total cost is the sum of explicit cost and implicit cost. Explicit cost is out of pocket expenditure…

Q: What are several examples of country economic development differences? Briefly discuss.

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

Q: Two numerically controlled drill presses are being considered by the production department of…

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Q: Suppose that there are only two goods produced in an economy: haircuts and banking services. Now…

A: Gdp refers to the gross domestic product. Gross domestic product is the monetary terms of all…

Q: Q3 Q4 Foreign Indirect Investment will be carried out through investment in equities. Answer…

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Q: You want to borrow $1500 at 8% and you are willing to pay $210 in simple interest.How long can you…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Factor payments in the Solow model. Assume that both labor and capital are paid their marginal…

A: Marginal product refers to the extra output that results from a small increase in a factor input.…

Q: it must be that demand equals supply in the herring market. This implies that

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Q: Using the information in Question 4 and Figure 4 above, complete the following table to depict the…

A: Oligopoly is a kind of market structure in which the market does not have a large number of small…

Q: XYZ Inc is looking at a project to manufacture widgets. Assume we have the following data: • The…

A: The Net Present Value refers to the popular capital budgeting technique that attempts to evaluate an…

Q: The slope of the graph y=x^2-3x+7 at the point (1,5) is . . .   a. -1 b. -2 c. 5 d. 11

A: Following is the given information: Equation, Y =x2-3x+7 Point = (1, 5)

Q: Nadine Chelesvig has patented her invention. She is offering a potential manufacturer two contracts…

A: The annual worth is the net of the multitude of benefits and costs incurred north of a one-year…

Q: 3. Suppose that investment as a fraction of output in the United States rises permanently from 0.15…

A: Consumption is a task in which institutional units use up products or services; consumption can be…

Q: From California to New York, legislative bodies across the United States are considering eliminating…

A: Introduction The banking sector is a major area of finance and commerce that has been around in some…

Q: couple of entrepreneurial business students at State University decided to put their education into…

A: Break Even Point (BEP): The BEP is the value where the cost of expenses is equivalent to the…

Q: 6. If it is announced today that the interest rate in Australia is being reduced from 4% to 3% for…

A: The exchange rate is defined as the representation of the domestic currency in terms of the currency…

Q: Convert the cash flows shown below (black arrows) into an equivalent annual worth A in years 1…

A: For computation of  A for the cash flows, first convert all the cash flows to a P value in year 0,…

Q: The controller of Carla Vista Industries has collected the following monthly cost data for analyzing…

A: The regression equation is given as:  Y = α + βX + εWhere α : intercept coefficient β : Slope…

Q: Taxation is viewed as (i) governments cannot function well without them; (ii) having a long history…

A: A tax is a necessary fee or financial charge imposed by a government on an individual or an…

Q: Refer to the information provided in Figure 6.14 below to answer the questions that follow. Panel A…

A: An indifference curve provides the combination of the products i.e. pizza and hamburger in various…

Q: Suppose Musashi buys a new tool that enables him to produce twice as many tea towels per hour as…

A: Opportunity cost is the cost of producing one good in terms of other.  Comparative advantage is when…

Q: Show what the effect of the following factors is on the aggregate demand (AD) curve. a. Expansionary…

A: Aggregate demand is the sum of consumption, investment, government spending and net export  AD = C +…

Q: 1. Your econ professor would like to buy a Tesla X, but he cannot afford one. He __________ have a…

A: Introduction The amount of a product that is on the market and available for purchase at a given…

Q: Joon has preferences over two goods only-beer and pizza, both of which he loves. His initial budget…

A: As per the revealed preference theory If 2 bundles A & B are affordable for the consumer but he…

Q: Doubt: Calculations obtained from TC come from function TC = 80 + 3q + 2q2? For example, for q = 1,…

A: In this case, we have to calculate the total cost, average total cost and marginal cost where total…

Q: Question: Which strategies are the dominant ones for Spotify and Joox?

A: Dominant strategy is the strategy that yields higher payoff as compared to the other and this…

Q: Which of the following shift the market demand curve for a specific good? The number of consumers.…

A: Market Demand: As In a market there are many buyers. Hence for a given market price, they have their…

Q: Consider a Cournot duopoly with a demand function of  p=10-Q(where Q=q1+q2) and a constant marginal…

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

Q: Toyota manufactures most of the vehicles it sells in the United Kingdom in Japan. The base platform…

A: Spot exchange rate: The spot exchange rate determines the rate at which domestic currency is…

Q: Consumption of Fixed Capital Government Purchases US imports Personal Taxes Transfer Payments US…

A: National income analysis is the economic method to study the total income that is earned by the…

Q: Suppose that you have data at the individual level that includes information on the price of a…

A: The responsiveness of the quantity required of an item or service to a change in the price of that…

Q: Suppose equilibrium is at Point D. The price of the good is expected to rise in the future, then…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve. Demand curve…

Q: The data in the table below are for the small country of Xanadu. Assume that the economy is…

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

Q: Depicted below is the Joint PPF of the three. If currently 400 units of salt r being produced, what…

A: The potential benefits that are lost when an individual or firm selects one option over another are…

Q: The bacteria in a culture grows by 5% in the first hour, decreases by 10% in the second hour and…

A: Following is the given information: Initial bacteria count, P = 50000 Time = 3 hours Now it is…

Q: In case of a surplus to attain re equilibrium: Select one: a) securities should be bought from the…

A: The money market is a regulated market wherein people loan and borrow brief, elevated financial…

Q: 1. Discuss the information function of the price in general. 2. Define the price elasticity of…

A: The link between the quantity required of an item or service and its price is represented…

Q: Royersford Knitting Mills, Ltd., sells a line of women’s knit underwear. The firm now sells about…

A: Here, given information is: Initial quantity: 20,000 pairs Initial price: £40 Fixed cost: £240,000…

Q: The figure on the right shows the average monthly flows (in millions) between employment,…

A: Unemployment is an expression that implies individuals who are employable and actively seeking a job…

Q: 1. Assume a market for a normal good is currently in equilibrium. If the government increases the…

A: In economics, equilibrium refers to a state where the quantity of a good or service supplied by…

Q: Use the demand and supply graph on the loanable funds market to show the impact of the following…

A: The loanable funds market is a market where all potential savers and all potential borrowers of an…

Q: Suppose the economy begins at full employment. Label this starting point as point "1." Then,…

A: Aggregate supply: The aggregate supply or AS is a macroeconomic concept. The total amount of…

Q: The establishment of the Interstate Commerce Act and the Sherman Anti-trust Act showed that the…

A: A government is the body that has the authority to make and enforce laws within a specific…

Q: uppose that in the French compound of a POW camp, the price of cheese is 16 cigarettes per cheese…

A: Opportunity cost implies what you have to give up to purchase what you want in terms of other goods…

Q: K -x+14x+60 The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x.…

A: The Total Benefit of production, in the instance of a company's production decisions, would be the…

Q: A 1-58 Willie Lohmann travels from city to city for busi- ness. Every other year he buys a used car…

A: Trade-in Allowance: Trade-in allowance is the indirect allowance given by the car dealer to the…

Q: Problem 4 Vietnamese Coffee Coyote Many people were surprised when Vietnam became the second largest…

A: The Exchange rate, which is the price at which one currency will be exchanged for another, controls…

Q: If the Detroit Pistons raise their ticket prices and see ticket revenues fall (holding all else…

A: The price elasticity of demand can be defined as the proportion of percentage change in the demand…