How profit is different from the incorporating normal profit and when the normal profit is into average cost curve?

Q: You are Lori Lightfoot. The city needs money.  You are contemplating 2 sources of revenue:  levying ...

A: Introduction Here we have given different prices level of gas with different demand. At first we sta...

Q: In an economy, the supply and demand functions of the residential rental market are as follows: Qs =...

A: The equilibrium in the market is determined by the market forces of demand and supply. The demand cu...

Q: In a given town, demand for fish and supply of fish is given by P = 4976 - 6* Q and P = 2248 + 20 *Q...

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Q: Demand and Supply Price $10 $9 $8 $7 Quantity Demanded Quantity Supplied $8 $5 $4 $3 $2 $1 0 1 23 4 ...

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: manufacturer!s total cost is C(x) = 0.1x3 - 0.25x2 + 300x + 100 dollars, where x is the level of pro...

A: We calculate the total cost with x=6 and x=6.1 and then see the difference. TC(6) = 0.1(6)3 - 0.25(6...

Q: At what point would a competitive firm shut down in the short run

A: A competitive firm is a price taker, which means the firm takes the price determined by the market f...

Q: Columns 1 through 4 of the accompanying table show the marginal utility, measured in utils, that Ric...

A: At this point, when the marginal utility from one good for each its price is equivalent to the margi...

Q: Jerry spends $ 10 a month on pet dispensers and superman action figures. His marginal- utility-to-pr...

A: Money spent by Jerry = $10 Marginal utility to price ratio for pea dispenser = 40 Marginal utility t...

Q: Which of the following statements is false? Quantity discounts is the same as second-degree price d...

A: Price discrimination means charging different price for the same good . There are three degree of pr...

Q: 1. Suppose that the economy can be described by the following equations: C = 400 + (8/9)*DI I= 300 G...

A: Given information C= 400+(8/9)*DI I=300 G=800 T-1/2*Y X-M=0  

Q: A toy manufacturer's cost for producing q units of a game is given by C(q) = 1450 + 3.6g + 0.0006g. ...

A: p = 8.6 - (1/440)q p = 8.6 - 0.0023q TR = pq       = (8.6 - 0.0023q)q     = 8.6q -0.0023q2 TC = 1450...

Q: An investor bought stock for $40,000. Fourteen years later, the stock was sold for $50,000. If inter...

A: The inflation rate that is measured by taking into account inflation is referred to as the nominal i...

Q: Discuss reasons why women are more likely to be economically burdened in old age vs men.

A: A person is said to be economically burdened in old age (or in any stage of life) when his/her incom...

Q: The real interest rate is 6 percent a year and the income tax rate is 50 percent.   With no​ inflati...

A: Given real rate of interest = 6 % Income tax rate = 50 % Inflation rate = 0    

Q: 5. Suppose that people’s preference for consumption fell. How would this change the aggregate demand...

A: The aggregate demand curve refers to the different quantities are demanded at the different price le...

Q: Difference between perfect market and imperfect market? The answer should be brief, concise and stro...

A: Perfect market- The perfect market will be a market that is organized to have no inconsistencies tha...

Q: Consider the issue of government intervention in a market economy. Please provide brief discussions ...

A: Government intervention in an economy is a talk about the presence of public power which has this au...

Q: Assume that household 1 and household 2 has the following demands for education (a private good) (in...

A: Consumers' willingness to buy products and services at certain pricing is referred to as demand. Mar...

Q: Analyse and identify the most important macro- environmental forces ( political, economics, social, ...

A: A PEST study is performed to determine the external influences that affect an organization's Macro E...

Q: 5. Comerica's Balance Sheet information is given in the table below Assets Liabilities Reserves - $7...

A: In the mentioned question we have to calculate the excess reserve.

Q: What is your insight about poverty?

A: In economics, poverty is one of the concepts to study when analyzing the overall functioning of the ...

Q: Consider the following demand for rounds in a golf club: Qd = 300 - 5p = p = 60 – 0.2Q %3D Assume th...

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Q: Given the assumptions of the law of diminishing marginal utility (exactly the same product consumed ...

A: Marginal utility (MU) is defined as the extra utility or benefit a consumer gets by consuming an ext...

Q: Consider the following information on aggregate income, consumption expenditure, and planned investm...

A: Formulas: 1. Saving (S) = Income (Y) - Consumption(C) 2. MPC = ∆C/∆Y 3. MPC + MPS = 1

Q: The maximum carrying capacity of a park is 100 animals. Currently, there are 10 animals in the park....

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Q: If the marginal revenue is 45 and the marginal cost is 45 also. What can you say about the firm's pr...

A: Profit maximization is the process through which corporations and organizations devise methods to in...

Q: You are shopping around to determine which bank account yields the highest return. You have three ch...

A: Future worth using compounding formula is  F=A1+innt           ... (1) Where i is the rate of intere...

Q: Draw a typical Investment curve into the diagram. Briefly explain how you came up with the curve and...

A: We now suppose that the population is not static. Rather, the population and labor force size rise a...

Q: In Bismarck systems, patients are charged premiums based on their risk rating. True False

A: The Bismarck Model is a limited health-care system in which patients pay a fee to a fund, which then...

Q: Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open...

A: As we know that fixed cast of the expenditure incurred on fixed factor which is not changeable as in...

Q: What is the definition of equal product curves in microeconomics? Mention the important applications...

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Q: In an axes, sketch the market demand curve for education and sketch the market supply curve on the s...

A: Market Demand is the sum of individual Demand. So we have, Price Market Demand 36000 130 4500...

Q: Nick has the following labour supply curve: Labour Supply W. W. w. LABOUR (Hours) the opportunity co...

A: Backward binding labor supply curve. Which shows that as wage increases, workers supply more hours o...

Q: ork belly strips and lettuce are complementary goods because most of the time they are enjoyed toget...

A: Complementary commodities are those commodities which are used together. When the price of one good ...

Q: EXPLAIN PROVIDE EXAMPLE OF THE FOLLOWING FACTORS AFFECTING THE DEMAND Price of the good or service ...

A: The quantity of an item that consumers demand at various prices during a certain period of time is r...

Q: Which of the following are reasons the European Union is considered a suboptimal currency area? Chec...

A: If an economy is at a suboptimal level, it is below the optimal or standard level. A suboptimal leve...

Q: What are the conditions that needs a perfect market abd what are the conditions that needs the marke...

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Q: a duopoly faces an inverse market demand of: p= 330 – 391 - 3q2. ou are told that firm 1 is the lead...

A: In the stackelberg Model, leader firm produces more than the follower.  

Q: While trade flows have slowed down since (circa) 2010, capital flows have continued growing. Therefo...

A: When talking about globalization, it can be said that it is the situation when two or more countries...

Q: Suppose a consumer's utility function is U(x,y) = min{x, y} For this utility function the optimal ch...

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Q: Suppose the economy of Canada is governed by the following consumption function, investment function...

A: Given information C=300+0.6(Y-T) I=700-80r G=500 T=500 Money demand=Y-200r Money supply=2 P=4  

Q: Problem 4: A cutting-edge product of Continental Fan had the following net cash flow series during i...

A: The internal rate of return (IRR) calculates the time value of money.  When you calculate the rate o...

Q: Suppose that a pure monopolist can sell 20 units of output at $10 per unit and 21 units at $9.75 per...

A: Total revenue at 20 units of output = 10*20= 200 Total revenue at 21 units of output = 9.75*21 = 204...

Q: e in this western province passes laws that make it easy for workers to join a union. Through collec...

A: Equilibrium is achieved at the level where Ls equals Ld

Q: Answer the following questions about country A. a)   What was GDP equal? b)   What was the value o...

A: Calculation is as follows:  

Q: One way that Bismarck nations control costs is through government-set prices for care. True False

A: Bismarck model is a health care system where people deposit some fee in a fund for the purpose that ...

Q: The production of good x creates a negative externality on firms producing good y. Total costs are c...

A: Given: TC (x) = x2  px = 90 c(x,y)=y2 + 20x py = 20

Q: a) Discuss advantages and disadvantages when government imposes price ceiling.

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: The maintenance cost of a new equipment is projected to start at the end of the 2nd year at an amoun...

A: Cost is the expenditure incurred in the production of goods and services. It is the fixed cost and v...

Q: If wages fall, then the short-run aggregate curve shifts to the

A: In an economy, wages refers to the amount of money earned by the people when they provide their effo...