If a firm enjoys economies of scale up to a certain output level, and cost then increases proportionately with output, what can you say about the shape of the long run average cost curve?

Q: What strategies survive iterated deletion of strictly dominated strategies?

A: Dominated strategy is the best course of action irrespective of rival firm or player strategies.

Q: Refer to figure 19.1 Bilateral Transboundary Pollution and the Economics of Reaching an Agreement $…

A: Marginal abatement cost (MAC) refers to the additional cost incurred to reduce one unit of pollution…

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A: A market structure in which there are only two firms or sellers that produce and sell a homogeneous…

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A: Money is a widely accepted medium of exchange that is used to facilitate transactions, store value,…

Q: Could you please answer part (d) (e) (f)

A: Equilibrium refers to a state of balance or stability in a system where opposing forces or…

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A: The market for employment has significant financial repercussions for many sectors of the country's…

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A: Economic indicators can be anything the government wishes, but particular data from government and…

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A: A legally binding agreement between two or more countries or regions that aims to promote…

Q: ive some instances of environmental issues that the Pigovian tax can be used to resolve.

A: The Pigovian tax, also known as a corrective or environmental tax, is a market-based economic…

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A: In this question we can find the minimum proportion of good cars in the market with the help of the…

Q: How does the aggregate goods and services market differ from the regular supply and demand market?…

A: The aggregate goods and services market and the regular supply and demand market are distinctive in…

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A: In the realm of economics, welfare pertains to the collective prosperity and contentment of a…

Q: Assume the economy has positively sloped AS curve. A leftward shift of the AD curve will result in

A: When the Aggregate Demand (AD) curve shifts leftward in an economy with a positively sloped…

Q: The cross-price elasticity of demand for strawberry jam and bread is -0.7. If the price of…

A: The cross-price elasticity shows when the price of one good is changed what would the effect of this…

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A: The market supply is the total volume of goods and services that all the sellers are willing to sell…

Q: Price (dollars) 220 200 180- 160- 140- 120- 100- 80- 60- 40 20- Demand for GPS Units 240 Quantity…

A: Since you have posted a question with multiple subparts, we will provide the solution to only the…

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A: Diminishing rate of technical substitution of labor for capital refers to the concept in economics…

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A: Wage negotiations between employers and employee unions are critical for establishing fair…

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A: Despite the fact that central banks have existed since antiquity, the modern notion of a centralised…

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A: In game theory, a dominant method is a strategy that offers the highest possible payoff for a…

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A: Unemployment refers to the situation of a individual of  being without a job or work, despite he/she…

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A: Net Present Value (NPV) is a financial metric used to evaluate the profitability of an investment or…

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A: The economy is at full employment when AD = AD3. The real output at the intersection of the AD3 and…

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A: A quintile refers to one-fifth or 20% of a whole, divided into five equal parts. In the context of…

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A: The behavioural consequences of labour (income) taxes are changes in individuals behaviour and…

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A: According to the given question the total fixed cost is given to be as:-32Q² + 10Q - 44We need to…

Q: Question 11 A supermarket has estimated values of the income elasticity of demand for some of its…

A: Income elasticity of demand is a measure that quantifies the responsiveness of the quantity demanded…

Q: The coconut oil demand function (Bushena and Perloff, 1991) is Q=1,200-9.5p+16.2pp +0.2Y,

A: The coconut oil demand function is given below:Q = 1200 - 9.5p + 16.2pp + 0.2YWhere Q is the…

Q: A rise in government spending on large infrastructure projects, such as a new high speed railway…

A: Government spending alludes to the aggregate sum of money that a government distributes and uses to…

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A: Foreign exchange, often abbreviated as "forex" or "FX," refers to the global decentralized market…

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A: a) Medium of exchange: Money serves as a commonly accepted medium that facilitates the exchange of…

Q: In​ 1923, a certain country underwent one of the worst periods in history of​ hyperinflation, which…

A: …

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A: The development theory deals with those aspects of an economy that focuses on the overall economic…

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A: Game theory helps in the decision-making of the players on the basis of different payoffs. A player…

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A: Liberalization, Privatization, and Globalization, or LPG reforms are a set of policies adopted by…

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A: Poverty can be defined as a condition portrayed by an absence of material resources, like income,…

Q: When wage rates rise slower than the increase in labour productivity, the OA. output gap increases…

A: There is an increase in wage rate and an increase in labor productivity. But wage rates rise slower…

Q: Q3) A chair manufacturer hires its assembly-line labor for $30 an hour and calculates that the…

A: In this question, we will be addressing the cost minimization strategy of a chair manufacturer. The…

Q: The opportunity cost of gathering firewood is then the calories of fish given up per log of firewood…

A: Opportunity cost is the benefit of the best alternative forgone while making a decision. It is the…

Q: Suppose GDP at Market Price is $ 13500, Consumption expenditure is $1500, Government expenditure is…

A: GDP at market price = $13500Consumption expenditure = $1500Government expenditure = $500Net exports…

Q: An economist needs to predict the real wage rate, employment, output, real interest rate,…

A: The economist thinks that there is a temporary adverse supply shock. This implies a fall in the…

Q: think the question b should be $500,000 NOT $5,000,000

A: Money multiplier=1/required reserve

Q: company produces two related products, the demand functions of which are given as 15 2p₂ +3 92 = 11…

A: a) To determine whether the two products are complements or substitutes, we need to examine the…

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A: Investment: The act of allocating resources, such as money, capital, or time, into projects, assets,…

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A: Economic statistics serve as helpful instruments that assess the economic condition of a nation and…

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A: If the government doubles the tax on gasoline, it does not guarantee that the revenue from the fuel…

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A: Sustainability alludes to the act of addressing the necessities of the current generation without…

Q: ADVANCED ANALYSIS Currently, at a price of $2 each, 250 popsicles are sold per day in the…

A: Elasticity of supply is a concept in economics that measures the responsiveness of the quantity…

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A: The government's intervention or regulation of prices in the economy to influence and control the…

Q: Explain why “tragedies” occur when the goods involved are common goods/resources. Explain how the…

A: The commodities supplied and available in the economy can be classified into 4 broad categories. One…