Q: Please tell me which multiple choice are correct Excess supply in a competitive market with…
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A: Perfect competition refers to the form of market in which large number of firms exists.
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A: The supply curve refers to a curve that indicates the quantities of any good or service that a…
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A: Meaning of Perfect Competitive Market: The term perfect competitive market refers to the situation…
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A: Monopolistic market: It refers to that market in which there is a large number of buyers and sellers…
Q: Which of the following are NOT characteristics of a competitive market? * a)Buyers and…
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Q: True or false: In economics, excess supply in a competitive market with no intervention will lead…
A: Diseconomies of scale will take place,when the average cost increases and the output decreases.…
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A: Equilibrium is achieved at the output level where Qs=Qd
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Q: Multiple choice - microeconomics 43) What will entry into a market by new firms do? A. It will…
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A: Market achieves it's equilibrium when demand and supply are equal at a certain level of price…
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A: In any given market, prices always adjust up or down so that the supply is equal to the demand and…
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A: Competitive market: Competitive market is the market structure where there exist a large number of…
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A: If the input cost are falling for the firms that means the cost of production will reduces.
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Q: A demand curve is negatively sloped, while a supply curve is positively sloped. True False
A: Yes, the statement is right.
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A: The given statement is true. This is because as per the given information the market for wheat…
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A: Answer to the question is as follows:
Q: Explain in detail how purely competitive markets, in the long-run, know how to adjust to and provide…
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…
Q: The figure shows the hat market before and after a demand shift. Based on the figure, which of the…
A: Equilibrium in the market occurs at the intersection of demand and supply curves.
Q: What condition is NOT required in the definition of a competitive market? Question 1 options:…
A: Answer: Perfectly competitive market: in a perfectly competitive market there are a large number of…
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A: The law of supply refers to the direct or positive relationship between the quantity supplied of a…
Q: Characteristics of competitive markets The model of competitive markets relies on these three…
A: In a perfectly competitive market there are large number of buyers and sellers selling identical…
Q: Why does a degree in price dispersion suggest that we do not have a perfect market?
A: Introduction- Firstly we will study the meaning of price dispersion, it occurs when the different…
Q: Identical products, as well as a large number of buyers and sellers, are characteristics of a…
A: Under perfect competition, there are many buyers and many sellers in the market selling homogeneous…
Q: On the graph the supply in the Rest of the World has shifted from Sstart to S2 and the market in the…
A: For answering this question, we will analyse each of the given options separately.
Q: The model of competitive markets relies on these three core assumptions: 1. There must be many…
A: Perfectly competitive market: This is the market situation where a large number of firms or sellers…
Q: n an imperfect market, individual firms: a. are always able to set the price of their product.…
A: There are two types of market, i.e., perfect and imperfect. In perfect market, each buyers and…
Q: Difference between perfect market and imperfect market? The answer should be brief, concise and…
A: Perfect market- The perfect market will be a market that is organized to have no inconsistencies…
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A: A supply chain begins with the determination of crude materials to deliver labor and products and…
Q: Because the market supply curve is the sum of individual producers' supply curves, an increase in…
A: The quantity of a commodity that producers are willing and able to produce at specified prices…
Q: Explain. Incorrect as well In an imperfect market, individual firms: a. are always able to…
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Q: According to the ‘Porter’s Five Forces model’, all of the following are the factors that affect the…
A: Porter's Five Forces model is one of the significant approaches to understand a market because it…
- Imperfect markets experience a slope for MR that is twice slope of AR because of the following assumption_____________________________________?
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- using the diagram below defent thr point that a free market will always move from disequilibrium to equilibrium according to demand and supply theory Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.TRUE or FALSE 25. Healthcare, sanitation, education, and independence of women are considered parts of the demographic transition of a nation. 26. The demand for children equation posits that the demand for surviving children is directly related to the net price of children but is indirectly related to the taste for goods relative to children. 27. Fertility rate is measured from a women's perspective so does the mortality rate.Identify and describe four major categories of variablesthat can be used to segment con-sumer markets. Giveexamples of product markets that are segmented byvariables in each category
- Short answer question. Discuss how a firm’s demand for labor and the wage rate might change if the market were to become imperfect.Holding everything else constant, if the cost of production( a supply-side factor) decreases, then the price will a) increase b) decrease c) remain the same d) (unknown; not enough information to specify among these options)a) Derive the goods market demand curve in terms of the output (Y) and the exogenousvariables:c0,c1,b0,b1,g0,g1andT. Show your work for full credit. b)Draw the Goods Market Equilibrium. Be sure to label all curves, label the equilibrium point, and label the slope of each curve. c)Solve for the equilibrium output (Y) in terms of the exogenous variables:c0,c1,b0,b1,g0,g1andT. Show your work for full credit. d)Supposeg1increases, but stillc1+b1+g1<1. Using a graph of the goods market, show how we would represent an increase in the value ofg1on equilibrium output y. Be sure to label all axes, curves, and equilibrium points. e)Suppose instead,c1+b1+g1= 0. Is the equilibrium in the goods market still possible? If so, what is the equilibrium output? You must explain your answer to receive full credit.
- In case of a surplus to attain re equilibrium: Select one: a) securities should be bought from the market b) interest rates should increased c) securities should be sold in the market d) The currency must be immediately devalued e) The currency must be immediately revaluedThe short run aggragate supply curve slopes_______ showing a _____________ relationship between _______, a measure of output and ________.Predict the impact on each market. Use + and – to indicate whether there will be anincrease or decrease in demand (D), supply (S), equilibrium price (P) and equilibriumquantity (Q). If there is no change, use N, and if the change cannot be predicted, use Ufor uncertain. Market Event D S P Q Canadian Wine Early frost destroys a large percentage of the grape crop - - + - Wood-burning The price of heating oil and natural gas triples + stoves Cell phones Technological advances reduce the costs of producing cell phones Gold Large gold deposits are discovered Fast foods The public show great concern over high sodium and cholesterol in fast foods; also, there is an increase in the minimum wage Bicycles There is increasing concern by consumers about physical fitness; also, the price of gasoline falls.
- A storm destroys several factories, thereby reducingthe stock of capital. What effect does this event haveon fac tor markets?a. Wages and the rental price of capital both rise.b . Wages and the rental proce of capital both fall.c. Wages rise and the rental price of capital falls.d . Wages fall and the rental price of capital rises.A production function has two inputs: domestic labor (Edom) and foreign labor (Efor.) The market is originally in equilibrium as shown below, and the production budget is fixed. Suppose a shock occurs that increases the marginal product of domestic labor. Assuming no changes in domestic or foreign wages, what will happen to the quantities of domestic and foreign labor employed? Initial long run equilibrium (prior to shock):Industries like manufacturing, retailing and utilities are considered seasonal and may exhibit uneven or seasonal demand true or false [ dont use chatgpt]