In a particular market there are social costs that are greater than private costs What type of failure is this market experiencing ? Market imperfection Public goods Externalities Economics of scale

Q: QUESTION 6 25 20 15 10 5 0 Figure A 0 3 6 9 1215182124 25 20 15 10 5 0 b) Supply and demand in…

A: The demand and supply curve of any good represent the market. Both demand and supply curve intersect…

Q: market demand function of a commodity is represented by Qx = 20-2Px -0.5Py + 0.01M; where Qx is…

A: Cross price elasticity of demand tell the sensitivity as the percentage change in the quantity…

Q: 2. What, if anything, do these institutions maximize? a) A consumer-owned, cooperative grocery store…

A: Optimal production or benefit levels achieved  are based on the purpose and type of institutions .…

Q: 2.103 Lifetime Savings Accounts, known as LSAS, allow people to invest after-tax money without being…

A: Net Present Value = Initial Investment + present value of all cash flows Here, NPV = -10,000 +…

Q: 25. The time required for a sum of money to amount to five times itself at 16% simple interest p.a.…

A: Simple interest depends on the principal amount of a credit or the first deposit in a savings…

Q: Cost-benefit analysis is important to determine the role of government in our economy because

A: Cost-Benefit Analysis is defined as a process which is used to measure the benefits of a decision…

Q: Using marginal thinking, if you were deciding whether to purchase a second television set, you would…

A: In case of Marginal Analysis, we compare the additional benefits that will be received from an…

Q: Long-run average cost (AC) of operation may decrease for three reasons. a. List and explain the…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first 3 subparts for you. If…

Q: Consider the shift drawn in Graph B. In this graph: CHF) ERRI LIV) A ERRIF) ERR EH/F) ERRH) B EARF)…

A: There are many ways which affects the flow of foreign currency in a country. Among them, there is a…

Q: Market demand for the nuclear substance pluranium is given below, along with the TR for the given…

A: The marginal cost of supplying megatonne of pluranium is $20 Fixed cost FC=$60 We know TC=VC+FC For…

Q: Identify and briefly explain the main effects of decreasing interest rate on the

A: Interest rate affects the economic activities in most significant way. It affects investments,…

Q: Discuss and explain the macroeconomic effects ‘Covid-19 lockdown’ has had on the UK economy.

A: Macroeconomics  Macroeconomics is a subfield of economics that focuses on the behavior of the…

Q: 1. P 1.00 is the principal which is invested at a nominal rate of 8% semi- annually. After one year…

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Q: You deposited P200,000 at BPI with an interest rate of 4% compounded semi-annually. What is the…

A: P200,000 x (1+(4%/2))11 = P269,512.20   Your money will be worth P269,512.20 after 5 years and 6…

Q: 3. Consider a firm that produces a single output Q using two inputs, q1 and 92. The production…

A: Production function Q = q11/2 q21/2Input and output pricesP(q1) = p1P(q2) = p2 P(Q) = 1

Q: What is the purpose of an economic system? Select all that apply. Multiple answers: Multiple answers…

A: An economic system aims at proper organization and distribution of the available resources. It aims…

Q: I am having trouble finding out the formulas to complete this question: The production function…

A: Production Function :  q = -0.6L3 + 18L2K + 10L Wage: w=$100 Rental rate: r=$800   1. Taking capital…

Q: Do you believe that eventually China will inflict force/violence against the Philippines? Defend.

A: In the long run, China will not use force or violence against the Philippines, it is not something I…

Q: A B D F с E S D -Qua

A: Consumer surplus is the difference between price a consumer is willing to pay and price he actually…

Q: 14. If interest is compounded at 20% per year, how long will it take for $50,000 t accumulate to…

A: Disclaimer: Since you asked multipart question, we are solving the 1st three subpart as per…

Q: 4. Key employment indicators from the household survey The Bureau of Labor Statistics (BLS) adjusts…

A: Participiation rate = (Labor force/Population) × 100 = (161,327/255,949) × 100 = 63.03%   Employment…

Q: An ice cream producer has fixed costs of Php 3,500,000 per month, and it can produce up to 15,000…

A: The breakeven point is the degree of production at which the costs of production equivalent the…

Q: Cinnamon Toast Crunch cereal and Trix cereal are considered substitute goods. Because of this, one…

A: "Substitute goods are those goods which are similar commodities which can be used for the same…

Q: Hedonic wage studies indicate a willingness to pay $40 per person for a reduction in the risk of a…

A: Every production process needs factor inputs to produce its products and services. These inputs have…

Q: Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic…

A: GDP, often known as the national income of the economy in this context, measures the production of…

Q: 2. Explain the law of increasing opportunity cost in a production possibility curve. What is the…

A: As per honor code, we’ll answer only one question at a time, we have answered the question 2. Please…

Q: Suppose that Country A's no-trade PPF is y = -2x + 40 and Country B's no-trade PPF is y= -x +30,…

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Q: Give examples and definitions of how these economic terms are used: (Simple definitions) -factory…

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

Q: 4. How many years would it take for an investment of $280,000 to cumulate to at least $425,000 at…

A: To find the solution to above problem we use following formula - FW = PW(1+ i)n FW = future worth…

Q: Knowledge is an example of a Select one: O a. common resource. b. private good. c. public good. d.…

A: Four different classifications of goods in economics are private goods, public goods, common…

Q: When the government receipts are more than the government expenditure we call it as Surplus budget…

A: "In an economy, government makes expenditure which means government spends money on commodities and…

Q: The fact that more and more women are seeking job has only compounded the problem of unemployment.…

A:

Q: 20. The compound interest on a certain sum of money for 2 years is Rs. 52 and the simple interest…

A:

Q: 7. Use cross-price elasticity of demand to define the following commodity types: • Substitutes…

A: The degree to which the quantity desired for one good responds to a change in the price of another…

Q: A company is analyzing a make-versus-purchase situation for a component used in several products,…

A: To analyze the alternatives and select the more economical one we find the estimated costs per unit…

Q: ECONOMICS UPVOTE WILL BE GIVEN. PLEASE WRITE THE SOLUTIONS LEGIBLY. NO LONG EXPLANATION NEEDED.…

A: Fixed cost = 3,500,000 Maximum Capacity = 15,000 ice cream tubs per month Market Price = 500 per tub…

Q: 12. Government prefers to reduce imports with a tariff instead of a quota depends on whether A.…

A: We know that In an open economy, tariffs and quotas are the two types of trade barriers used by the…

Q: Which of the following would most likely result in an increase in the demand for iPhones, assuming…

A: Demand curve is a downward sloping curve that shows different combinations of price and quantity…

Q: Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic…

A: The nominal GDP refers to the final goods and services produced at market price within the domestic…

Q: Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021…

A: The Consumer Price Index is an important economic metric. It measures the average change in prices…

Q: If the value of the marginal product of pie makers increased, a possible explanation could be Select…

A: Introduction The Marginal Product is the total product multiplied by a single variable input unit…

Q: Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021…

A: consumer price reflects the cost of living of the people, it shows how the prices of consumer goods…

Q: 6) The figure below shows a student's feasible frontier and her indifference curves for final exam…

A: Two commodities are ideal substitutes for one another - For this situation, the detachment bend is a…

Q: 12 8 4 0 ▬▬▬▬▬▬▬▬▬▬ M 0 4 8 12 U D1 16 20 07. If supply changes from S2 to S1 and demand stays…

A: We are given that the supply curve have changed from S2 to S1 but the demand curve stays constant at…

Q: What short-run effect might a decline in the demand for electronic components for automatic teller…

A: ATC refers to the cost that is used to produce a unit of good which is divided by the manufacture of…

Q: 2. A sum of $2 million now is equivalent to $2.42 million 1 year from now at what interest rate?

A: Given  The present value is 2 million  One year after this present value is equivalent to $2.42…

Q: Consider the labeled areas on the graph. Select every area on the graph that represents consumer…

A: Surpluses are amounts of resources or assets that are not being actively used. The difference…

Q: A company is considering two machines. Machine X has a first cost of $30,000, AOC of $18,000, and 5…

A: Lets tabulate the given information:   Machine X Machine Y First cost FC 30,000 50,000 Annual…

Q: What is the value of real GDP in 2019 if the GDP deflator is equal to 1.1 and nominal GDP is $21.5…

A: GDP deflator is used to measure the change in price level in entire economy. It helps to measure how…

Q: How would an increase in income tax influence the aggregate demand and the aggregate supply in the…

A: Aggregate demand: Aggregate demand, or final domestic demand, is the total demand for final goods…

Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.