In the long-run, the representative firm in monopolistic competition tends to have: Select one: A perfectly elastic demand curve Economic profits Maximized consumer utility Limited product differentattion Excess capacity

Q: The price of a Universal Testing Machine doubles in 15 years. What is the compounded yearly interest…

A: Given that,    Principal (P): $1000(let assumed) Total P+I (A): $2,000(let assumed) Time (t in…

Q: Suppose that Glitter Gulch, a gold mining firm, increased its sales revenues on newly mined gold…

A: Revenue is the amount of money a business receives at any one time, excluding any costs incurred…

Q: What is the price elasticity of demand? O A. The extent to which a change in price is affected by…

A: The change in quantity required or provided as a result of differences in the demand or supply…

Q: During the Civil war, if shopkeepers expected the price of butter to increase in the future, what…

A: Introduction Price and demand are negatively related to each other whereas price and supply are…

Q: ma Good-Student is an engineering student at AMU. She is need of a vehicle to commute to school. She…

A: Compound interest is extra interest to the principal amount of a loan or deposit, or in simple…

Q: Use economic equivalence to determine the amount of money or value of i that makes the following…

A:

Q: Cobb-Douglas Example 1. Caitlyn's utility is given by U = X x Y, where MUX = Y and MUX. Px=2 P = 4…

A: MRS, marginal rate of substitution is the slope of indifference curve. It is the rate at which X is…

Q: Which of the following reduces the money multiplier? O banks loan all their excess reserves O the…

A: The money multiplier is an economic factor that leads to change in other related economic variables…

Q: Consider six mutually exclusive and indivisible investment alternatives under evaluation by…

A: We have given six alternatives having salvage value equal to the initial investment. MARR is 10% Let…

Q: Nominal GDP increased from roughly $15 trillion in 2010 to $21 trillion in 2020. In the same period,…

A: Real GDP is a computation of a country's gross domestic product that has been modifying for…

Q: True/False: Net exports = exports plus imports. True/False: The estimated market value of volunteer…

A: We know that Export can be defined as the total amount of commodities and services sold outside the…

Q: determinants of demand are internal to the firm?

A: Demand refers to the amount of a good that consumers are willing and able to purchase at different…

Q: Assume the demand for shirts is Q, and the cost per shirt is $10. Now assume that there the firm…

A: The opportunity cost is time spent playing and that cash to spend on something different. A farmer…

Q: Samson bought a new cutting  machine for P5,000,000.00. The machine could be sold for P50,000.00…

A:

Q: Why is China economy called social market economy?

A: Social Market Economy can be portrayed as a financial request that in the structure of a market…

Q: Show that a monopolist facing inverse demand p(q) = q2 + 10 with constant marginal utility MC 5 will…

A: Demand function: p(q)=q-2+10            .......(1) Marginal utility: MC=5 First, we will find…

Q: Which Determinant of Supply will cause the supply curve for blueberry jam to shift to the right when…

A:

Q: How does governance affect the development of a country?

A: Normally, there are 3 different kinds of growth that take place in an economy. These are growth,…

Q: economics question. *What were the policy responses used to combat the shortage of hand sanitizer,…

A: The COVID-19 pandemic had devastating impact on basic need products due to less supply and more…

Q: If TC = 297 +33Q, what is the marginal cost when Q=19?

A: Marginal Cost - It is defined as the change in total cost due to production of one more unit of the…

Q: f supply remains constant and demand increases, what happens to price and quantity? A.…

A: The equilibrium is established where the demand and supply forces are equal. The change in the any…

Q: Let M be the quantity of money and i the interest rate in decimal form. Suppose that money demand is…

A: Demand for money (Md) = 100−20×​(1+​i) Supply of money (Ms) = 79

Q: 11. The figure illustrates the competitive market for cell phones. Price (dollars per cell phone)…

A: Here, the given graph shows the market for cell phones in which equilibrium quantity is 100 cell…

Q: PRICE LEVEL 200 180 160 140 120 100 80 60 40 20 + 0 1 AD Real GDP and Natural Real GDP SRAS 2 LRAS 3…

A: The SRAS is up inclining(upward sloping) a direct result of the misperceptions hypothesis, the tacky…

Q: People's tendency to prefer the "default" option over other options is known in prospect theory as…

A: According to the prospect hypothesis, investors evaluate gains and losses differently, giving…

Q: Define Fair Trade

A: Meaning of Trade: We know that The term trade refers to the situation under which the products and…

Q: Elasticity of demand tells us:                       How much price responds to a shift in demand…

A: What is elasticity of demand tells us:

Q: f a person performing a task has been achieving an 75 percent learning curve and if it took 53…

A: When the cost of units is used instead of time of unit, the relationship will often be referred to…

Q: A new office park is considering to start an express bus service for workers. A survey of office…

A: Utility function is defined as the function which measures preferences over a given set of goods and…

Q: The outbreak of the Covid-19 pandemic early this year forced organisations to greatly accelerate…

A: The Covid-19 crisis is a wonderful illustration of how an organisation must examine its operations…

Q: 1. A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the…

A: Willingness to pay is the maximum price that a person is willing to pay for a good.  Given piece of…

Q: On January 1", an engineer borrowed 40,000 dirhams from a bank. He chose to repay the loan over one…

A: The periodic interest rate refers to the rate of interest paid or charged on a loan or realized on…

Q: A farm producing wheat has the following production function Q = 4L + 3K. Does the above function…

A: Given, Q=4L+3K Production function shows the technical association between the input and output. It…

Q: A1-1. Imagine that a market for a good is characterized by the following supply and demand…

A: In the free market, equilibrium price is determined by the forces of the demand and supply curve.…

Q: Pedro made 24 payments of P200,000.00 each,  and all  payments are  made at the beginning of each…

A: This is an example of "Annuity due" as here the payments are being made at the beginning of each…

Q: 1. Pedro made 24 payments of P200,000.00 each, and all payments are made at the beginning of each…

A: As here all the payments are being made at the beginning of the year. Hence this is an example of…

Q: 2. The cost of operating a jet-powered commercial (passenger- carrying) airplane varies as the…

A: Given: The cost of operating a large ship (CO) varies as the square of its velocity (v);…

Q: QUESTION 13 If a country's GDP decreases, but its debt remain unchanged during that year, then the…

A:

Q: Question 3 Explain how the following situation would affect a nation's production possibilities…

A: A Production Possibilities Frontier (PPF) shows different combinations of two goods that a country…

Q: George and Laura live on an island in the Caribbean. Their diet is fish and biscuits. George can…

A: A country or person is said to have comparative advantage in producing a particular product if the…

Q: 5. Calculating tax incidence Suppose that the U.S. government decides to charge beer producers a…

A: There are two types of taxes: Direct taxes, and indirect taxes. Taxes imposed on commodity comes…

Q: Find the degrees of freedom in a regression model that has 40 observations, 6 independent variables…

A: Regression analysis is a powerful tool for uncovering the associations between variables observed in…

Q: 2. A construction site uses two types of workers - skilled (S) and unskilled (U). They produce feet…

A: Production Function This link between the amounts of productive inputs (such as labor and capital)…

Q: nflation stated for the two projects is 2.5%. When performing a marginal analysis comparing two…

A: Inflation is defined as the rate of increase in the prices of goods and services during a given…

Q: What is an externality?

A: Externalities are associated with the costs and benefits of a situation to the third person. They…

Q: Suppose that the supply and demand schedules for a product are as follows: Price $1 $5 $10 $15 $20…

A:

Q: Which of the following arguments can be used to correctly defend the WTO’s position on the…

A: Introduction The world trade organization was formed in 1995. Its headquarters are in Geneva. It is…

Q: The diagram below shows the supply and demand curves for some product somewhere. price per unit (P)…

A:

Q: 1

A: Given: Rate of interest (r)=0.05 Rate of growth of real GDP = 0.03

Q: What are the pros and cons of the creation of a medical marijuana monopoly? *What are the pros and…

A: Monopoly is the market where the producer enjoys the privilege of determining the price in the…