List the conditions that must exist for a firm to make economic profits over the long run

Q: Q10) assume for some reason 10 pizza rolls are bought and sold in the market, what is the value of…

A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…

Q: A manufacturer has been selling 1100 QLED televisions a week at $540 each. A market survey indicates…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: Consider an economy with two goods, consumption c and leisure 1, and a representative consumer. The…

A: Considering an economy with two goods consumption and leisure A consumer's daily leisure hours  l =…

Q: Alpha's Price Policy High Low OOO A Multiple Choice C Beta's Price Policy High $20 $20 $10 $30 B Low…

A: The game theory helps in understanding the strategy of the market. The player analyses the market…

Q: The mixed strategy n.e. to the following game is Prove it mathematically:

A: Here the probability with which player 1 plays L is ‘p’ and the probability with which the player 1…

Q: 3. What characterizes a public good? What characterizes an open access good? What problems do we…

A: In economics, we can classify goods in two broad categories which are:- (1) Private goods  (2)…

Q: Status of economic development in sudan. Explain?

A: Economic development is the steady rise in economic activity that occurs over time in a nation or…

Q: Let's say when gasoline prices increase by 50%, quantity demanded decreases by 10%. Calculate the…

A: The elasticity of demand measures the responsiveness of change in quantity demand to change in…

Q: If business firms do not have to generate revenues sufficient to cover their sunk costs, does anyone…

A: Sunk cost:  Sunk costs are those costs which already been incurred and cannot be recovered.  Hence,…

Q: The price elasticity of demand for business air travel is -0.75 and for nonbusiness air travel is…

A: Price elasticity refers to the degree to which the quantity demanded of a good or service changes in…

Q: Consider a Keynesian model with consumption function C = 100 + c(Y – T),  0<c<1 where taxes T are…

A: Multiplier is a factor by which equilibrium output changes when there is a change in autonomous…

Q: PRICE (Dollars per pack) 10 40 AU NE 0 Supply Demand 0 10 20 30 40 50 60 70 80 90 100 QUANTITY…

A: Tax revenue is the product of tax per unit and quantity.  The tax revenue lead to the deadweight…

Q: The table to the right contains price-demand and total cost data for the production of projectors,…

A: Given data : Q P C 270 592 115000 360 413 120600 520 186 165000 780 56 193000

Q: Kate recently invested in real estate with the intention of selling the property one year from…

A: Investing refers to the process of allocating resources, typically money, with the hope of later…

Q: State of development in Kenya. Explain

A: Development is a process of good change wherein people, communities, and nations gradually better…

Q: Calculate the Walrasian equilibrium price p1*

A:

Q: The following graph plots the forward premium for a foreign currency along the horizontal axis,…

A: According to the interest rate parity (IRP) theory, the difference in interest rates between two…

Q: Derive a bid-rent function for a "typical" firm. Draw a graph of the bid-rent function that is…

A: Bid rent is a concept in urban economics that refers to the maximum amount of money a person or…

Q: are debating how many to watch. Here is their willingness to pay for each film: Dwayne Javier First…

A: d) One method would be to divide the costs among the roommates according to the advantages they…

Q: Bill's mortgage balance is $70,000 with a 7% annual interest rate. His monthly payment is $465. What…

A: Given that; Mortgage balance =$70,000 Annual interest rate = 7% Monthly payment = $465 Monthly…

Q: A lottery has a grand prize of $1,000,000, 2 runner-up prizes of $100,000 each, 6 third-place prizes…

A: Probability refers that it is a a quantitative measure of the uncertainty associated with an event…

Q: 3 Polynomial Terms carnings-78033.59 +3220.77age-33.831age² +3927.84cduc n-17,870 I = .1829 (69.18)…

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

Q: Which of the following is NOT a limitation of job expansion?

A: Job expansion is a process of creating the new job opportunities in the economy, this can lead to…

Q: RM3. Quantity demanded is Select an answer and submit. For keyboard navigation, use the…

A: The amount of a good or service that customers are willing and able to purchase at a specific price…

Q: Graph Christine's budget constraint by moving the endpoints of the line segment in the grap

A: Budget constraint represent all the combinations of the goods and services that the consumer can…

Q: Suppose the economy is initially at a long-run equilibrium. The Fed then increases the money supply.…

A: In AD and AS model, Economy is in equilibrium where AD=SRAS and in long run it is where…

Q: Review the graph at right. What is the unregulated monopoly price? $[60] (enter your response as a…

A: In case of a monopoly,  The profit is maximized where the marginal cost is equal to the marginal…

Q: $ per unit $20 $10 5 10 15 20 25 30 MC ATC MR AVC Output (q) The graph above shows a firm's Marginal…

A: A firm is a price taker when it cannot affect the market price and accepts the market price as…

Q: Suppose a new article is published claiming that Houston has abnormally high levels of pollution…

A: Market equilibrium occurs at such a point where the demand curve and supply curve intersect each…

Q: Assuming constant wages implies that   A. a decrease in the price of goods lowers profits and SAS…

A: The short run aggregate supply curve (SAS) shows the total quantity of output, real GDP that firms…

Q: The demand for monorail service in a city in 2005 can be approximated by q-4,500p+ 44,600 rides per…

A: Total revenue: The demand function reflects the inverse relationship with the price of any commodity…

Q: Payments of Php Find the present value of the annuity due at the specified interest rate: 250 will…

A: The present value (PV) of a series measures the current value of the cash flows in the future

Q: 4. Cost-benefit analysis A local college is deciding whether to conduct a campus beautification…

A: A good is nonrival when its availability does not decrease by the other people’s consumption. A good…

Q: Consider an economy with two goods, consumption c and leisure 1, and a representative consumer. The…

A: The consumer's preferences over consumption and hours of work can be represented by the utility…

Q: Table 1 Product MP3s Tacos Coats 2009 Quantity 40 2,000 300 Price $250.00 2.00 50.00 2012 Quantity…

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

Q: Use the Monetary Intertemporal Model that we saw in class to predict the effects of a persistent…

A: The Monetary Intertemporal Model is a model that considers the intertemporal choices of households…

Q: Suppose that there are a total of 9 other banks in the economy and that the balance sheet for the…

A: The bare minimum of money that a financial institution, such a bank or credit union, must keep on…

Q: You are given the following information for a producer of organic grommets in a perfectly…

A: In economics, total revenue refers to the total amount of money earned by a firm from selling its…

Q: A deposit of $1500 is made into a fund on March 18. The fund earns simple interest at 5%. On August…

A: Introduction  Simple interest paid or received over a certain period is a fixed percentage of the…

Q: As part of Budget 2018, the Government of Canada introduced the Canada Workers Benefit (CWB) that…

A: As a part of budget 2018, the government of Canada introduced the Canada Workers Benefit (CWB). CWB…

Q: Use a consumer surplus approach, to explain the effect of demand elasticity on the excess burden…

A: Demand elasticity: The demand function reflects an individual’s willingness to pay for each unit of…

Q: The Augsburg math club paid $200 for fancy souvenir water bottles that they are going to sell next…

A: Profit is the difference between a firm's total revenue and total costs. It is the amount of money a…

Q: Endellion owns a small delivery company. He decides to hire an office assistant and buys her a…

A: Introduction In economics, the resources that individuals use to produce goods and services are…

Q: If you are a marketing specialist working for the cell phone company, refer to your answers from…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: The Fed decides to reduce inflation. Use the Phillips curve to show the short-run and long-run…

A: The short-run Phillips curve, like the production possibilities curve and the AD-AS model, may be…

Q: $ per unit $40 $20 2 4 6 8 10 MC 12 ATC MR AVC Output (q) The graph above shows a firm's Marginal…

A: In perfect competition,  There exists a large no. of buyers and sellers.  The firm will maximize…

Q: Refer to the figure below. Calculate the value of the price elasticity of supply between g and h and…

A: Price Elasticity of Supply measures the percentage change in quantity supplied of a good or service…

Q: In your view, what is the best solution to the housing crisis in places like NY and San Francisco?

A: The housing crisis in places like new york and San Francisco is a complex and multi-faceted problem…

Q: In this problem, we want to think about the difficulties that governments face in agreeing to…

A: China's utility function captures the phenomenon that reducing CO2 emissions can result in a…

Q: A young software genius is selling the rights to a new video game he has developed. Another…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…