M/c question - Micro 29) What is a characteristic of a perfectly competitive market?  A. Goods offered for sale are largely the same  B. There are not many sellers in the market  C. Firms have difficulty entering the market  D. Firms are price setters

Q: Based on the graph answer the question below Price P2 M. P1 K Q, Q3 Quantity If the price rises from...

A: "Producer surplus is indicates by the area above the supply curve and below the market price."

Q: Alizeh and Kelly were traveling together and have gotten stranded at an airport overnight. They have...

A: When we produce the commodities and services that people value the most, we have an efficient use of...

Q: In your own words, explain What is Globalization

A: Globalization As a result of cross-border commerce in goods and services, technologies, and investme...

Q: We want to model the oil markets of the 19th century. And let the inverse demand for oil be P = 300 ...

A: In the monopsony market only one buyer and one seller. In this market optimal condition be determine...

Q: The price elasticity of demand for a product is estimated to be -2.3. At the initial price of $20, t...

A: Elasticity of demand measures the quantitative change in the demand in response to change in the pri...

Q: 17) What does a firm that exits its market still have to pay? A. its fixed costs B. it...

A: Market   A market basically refers to a place where different sellers and consumer comes in contact ...

Q: What would be the rational for Product customisation impact on revenue and profitability

A: People expect companies to personalize their products and services to their individual needs in the ...

Q: With the provision of a public good: A) Everyone who uses the good benefits from it in proportion t...

A: As the name suggests, Public goods are those goods made available by the government for the benefit ...

Q: what is the best example of negative integration and positive integration?

A: Economic integration:-  Economic integration is a treaty among nations that typically means the elim...

Q: 4. If there is a surplus of video games, what needs to happen to the price for the market to reach e...

A:   Price Qua100ntity Deman90ded Quantity Supplied 100 100 1100 90 200 1000 80 300 900 70 4...

Q: The supply and demand curves for a product are given by the following equations: P = aQs + b and P= ...

A: Given information Demand function P=cQd+d Supply function P=aQs+b new demand function Q=1520-5P P=18...

Q: The sugar market has a supply curve with formula: Ps = 2 + 0.1Qs, and demand cuve: Pd 55- %3D 0.32Qd...

A: The elasticity of demand is the responsiveness of the quantity demanded due to changes in price.

Q: A given change in taxes shifts the aggregate demand curve by than an equal change in government spen...

A: We know that the Government Spending Multiplier = 11- MPC and the Tax Multiplier = MPC1 - MPC

Q: True, False, or Uncertain   A central bank that increases the money supply in its economy has more...

A: There tends to exist an inverse relationship between the interest rate of the market and liquidity l...

Q: If you are asked to perform an incremental ROR analysis for the two robots listed below, how would y...

A: The analysis of financial return where there are two opportunities for investment that involve diffe...

Q: How do preferences on the available vaccine for COVID19 affect or contribute to microeconomics? Plea...

A: The word "Micro" means "Small" and "Economics" is the subject matter that deals with the economical ...

Q: Analyze whether the following statements based on the 3 components in deriving the AS curve are true...

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...

Q: Which best describes producer surplus? O a. The profits made by a firm O b. The difference between t...

A: "As per the guidelines answer is provide to the first question":  "Producer surplus indicates the di...

Q: 4. Consider the following strategic environment involving a firm manager (Manager) and two workers (...

A: Given,  One ManagerTwo Players : Worker 1 and Worker 2Both Workers have the same strategies : Work h...

Q: In games with a Prisoners' Dilemma structure, we are often able to show cooperation emerging where t...

A: Prisoner's dilemma is a condition particular decision-makers always have an incentive of choosing in...

Q: Discuss whether there is a conflict between economic growth,price stability and full employment

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: The simple linear regression model in the exhibit 2 data shows that, Both the intercept and the IDV ...

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: Refer to Figure 8-6. If the tax is imposed on the buyer, what price would the sellers receive for th...

A: The equilibrium in a market occurs at the point of intersection of the demand and the supply curves....

Q: More and more global business firms are becoming stateless corporations. Do you think this may benef...

A: Multinational corporations conduct business in at least two countries. A multinational corporation i...

Q: 33) In a competitive market that is characterized by free entry and exit, what will be the result? ...

A: The market where there tend to exist many producers that tend to compete in order to provide consume...

Q: Construct a set of contingency questions for usein a self-administered questionnaire that wouldsolic...

A: Contingency Questions are the questions, which depends on a particular response to the previous ques...

Q: An economy with competitive markets has 2 kinds of jobs, Routine & Skilled. There are 2 types of wor...

A: Option B is the correct Answer

Q: Mike’s utility function is U(x,y) = x0.25y0.25, The price of good x is 2 and the price of good y is ...

A: We know that at the optimal MRS = Price Ratio so we will use that here. MRS = (MUx)/(MUy) MUx = 0.25...

Q: 1. Assume that Canada is an importer of televisions and that there are no trade restrictions. Canadi...

A: In economics, consumer surplus is the difference between the price a consumer pays for an item and t...

Q: React to the statement below: “The glory of globalization could also be its downfall.”

A: Globalization refers to the process of integration of the economies of world. This integration invol...

Q: Charles consumes only beer (x) and wine (y). His preferences can be represented by the following uti...

A: Given; Utility function; U=2xy Price of beer; px=2 Price of wine; py=2 a) Marginal rate of substitut...

Q: Consider the following data for an economy last year: Total population 383.52 million Part-time work...

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: he demand (downward sloping line) and marginal cost (upward sioping curve) of a monopolist are shown...

A: From the graph, we can write, when Q=8, P=0 and Q=0, P=8 So the equation of demand function: P=8-Q  ...

Q: The U.S. Energy Information Administration (USs EIA) reported that the average price for a gallon of...

A: since you have asked multiple questions and according to policy we can solve only 1 question and for...

Q: As the size of the firm increases, the average monthly cost (y) of office supplies is related to the...

A:

Q: In experiments in which participants voluntarily contribute to the provision of a public good, we of...

A: The propensity for freeriding behaviour is larger in the context of an uniform tax burden for all pa...

Q: Say you were interested in maximizing U = U(x,y) with the usual budget constraint, M = Px*x+Py*Y. Ex...

A: Given,  Utility function : U=U(x, y)Budget Constraint : M=Px*x+Py*y

Q: Let us denote John's daily hours of work by H, and his hours of leisure by N = 24 - H. Suppose that ...

A: a) Wage rate = $30   This is the opportunity cost of not working. which means if Johns chooses not t...

Q: Meaning of Public-Private Partnership and its purpose.

A: Public Private Partnership means an enterprise in which a project or service is financed and operate...

Q: Elya's construction company is charged 150 pesos per ton for hauling its raw materials by ABC trucki...

A: Given that; Elya's construction company is charged 150 pesos per ton for hauling its raw materials b...

Q: Given the demand and supply functions, determine consumer's surplus under perfect competition: Pa = ...

A: "Consumer surplus indicates the difference between the maximum price which a consumer is willing to ...

Q: Two states, A and B, have signed an arms-control agreement. This agreement commits them to refrain f...

A: The Tit-for-Tat Strategy is defined as a strategy which states that if a player cooperates with anot...

Q: What annual interest rate is earned by a 16-week T-bill with a maturity value of $2,400 that sells f...

A: Please find the answer below.

Q: 2. Cloneville is a town consisting on 100,000 identical citizens. Each citizen has a current total w...

A: Number of citizens =100,000  Utility function for each citizen : U(w) = w1/2 Actuarily fair premium ...

Q: (2) Consider the utility function u(z,y) := ry for all nonnegative z and y. Given the budget constra...

A: Utility function : U = x1/3y2/3 Budget Constraint : px*x + py*y = m  Optimal consumption point is ac...

Q: 1. What are the benefits and consequences of implementing tariffs?

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Let us de te Jonn s dally nours of nu his H. SuppoSe thất only source of income is wages for hours w...

A: John's working hours is denoted by H and leisure is denoted by N . The equation of work and leisure ...

Q: 3. In 1986, the CPI stood at 109.6 while in 2016 it stood at 240.0. In 1986, a new Toyota Corolla LE...

A: Consumer price index is the weighted sum of a consumption basket used to gauge inflation rate in the...

Q: A consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The c...

A:

Q: Does Design & build or Management Procurement methods or strategies can improve the system of tradit...

A: Introduction Tradition approach also help in developing new approach because as time goes on traditi...