n the short run, a perfectly competitive firm can Select one: a. earn an economic profit. b. earn an economic profit, earn a normal profit, or incur an economic loss. c. earn a normal profit. d. incur an economic loss.
Q: A market structure with only one seller called Monopoly A market structure with few sellers called…
A: Thank You for the question. In the case of multiple sub-questions, we are required to answer only…
Q: Calculate what the federal funds rate should be using the Taylor Rule
A: Using Taylor's rule, when the equilibrium real federal funds rate is 2 percent, the positive output…
Q: 1. Discuss the limitations of the use of the Gross Domestic Product(GDP) as a measurement of…
A: Answer - GDP :- GDP is the total products and services produced in a country in a year
Q: Which UN organ has the primary authority to initiate action under R2P to protect civilians against…
A: The Responsibility to Protect, or R2P, is an international norm aimed at ensuring that genocide, war…
Q: Your pharmaceutical firm is seeking to open up new international markets by partnering with various…
A: The market price is the ongoing cost at which a resource or administration can be traded. The market…
Q: Discuss the reasons for 2008 Global Mortgage Crisis. Please limit your report to no more than 300…
A: Financial deregulation was the root cause of the financial crisis. This allowed banks to trade hedge…
Q: 4. Suppose that Okun's law can be described by the following equation: Y-Y = -3(u – u') %3D Y* Where…
A:
Q: 19. Odette has a base monthly salary of S1,500 and earns a 5% commission on all sales she makes at…
A: Odette's monthly base salary is $1500 The commission per sale =5% Last month salary = $7500 We have…
Q: In building their plant, the officers of the International Leather Company had the choice between…
A: Present value (PV), is the value of a normal still up in the air as of the date of valuation.
Q: Carl and Simon are two pumpkin growers who are the only sellers of pumpkins at the market. The…
A: Given:- Q=8400-800P MC=0.50 Here; Q=quantity of pumpkin P=Price of pumpkin Please find the image…
Q: a) The owners of firms in the real world would generally expect (in the long run at least) to have…
A: Let's first learn about economic profit. The difference between the revenue earned by the firm and…
Q: What is the total amount of interest paid to the bank over 4 years period if you borrowed $89886 to…
A: The information given is:- Amount borrowed = $89886 Monthly interest rate = 1% Tenure = 4 years We…
Q: Which of the following is not a condition that leads to a natural monopoly? Select the correct…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: How do you legally reduce labor surplus? Give an example for each.
A: Labour surplus Karl Marx employed the concept of surplus labour in his critique of economics and…
Q: Which of the four forms of industry competition have advertiking? Why is advertising experienced in…
A: The structure that depicts the classification and differentiation of industries based on nature and…
Q: Monopolies -- Questions 10-15 refer to Figure 5-1 below, Figure 6-1: The diagram below depicts the…
A: Monopoly is the form of market where only single seller sale the products . And production decision…
Q: What are your three choices for reducing the amount of time spent waiting in traffic? What…
A: as an rational consumer or human beings the use of resources we should prefer in efficient and…
Q: Refer to the above table. Between years 1 and 2, real GDP grew by __________ percent in Alta:…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: 7. a. State and explain Arrow's Impossibility Theorem and its implications for social choice. b.…
A:
Q: Discuss four (4) factors that affect an individual demand curve.
A: Demand is the quantity that a consumer is willing to buy at certain time and place . And demand…
Q: hink about getting into the business of selling computer parts and accessories. Which of the…
A: Sales: It refers to the transaction that takes place between two people. The buyer purchase the…
Q: PARAMETERS МEA 1 Investment Cost 1,500,000 Annual Service Benefit 200,000 Annual Insurance Benefit…
A: i'm assuming 10% as interest rate
Q: The figure below shows a consumer maximizing utility at two different prices (the left panel) and…
A: Answer: According to the above figure, the initial equilibrium is at point A where the quantity…
Q: Represent the following data by a suitable diagram: Items of Expenditure Family A (Income 500)…
A: Given Items of expenditure Family A (income 300) Family B (income 300) Food 150 150 Clothing…
Q: If you invest $7,000 at 10% per year, compounded continuously, how much would it be worth in five…
A:
Q: 4B. Which one(s) of the following functions v(x, y) = 2r°y – 100, w(x, y) = 3(x + y) + 120, t(x, y)…
A: Ordinal utility function has a same preference if Slope of both utility function same that means…
Q: the concept of Opportunity ost moving From D.t and B toC %3. D +10 ty of Butter Produced - AA A OFE…
A: *Answer:
Q: 3. Explain the following questions about The Beckmann Model Outline Beckmanns model of spatial…
A: The spatial monopoly model developed by Beckmann When it comes to the structure of the market,…
Q: 4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience,…
A: * SOLUTION :- (4) Given that , The X and Y frames are sold = (100-2x) Sold for each frame =…
Q: The relationship between the factors of production and the output of goods and services. O a.…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: PROBLEM-4: $200 million will be paid initially for a highway leased for 40 years. The highway will…
A: Given information Initial investment=$200 M Service cost=$2.5 M excluding year of maintenance and…
Q: Economics 3. Consider the following table that presents the labour requirements for production in…
A: Opportunity costs, the expenses and advantages of each and every choice accessible should be thought…
Q: PART 1 Which of the following is NOT a part of the Global Capital Market? a. The Eurocurrency…
A: A global capital market is the interlinking of various global investment exchanges for buying and…
Q: (1) If the demand for product Y increases significantly, then A- the demand for the labor used to…
A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…
Q: Process X is estimated to have a fixed cost of $35,000 per year and a variable cost of $60 per unit…
A: From the question, we get the following date Estimated fixed cost of Process X = $35,000 per year…
Q: The town council of Frostbite, Ontario, is trying to decide whether to build an outdoor skating rink…
A: Profits are maximised when marginal revenue equals marginal cost or when the difference between…
Q: Home's demand curve for wheat is D = 100 - 20P. Its supply curve is S= 20 + 20P. Derive and graph…
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…
Q: Rand's remarkable resilience inflicts pain on its doubters The rand seems to no longer follow the…
A: Exchange rate: The exchange rate of an economy is the rate at which the local currency's value is…
Q: 1. Assume you spend your entire incomc on two goods X & Y with prices given as Px & Py,…
A: Given function U=X2+Y2 Price of X=Px Price of Y=Py
Q: Are you concerned about the inflation come back due to such easy monetary policy with zero interest…
A: The pace at which prices keep rising over a certain amount of time is referred to as…
Q: How will the system promote progress?
A: market mechanism is a automatic system that operate on the basis of the behaviour of economics…
Q: Car Wash data Cars Washed Marginal Product of Labor (workers) VMPL Labor (cars per day) 1 11 2 23 3…
A: Marginal Product of labor means how much extra unit of output the new labor brings when he enters…
Q: Economics Supposes Monopharm wants to maximize profit, what quantity does it sell, what price does…
A:
Q: Show clear and detailed solutions
A: Inflation means the rise in the price level of goods and services over a period of time. It is the…
Q: Question 13 Refer to Figure 6-1 What are total costs for Dough!, given that it maximize profits?…
A: "A monopoly firm maximizes profit when marginal revenue (MR) intersects marginal cost (MC)."
Q: Monopolistic Competition Questions 16-20 refer to Figure 6-2 below. This figure depicts a situation…
A: Monopolistic competition is a kind of market structure in which there are several numbers of…
Q: A perfectly competitive firm has a long-run cost function, C(q) = 8q2 + 72. In the long run, this…
A: In case of Perfect Competition, there are large number of buyers and sellers. All firms sell…
Q: Assume an industry has 18 firms. Top two firms have the market share 10 percent each and rest of the…
A:
Q: The fact that your resume is attached/enclosed O Middle O Closing Beginning
A: The resume is the representation of a person's professional and personal details. It is basically a…
Q: The Production Function shows the relationship between O a. Input and Cost O b. Products and Cost c.…
A: The process of combination of inputs some being material and others non material for making a…
Step by step
Solved in 2 steps
- Since a perfectly competitive firm can sell as much as it wishes at the market price, why can the firm not simply increase its profits by selling an extremely high quantity?39) If a perfectly competitive firm operates in the short run but exits the industry in the long run, then the firm's short run condition isA) TR > TVC and TR < TC. B) TR > TC.C) TR < TVC. D) TR < TFC.Perfectly competitive firm that makes economic loses in the short run must cease its operations. do you agree? Expalin using illustrations
- At what point does a firm in a perfectly competitive industry shut down? Explain with graph.Lisa lawn company (LLC) is a lawn mowing business in a perfectly competitive market for lawn moving services. The following tables set out Lisa's costs Quantity(lawn per hour) Total Cost(dollars per lawn) 0 $30 1 $40 2 $55 3 $75 4 $100 5 $130 6 $165 A. If the market price is $30 per lawn, How many lawns per hour does Lisa's LLC now? B. If the market price is 30 per lawn, What is Lisa"s profit in the short run? C. if the market price falls to $20 per lawn, how many lawns per hour does Lisa's LLC now? D. if the market price falls to $20 per lawn, what is Lisa's profit in the short run? E. At What market price will Lisa shut down?The cost data in the following table are for Marshall’s Meats, a perfectly competitive firm. Round your answers to 2 decimal places. Output Average Variable Cost Average Total Cost Marginal Cost Total Cost 0 / / / $110 1 $ $ $ 140 2 160 3 190 4 224 5 280 6 342 7 458 a. Complete above the table. b. What is the shutdown price? Shutdown price: $ c. If the market price of the product is $56, what quantity will Marshall’s Meats produce? What will be its profit or loss?
- Q . Explain the concept of Super normal Profit, Normal Profit and Sub Normal Profit in perfect competition in short run and Long run.Galaxy is a firm in perfectly competitive market. Galaxy currently produces and sells 400 units of toys. Its total revenue is $4,000; the marginal cost of producing the last toy is $12; and the average total cost of producing the the last toy is $8. Is the Galaxy maximizing its profit, or should it increase or decrease output in order to increase its profit? Explain to get full credit.Need your help please, in understanding. The following thanks! The perfectly competitive firm's short-run shutdown rule is to shut down immediately ifa. TR < TC.b. TR < FC.c. TR < VC.d. TR < MC > Q. The difference between zero profit and zero economic profit is that a. economists include opportunity cost in zero economic profit, while accountants do not include opportunity cost in zero profit.b. economists do not include opportunity cost in zero economic profit, while accountants do include opportunity cost in zero profit.c. economists include opportunity cost in zero profit, while accountants do not include opportunity cost in zero economic profit.d. economists do not include opportunity cost in zero profit, while accountants do include opportunity cost in zero economic profit.
- Why is a firm in a perfectly competitive market called a price taker? Why do the price, MR and demand faced by a firm in such a market coincide? Explain. please don,t copy and paste from anywhere. Answer step by step and use graph if possiblea) How does imperfect competition differ from perfect competition? b) True or False and explain: If a firm in imperfect competition makes economic profit in the short run they can sustain it in the long run. c) True or False and explain: In imperfect competition all firms charge the same price.Question: In a perfectly competitive market, what is true about the long - run equilibrium? Options: A) Firms earn economic profits in the long run B) Price equals marginal cost for all firms C) There are significant barriers to entry for new firms D) Firms produce at the point where marginal revenue equals marginal cost Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
