Refer to the table above. If the market is perfectly competitive, the equilibrium price of calculators is: $6 $20 O $2 O $12 Refer to the table above. If the market is perfectly competitive, the equilibrium quantity of calculators is: 5 units 6 units 8 units 3 units
Q: D02
A: In an economy, GDP in a specific year can be increased or decreased due to the changes in the compon...
Q: 8:55 PM Assignment Print View c. When the total money supply decreases, there will be an adjustment ...
A: Sff1 - New supply of federal fund. Sff - supply of federal fund
Q: Make an analysis on how the new concept of global relations emerges from the experiences of Latin-Am...
A: We show that ,on December 11-14, 2016, Ernesto Tàlvi becàme interested in Làtin America Shadow Money...
Q: In a supply and demand model, excise taxes on goods and services cause deadweight loss because: O th...
A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers, ...
Q: Is it worth investing in a project that costs up to 600 million dollars across 11 years but is expec...
A: Discount rate refers to the rate or interest rate by which future values are discounted such that th...
Q: Problem 1. The following specifications are given for an economy: Consumption, C = 250 + 0.75 Yawher...
A:
Q: How does the new concept of global relations emerges from the experiences of Latin-American countrie...
A: Latin America is the part of the Americas made up of nations and areas where Romance languages (lang...
Q: Tomato Farms is selling tomatoes in a purely competitive market. Its output is 25,000 bushels, which...
A: Firms in perfect competition are price takers who maximizes profit by producing at P=MC
Q: Ray is an employee at COB company who likes having burger (x) and Pepsi (y) during the break and the...
A: Introduction Ray is in the employee of COB company which likes to having burger (x) and Pepsi (y) du...
Q: 8. Assume the economy is currently in equilibrium at its full-employment level of output, the money ...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: Suppose a company's revenue function is given by R(q)=−q3+400q2R(q)=-q3+400q2 and its cost function ...
A: Profit maximising condition where marginal cost is equal to marginal revenue And Equilibrium poin...
Q: Depreciation of the dollar will: decrease the prices of both U.S. imports and exports ...
A: Depreciation refers to decrease in the value of the currency in terms of foreign currency.
Q: Suppose that you're working to calculate a monopolist's profit-maximizing uniform price in a market ...
A: We will answer the first question since the exact one was not specified. Please submit a new questio...
Q: More latest brands of notebook computers are now available to consumers. Explain the effects on the ...
A: Market price refers to the price at which a good or service is sold in the market. The quantity whic...
Q: The following graph shows the demand (D) for cable services in the imaginary town of Utilityburg. Th...
A: In a given industry, many companies compete, although they all produce comparable but distinct produ...
Q: Theoretically, how would the rise in the value of the pound affect the current account of the UK
A: Answer: Introduction: The current account of the balance of payment: the current account includes im...
Q: The Global Macroeconomy While on a trip to Baja California, Mexico, in January 1994, Mary bought a h...
A: Macroeconomics (from the Greek word macro-, meaning "big") is a discipline of economics concerned wi...
Q: 3. Consider an economy with six product-producing sectors and one non-producing sector, described by...
A: Total Demand = 2W + 3G + 2D + 1T + 1 WO + 2H Where , W = widgets , G = Gizmoes , D = doohickies , ...
Q: e following table lists the utility that Steve receives from consuming oranges at $0.50 apiece. hat ...
A: Marginal utility refers to the change in the total utility when one additional unit of commodity is ...
Q: To increase the money supply, the central bank could: O A) raise the discount rate. O B) make open-m...
A: Money Supply: - In an economy, the total value of money in circulation at a point in time is known a...
Q: A legitimate price objection is a strong signal that the customer is seriously thinking about making...
A: The purchases of any goods by the consumers, depend upon the price of goods and services.
Q: What assumptions cause the immediate-short-run aggregate supply curve to be horizontal? Why is the l...
A: The short immediate-run aggregate supply curve is horizontal due to the assumption that both input a...
Q: Which of the following can expand a nation's production possibilities boundary (curve)? [select all...
A: The curve that depicts various quantities of goods and services that could be produced using the giv...
Q: Beginning about 1985, many developing countries, dissatisfied with the results of import-substitutio...
A: The nations around the globe are involved in the international trade with each other. The internatio...
Q: In the figure below, Sai is the long-run domestic supply curve of oil without considering the climat...
A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity d...
Q: 1 The Law of Diminishing Utility: For example, I consume too many apples. Until I eat the fifth one,...
A: Utility refers to the usefulness or satisfaction that a person derives or gets from the use or consu...
Q: If the consumption function in an economy as follows C = 50 + 0.75Y and the following variables fixe...
A: Given: Consumption function: C=50+0.75Y
Q: Answer the question on the basis of the following table for a particular country in which C is consu...
A: Real GDP = C + I + G + X - M Price Level C I G X M Real GDP 128 18 2 3 1 5 19 125 20 4 3 2 4 ...
Q: Assume the market interest rate is 8% per year and inflation averages 5% per year. calculate the per...
A: those type of items that have a limited life, their perpetual equivalent annual worth is essentiall...
Q: A market is modeled by the llowing đếmand supply fünctiöns! and Qs = 10P. If P=$5, determine if ther...
A: Qd=60-10PQS=10PP=$5
Q: Receive floating volatility during a Selected period a Pay foxed volatity during a Fixed volatility ...
A: Answer 5 b A volatility swap is refer to the forward contract with respect to the payoff that would ...
Q: How has the global economy changed?
A: A global economy is the result of economic interdependence between the world's most powerful countri...
Q: 28. Mr. Sanchez bought a machine costing 600000, it is believed to have a book value of P24500.65 at...
A: The formula for declining balance depreciation is as follows, Depreciation rate = 1 - (Salvage value...
Q: Determine which account of the Balance-of-Payments is affected the following transaction: National C...
A: The current account part of balance of payment records transactions of export and import of goods an...
Q: 1.Suppose that Chris's utility function is given by UC=QC1/2 RC1/2 , where QC and RC are his consump...
A: Answer -
Q: An import quota the domestic price of the imported good. mimics O always decreases always increases ...
A: Import Quota is the limit which is put on the quantity of the good in a given time period that can b...
Q: The table below shows money demand and supply schedules for a hypothetical economy, Argentia. Nomina...
A: Answer: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the questi...
Q: Describe three [3] World Trade Organisation (WTO’s) principles in global supply chains
A: The World Trade Organization (WTO) is an international organisation that administers international t...
Q: Write the dual of the following LPP: Махіmise Z3 30х, + 40х, 20x1 + 30x, < 16 5x1 + 2x, 2 20 X1, X2 ...
A: Answer is given in the picture:
Q: 4. (a) International trade makes all the consumers, the producers and the country better off. Why or...
A: Labor force refers to the sum of all the workers in a country at any point of time. It is the sum of...
Q: Marie's marginal utility for playing one more game of Dance Dance Revolution at the arcade is 10 uti...
A: Given, Marginal utility from an additional game of dance revolution = 10 utils Marginal utility from...
Q: 11. A tariff on imports benefits domestic producers of the imported good because A. They get the tar...
A: Economic externalities are the extra costs or benefits that occur to a third party that is not a par...
Q: How does the United States compare to othernations in the area of health care?
A: Despite spending much more on healthcare than developed economies, the United States has poorer heal...
Q: Which of the following cannot be considered as one of the challenges to assess the market potential ...
A: An emerging market (also known as an emerging country or an emerging economy) is a market that resem...
Q: For the demand function q = D(p)%3D 288- p, find the following. a) The elasticity b) The elasticity ...
A: Answer: Given, Demand function: q=Dp=288-p=288-p12 (a). Let us first find the slope of the demand fu...
Q: All of the following are examples of the failures resulting directly from variations of pegged rate ...
A: A pegged exchange rate, sometimes known as a fixed exchange rate, is a currency system in which a co...
Q: Will countries be better off under a multilateral economic liberalization regime or under a system o...
A: We show that Countries will be better off under the regional economic integràtion plan. Realconsolid...
Q: Other things equal, the extent of foreign investment depends on relative expected returns. In order ...
A: The rate that depicts the rate in which the value of currencies is measured in terms of another curr...
Q: In Modules 3 and 4 we explained how consumers and businesses are better able to adjust purchases and...
A: Short run is the time period where at least one of the factors of production remains fixed. For eg. ...
Q: 11. A tariff on imports benefits domestic producers of the imported good because A. They get the tar...
A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only ...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Suppose the market for fresh pork is a competitive market. Initially, it is operatingat its long-run competitive equilibrium at a market price of $50.Owing to the spread of COVID-19, many people turn to buying frozen meat oncea week rather than fresh pork every day. As a result, the market price of fresh porkreduces to $30.a. With the aid of a pair of market-and-firm diagrams, illustrate how thiswould affect the equilibrium price and quantity in the fresh pork market andthe output of a typical butcher of fresh pork in the short-run.b. Suppose, for the situation in (a), the average cost of a typical butcher offresh pork is $40, which includes $15 on buying meat from suppliers, $12on paying rent, $8 on paying hourly wages on staff, and $5 on other costs.Explain whether a typical butcher should shut down in the short run.4 The market for Blu-ray movies is perfectly competitive, with the market supply curve given by O = 15P and the market demand curve given by Q = 400 - 10P. The resulting market equilibrium is P* = 16, Q*=240. (a) Calculate the price elasticity of demand at the market equilibrium. Is demand elastic or inelastic at this point, and what does this mean? (b) Suppose that supply increases so that producers are willing to sell 10 more Blu-rays at any price, and at the same time demand decreases so that consumers are willing to purchase 40 fewer Blu-rays at any price. Find the new equilibrium price and quantity.Microsoft is the only business that sells Computer Operation System in the world. Assuming that Microsoft is maximizing its profit, which of the following statements is true? Select one : O a. Microsoft prices will be less than marginal cost. O b. Microsott prices will equal marginal cost. O c. Microsoft prices wil be a function of supply and demand and will therefore oscillate around marginal costs. O d. Microsoft prices will be higher than marginal cost.
- Consider any market where the Supply Curve is given by O = 25 + 0.2P and the Demand curve is given by 500-0.3P Ask: a) Calculate prices and equilibrium quantity of this market b) Consider that this market operates with prices equal to 900.00. What's happening? c) Regarding the result found in (b), consider the impacts of a change in the supply curve to O = 50+0.2P. Discuss the results and plot the fit graphs on the supply curves.6. Individual and market supply Suppose that Andrew and Beth are the only suppliers of ice cream cones in a particular market. The following table shows their monthly supply schedules: On the following graph, plot Andrew's supply of ice cream cones using the green points (triangle symbol). Next, plot Beth's supply of ice cream cones using the purple points (diamond symbol). Finally, plot the market supply of ice cream cones using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right.4. Suppose that each firm in a competitive industry has the following costs: Total cost: TC = 50 +1/2q^2Marginal cost: MC = q; where q is an individual firm’s quantity produced. The market demand curve for this product is Demand: Demand: QD = 120 − P, where P is the price and Q is the total quantity of the good in the market. Currently, there are 9firms in the market. In each following question, please explain how you find the answer!4.1 What is the equilibrium price and quantity for this market in the short run?
- Suppose the market for pizza is a perfectly competitive market—that is, sellers take the market price as given. Alex owns a restaurant where he sells pizza. The following graph shows Alex's weekly supply curve, represented by the orange line. Point A represents a point along his supply curve. The price of pizza is $3.00 per slice, as shown by the horizontal black line. From the previous graph, you can tell that Alex is willing to supply his 8th slice of pizza for____each week. Since he receives $3.00 per slice, the producer surplus he gains from supplying the 8th slice of pizza is___. Suppose the price of pizza were to rise to $3.75 per slice. At this higher price, Alex would receive a producer surplus of____from the 8th slice of pizza he sells. The following graph shows the weekly market supply of pizza in a small economy. Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of pizza is $3.00 per slice. Then, use the…In mid-2010, Saudi Arabia and Venezuela (both members of OPEC)produced an average of 8 million and 3 million barrels of oil a day,respectively. Production costs were about $20 per barrel, and the price ofoil averaged $80 per barrel. Each country had the capacity to producean extra 1 million barrels per day. At that time, it was estimated that each1-million-barrel increase in supply would depress the average price of oilby $10.a. Fill in the missing profit entries in the payoff table.b. What actions should each country take and why?Venezuela3 M barrels 4 M barrels8 M barrels _____, _____ _____, _____ Saudi Arabia9 M barrels _____, _____ _____, _____c10GameTheoryandCompetitiveStrategy.qxd 9/29/11 1:33 PM Page 430Summary 431c. Does the asymmetry in the countries’ sizes cause them to take differentattitudes toward expanding output? Explain why or why not. Commenton whether or not a prisoner’s dilemma is present.Milky Moo and Mega Cow are the only sellers of milk. Milky Moo's supply function isQsMMoo = 12P - 6 at prices above $0.50 and zero at prices below $0.50. Mega Cow's supply function is QsMCow = 9P - 3 at prices above $0.33 and zero at prices below $0.33. At a price of $2.00: Question 15 options: the market supply of milk is 33 units. the market supply of milk is 15 units. the market supply of milk is 18 units. the market supply of milk is 42 units. Question 16 (1 point)
- please show work Suppose there is a decrease in the hourly wages of farm workers in Ontario who harvest blueberries. This Select one: O A. shifts the supply curve of blueberries rightward. B. shifts the demand curve for blueberries rightward . O C. shifts the demand curve for blueberries leftward. O D. shifts the supply curve of blueberries leftward. O E. decreases the quantity supplied of blueberries.Which of the following is true about competitive equilibria in environments where the conditions of the first welfare theorem are satisfied? O a. We have to be able to represent the demand side of the economy by a representative consumer. O b. Consumer surplus is smaller than what would be estimated if it were measured on the market demand curve when goods are normal. O c. Producer surplus is zero in the long run when all firms share the same technology. O d. (a) and (b) are true O e. (b) and (c) are true. Of. (a) and (c) are true. O g. All of the above. O h. None of the above.(Last Word) Starbucks should continue to add stores in a city Multiple Choice a. as long as the marginal benefit of opening a new location does not fall below the marginal cost. b. as long as the marginal cost of opening a new location does not fall below the marginal benefit. c. until all remaining competing coffee stores have left the market. d. as long as the gap between marginal benefits and marginal costs is growing.