Show how could Market equilibrium be affected if the level of Technology is not used on effective way while the number of Consumers increased, ( the effect of Technology is higher than the other factor ) Enter your Answer

Q: he diagram below represents the market for battery packs. Suppose there currently is a…

A: The equilibrium is established where the demand and supply are equal.

Q: Explain equilibrium. Be specific and provide at least one example.

A: In a market, a household enters and makes a demand for commodities at a different price level.…

Q: Food prices in sports stadiums are notoriously high because there is a limit on the number of…

A: In the presence of perfect competition, an increase in the limit of firms can operate leads to an…

Q: Consider the market for coffee.  If more firms enter into that market then   Question 17 options:…

A: As more firms enter the coffee market, the number demanded at a given cost for a specific firm will…

Q: Explain why each of the following statements is True, False, or Uncertain according to economic…

A: Answer in step 2. Note . Please post second part separately. Thankyou

Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then…

A: Profit Maximization level: The level of production that maximizes the profit of the firm or the…

Q: Hamad is a biochemistry student who is considering taking an extra course in French. An incentive…

A: The individual is doing the course in Bio-chemistry and the individual is taking an exam additional…

Q: An improvement in production technology will:   Multiple Choice   increase equilibrium price.…

A: The supply curve very reactive with the factors of production, the greater cost of factors of…

Q: In which of the following situations could the competitive market not be Pareto efficient? Select…

A: Answer - "Thank you for submitting the question.But, we are authorized to solve only 3 sub…

Q: Dear tutor, please solve these True/False Questions. Thank You! Can it be efficient for one trader…

A: 1. False Reason It isn't workable for a merchant to have a relative benefit in all merchandise.…

Q: Show that when all consumers and producers are price takers, a competitive equilibrium is always…

A: Pareto optimal or Pareto efficient refers to a condition in which no modification can better…

Q: The market mechanism that yields an efficient outcome tries on all of the following actions EXCEPT…

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Q: When the cost of production decreases and all other factors remain the same , then if we have a…

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Q: Multiple choice - microeconomics 43) What will entry into a market by new firms do?  A. It will…

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

Q: Allocative Efficiency associated with competitive equilibrium is a condition where Producer plus…

A: In a competitive equilibrium producers and consumers freely determine the equilibrium price and at…

Q: People scalping tickets for the Super Bowl will be successful at selling the tickets for a profit…

A: Please find the answer below.   SCALPING: Scalping is a trading strategy geared towards profiting…

Q: Which of the following characterizes a competitive equilibrium? Markets are rationed. Economic…

A: Competitive equilibrium: Competitive equilibrium is an economic condition where the producers having…

Q: Fill in the blanks When competitive markets are freely allowed to come to equilibrium,. achieved. is

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Q: With regard to demand and Supply, explain the point of Market Equilibrium

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Q: The First Theorem of Welfare Economics (that a competitive equilibrium is Pareto efficient) may not…

A: The first theorem of welfare economics is otherwise known as the fundamental theorem and also known…

Q: Please provide answers no need long explanation just a simple one. Scenario: Consider the market…

A: Inferior Good concept An inferior good in economics is one whose demand falls as consumer income…

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Q: Q1. Suppose perfect competition prevails in the market for hotel rooms. The current market…

A: Maximization of net benefits is when marginal cost equals marginal revenue.

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A: Answer: Correct option: option B Explanation: Willingness to pay refers to the maximum price a buyer…

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A: It is given that equilibrium quantity is 25 units in a market.

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A: The competitive environment is defined as the external system in which a business competes with its…

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A: Answer: Perfectly competitive market: in a perfectly competitive market there are a large number of…

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A: Supply curve is upward sloping showing a relationship between price and quantity supplied.

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A: Market equilibrium is attained when demand in market is equal to the supply in market. The…

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A: Answer -   Public Goods :- Public goods are those goods that can not be exhausted by the usage and…

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A: Relative price is calculated as the ratio of the price of a good to the price of another good or as…

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A: The intersection of demand and supply curve creates the equilibrium in the market which sets the…

Q: Classifying a good as rival means   A. that the good is produced in a competitive market.   B.…

A: The answer to the question is as follows :

Q: Thinking on the margin can be correctly described as a _____. A. process that helps maximize total…

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A: The market demand curve shows the negative relationship between price of the good and its quantity…

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Q: What determines the extent of competition in a market? How much the price decreases as more firms…

A: In a market, the extent of competition is determined by the entry and exit.

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A: Equilibrium in the market occurs at the intersection of demand and supply curves. Price of $2 is the…

Q: As opposed to general equilibrium analysis, partial equilibrium analysis looksa) at an equilibrium…

A: In economics, the equilibrium refers to state of unchanged economic behavior and maximum benefit…

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A: We have damage on grape crop which is an important ingredient of wine.

Imperfect Competition

Imperfect competition is relatively easier to understand once people have the knowledge of perfect competition. When the five conditions of perfect competition are not made, that market structure is said to be imperfect competition.