State what market structure that currently exists in the UK’s housing market. Explain if excess profit will exist in the long run

Q: On the following graph, use the orange points (square symbol) to plot the portion of the firm's…

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Q: A pizzeria, which operates in a perfectly competitive hospitality market, can produce pizzas if it…

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

Q: A pizzeria, which operates in a perfectly competitive hospitality market, can produce pizzas if it…

A: Given; Cost of premise and oven= £10  Cost of ingredient= £3 per pizza Cost of worker= £40 per night…

Q: If economic rent in a particular resource market is zero, then we know that the market a. demand…

A: Economic rent It is the extra money or payment made over and above the expected amount by owner of…

Q: A pizzeria, which operates in a perfectly competitive hospitality market, can produce pizzas if it…

A: Given; Cost of premise and oven= £10 per night Cost of ingredient= £3 per pizza Workers= £40 per…

Q: 7. Fred's Factory 200 a'ne Fred' Factory sells in a perfectly competitive market. Fred's production…

A:

Q: Consider two companies (A and B) which produce good A and good B respectively. To produce A, one…

A: The elasticity of labor demand assesses how sensitive labor demand is to changes in pay rates.In…

Q: The local textile faces the faces the following supply curve for labor. Fill in the empty blanks.

A: Given: Wage (A) Units of labor (B) 4 10 5 11 6 12 7 13 8 14 Note: Due to multiple…

Q: Canadian rice producers use a combination of land and labour and try to minimise costs. If the…

A: The Canadian rice producers use a combination of land and labour and try to minimise costs. If the…

Q: fectly competitive labour market i) Identify the levels of wages that result in excess demand and…

A: Wage rate is referred to the remuneration that is received by the labor when they give factor…

Q: Suppose that the three-month forward rate on the dolar is $8.43 but you think that the spot price in…

A: Given, Forward rate = $8.43 Spot price = $8.20

Q: Complete the following table by selecting the term that matches each definition on the left. Assume…

A: A perfect competition refers to the market structure featuring a large number of sellers and buyers…

Q: Consider Live Happley Fields, a small player in the strawberry business whose production has no…

A: Production Schedule:

Q: The Levee Spa is a profit-maximing company wanting to hire workers up to the point where the market…

A: The situation which depicts many sellers selling products that are heterogeneous in nature to…

Q: What does the assumption of market clearing imply (Explain)

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

Q: Question Three Firm's Demand for Labour in the Short Run a) What are the two profit-maximizing…

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Q: RS Inc. sell a product for P2 per unit in a highly competitive market. The firm produces output…

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Q: Consider the following production chain for bread. Assume that a Farmer grows wheat, and sells this…

A: Value added is the difference in cost of a good or service when it moves from one stage to other.

Q: Place the orange line (square symbol) on the following graph to show the most likely short-run…

A: The Short-Run Supply curve for apricots is shown by the orange line.

Q: Explain the following statement: “Profits that more than cover the cost of capital are known as…

A: Profits are defined as the rewards paid to the producers for the efforts undertaken by them to…

Q: Briefly describe the significance of the system marginal price and explain why it varies with time.

A: The Variable Generation Cost of the most costly Generation Unit that would be sent to fulfill one…

Q: Tandy's Art is the only art studio and workshop in a small remote town, and Tandy’s Art is the only…

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

Q: Calculate the value of rent if operating surplus is $120 million, royalty is $31 million, interest…

A: The given information is as follows:- Operating surplus = $120 million Royalty = $31 million…

Q: Consider production function Q = K³L3 i. Find RTS ii. Is above production function homogenous?…

A: We will answer the first three subparts only. Please resubmit the question with any other parts…

Q: Using the bid rent function, explain why there is a big tendency for the conversion of agricultural…

A: The bid rent theory is a spatial economic theory that describes how real estate prices and demand…

Q: Consider a firm producing Smirnoff Mule which uses two inputs-machines and labor-to produce output…

A: The overall cost paid by a firm to create a given amount of a product or provide a service is…

Q: what is the amount of the total fix cost

A: Total cost (TC) = total fixed cost (TFC) + total variable cost (TVC)  Average total cost (ATC) = TC…

Q: Consider a profit-maximizing cotton candy firm that operates in a perfectly competitive output and…

A: The cross elasticity of demand for substitute merchandise/goods is consistently positive on the…

Q: Draw a long-run supply curve for a competitive market with identicalfirms, and describe its…

A: The long‐run market supply curve is found by examining the responsiveness of short‐run market supply…

Q: A pizzeria, which operates in a perfectly competitive hospitality market, can produce pizzas if it…

A: Given; Cost of premises and oven= £10 per night Cost of ingredient= £3 per pizza Cost of workers=…

Q: The table below represents the hourly output and cost structure for a local pizza shop. The market…

A: Marginal Cost is the cost of producing an additional unit of a product. Marginal Revenue is the…

Q: Look at the Data Below then answer/calculate the totals in the questions that follow. (Show…

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

Q: To maximize profit, a firm O A. uses the quantity of land at which the rental rate equals the value…

A: Marginal product is the change in total output produced by hiring an additional unit of worker.

Q: Amy wants to open a coffee shop and has already rented a coffee retail space on Bloor Street,…

A: Rent (r)= $900 per week  lease for three months The wage for baristas (w) = $16 per hour. Amy can…

Q: Mr. Stonewall has to set up a firm that produces calculators competing with the likes of Casio and…

A: The functional relationship between the factors of production (inputs) and output is shown by the…

Q: WHICH OF THE FOLLOWING CONCEPTS OF PROFIT TAKES INTO ACCOUNT THE OPPORTUNITY COST OF CAPITAL A.…

A: The basic formula to determine pofit is:  Profit=Total revenue-Total cost

Q: Suppose that you are one of rubber producers (sellers) in the perfectly competitive market in…

A: Worker cost is considered as variable cost because it changes as output output changes .  And we…

Q: Question 2. 1. Widget factory Inc. in Wisconsin has the following production function: F(L,K) = 2L/2…

A: Given production function :- F(L, K) = 2L1/2 K1/2 w = $30 r = $25 P = $50 K0 = 900 (fixed)   So the…

Q: The production function of a competitive firm is described by the equation y = 2x11/2 6x21/2. The…

A: We are going to find cost structure in terms of Q and then find Marginal Cost.

Q: Suppose the marginal product of the last worker employed by a firm is 40 units of output per day and…

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

Q: Widget factory Inc. in Wisconsin has the following production function: F(L,K)=2L  L represents the…

A: Given production function: F(L, K) = 2L1/2 K1/2 w = $30 r = $25 P = $50 K0 = 900 (fixed)   So, the…