What defines market equilibrium? How about market disequilibrium? What are the contrasting proposition regarding economic efficiency and equity?

Q: What role does the profit motive play in a market economy?

A: Profits are the factor payment to an organization. Profits are important for a business to run. If…

Q: If markets are efficient, is there anything to be gained by doing fundamental research? With which…

A: Fundamental research is also known as basic analysis of the given information to evaluate the…

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: 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: “How to allocate limited resources in an efficient way (as emphasized in an introductory economics…

A: limited resources - The term limited resources specifies that a country has limited amount of…

Q: Explain the disequilibrium in the market due to surplus situation? Also explain the surplus…

A: The equilibrium in a market occurs when the demand is equal to the supply of the good. When the…

Q: Define MARKET FACTORS?

A: In a market, when talking about market factors, they are the variables that has the potential to…

Q: Consider the market for hamburgers in an economy where the market equilibrium is characterized by a…

A: The equilibrium quantity and price of hamburgers is 50 million and $5 per unit respectively. Also,…

Q: There is constantly a shift in supply and demand curves and markets are never at equilibrium. As a…

A: Equilibrium is the state where market supply and demand balance one another, and therefore costs…

Q: Two of the most fundamental findings in welfare economics describe the relationship between markets…

A: Pareto efficiency, also known as Pareto optimality, is an economic condition in which resources…

Q: What is relationships between general competitive equilibrium, pareto efficiency and equity in an…

A: Pareto efficiency, or pareto optimality, is an economic state wherever resources can't be…

Q: why is competition good for the consumer from an economics perspective

A: We know that firms in a perfectly competitive market produce the socially optimum quantity of output…

Q: When we analyze the general equilibrium model, why do we ignore the equilibrium for the non-monetary…

A: The general equilibrium model is one of the models which is used for analyzing the economy as a…

Q: Name and describe the four types of markets and the challenges they pose with respect to setting…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

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: What are the necessary conditions for economic efficiency? In what four situations might a market…

A: Economic efficiency is achieved when an economy uses its resources for the production of goods and…

Q: Discuss the concept of homoeconomus with adequate examples. How does it help create an equilibrium…

A: The subject that includes the discussion about the allocation of scarce resources among all the…

Q: What is the difference between microeconomics and macroeconomics? What is comparative advantage?…

A: Economics is a study related to the production, distribution and finally the consumption of…

Q: In what sense is a competitive equilibrium a good or bad thing for a given economy?

A: When talking about competitive equilibrium, it is the situation in the market where many firms…

Q: Which of the following is not a typical characteristic of a market system? Multiple Choice a. profit…

A: A market economy refers to the type of economic system where demand and supply control the economy,…

Q: Consider a competitive market in which we can analyze the market using our standard demand and…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: Show on a single diagram, given a competitive market, an increase in demand will provide the…

A: Competitive market is the market with large number of buyers and sellers, selling homogeneous goods…

Q: In the basic supply-and-demand model, a buyer only purchases a good when?    if the price is lower…

A: The demand and supply model shows the relationship between the selling quantity of products and…

Q: What are the Indicators of market potential according to Economic factors?

A: The economic indicators measure the performance of various variables and thus make predictions about…

Q: When a competitive market is in equilibrium, the buyers are those with the __________ willingness to…

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

Q: True or false? Basic economic concepts can be used to understand the pricing of products.

A: Goods and services are produced by bring together various factors of production. These factors of…

Q: The average cost of landscaping services for members of a condominium community is $350 per week.…

A: The per-unit cost of production is derived by dividing the entire cost of production by the total…

Q: Competitive environment refers to the presence of in the market? Select one: a. market opportunity…

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

Q: When a market is competitive and functioning properly, economic theory predicts that the market…

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

Q: What are some markets (goods or services) where an equilibrium might not be the most desirable…

A: A free market refers to a market in which the demand and supply levels of goods determine their…

Q: What is the purpose of co-operative statics in economics? On which basis cooperative statics is…

A:

Q: Which way (if any) does the Supply Curve shift if there is a decrease in the number of sellers? If…

A: Why does supply curve shifts? Supply curve shifts when there are changes in production cost and…

Q: Show how could Market equilibrium be affected if the level of Technology is not used on effective…

A: Market equilibrium: Market equilibrium is an economic situation in which the the prices are quantity…

Q: In the capitalist economic system, the individuals through the forces of demand and supply interact…

A: In a capitalist economy, resources are owned and controlled by industrialist private owners. Though…

Q: Market mechanism in economics

A: When it comes to some private commodities, government intervention in the market process might…

Q: How does a market reach equilibrium without any outside intervention? Explain.

A: Equilibrium is the state of rest where there is no tendency to move further.

Q: Which of the following is true?

A: The tax revenue is the income of the government. The tax earned would result in the income for the…

Q: In a market economy, what is the central coordinating mechanism? How does a market economy solve the…

A: Hey, thank you for the questions but according to our policy we answer only one question per…

Q: Explain how a firm in a competitive market identifies the profit-maximizing level of production.…

A: A firm in a competitive market can identify the profit maximizing level of production at that level…