What is a public good? What are its two defining characteristics? Provide an example.

Q: discuss two methods that the government may use to intervene in the market to eliminate the market…

A: The market that does not tend to succeed in incorporating all information that is available into a…

Q: If the price of petrol increases by 4% and the demand for petrol falls by 1%, what is the price…

A: Price elasticity of demand measures the responsiveness of quantity demanded with respect to change…

Q: Individual Problems 14-6 At a student café, there are equal numbers of two types of customers with…

A: Price discrimination is the act of charging different prices for the same good or service based on…

Q: monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue…

A: Monopolist is a single firm in the market and has market power to charge price greater than marginal…

Q: Contrast the appropriate Keynesian response to an economy experiencing recession with the…

A: Keynesian believes that the economy is not at full employment in an economy during the different…

Q: I. Nominal GDP and Nominal GDP per capita can best measure the quality of living and standard of…

A: The measure that depicts the final value of goods and services that are being produced in an economy…

Q: ($) ($) ($) ($) ($) $60 $6.50 $108 $6.50 $6.50 $144 $6.50 $168 $6.50 $180 $6.50 $180 $6.50 $168…

A: Here, P = price R = revenue  TR = Total revenue  MR = marginal revenue  MC = marginal cost TC =…

Q: Assume a government starts with zero debt. This government then runs an annual deficit for 28 years…

A: The financial liabilities of the government sector are referred to as gross government debt (also…

Q: Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells…

A: Monopolistic competition refers to the market organization in which there are many sellers of a…

Q: 5) ) Use a MARR of 10%, useful life of 5 years and the Present Worth method to select between the…

A: Answer; 5)     Present Worth of Alternative A:…

Q: What are some of the difficulties and issues that consumers have while using a system that is not…

A: Being able to provide excellent customer service is a competitive advantage. The bottom line is that…

Q: If this is a nontrading (closed) economy, the price of a TV will be: $75. $125. $175. $225. $275.

A: A closed economy is one in which no trade is conducted with other countries. As a result, the closed…

Q: A social welfare function is thought to be additive along the lines proposed by Bentham and Mill: W…

A: Given  Social welfare function: W=U1+U2+....Un          ... (1) There are two individuals in the…

Q: (a) Inflation and the rising cost of living are currently a big problem. Suppose that the prices of…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: Use a real-life example of a social influencer helping create

A:

Q: A student needs P4000 per year for 4 years to attend college. Her father invested P5000 in a 7%…

A: Both the answers are given below

Q: In a Solow growth model with population growth but no technological progress, suppose that y = k-/3…

A: Steady state is reached where investment is breakeven investment. There is no change in capital per…

Q: Bright Lights Company merges with its supplier, LED Pro Parts, in an effort to have a constant…

A: Vertical merger: It is a merger between two or more firms that operates in the same industry but at…

Q: 2) Suppose you own a car worth $20,000. You have accident insurance, but your policy does not cover…

A: As the player is risk neutral his utility function would be possibly of the form : U(w) = W  Car's…

Q: (Q#1) A family finds itself experiencing a rash of unexpected medical |problems that prove costly…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: A) Using demand and supply diagram, describe and discuss positive externality in production of a…

A: Positive externality of production refers to a case where the third party enjoys the spillover…

Q: Explain the role of the classical dichotomy in modern thinking about the neutrality of money. Make…

A: In macroeconomics, the classical dichotomy is that the plan, attributed to classical and…

Q: 1- Explain briefly perfect market cond:

A: There are four types of market structures in economics: (1) perfect competition, (2) pure monopoly,…

Q: Which of the following is not an argument by those who oppose tax-law changes to encourage saving? O…

A: There are some individuals who are opposed to the view that tax-law changes are beneficial for…

Q: Suppose an unvaccinated man Tom would get $10 of private benefit out of a flu shot. The flu shot…

A: Herd immunity from flu shot is an example of positive externality where third party gets the benefit…

Q: 9. Of the duopoly models that we studied, industry profits are highest in happiest in and consumers…

A: There are different types of models in the duopoly marke, such as Bertrand model, stackelberg model,…

Q: Ron Go to Bed Adventure Go to Bed 40, 40 10, 20 Adventure 20, 10 60, 60 Harry and Ron were forced to…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: (b) You are playing the following game. A coin is tossed. The two possible outcomes are heads and…

A: Probability refers to the value of the number of times that a particular outcome from an event such…

Q: If a 10% change in price results in a 19.95% change in quantity supplied. then the price elasticity…

A: Elasticity of supply refers to the calculation of relative change in the quantity supplied of a good…

Q: Why would it be difficult for new firms to enter the German Milk market (oligopolistic market).…

A: Germany produces the majority of Europe's milk. In contrast to neighboring northern EU nations,…

Q: You borrow money from a bank to invest in the stock market. The mean return of your portfolio (X) is…

A: * SOLUTION :-    (2)

Q: 3. Suppose that the industry is a constant cost industry and entry and exit of firms are allowed.…

A: Given  LC=1300q3-0.2q2+4q          ... (1) The most efficient plant size of a firm in long run is…

Q: Cell phones have become an essential part of our everyday lives. We use them for communication,…

A:

Q: What is meant by the full employment or the natural rate of unemployment? Which type of unemployment…

A: In an economy, unemployment refers to the situation when labor supplied exceeds labor demand in the…

Q: According to efficiency wage theory, what is NOT a reason that companies want to pay an efficiency…

A: Efficiency wage theory says that firms pay workers above competitive wage.

Q: The following events shift either aggregate demand, aggregate supply, both or neither. Using a…

A: Disclaimer :- as per guidelines you posted multipart questions therefore we are supposed to solve…

Q: 1 Sonic Enter Stay Out Dairy Queen (1000, 8000) High Prices, Low Prices (3000, 5000) (-1000, 4000)…

A: When dairy queen enters the business, there is no rival for it.

Q: Consider a Solow economy that is on its balanced growth path. Assume for simplicity that there is no…

A: * SOLUTION :-  (1) The objective is to understand effect of population growth decline in case of a…

Q: A manufacturer has $600 to spend on the production of a certain product and knows that if "x" units…

A:

Q: Assume a government starts with zero debt. This government then runs an annual deficit for 28 years…

A: The financial liabilities of the government sector are referred to as gross government debt (also…

Q: Outline Maintenance Implementation Strategies for the following: 1.Management roles 2.Engineer…

A: Strategy implementation is the process of applying plans into action to achieve the desired…

Q: government budget shows a primary deficit of 8200 the revenue expenditure on interest payment is 100…

A: Literally in the exact word we can say that the fiscal deficit is known to be as the amount or the…

Q: The table below provides the average annual growth rates (%) in Nominal GDP, Real GDP, Real GDP per…

A: GDP measures the market value of final goods and services produced by an economy during a given…

Q: Are the Aboriginal people important in China and Australia government operations?

A: The link to family, community, and country is important to Aboriginal culture.The concept of "being…

Q: What is the relationship between revenue cost and profit?

A:

Q: Spot exchange rates 1-year Forward Rates Contract size $ 1.00 Rs. 100 $ 1.00 Rs. 120 Rs. 12,500,000…

A: Exchange rate risk refers to the risk that a company's operations and profitability may be affected…

Q: 3. Using aggregate demand and aggregate supply analysis, show the effects of the following (Assume…

A: PLEASE  FIND THE ANSWER BELOW.   AGGREGATE DEMAND: Aggregate demand is a measurement of the total…

Q: As per the World Bank, Philippine Real GDP (constant 2015 prices) was at around 396,220,000,000 USD…

A: "GDP deflator for any year is obtained by multiplying 100 by the ratio of nominal GDP of that year…

Q: Indicate whether each of the following questions applies to Microeconomics or Macroeconomics Is the…

A: Micro economics deals with economic problems at the micro level. Individuals good, factor price ,…

Q: Given the following: C = 150 + 0.25Y4 = 150 + 0.25(Y – T) I = 300 G = 450 T = 250 Solve for the…

A: "In macroeconomics, closed economy-equilibrium will occur at a point where total output (Y) equates…