What is the main feature of a perfect competitive market.

Q: Explain the advantages and disadvantages of using econometrics, surveys, laboratory experiments, and...

A: Answer:

Q: With an Adjustable Rate Mortgage (ARM), the interest rate paid over the life of the loan will. O inc...

A: Adjustable Rate Mortgage A house loan with a variable interest rate is known as an adjustable-rate m...

Q: In the Grossman model, the marginal efficiency of investment in health care declines as health impro...

A:

Q: b.) Governments are aware of the impact of Imports on their economy bu because they also want their ...

A: Six instrument of trade protection:- 1) Tariff:- Tariffs are among the earliest known instruments us...

Q: c) All governments have the purposes of establishing laws, providing order and security, protecting ...

A: As different products are manufactured, cost is initiated and process of business follow ups. Busine...

Q: In the Heckscher Ohlin two good (food and cloth), two factor (capital and labour) model suppose that...

A: We use c as suffix to denote cloth and f as suffix to denote food. a. The capital constraint is  Kc+...

Q: Q)If the economy is in a steady state, then A. both consumption per worker and capital per worker a...

A: A steady state of economy is defined as an equilibrium between production growth and population grow...

Q: 4. In inventory control, the time which elapse between placing an order and the arrival of the inven...

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

Q: The table shows the price and quantity demanded for coffee mugs. Using the Midpoint Method, what is ...

A: Point Price  Quantity  D P1=26 Q1=9400 E P2=28 Q2=9200 Price elasticity of demand (Mid point ...

Q: A firm increases the price of a good from £4 to £5. As a result the quantity demanded falls from 200...

A: Price Elasticity of Demand is given by: {Percentage change in quantity demanded/percentage change in...

Q: Two people trade two goods that they cannot produce. Suppose that one Mary's indifference curves are...

A: Assume the two goods are good X and good Y. Let Joe's origin be on the northeast corner of the Edgew...

Q: Unit labour requirements: cloth tractors Home 200 400 Foreign 120 60 Use the information in the tabl...

A: Opportunity cost refers to decrease in production of one good needed to produce more of other good.

Q: Consider the household production model. An individual produces some of their meals using precooked ...

A: We know that demand for a good is influenced by several factors, which together are called Determina...

Q: What is positive supply shock? What are the few examples to positive supply shocks? What is the impa...

A: A supply shock refers to the changes in aggregate supply in the economy.

Q: a. As the price of tickets rises from $200 to $250, what is the price elasticity of demand for (i) b...

A: Let we have concider given that price elasticity of demand for the buissness traveller and vocatione...

Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. If the central bank...

A: Open market operation refers to the selling and buying of government bonds by the central bank.  

Q: Now consider the economy in the steady state: The steady state is defined as a point in the long run...

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If y...

Q: 1. A passenger train was bought at Php 36000000 and will incur 1500000 of annual operation and maint...

A: Given,  First Cost : Php 36000000Total n = 20Operating Cost for first 5 years : 1500000Operating Cos...

Q: medium of exchange, the ability to buy goods and services, and checking accour O a. O b. store of va...

A: Money is a product acknowledged by broad assent as a mode of monetary trade. It is the medium wherei...

Q: If you wanted to increase demand for your restaurant but are unable to lower prices or increase adve...

A:   Meaning of Demand: The term demand refers to the willingness of an individual to purchase a partic...

Q: In the US, drug companies receive a patent of 100 years for each drug they develop. This allows them...

A: At the center of the country's drug pricing evaluating issue is one principal reality, Drug organiza...

Q: Country A Country B Country C Terrania Share of Terranian Trade 0.4 0.3 0.3 Exchange Rate (units per...

A: Answer:- The real effective exchange rate (REER) can be defined as weighted average of a country's c...

Q: A profit-maximizing competitive firm uses just one input, x. Its production function is q 2x2, Margi...

A: A firm will maximise its profit where price of an input is equal to value of marginal product 

Q: An equipment costs ¥ 10,000 with a salvage value of ¥ 500 at the end of 10 years. Calculate the tota...

A: Given: The cost of equipment is = ¥ 10,000 Salvage value = ¥ 500 Interest rate is = 4% To Find: The...

Q: what is the purpose and functions of inside money transfer?

A: In Democratic government system typically, it has been observed that there is both public and privat...

Q: If government sets a price ceiling of $8 per unit in the market illustrated in the diagram, the resu...

A: A price ceiling is a government- or group-imposed price control, or limit, on how high a price is ch...

Q: Price £/unit 4. D Quantity 800 Figure 7 Demand curve for a firm in perfect competition A firm sellin...

A: Here, the given demand curve shows the demand for Sandwich in the perfectly competitive market with ...

Q: 2. The marginal propensity to consume must be smaller than one. Answer: Reason:

A: Consumption refers to that part of the income which is devoted towards the consumption of goods and ...

Q: Consider the graph below Suppose that the economy is at point A Price Level LRAS SRAS AD Y (GDP) Cur...

A: Below is the edited graph:  

Q: Cost LRAC A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run avera...

A: We have to find Long run average cost curve.

Q: 1. A passenger train was bought at Php 36000000 and will incur 1500000 of annual operation and maint...

A: We are going to use PW approach to calculate Capitalized Cost of this project. 

Q: Q2 Consider the following game. (a) Find all pure-strategy Nash equilibria. (b) Find all mixed-strat...

A: Pure strategy nash-equilibrium is a strategy in which one player would not benefit from changing his...

Q: 4. If tax revenues are lesser government expenditures in a year, the budget deficit would be negativ...

A: Budget Deficit occurs when in an economy, government expenditures are more than government revenues ...

Q: Consider the market for yachts. The market price of each yacht is $105,000, and each buyer demands n...

A: Consumer surplus is the area above the price line and under the demand curve.  --------------------...

Q: Is it possible that globalization have come into existence without the internet? How was life like i...

A: Globalization is the process of bringing together businesses, governments, and people from all aroun...

Q: Renting would be better than buying for an individual who does not want to need to pay for maintenan...

A: Renting - Renting is the amount paid for using the property and this use can be for personal purpose...

Q: 2. Cross country comparisons of labor productivity. Show all work, LABEL carefully and NOTE UNITS. L...

A: Introduction capital labor ratio can be calculates as total numbers of capital stock in economy divi...

Q: Which of these is required to get a mortgage? O all of these O A listing of all possessions to be ke...

A: Mortgage is a kind of loan which is used to finance property. It is a contract between borrower and ...

Q: A firm faces the demand schedule = 0.69 and the total cost function TC = 40 + 30q + 0.4q². %3D (a) W...

A:

Q: Possible methods for avoiding the externalities in a free-market economy?

A: An externality refers to the benefits or costs which are caused by yhe producers but are not incurre...

Q: Social fluidity is all about transformation that results from social actions and reactions in respon...

A: Concept Members from various classes have varied possibilities of landing in one destination class v...

Q: 5. Interest, inflation, and purchasing power Suppose Ana is an avid reader and buys only comic books...

A: According to fisher’s equation,  Real interest rate = nominal interest rate- inflation

Q: Suppose an individual in the Grossman model is trying to decide what to have for dinner. His options...

A:

Q: Consider the following version of the short run monetary model: MD/P = exp(-0.50*i)*Y (UK) MS = M i=...

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Q: Drag the marker labelled 'Point of minimum efficient scale' to the point of the LRAC curve that corr...

A: The size of a firm’s Minimum Efficient Scale (MES) compared to the size of the market has a substant...

Q: Question 11 (* Which one of the following people would be counted as unemployed in Canada? Kanhaya h...

A: Unemployment refers to all those people who are actively looking for work at the present wage rate. ...

Q: a) Graph her consumer choice model (with chicken onthe x axis. Nowlet price of chicl fall, causing L...

A: Two goods are considered in the market chicken and rice with price of chicken and rice denoted as Pc...

Q: Suppose that the economy is characterized by the following behavioral equations: C= 180 + 0.7Y /= 13...

A: Aggregate expenditure is the sum of consumption investment government spending a closed economy. 

Q: 7. The required reserve ratio helps determine the amount of money banks can create.

A: The reserve requirement is the portions of reserves that banks are expected to keep in currency, eit...

Q: 1. Assume Hudson has a target income of $159,000. What amount of sales (in dollars) is needed to pro...

A: Introduction: A contribution margin income statement is an income statement in which all variable ex...