What type of an externality is depicted in the graph above and why? b. Suppose the graph refers to the tobacco industry. In a free market without any government intervention, what are the equilibrium price and quantity of tobacco that will be produced? c. What are the socially optimal price and quantity of tobaccos? Why are these the socially efficient price and output?

Q: 6. In an Edgeworth box for two consumers, A and B, with endowments of = commodities Xa and d Ya are…

A: Edgeworth box   Edgeworth's box theory talks about the consumption of two goods by two persons. A…

Q: A contractor imported a bulldozer paying 250,000 to the manufacturer. Freight and insurances cost…

A: Book Value refers to the value of an asset after its liabilities have been taken out. The…

Q: According to Ferdinand Tönnies, urbanism corresponds to __________ (gemeinschaft/gesellschaft).

A: When talking about the difference between gemeinschaft and gesellschaft according to Ferdinand…

Q: Between the  IMF and the WB, which of the two is mindful of the consequences of its policies to…

A: The International Monetary Fund (IMF) is a global organisation that promotes global economic growth…

Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…

A: Monopolistic competition: - monopolistic market structure is the structure in which there is a large…

Q: How do technically recoverable and economically recoverable amounts of a resource differ? Define the…

A: Technically and financially recoverable asset measurements differ technically: the extent to which…

Q: Last year aria left her job earning $82,000 per year in order to start her own cupcake business Her…

A: Profit refers to the margin that sellers get over and above the total cost incurred in the…

Q: When Open Market Operations result in an increase in the Monetary Base Interest rates fall Bond…

A: Open market operation "The open market operation is a monetary policy tool used by the central bank…

Q: 10- If labor is on the vertical axis and capital is on the horizontal axis, the slope of an isocost…

A: The line that depicts the various combinations of the inputs that are used which tend to cost the…

Q: Explain average fixed cost (AFC)?

A: Costs are the sums of money spent by producers on various variables of production in order to…

Q: In the event of the death of a licensee, a temporary license may be issued to which of the following…

A: Answer: In the event of the death of a licensee, a temporary license may be issued to either…

Q: The Leontief study testing the Heckscher-Ohlin theory showed that a) The US exported…

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

Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…

A: In monopolistically competitive market, there are large number of firms producing differentiated…

Q: **********⠀⠀⠀⠀⠀⠀⠀⠀ ******* Q3:. pply and demand functions for a commodity are 100+ 2(4+ Pa=-(Q.) P₁…

A: *Answer:

Q: Let's assume that in the Asgardian's model of the economy the natural rate of interest is denoted as…

A: Aggregate Demand  Aggregate demand refers to the overall demand in the economy for output. It is the…

Q: Refer to Table 13-1. What is the average total cost of producing one widget? b. $15 a. S1 c. $16 d.…

A: Formula to be used: For all quantities, the fixed cost remains the same. TC=FC+VC  VC=TC-FC…

Q: initial distribution of two goods between two people is Pareto optimal, which of the following…

A: In economic hypothesis, perfect competition happens when all organizations sell indistinguishable…

Q: The Children's Theatre Company in Minneapolis produces high quality theater for kids. Demand for…

A: A monopoly is a point at which one organization and its item rule a whole industry by which there is…

Q: The distinctive way of life allegedly developed in urbanareas is referred to as __________.

A: Urban areas are more developed as compared to rural areas.

Q: Consider the following economy. Individuals are endowed with y units of the consumption good when…

A: Finance is a forecast of sales and spending for a particular destiny time frame this is typically…

Q: 1. What are the ultimate reasons for analyzing the economic performance of a country/ market? How…

A: What are the ultimate reasons for analyzing the economic performance of a country/ market? The true…

Q: Calculate the percentage change in real GDP in each of the years shown. (Hint: The percentage change…

A: Real GDP is a macroeconomic proportion of the worth of economic results adapted to price changes .…

Q: 17. In considering pounds and dollars, when the dollar rate of exchange for the British pound rises:

A: The exchange rate is the rate at which the currency value appreciates in the economy. It means the…

Q: 1.2 An industry with many stores offer laminating as a service to their customers. Suppose that each…

A: Given; Total Cost function; C(q)=50+0.5q+0.08q2 Marginal Cost function; MC=0.5+0.16q Current…

Q: 5) Double Take Beauty Double Take Beauty is a spa in Provo, UT that offers single needle tattoos…

A: Given; Old price charged by Sadie= $400 Marginal Cost= $100 New price= $500

Q: Last year aria left her job earning $82,000 per year in order to start her own cupcake business Her…

A: Disclaimer“Since you have asked multiple questions, we will solve the 3subparts question for you. If…

Q: 5. Exogenous influences of New Supply 6. How market prices are determined in the property market?…

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

Q: 2. Based on your answer in 1, identify two key features of long run equilibrium and determine the…

A: Answer: The two key features associated with long-run equilibrium are given as: (1). In the long…

Q: Consider a lottery L1 that gives income £7,000 with probability 1, and a lottery L2 that gives…

A: "In economics, utility represents satisfaction which a consumer gets from a commodity or a service.…

Q: 12. Inflation-induced tax distortions Bob receives a portion of his income from his holdings of…

A: We can calculate nominal interest rates as, Nominal Interest Rate=Inflation+Real Interest Rate

Q: If you were to do a research on the topic of determining the satisfaction of university students on…

A: The utility is a metric for assessing a person's satisfaction after consuming items. In other words,…

Q: A company is setting up a project to build housing units, and the investment volume is estimated at…

A: * SOLUTION :-

Q: 3. How do the laws of demand and supply work for the real estate market? How do prices/rents change…

A: The measure that depicts various quantities of goods and services being demanded by individuals at…

Q: What can be the implications of a positively sloping indifference curve?

A: Indifference curves are those curves that represent combinations of two goods that give the same…

Q: Eric Yang earns $603.16 weekly, is married, and claims 3 withholding allowances. Use the Percentage…

A: Net earning is the amount remaining after subtracting all taxes and expenses.

Q: Toyota cars and Honda cars are substitutes. If a technological breakthrough reduced the cost of…

A: Toyota has a broad capacity of suppliers that also contain the  Bridgestone Americas to provide…

Q: (Coal 091S OSTS OPTS OETS ORTS OUTS 00S 0S 0S 0S 0S 0SS ONS DES O2S ots of 0.0% %50 1.0% 1.5% 2.0%…

A: The Federal Reserve System (or the Fed) is the central bank and money-related power of the United…

Q: A key skill in economics is the ability to use the theory of supply and demand to analyze specific…

A: The dating among the amount of a product that manufacturers have to promote at sure expenses and the…

Q: When airfares between Santa Rosa and Los Angeles averages $69, the quantity consumed is 42,500…

A: Price elasticity of demand = Percentage change in quantity demanded / Percentage change in price…

Q: uppose fixed costs are $10,000, variable costs are $40,000 and the price of the good is $10 and…

A: fixed costs are $10,000 variable costs are $40,000 Price = $10 Quantity = 10,000

Q: What is the connection between functionalism andthe concept of equilibrium?

A: Functionalism is related to social studies which includes all the aspects of the society to work on…

Q: Given the national income model Y= E; E=C+I where C= 280 +0.6Y, Io = 80: (a) Write down the value of…

A: In the aggregate expenditure model, equilibrium occurs where aggregate expenditure equals income.

Q: hen comparing point A, which lies within a utilities possibilities frontier, with point B, which…

A: The production possibility frontier refers to the curve that is used to discover the mix of products…

Q: What stores all relevant information, data, rules, cases, and relationships used by the expert…

A: Meaning of Managerial Economics: Here, the term managerial economics refers to the process of…

Q: An asset costing P20,000 was purchased 3 years ago. At that time it was estimated that it would have…

A: Salvage value is the assessed book value of an asset after depreciation is finished, in light of…

Q: Determine whether the statements is true, false, or uncertain.  If the statement is false or…

A: Negative externality refers to the situation when there is an adverse impact of one's action on any…

Q: What are the arguments against international free trade and what policies does the government have…

A: International free trade basically refers to the trade between various nations or countries freely,…

Q: Using the concept of production possibility curve, explain how it can be used to  show the…

A: Production possibility curve is a frontier which shows combinations of two goods which an economy or…

Q: 1) Roma is considering getting either a used car or a scooter to get back and forth to work. The car…

A: Answer: A car and scooter both can be used to go to the office. Thus these can be substituted in…

Q: 1/2 1/2 3 (b) An economy consists of just two people. A and B, and there are just tw commodities x…

A: Pareto efficient allocations refer to those points deviating from which nobody can be made better…