When a perfectly competitive industry is taken over by a monopoly, some consumer surplus is transferred to the monopolist in the form of economic profit marginal cost deadweight loss

Q: Which of the following is true of a labor market with a bilateral monopoly? Employment will be…

A: A bilateral monopoly exists when there is one buyer and one seller in a market.  There is a large…

Q: The "brain drain" phenomenon refers to: Workers experiencing a fall in productivity levels due to a…

A: Human capital refers to the skills, qualifications of a person through which it contributes in the…

Q: How does monopolistic competition differ from perfect competition A) There are more sellers in a…

A: The monopolistically competitive market is different from the perfectly competitive market in a way…

Q: /hich of the following regarding "education as a signaling device" is correct? Higher educated…

A: The options as to which is correct regarding " Education as a signalling device" is correct that is…

Q: The Aberdeen Fixed Rate Fund pays a dividend of 10% per year simple interest, If you invest $240,000…

A: As given simple interest rate = 10% Time = 3years Present worth = $240,000

Q: What is the consumer price index (CPI)? O a) The CPI is a measure of food, clothing, and housing…

A: The Consumer Price Index (CPI) is a proportion of the typical change time in the costs paid by…

Q: On the average, the amount of money that a customer spends in the store is $40 with a standard…

A: Answer; Q21) Option (d) is correct

Q: Which area(s) represent the amount of consumer surplus lost due to the tax? O a) B-C O b) B+F O)A c)…

A: Consumer surplus refers to the ads abound the price and below the demand curve.

Q: Quantity Marginal Benefit Marginal Cost 1 $50 $2 $45 $15 $39 $16 4 $5 $21 $-18 $38 Using the above…

A: Marginal cost is defined as the cost which is incurred by the producer in order to produce one more…

Q: Situational Analysis: Would the following factors increase or decrease the ability of domestic oil…

A: On a global scale, supply and demand determine crude oil prices.

Q: Q12: Which of the following policies does not stimulate economic growth in the long run? (a) To…

A: Economic growth depends upon the level of investment in the economy. In the long run, the investment…

Q: Two countries (A and B) produce tea and oranges using labor. The number of hours of labor required…

A:

Q: Regarding unemployment, it is correct to say that: O a. Discouraged individuals are those officially…

A: Unemployment occurs when an individual is looking for a job/work and is unable to find one.

Q: Question 54 If there is a scientific discovery that eating peanuts cures…

A: Demand refers to total quantity of goods and services that is consume by consumers and they are able…

Q: The following are to answer true/false/uncertain. Put uncertain only if the question requires more…

A: 1. High nominal interest rates indicate that monetary policy is tight.

Q: The refers to the specific amount of income needed for a basic standard of living. poverty trap…

A: The amount required for a basic standard of living.

Q: M1 money includes all of the following except   Question 45 options:   a)  savings accounts   b)…

A: M1 as a measure of money supply includes currency , demand deposits , travelers checks and all the…

Q: What makes suburbanization possible?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Depositors of money in a bank are O a) suppliers of funds. O b) borrowers of funds. O c) customers…

A: Banks are defined as the financial institution which accepts deposits from public and uses it to…

Q: ation b. Check for your answer. Show all the necessary steps. dt - 7y = 21 siven MC = Dtc/dQ =…

A: 5. TC(Total cost) is the sum of TVC(Total variable cost) and TFC(Total fixed cost). ATC(AVERAGE…

Q: The next four questions refer to the following supply and demand graphs: III IV XIXIXIX Da D. D, 33,…

A: Thank you for the question. As per BNED, we can answer 3 subparts per session. To get the answer for…

Q: In Y In Y" = Xu In y In Y =,X, In Y X, X Productive characteristics, X Consider the Oaxaca framework…

A: Given information

Q: 3. Efficiency in the production possibilities model Suppose South Africa produces only two goods:…

A: Production possibility frontier shows the possible combination of two goods which can be produced…

Q: 1. Illustrate the market for labor among gas station attendants. Imagine that demand for gas, and…

A: The markets are where the goods and services are bought and sold. The markets tend to operate with…

Q: Import quotas and import tariffs have qualitatively similar effects on equilibrium outcomes in…

A: Import Quotas:-  Import quotas are a sort of trade limitation that places a practical limitations on…

Q: A) The figure below shows the bid rent curves for land for use in housing (R), commercial purposes…

A: Rent refers to the cost of using a property or a good that belongs to another owner. It is also used…

Q: 3. Ethics refers to   A) the practice of obeying applicable business laws and regulations B) the…

A: The organization that is being engaged in activities of commercial, industrial, or professional in…

Q: If the cost of lemons falls from $5 to $4 a bag, we could predict the supply curve lemonade would a)…

A: Supply curve has a positive slope. It shows a direct relationship between price and quantity…

Q: During the Great Recession, the U.S. aggregate demand curve shifted to the left, in part, because a)…

A: Recession refers to a period of time where fall in economic activity can be observed all across the…

Q: b) What information does the sacrifice ratio tell us about the consequences of reducing inflation?

A: since you have asked multiple questions and according to policy we can solve only 1 question and for…

Q: The Melitz (2003) model can account for positive selection of firms into export.  True  False

A: It is an asymmetric two-country Melitz model.

Q: 12.11 A firm is considering replacing a machine that has been used to make a certain kind of…

A: To find the remaining useful life of the older machine we find its EUAC (Equivalent uniform annual…

Q: 1 2 F B D Consumer Goods Refer to the above diagram. A shift in the production possibilities curve…

A: Production possibility curve is the locus of different combinations of two goods that an economy can…

Q: MC MC, VMP, S= AC W, Wa VMP N. N, Which depicts the situation of a monopsonistic firm. A minimum…

A: The correct answer is given in the second step.

Q: In the Melitz (2003) model gains from trade only increase producer rents (make firms more…

A: The original Melitz (2003) model takes into account a world of symmetric nations, one factor…

Q: Which is the largest component of U.S. gross domestic product (GDP)? a) government purchases O b)…

A: GDP measures the value of final goods and services produced within the country in a specific period…

Q: Consider a deferred compensation scheme. Which of the following describes the wage productivity…

A: Productivity refers to the concept of output per worker or output per unit of capital. It is used to…

Q: Consider the following data on two fictional countries: 1 and 2. . Country 1 Country 2 Output per…

A: Given; Production Function; y=Akαh1-α where; α=0.5   Country 1 Country 2 Output per worker 120…

Q: When it comes to social welfare, this is proportional to economic surplus when faced with…

A: The study of how the distribution of resources and goods impacts social welfare is known as welfare…

Q: Assume that the macro-economy is initially in short -run equilibrium.  What happens to the…

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

Q: When making decisions about saving and borrowing, people care most about O a) the nominal rate of…

A: In an economy, people make their consumption and savings decisions based on their income level and…

Q: Fiscal Policy refers to the idea that aggregate demand is affected by changes in Question 58…

A: Fiscal policy is a tool of government which they use to control the economy stability.

Q: Determine the following integral, using substitution method .Check the answer on you Dwn 18 x (x+…

A: Problem can be solved by simplifying problem and then integrating.

Q: Principal-agent theory deals with the problem of: designing an efficient contract between the…

A: The principal-agent theory refers to a dilemma that occurs when a person or group's priorities…

Q: a) Explain the influence of each of the following on the natural rate of unemployment Employment…

A: Introduction : The natural rate of unemployment represents the lowest unemployment rate whereby…

Q: Refer to the Table Below. What is the CPI in 2019 if the reference base period is 2002? TABLE 1…

A: CPIt = (price of basket in year t)*100/ (price of basket in base).

Q: : Q1/ Choose the correct answers for each of the following 2- If the value of income elasticity of…

A: Income Elasticity of demand is defined as type responsiveness of the quantity demand when income…

Q: The existence of positive externalities associated with a programme of vaccination against a…

A: Externalities is the spillover effects of an economic activities of an agent which has impact on…

Q: Explain any three types of price elasticity of demand and any three types of price elasticity of…

A: Concept of elasticity of demand is used in economics to calculate the change in a variable due to…