when no changes in costs of production in long run firm produce at min of average total cost curve Price= ATC min It will charge $11.00 in long run. Why $11.00. I can see that the MC crosses the ATC at that point but I need an explanation so I understand why.

Q: Consider the following steps: 1. Celia chooses how much care, x ∈ [0, 1], to take in programming her…

A: In order for Celia to choose the socially optimal level of x, we need to consider the Subgame…

Q: 4.5 Beginning with long-run equilibrium, use the aggregate demand and aggregate supply model to…

A: *** Since you have posted two independent questions, according to our guidelines, only the first…

Q: Possibility A I || Table 2-1 Economics 94 87 77 History 76 84 91 Referring to Table 2-1: A student…

A: The potential benefit or value that is forgone when choosing one alternative over another is termed…

Q: Your boss is the director of reporting for the Athens County Construction  Agency (ACCA). It has…

A: An index number, also known as an index, is a statistical measure designed to track changes over…

Q: 350 8 PRICE (Thousands of dollars) 250 200 8 8 50 QUANTITY (Loft houses) True False Market Price 4…

A: Maximum willingness to pay (MWTP) is the highest price or value that an individual is willing to pay…

Q: Two firms produce the same commodity, both with zero cost. The demand for this commodity is D(P) =…

A: A Nash equilibrium is a situation in a game where no player can improve their payoff by unilaterally…

Q: Using the income elasticity of demand to characterize goods

A: Income elasticity of demand measures the responsiveness of change in demand to change in income of…

Q: c. Over what output range does Sue's Surfboards: i. Enjoy the benefits of increased specialization…

A: In this case, we are discussing about the marginal product. Marginal product is actually showing the…

Q: In 2019 the country of Vertigo had a real GDP of $800 billion and a population of 25 million. In…

A: Real GDP per capita is a statistic that is obtained by dividing a nation's gross domestic product by…

Q: Firms A and B are battling for market share in two separate markets. Market I is worth $30 million…

A: Market: A market is characterized as the entirety of the relative multitude of purchasers and…

Q: Suppose that the one-year interest rate in Australia is 7.66% p.a. and in New Zealand, it is 8.63%…

A: One-year interest rate:In Australia = 7.66%In New Zealand =…

Q: Explain residency restrictions in China before the 1970s and how the relaxation of these…

A: The real estate sector has significance in economics owing to its influence on regional, national,…

Q: Analyze and define the diagram

A: Total satisfaction gained from the consumption of a good or service is termed as utiliy in…

Q: What is the shape of the AFC (average fixed cost) curve and why does it have this shape?

A: Fixed cost remains constant at each level of quantity. The average fixed cost is calculated by…

Q: 5.4 Food service firms buy meat, vegetables, and other foods and resell them to restaurants,…

A: For this issue, US Foods and Sysco, the two biggest firm's in the food service sector, publicly…

Q: The Wew desinat s f) Fully explain why the impact on employmont of the house building program may be…

A: The impact on employment of a house building program may be greater than the change in labor…

Q: P P. P s Market for Good X Refer to the Market for Good X above. Pe $5, P,-$20, P-$10, P-$13, Q₁-20,…

A: A government-imposed minimum price that is set above the equilibrium price in a market is termed…

Q: A source of variation to consider in valuing a cross-border M&A is _____. foreign currency exchange…

A: M&A stands for "mergers and acquisitions." It is a term used to describe the consolidation or…

Q: where is part b

A: Part a)A positive externality in production occurs when the production of a good or service…

Q: Tourists Local government Local residents Government

A: Title: The Roles and Relationships of Tourists, Local Government, Residents, and Government Tourist…

Q: Consumer utility function= U=X^2Y^3. and faces constraint, Income=200, Px=$2 Py=$3. The consumer's…

A: The utility function is given by U(x, y) = x2 y3 Px = Price of good X ; Px =…

Q: Option 1: Explore the Congressional Budget Office website. The website is discussed in the Fiscal…

A: Budget outlook refers to the projected financial situation of an entity,  it can be an government,…

Q: A ski resort faces daily demand given by P = a - Q, where a varies from day to day. Over a three-…

A: Consumer Surplus : Consumer  surplus is a measure of the economic  benefit that consumers  receive…

Q: During the pandemic, pharmaceutical and biotech companies worked intensively to develop a vaccine…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: The table shows the cost of a fixed basket of goods that a typical urban consumer would buy in the…

A: The Consumer Price Index (CPI) is a measure that tracks changes in the average price level of a…

Q: Wine B 4. 14 Bread A to B B to E C to F G to F D View the video for help with these questions Figure…

A: A graphical depiction of the different combinations of two goods or services (here, wine and bread)…

Q: Analyze your current organization’s primary stakeholders and provide examples of those stakeholders.…

A: Primary stakeholders are people or groups that are directly involved with an organization and can…

Q: If taxes are cut so that people have an increased incentive to work and businesses increased…

A: Tax is a financial charge or duty forced by a government on people, organizations, or different…

Q: In the FT article “Japan’s core inflation hits 41-year high with central bank under policy pressure”…

A: I am going to  provided a response to a question that involved two parts. Firstly, I graphically…

Q: A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy…

A: To determine the market maker's total profit, we need to find the prices at which the market maker…

Q: Consider the following data for a closed economy: Y = $12 trillion C = $8 trillion G = $2 trillion…

A: A closed economy is an economic model that addresses a system where no external trade or capital…

Q: Suppose that the least-possible cost of producing a car in 1901 is£250. Draw the average total cost…

A: We want some extra information in order to create the average total cost (ATC) curve for a vehicle…

Q: Solve the (a) By matrix inversion (List the variables in the order Y, C, T.) national-income model…

A: GivenHere Y, C, and T are endogenous variables. To form the coefficient matrix, write the endogenous…

Q: Select a developing country that interests you and searchfor evidence suggesting which factors are…

A: The term "developing countries" refers to the countries that are in between the  process of…

Q: The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market.…

A: The overall benefit or value generated by an economic transaction or activity is termed 'economic…

Q: Now we will consider the changes in problems 1 and 2 simultaneously. Consider the market for…

A: The real estate sector and economics have an unbreakable connection in an array of ways. As an…

Q: What is total expenditure method in price elasticity of demands. Need a diagram too.

A: Price elasticity of demand refers to the percentage change in the quantity demanded with respect or…

Q: NO tables, please, only formulas correct answers are: (i) n=12×5=60(months) --> ?0 = £16,775 (ii)…

A: In this case, we have to discuss the topic about the original loan, capital outstanding at the end…

Q: [0,1], to take in programming her robot. This

A: h) β would have to equal π/(1-π) in order for Celia to choose the socially optimal level of x in a…

Q: 3. Consider the overlapping generations model with fiat money and illiquid capital, in which…

A: Fiat money is a sort of currency that gets its worth from government regulation or law, as opposed…

Q: A few investors borrowed $25 million to build 600 new apartments near a mall. They borrowed at 10%…

A: To analyze the sensitivity of annual profit (or loss) to changes in the occupancy rate and the…

Q: Suppose that a city government introduces a $0.50 excise (commodity) tax on consumers of bottles of…

A: Equilibrium in the market occurs at the intersection of demand and supply curves where quantity…

Q: The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows…

A: CPI refers to the measure of average price level of basket of goods and services that is paid by…

Q: Create a sale pitch for the Railroad in the 1800s. the presentation must be something that will hook…

A: Investment : The  act  of allocating money , resources , or time into a venture , project , or asset…

Q: What are the import and export requirements and costs of boat engines in Philippine?

A: The movement of goods, services, and finance across countries or geographical areas is often…

Q: Answer the questions. Please draw graphs, instructions on word for how to draw the graph is not…

A: A demand curve depicts the correlation between the price…

Q: Utility Maximisation and Non-negativity Constraints. Suppose the consumer wants to maximise utility…

A: Condition for optimal consumption is given as

Q: The accompanying graph depicts the marginal revenue (MR), demand (D), and marginal cost (MC) curves…

A: Under a monopoly, a single seller faces the entire market demand on his own. Here, the seller…

Q: The most basic premise of the aggregate expenditures model is that Multiple Choice

A: Aggregate expenditure is prime driver of economic activities in the economy. A rise in the spending…

Q: Bailey, Inc., is considering buying a new gang punch that would allow them to produce circuit boards…

A: Present worth is a financial concept that refers to the value today of a future stream of cash…