Which of the following examples comes closest to a perfectly competitive market

Q: John is thinking about going to the movies tonight . A ticket costs $ 9 and he will have to cancel h...

A: The opportunity cost of doing any activity is the value of the next best alternative which has been ...

Q: The demand for labor is L= 4000 - 300w, where L is the number of workers demanded and w is the hourl...

A: Labor Demand : Ld=4000-300w Labor Supply : Ls=200w Equilibrium wage=$8 Equilibrium quantity of labor...

Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, ...

A: Perfectly competitive market is a market structure where all seller sell identical products, firm ar...

Q: Under which market structure, average revenue of a firm is equal to its marginal revenue

A: To find : Under which structure, average revenue of a firm will be equal to it's marginal revenue 

Q: Goods imports 635 Goods exports 419 Services imports 144 Services exports...

A: Current account balance includes the export and import of goods and services and unilateral transfer...

Q: 7. Find the utility for the following time-discounted situations ( U = 100 + E(100 - 50)0.95' %3D a.

A:

Q: Under a gold standard, countries should Group of answer choices keep the supply of their domestic ...

A: Gold Standard features:- (i) The monetary unit is established in accordance with the specific gold a...

Q: Select the correct answer below O for each firm when antitrust regulators split this company exactly...

A: A monopoly firm is a firm that has control over the market supply. This happens because a monopoly f...

Q: 0. Who is the 'father of economics'? Мax Muller

A: To find : Who is father of economics 

Q: Which of the following statements about labour productivity (Y/L), also known as the average product...

A: Labour Productivity Labour productivity is defined as actual production per labor hour, and the chan...

Q: If the quantity demanded of bananas decreases by 5% when the price increases by 10%, demand is Group...

A: Answer: Introduction: When the percentage change in quantity demanded is greater than the percentage...

Q: While game theory predicts noncooperative behavior for a single play of the prisoner's dilemma, it w...

A: As indicated by game theory, a prisoner's dilemma shows a situation in which two people acting egoti...

Q: On a (0,1) linear segment, two firms A and B selling the same good are located symmetrically at loca...

A: Consumer Utility = 10 - 4d - p  Firm A is (L) = 0.2   (Given ) Firm B is at  (1-L)    = 0.8  Let us ...

Q: his question requires a (very modest) amount of reading ahead in the early section h of the followin...

A: The Multiplier can be defined as the change in income due to the change in the investment in the eco...

Q: Amy has $24.00 a week to spend on coffee and Quantity (cups of coffee per week) рop. 24- The price o...

A: Budget line: - it is the graphical representation of different combinations of two goods that a cons...

Q: In the world market, a pair of shoes from China is sold for $40 and that from Mexico is $50. U.S. ma...

A: Before free trade:- Price of shoes in China= $40 Price of shoes in Mexico= $50 Price of shoes in sho...

Q: 7.2 (LG 7.2) Maryhill Mines has a pelletizer that it is considering for replacement. Every three yea...

A: Introduction:- The pelletizer gadget, which changes over the item into pellets of different shapes a...

Q: If a company is running short of funds and they want to increase revenue. Should you increase or dec...

A: When the firm runs short of funds then increasing revenue is the best way to fulfill fund requiremen...

Q: There is often litter along highways but rarely in people's yards. Provide an economic explanation f...

A: Externality: The unintended consequences caused by activities of the market create externalities.  I...

Q: A binomial probability experiment is conducted with the given parameters. Compute the probability of...

A: a frequency distribution of the number of successful results that can be achieved in a specified num...

Q: B. The law of consumer surplus is based on

A: To find : What is law of consumer surplus based on. 

Q: Demand for final consumption arises in Household sector only

A: To find : When do demand for final consumption arises. 

Q: The Fed chairman pursued aggressive policies to tackle the problem of unemployment. As a consequence...

A: Answer -

Q: Consider food stamps where the government gives a person $100 worth of food stamps that can only be ...

A: Budget line A budget line is a graphical depiction of all conceivable combinations of two commoditie...

Q: Total product refers to 1. the change in output produced for a given level of variable input (such a...

A: Total Product refers to the total volume of output produced by a firm, for a given quantity of input...

Q: This is an "all-or-nothing" question: if you do not mark all the correct answers, or mark any incorr...

A: Answer is given below

Q: Explain what would be likely to happen if the government placed a price floor on milk. Suppose that ...

A: Price floor is a government imposed minimum price for a commodity. 

Q: Is there a connection between the concepts of Long Run Aggregate Supply and the Natural Rate of Unem...

A:

Q: How is marginal product affected if workers are added who are equally good at the job? a. The increa...

A: Law of diminishing return to scale implies that as the number of a variable input is raised keeping ...

Q: 15.) Consider the market for microphones. What will happen to the equilibrium price and quantity in ...

A: Given : Due to pandemic , use of microphones is pushed for taking digital meetings rather than havin...

Q: Which of the following statements are correct? Select one or more: O a. Government spending on goods...

A: GDP The Gross Domestic Product (GDP) basically refers to the sum of all the value added in a given e...

Q: Complete the following table by calculating marginal product and average product. Instructions: Ente...

A: Formulas which we are going to use in this question are: 1. Marginal Product (MP) = Total Product at...

Q: i = 8% 0 – 1-2- 3- 4-5-6 $5500 $7100 F $9500

A: Given information: Interest rate = 8% Required to find =  F

Q: The difference between private cost and social cost is that A) social cost only considers the extern...

A: Private Cost is the cost of producing a good or service.  Social Cost is the sum of private and exte...

Q: The demand function for fountain pens last week is given as Qd=14-2P. If two fountain pens are sold ...

A: 1. Given information: Qd = 14 - 2P Price, P = $4 Supply function: Qs = xP Qs = 2 P = 4 Insert values...

Q: 2 plates of pasta 9.) Suppose that Bob still has 10 hours and can produce 10 hamburgers in 1 hour in...

A: Given: Number of hours=10 Bob: 10 hamburgers or 2 plates of pasta Jimmy: 4 hamburgers or 1 plate of ...

Q: Suppose that chicken wings and blue cheese dreassing are complements. If the price of chicken wings ...

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

Q: 24. What is the GDP of country X? 25. What is the per capita GDP of Country X?

A: The term GDP means the aggregate total output produced by a country in the current year. This produc...

Q: why do technological improvements only increase population and not the long-run standard of living?

A: In an economy, technological improvement refers to the situation when their is an enhancement in the...

Q: Assume that the demand for food is relatively inelastic and the demand for jewelry is relatively ela...

A: Answer: If the same tax is imposed on the goods having elastic and inelastic demand then the good wi...

Q: “Short-Run Production Theory is the mirror opposite of Short-Run Cost Theory,” Is this statement tru...

A: Answer -

Q: A perfectly competitive, profit maximizing firm earns zero economic profit in the long run. The firm...

A:

Q: Community colleges account for __________ percent of all college students in the United States.a. 51...

A: The answer is - d. 43%

Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, ...

A: Given; Total cost; TC=292+q2 Marginal cost; MC=2q Market demand; Q=677-2P                           ...

Q: Select the correct answer below O for each firm when antitrust regulators split this company eacly i...

A: A natural monopoly is a monopoly that exists due to a higher fixed cost of production. This creates ...

Q: Consider the two-period endownment economy model in which the net interest rate is 4 percent. The co...

A:

Q: 10. Unemployment benefits usually last for 26 weeks; however, the federal government can vote to ext...

A: The economics as a study is based upon the basic idea of scarcity, and the resources which are prese...

Q: The preferences of agents A and B are representable by expected utility   functions such that uA(x...

A: Pareto efficient allocation is the one from which no player/agent can be made better off without mak...

Q: Signaling (1 of 3) Suppose that 10 percent of workers are low-productivity types and 90 percent of w...

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

Q: Huxley llost $80 in the stock market. According too behavioral economics research, how much of a gai...

A: Let's first learn about the concept of behavioral economics research. To study human nature and thei...