Which of the following is a characteristic of monopolistic competition? few sellers homogeneous product zero long-run profits barriers to entry

Q: 1. Which of the following is not a criteria of the Industrial Organisation (IO) paradigm? a. All…

A: Industrial organization is an economics topic concerned with corporate strategy, regulatory policy,…

Q: 3.) Assume that the following has a linear cost function.   Fixed Cost Marginal Cost per item Item…

A: Given: Fixed Cost=$250 Marginal Cost=$17 Item sells for=$26

Q: For a perfectly competitive firm operating in the short run, in order to maximize profits it should…

A: here we find the correct answer as follow;

Q: Consider the following zero-sum game: Player C C1 C2 C3 R1 13 12 10 R2 14 6 8 R3 3 16 7 a. Does…

A: The zero sum games can be converted as where we have payoffs for both the players and both are the…

Q: Which of the following restrictions on international trade sets a maximum allowable amount of a…

A: There are many trade and nontrade barriers. A Tariff is a type of trade restriction imposed on the…

Q: Is it a pure investment proj

A: A pure investment project is a simple investment where the business invest money one time and get…

Q: Douglas allocates his budget of $24 per week to 3 goods, cereal, books and clothing. Use the table…

A: Utility maximization was first developed by utilitarian philosophers Jeremy Bentham and John Stewart…

Q: 2. Imports and Exports Now we allow for international trade. Use the following information from…

A: Given: C=400+8/9 DI I=300 G=800 T=1/2 Y X=300 Note: Due to multiple subparts being posted, the first…

Q: Please answer What are some of the major developments in trade over the past two decades? What are…

A: Economic development is basically the process of improving a nation's, region's, local community's,…

Q: Consider an one person, two good, one input economy. This is "Lea's Economy". Lea's utility function…

A: Opportunity Cost refers to the value of the payoff of the economic activity that an individual agent…

Q: Consider a firm that suffers diseconomies of scale. If this firm wants to produce half as…

A: "Diseconomies of scale occurs when each item produced cost more and more as a firm continue to grow…

Q: Suppose the price of an M&M is $2.00, the price of Skittles is $3.00, and the budget is $24. M&Ms…

A: Budget line shows the combinations of two goods that a consumer can purchase at given market price…

Q: iscuss money supply and inappropriate government policies as causes of economic fluctuations

A: The total amount of money in circulation, including cash, coins, and checking account balances, is…

Q: Do consumer behavior strategic recommendations- Words Required: 600

A: Consumer is a person or an individual who buys goods and services at a common price. It is the price…

Q: iven the cash flow diagram, what is the future worth of the cash flow at the end of six years? what…

A: Given interest rate = 10 % time = 6 years Future worth of each cashflow = Cashflow each year * (1 +…

Q: Suppose a monopolist producing Q units of output faces the demand curve P = 130 − 4Q. Its total cost…

A: Profit refers to the extra revenue that producers or sellers of a good or service earns over and…

Q: Suppose you estimate the folilowing regression model: AW E = 696.7 + 9.6 x AGE where AWE is average…

A: Answer: Given, Regression model: AWE=696.7+9.6×AGEWhere,AWE=average real weekly earningsAGE=age of…

Q: Say that the marginal revenue brought by hiring a worker is at P600/day, and the minimum wage is…

A: Given:Marginal revenue of hiring a labor=P600/dayMinimum wage=P537/day

Q: discuss the different types of economies and how each one of them operates. discuss advantages and…

A: There are different types of economies practiced across different countries.

Q: 17. When a large country imposes an import tariff on good X O a. Domestic production of good X…

A: When quantity demanded exceeds quantity supplied the country will import the good because it has the…

Q: Problem 1. Consider the following game. Notice that player 2 has two information sets. L M a e 2,2…

A: In the backword induction we first solve for player who is moving last in the game.

Q: speed at which one moves Do you expect the pace of techno- logical progress to speed up, slow down,…

A: The rate of technological advancement is slowing. Computers and the internet have accounted for the…

Q: complete all please! thank you Part I - Definitions 1. Define Autonomous Aggregate Expenditure…

A: Economics refers to a social science which helps studying about production, consumption, and…

Q: Interpret the gnp growth rate of the philippines over the years and explain its implication.

A: The value of all commodities and services generated by a country's citizens and enterprises is…

Q: Fl in the blariks When a country's income is PHP20008, you spent PHP1,75o When your income changed…

A:

Q: 7. Paranoia, the largest country in central Antarctica, receives word of an imminent penguin attack.…

A: Investment refers to the money spent by producers on assets that help them generate profits.…

Q: Make the following calculations according to the table below. Good A Good B Good C Good D Quantitiy…

A: The GDP price deflator measures the changes in prices for all of the goods and services produced in…

Q: Which of the following policies permits a specific quantity of goods to be imported at one tariff…

A: A country will import the good if there is a shortage of that good, it implies as quantity demanded…

Q: The cost of sunflower seeds has increased. Sunflower seeds are an input when sunflowers are…

A: The demand and supply curve together intersects in the market to determine the equilibrium price.…

Q: Jack’s preferences are represented by the utility function U = XY^2. PX = 1, PY = 1.5 and his budget…

A:

Q: What is a unitary elastic supply?

A: The markets are the place where the buyers and the sellers of various goods and services and other…

Q: How is the performance of Philippine economy in the year 2020 in terms of

A: Exchange rate, the cost of a country's cash according to another nation's cash. A conversion scale…

Q: Discuss the advantages and disadvantages in participating in international trade

A: International trade takes place when the countries interact with each other and transport goods and…

Q: A contractor imported a bulldozer for his job, paying Ph 250000 to the manufacturer. Freight and…

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

Q: Brett is trying to decide between two insurance plans. The first plan has a $0 deductible, a 50%…

A: A deductible is the smallest amount that a person must pay before receiving insurance coverage.…

Q: Given the demand function of a certain good to be: Qp = 46+3Y - 4P %3D where Op, P, Y denote…

A: Normal good :- If demand and income has positive relationships . More demand of goods caused by high…

Q: 3. Using the Aggregate Demand / Aggregate Supply framework, determine both i) the short run effect…

A: Aggregate Demand refers to the total demand of all the consumers of all types of goods and services…

Q: Other things being equal, an increase in the average product of labor in steel production will…

A: The total output amount which could be produced by a firm with the given labor quantity is being…

Q: Explain Foreign exchange and give examples

A: Foreign exchange refers to the trading of one currency for the other currency. The trade between two…

Q: la. An asset is purchased for $90,000. It is expected to have a useful life of six years and a…

A: Given: The cost of an asset is = $90,000 Useful life = 6 years Salvage value = $18,000 To Find: The…

Q: 1) If a $2,000 one-year bond pays $170 in annual interest, the interest rate on this bond is (do NOT…

A: Bond is the the form  of debt issued by the government or corporate sector to raise capital from the…

Q: Price (Dollars per Garment) 7 D E 5 AC=MC Demand Marginal Revenue 10 20 Garments cleaned per year…

A: In perfect competition there are large number of firms and in monopolistic market there is only one…

Q: Use a graph to demonstrate the circumstances that would prevail in a competitive market where firms…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: 3. Thè components of marginal revenue Darnell's Fire Engines is the sole seller of fire engines in…

A: Demand curve shows a negative relationship between price and quantity demanded. Its slopes downward.

Q: Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand…

A: Answer: Given, Supply function: p=q2+20q Demand function: p=-2q2+10q+11,400 At equilibrium,Quantity…

Q: Discuss the Constitutional Limitation concerning prohibition against imprisonment for non-payment of…

A: Answer- No person should be imprisonment for non payment of poll tax.  Poll tax means citizens are…

Q: Scarcity and Choice Understanding what the market system does well and what it does badly is…

A: *Answer:    1. The true cost of something is not just the value the market puts on them. A salary is…

Q: 11. You want to start saving for your 10 year old son's college education. If you are guaranteed 13%…

A: Rate of interest = 13%  Future amount after 18 years from now F= P120,000 n=18 (Since the son is 10…

Q: 3.) Elasticity Price elasticity of demand is the responsiveness of quantity demanded to price…

A: The responsiveness of quantity demanded to price changes is known as price elasticity of demand. The…