Why does perfect competitive market need to be maintained?

Q: firm in monopolistic competition produces an output level Q1 = 100 where marginal revenue is equal…

A: In monopolistically competitive market there are large number of firms selling differentiated goods.…

Q: a.Big Brew maintains a low price and Little Kona enters.   b.Brew maintains a low price and Little…

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

Q: In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in…

A: GDP is the indicator utilized across the globe to demonstrate the wellbeing of a country's economy:…

Q: What is the main social problem caused by monopoly?  A. excessive monopoly profits  B. an…

A: In a monopoly, Marginal revenue curve lies below the demand curve. This implies, the seller has to…

Q: Which of the following is not considered a characteristic of money?   Question 3 options:   It is a…

A: Money is used as a medium of exchange, store of value, unit of account and standard of deferred…

Q: What do you think are the three biggest economic challenges facing Canada over the next twenty…

A: Canada is a developed economy, in today's time they are taking part with various economies in…

Q: We discussed rent control in class this semester. When there is rent control in the market for…

A: The supply curve shows the direct relationship between the price and quantity supplied. The supply…

Q: When a firm in a competitive market produces 15 units of output, it has a marginal revenue of $8.00.…

A: In a competitive market there are many firms with free entry and exit so there are no barriers.

Q: Given the function X=(4K)^1/3(L)^2/3 where both capital K and labor Lare functions of z. Solve dX/dz…

A:

Q: Explain how economic and manufacturing developments, coupled with political developments, cemented…

A: There were many dynasties that took place in China while the two most important dynasties here…

Q: Consider an economy in which GDP is $8.2 trillion, public saving is -$0.2 trillion, taxes are $0.9…

A: Economy means managing the available resources carefully.

Q: If the MPC .8 and we have a 200B GDP Gap, how much will initial expenditures need to increase to…

A: GDP is the value of final goods and services produced in the economy within a given period of time.

Q: Which of the following functions are not performed by households?   1.    Suppliers of Labour 2.…

A: In the economics theory of circular flow of Income, the households and businesses/firms are two key…

Q: Frances sells pencils in the perfectly competitive pencil market. Her output per day and costs are…

A: In perfect competition there are large number of firms selling identical goods.

Q: Convert the following cash flow in figure A to an equivalent annual worth payment series at t=2,3,4,…

A: Given: Interest rate=2%

Q: how monopolies' impact on consumer welfare and how policies towards monopolies interact with this…

A: A monopoly is a single corporation that controls an entire industry. A monopoly can arise naturally…

Q: Economics Over the past decade, holiday gift cards have become increasingly popular at online…

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

Q: H6.. Discuss the current political and economic challenges faced by Russia under Vladimir Putin and…

A: Because of their developing authoritarian tendencies, revisionist opponents of the United States'…

Q: The refinery at Petrotrin receives barrels of Oil from Suriname Under Processing Agreement (u.p.a),…

A: The above question is based on the holding out of ownership of assets legally and utilizing the…

Q: I need help with econ multiple hw questions asap! 77) Refer to the attached Figure 20. To maximize…

A: (77). To maximize profit, monopolist will choose that level of output where marginal revenue is…

Q: 4 Suppose demand increases so thai the new demand function becomes Qd = 2200 - SP while the supply…

A: Given, The initial demand curve, Qd = 1300 - 5P The initial supply curve, Qs = - 500 + 4P Initially…

Q: $ 40 MC ATC 25 20 17 9 12 15 18 22 Refer to the Figure. The profit of a single price monopolist is…

A: Equilibrium quantity is determined where MR = MC

Q: The graphs below show the production possibilities frontiers for sugar and corn in South Africa and…

A: (a) The production possibility curve depicts the combination of two goods that a nation can produce…

Q: A project's annual revenue will be $50,000 the first year and will decrease by $1500 per year over…

A: Given a specific return rate, the present value of an investment is its future cash flow value…

Q: . Discuss the concept of externality in health care using the example of vaccination against an…

A: An externality basically refers to a cost or benefit incurred or obtained by a producer or person…

Q: P75.50 to P20.00?

A:

Q: Output (Q) Total Revenue Total Cost $0 $10 30 40 2 60 60 3 90 70 4 120 75 150 85 180 110 7 210 140 8…

A: Output TR TC MR MC 0 $0 $10 - - 1 30 40 30 30 2 60 60 30 20 3 90 70 30 10 4 120 75 30 5…

Q: A farmer sells $150,000 of apples to individuals who take them home to eat and $75,000 of apples to…

A: A farmer is selling the apples to two individuals one is final consumer and one is the producer.

Q: Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)?   a.  1     b.  2/3…

A: MPC is marginal propensity to consume. It is percentage of income that is spent on consumption.

Q: The demand for pastries slopes downward and the supply of pastries slopes upward. Suppose that the…

A: Elasticity measures how responsive is quantity to changes in price level.

Q: have selected an account that yields 4.87% compounded every tl 4,125,000 that you have saved while…

A: *Answer:  Nominal interest rate = 4.87% Interest rate per quarter = 4.87%/4 = 1.2175% Effective…

Q: (Figure: Price Discrimination 2) The following figure shows a business that price discriminates. The…

A: Price discrimination is the defined in Economics as a practice of charging different prices from…

Q: Should imports to the United States be curtailed by, say, 20 percent to eliminate our trade deficit?…

A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…

Q: 2a) You have the following information about aggregate demand and aggregate supply. Complete the…

A: Aggregate demand is the sum of consumption, investment, government spending and net exports.

Q: oods and Services are exchanged and used As Final Consumption For Investment As Inputs in the…

A: Answer is given below

Q: Consider two completely identical homes, one located in France and one located in England. In…

A: The Real Exchange Rate (RER) represents the nominal exchange rate adjusted by the relative price of…

Q: For any given price, a firm in a competitive market will maximize profit by selecting the level of…

A: In competitive market, there are large number of firms selling identical goods.

Q: should nation-states relinquish responsibility for the social reproduction of migrant labor? Why or…

A: Protecting and assisting the poor and vulnerable, such as children, women, the elderly, people with…

Q: Claritas, SRI International and similar segmentation providers rely on black box methodology O True…

A: Black-box testing is a type of testing that ignores a system's or component's internal mechanisms…

Q: Lang Ron Marginal Coul Long-Run Average Total Cont Lone Star College-North Hants Iretructor Dr.…

A: In a monopoly, Marginal revenue lies below the demand curve which shows, the seller has to lower the…

Q: If a $100 billion increase in investment spending creates $100 billion of new income in the first…

A: The $100 bn increase in I creates $100 bn in the first round. If 10% is saved, then $90bn is…

Q: Maria and Shayla produce pickles and cheese. Maria's production function is Qp 425 -5Q0 Shayla's…

A: Comparative advantage occurs when a country is able to produce a particular good or a particular…

Q: According to the IMF, what are the world economic growth projections for 2013 and 2014?

A: World Economic Outlook is released by IMF that projects the global economic growth rate for…

Q: . Milton Friedman's view that the sole responsibility of a corporate executive is to increase…

A: Milton Friedman's view that the sole responsibility of a corporate executive is to increase profits…

Q: Why does monopoly need to be regulated?

A: A monopoly is the marketplace with only a single seller of a specfiic good as there is no close…

Q: A plant operation has fixed costs of'$ | 50,000 per year and variable costs of $50 per unit. When…

A: The phrase "break-even point" (BEP) refers to a circumstance in which a company's revenues and costs…

Q: Within a monopolistically competitive industry   Question 14 options:   firms can freely enter and…

A: In a monopolistic competition, there are many firms and buyers. Firms sell differentiated goods…

Q: The measurement of the efficiency of investment in inventory is referred to as: Question 6 options:…

A: The measurement of the efficiency of investment in inventory is referred to as gross margin return…

Q: 1) Consider the long-run production of shirts. The cost of the indivisible inputs used in the…

A: When all inputs are considered variable and production scale is flexible, the long-run average total…

Q: Let L represent the number of workers hired by a firm and let Q represent that firm’s quantity of…

A: Production function shows different combinations of labor and output produced using labor

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).