why is the restaurant industry is often used as an example of the market structure of monopolistic competition. How does this affect the long and short run? address all aspects and assumptions of the model of monopolistic competitio

Q: d you have left over to buy an apple. Or something healthy. ost the right answers on the discussions…

A: Total utility is the general fulfillment that a buyer gets from the utilization of specific labor…

Q: Why does the world need to take sustainable development efforts and studies seriously, and how does…

A: Sustainable development is defined as a country's economic growth that does not degrade the…

Q: n a graph, market producer surplus is equal to what area?   Question 11 options:   a)  The area…

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

Q: An equation for Aggregate Expenditure is: AE = $3600 – 0.8Y, n equilibrium, Income 'Y' = Aggregate…

A: The aggregate expenditure = C+I+G+NX. C= consumption expenditure. I= investment expenditure. G=…

Q: For a product with external benefits like vaccines (positive externality), which of the following is…

A: Externalities: Externalities are the cost or benefits that are incurred or received by the third…

Q: QUESTION 2 Other things the same, when the price level rises, interest rates O a. fall, which means…

A: When the price level rises, the consumer purchasing power falls and consumer can buy less with same…

Q: Vicky consumes cocoa and cheese. Cocoa is sold in an unusual way. There is only one supplier, and…

A: Price of good X2 is an increasing function of X2

Q: 1. Consider the following game between Player I and Player 2. The game will be repeated infinitely…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: You are an owner of a car wash, and you meet with other neighborhood car wash owners. Consider that…

A: Demand is the quantity of a product, item, commodity, or service that consumers are willing and able…

Q: A bag of fertilizer has a marginal revenue product of $100. The current price in the store is $150.…

A: Marginal revenue product refers to the revenue generator by the additional unit of labor. When the…

Q: rian uses wool (K) and labour (L) to produce t-shirts (q). The production function is: q =…

A: q = min{1/3L, 2K}. Brian uses 1 kg of wool and 3 hours of labor to produce 1 t-shirt

Q: Explain what effect a reduction in the future expected interest rate will have on the IS curve and M…

A: The IS-LM model, is "investment-savings" (IS), and "liquidity preference-money supply" (LM) is a…

Q: Explain how a person can be employed and still be living under the poverty threshold. Please help,…

A: Poverty is defined as a standard under which a person lacks basic means to get necessities of life.…

Q: ELASTICITY -What type of elasticity occurs and what is the financial result if: • The elasticity is…

A: When the value of elasticity is less than 1, elasticity is said to be inelastic.

Q: Why did China tried to limit depreciation by using dollars to buy yuan? Why didn't it work?

A: The conversion of 1 country's currency into another is understood as foreign exchange. the worth of…

Q: In how many ways can a picture be taken for a family of six?The two parents are side by side, two…

A: Since the two parents are side by side, they can be regarded a single entity. Also, because the two…

Q: Suppose the supply and demand for wallets is given by the following equations: Demand: P 49.75 -…

A: Equilibrium in the market occurs where quantity demanded equals quantity supplied.

Q: Assume you borrow $2,000 now at 7% per year for 10 years and you must repay the loan in equal yearly…

A: Given: Present value (PV)=$ 2000 Number of years (n)=10 Interest rate (r)=7%

Q: Which of the following statements describes Principle 6: Markets are usually a good way to organize…

A: A market refers to the platform or a place for the people to interact with each other for making an…

Q: uppose that there two types of consumers: students (S) and non-students (NS). The demand for a trip…

A: Individual demand refers to the quantity demanded by a single consumer where market demand refers to…

Q: er production function is given by y = as = 0.25, d= 0.1, and n = 0.02. ose that in country A, z =…

A: We have, y = zk.3, s = 0.25 d = 0.1 n = 0.02.

Q: According to World Bank (2012), in Ethiopia, the poorest 20 percent of population received 9.3…

A: Answer: Given, Data of Ethiopia: Share of poorest 20% in income = 9.3% Share of richest 20% in…

Q: 1) Maximize following equation: w (x,y,) =-3x2+30x-6y2 Subject to x+y=5 2)  Find dP/dQ P=5Q+Q2…

A: To maximize we set the lagrangian as..

Q: Consider an economy described by the IS-LM model. You are given the following data: MPC = 0.6, C * =…

A: Goods  market is in equilibrium where Y=AE And money market is in equilibrium where real money…

Q: In the Aggregate Demand and Aggregate Supply model, an increase in consumer confidence will: O…

A: Aggregate demand curve slopes downward, it shows an inverse relationship between price level and…

Q: Eccles Incorporated (based in Ogden) manufactures precision steel sprockets for applications…

A:

Q: Eccles Incorporated (based in Ogden) manufactures precision steel sprockets for applications…

A:

Q: Hong Kong’s prosperity has become increasingly dependent upon its capacity to play that role…

A: Hong Kong, a previous British settlement that got back to Chinese rule in 1997, is administered…

Q: Alex uses wool (K) and labour (L) to produce t-shirts (q). The production function is: q = min{L/4,…

A: q = min{L/4, K0.8 }. Brian uses 1 kg of wool and 3 hours of labor to produce 1 t-shirt

Q: The table below shows the marginal costs of the last croissant produced by four different bakeries.…

A: Each  bakery is ready to sell the 100 units of the good. So the produce surplus of a bakery will be…

Q: Explain backwards induction in a sequential market entry game

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

Q: Which of the following best describes economies of scale? O They refer to the increase in output…

A: In the short run atleast one input is fixed and in the long run all inputs are variable.

Q: Help m

A: Given Nominal Income for 3 years Index number of CPI Real income for each year = Nominal income *…

Q: Hyperinflation has struck your country! The economy is experiencing 1.41% inflation every minute.…

A: Inflation is rise in the general price level over periods of time . It reduces the value of money…

Q: Your manager has decided to invest $4350 dollars at an annual interest rate of 8.0% to buy raw…

A:

Q: Jse the information from the previous table to fill in the following table. Nominal GDP Real GDP…

A: Real GDP growth is the value of all goods produced in a given year; nominal GDP is value of all the…

Q: Based on 1337 data points, the following equation was estimated using OLS.From this fragment of data…

A: Given  Estimated OLS equation: Ghat = 11.7+2.5W  For 445th data point, value of W is 32. We have to…

Q: Suppose that there is a nonrenewable resource that can be consumed today (period 1) or tomorrow…

A: The difference between renewable and nonrenewable resources is that renewable resources can be…

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

A: It refers to a market scenario where there is a large number of buyers and sellers dealing in a…

Q: If you were managing a monopoly, and small entrant tried to enter your market, explain why it might…

A: We show that monopoly is a type of màrket characterized by a single seller selling different…

Q: A certain operation is now performed by hand, the labor cost per unit is P 54 and annual fixed…

A: Explanation: Let # of units per year = X Operation by hand Labor cost per unit = P 54 Annual fixed…

Q: O Question 12 The equation for the 1.5 mile run/jog test is: VO,max (mi/kg/min) = 3.5 + [483 + (time…

A:

Q: Country A's payoff If majority invest If majority does not invest Country A does not invest Country…

A: Given: Country A's payoff Country A invest Country A does not invest If majority invest 1 2…

Q: What is the difference between the Budget Constraint and Production Possibilities Frontier? How do…

A: Overview Let's take a closer look at the frontier of manufacturing possibilities and the curve's…

Q: total of Php 5,000 is invested at a simple interest rate of 6% for 4 months. How much interest is…

A:

Q: In the event of strong economic growth in China which relationship/s will be affected? Short Run…

A: A strong economic growth in China implies a rise in the total production capacity of a nation. This…

Q: Two lathes are being considered in the manufacture of certain machine parts. Data is given below,…

A: The permissible minimal rate of return, The minimal rate of return on a project that a management or…

Q: TT = 100kl - 5k²1² + 2k + 41 dk and dn' dl Find dn dk = 100 – 10kl + and dn dl 100 – 10lk? dn dk dl…

A:

Q: a. Define income elasticity, and state its range of values for normal goods. demonded of nommot guo…

A:

Q: The substitution effect can be measured holding constant. O the price of all goods O income the…

A: The substitution effect is the change in consumption when the price of the good changes keeping…