QUESTION The widget market is competitive and includes not transaction costs. Five suppliers are willing to sell one wide at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20, $24, and $29. What is the equilibrium price and quantity in […]
Date: September 2nd, 2020
QUESTION There are two firms in an industry, engaged in Cournot competition. The firms compete repeatedlyin successive time periods. Occasionally, one of the firms is required to produce a certain amount(due to production constraints). This amount is known to both firms before the other firm has thechance to choose its output. At other times, the […]
Date: September 2nd, 2020
QUESTION Open-Response Homework Problem 24.5 Sandra Bullock, taking on one of her more desperate roles, acceptsa part in an extremely mediocre movie. To make up for the ill-developed plot, the director chooses to increasethe quality of cinematography by actually shooting the film in orbit 40,000 meters above the surface of the earth.The effect is quite […]
Date: September 2nd, 2020
QUESTION Barriers to entry might include all of the following EXCEPTA) patents and copyrights.B) ownership of essential resources.C) government franchise.D) positive economic profits.2.Economies of scale may be a barrier to entry in a situation in whichA) only small-scale production can lower the average cost of production.B) only small-scale production can meet the constantly changing market […]
Date: September 2nd, 2020
QUESTION Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burnsâ power company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he is consistently losing money.Show this outcome in a completely labeled graph. Clearly identify all parts of your graph, including […]
Date: September 2nd, 2020
QUESTION A shift outward in the demand curve always results in an increase in total spending (price times quantity) on a good. On the other hand, a shift outward in the supply curve may increase or decrease total spending. ExplainCan I get a graph with the answer, so I understand it ANSWER: REQUEST HELP […]
Date: September 2nd, 2020
QUESTION Leviâs has an advertising slogan: âQuality never goes out of style.â Consumers can buy other kinds of jeans, including off-brands. The manufacturers of off-brand, or generic, jeans do not advertise. Assume that the average total cost of producing Leviâs and generic jeans is the same.Create a graph showing the price (labeled as P1) that […]
Date: September 2nd, 2020
QUESTION Suppose GDP equals $10 trillion,consumption equals $6.5 trillion,the government spends $2 trillion and has a budget deficit of $300 billion. Find public saving, taxes, private saving,national saving, and investment ANSWER: REQUEST HELP FROM A TUTOR
Date: September 2nd, 2020
QUESTION You are hired by the Fair Work Commission Australia as a consultant to examine issues relating to pay and performance. Your task is to provide a report detailing findings from the economic literature on the effectiveness of pay for performance initiatives in generating improved outputs (or business outcomes), how performance should be evaluated and […]
Date: September 2nd, 2020
QUESTION Suppose creatures were to evolve on a planet orbiting a star somewhat hotter than the Sun, letâs say an F-type star. To what wavelength ranges, approximately, do you think their vision would most likely be sensitive to? ANSWER: REQUEST HELP FROM A TUTOR
Date: September 2nd, 2020
