If demand curver is given by Qd=400-8P and industry is dominaned by large firms with marginal cost of R10 where each firm has marginal cost of MC=10+50q where q is output of a typical fringe firm, what is the supply curve equation
Q: 5) Externalities can be produced by A) efficient markets; inefficient markets C) consumers; firms D)…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Refer to the table below. Dates Aug 1929-Man 1933 May 1937-June 1038 Feb. 1045-Oct. 1945 Nov.…
A: The largest percentage of GDP decline in the US recession post Great Depression 1929 to 1939 =…
Q: If a price ceiling is set below the equilibrium price in a market, A. raioning will be necessary.…
A: Price ceiling is the price set by the government which is maximum that should be charged from the…
Q: 1.7 The hypothetical information in the table below shows what the values for real GDP and the price…
A: Monetary policy refers to the measures implemented by a nation's central bank to control the supply…
Q: Show illustration and explain the special cases of production functions "Inputs to production that…
A: In economics, the production function relates physical output of a production process to physical…
Q: Output (Income) 2,400 2,800 3,000 3,200 3,400 3,600 3,800 Consumption Net Spending Taxes(C=100+.9Yd)…
A: Aggregate demand: Aggregate demand is defined as the total demand for goods and services within an…
Q: Consider the plight of Bonget, a middle-aged professor facing retirement soon. Suppose that the…
A: If her future labor income were to increase by P 10,000, we need to determine how much consumption…
Q: Question 4 Consider a proposal to enhance production of tortillas en a taqueria. The new machine is…
A: Given that,Estimated cost of the new machine=$30 millionMaintenance cost per year=$1 millionAnnual…
Q: pose actual real GDP is $7.54 trillion, potential real GDP is $12.32 trillion, and the marginal…
A: The output gap is the difference between Actual output and potential output. If economy is below its…
Q: Refer to the figure above. If cars are capital intensive and furniture is labor intensive, then…
A: H.O theorem explains reason behind the comparative advantage. Factor endowment explains that a…
Q: Let F be the fixed cost of production, let VC be the variable cost of production, C be the total…
A: A tabular representation or a chart that outlines the relationship between the level of output or…
Q: Supports the analysis with visual aids such as charts, graphs, or tables when applicable on global…
A: Hunger and economic development are mutually exclusive. Successful growth approaches can assist…
Q: Answer the following questions using this table of information: Jun-2021 Sep-2021 Dec-2021 Price…
A: Australia (country A) maintains one of the planet's major mixed-market economies, characterized by a…
Q: Ming lives in Seattle and recently bought a $125 ticket to attend a Seattle Seahawks game. He is a…
A: Opportunity cost is the value of the next best option that is lost or given up when a choice is made…
Q: Distinguish among private efficiency, social efficiency, social welfare, and sustainability. Nuclear…
A: All parameters such as private efficiency, social efficiency, social welfare, and sustainability are…
Q: 1. Two alternative programs to save 50 more lives per year entail providing more cardiac intensive…
A: A cost-benefit analysis compares an intervention's costs and benefits, which are both expressed in…
Q: Consider the per-worker production function graph. If there is an increase in capital per hour…
A: A production function is a mathematical representation of the relationship between inputs and…
Q: Consider a bargaining situation where the pie can be allocated only in three ways: The first player…
A: In game theory, a subgame perfect equilibrium (SPE) is an answer idea that applies to sequential…
Q: Which of the following is one of the four economic ginciples of individual decision making? O…
A: Economic principles refers to basic bits of insight or regulations that give a system to grasp how…
Q: Alec and Ellie are the only detectives in the town of Broadchurch. They work together. Assume…
A: Answer:Given,NameProduction of interviews in 2 hoursProduction of files of paperwork in 2…
Q: Calculate the Net Present Value of this project according to Team #1. (Let's call it the "base-case…
A: This question is about calculating the Net Present Value (NPV) of a project. The NPV is a measure…
Q: If the exchange rate moves from $1 for one Euro to $1.50 for one Euro, then Select one: a. it…
A: When the exchange rate between two currencies fluctuates, it can have a variety of consequences for…
Q: For each of the proposals, use the previous graph to determine the new number of laboratory aides…
A: Equilibrium in the labor market occurs where demand meets supply. Employers demand labor and workers…
Q: Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and…
A: The value of alternative opportunities foregone and sacrificed to acquire one unit of a commodity is…
Q: To graphically represent this, you can create a simple Keynesian cross diagram. On the vertical…
A: The Keynesian cross diagram is a graphical representation of the Keynesian economics model, which…
Q: Automatic stabilizers have the effect of Group of answer choices eliminating all recessions.…
A: Automatic stabilizers are a type of fiscal policy that offsets fluctuations in economic activity…
Q: Based on this model, households earn income when purchase in factor markets. Suppose Ginny earns…
A: An economic concept that illustrates the continuous movement of money and goods/services within an…
Q: 1.2 Describe the channels through which open market purchases by the Fed affects output in an open…
A: Disclaimer- “Since you have asked multiple questions, we will solve the first question for you as…
Q: Assume the price of Silver is currently $18 per ounce and is increasing at 6% per year. a. What…
A: Present value (PV) represents the current value of a future cash flow, discounted to reflect its…
Q: You deposit a $1,000 scholarship check in the bank. If the required reserve ratio is 10 percent,…
A: When you deposit a $1,000 scholarship check in the bank and the required reserve ratio is 10…
Q: Which of the following is one of the four economic principles of individual decision making? O…
A: Economic principles are basic bits of insight or regulations that give a system to grasp how people,…
Q: Is the IRR Beta correct
A: Internal rate of return is a discount rate that is used in project analysis that makes the net…
Q: When computing the cost of the basket of goods and services purchased by a typical consumer, which…
A: CPI represents Consumer Price Index. It is an action used to follow changes in the price level of a…
Q: The accompanying graph represents the Keynesian cross for a country, where the planned aggregate…
A: Aggregate expenditure refers to the total spending in an economy on final goods and services during…
Q: hat do you understand by the development model of Rostow? Give answer in short details onl
A: Development can be described as a multidimensional process that includes social, economic,…
Q: With help of hypothetical MC, ATC and Demand curves of a perfectly competitive firm, illustrate a…
A: In a perfect competition market equilibrium quantity is achieved at P= MC. ATC stands for Average…
Q: In one hour of cooking time, Iron Chef Morimoto can make 120 dumplings or 60 empanadas. Iron Chef…
A: To determine the acceptable terms of trade for both Iron Chef Morimoto and Iron Chef Flay, we need…
Q: Use the following table for this question. Enter Big Brew decision High Price Big Brew makes $3…
A: If both firms colludes, then they would together try to maximize the joint profits
Q: 6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops…
A: The demand curve depicts the inverse relationship between price and quantity demanded, keeping other…
Q: Draw a demand and supply curve for Brinsh pounds (on the vertical axis plot rand per British pound).…
A: A foreign exchange transaction is the exchanging of a particular currency for another for an array…
Q: Can you explain the ( Compare the values ) part and how Q = 6.5 is profit maximized?
A: In order to find the find the profit maximized we use the first derivative test , that gives us…
Q: explain the difference between macroeconomics and microeconomics.
A: Economics is a field of study within the social sciences that examines the decision-making processes…
Q: Write India's hosting of G20
A: India's hosting state the G20 summit in 2023 marked a significant milestone within the country's…
Q: Suppose that velocity rises but incomes have not changed. What do you think happened to interest…
A: Keynesian theory, also known as Keynesian economics, is an economic theory developed by the British…
Q: IS: Y= C = 800+ 0.8(Y-T) I = 900-50r NX = 500 - 50€ M/P = Y-125r G = 500 T = 500 M = 6000 P = 3 r* =…
A: In economics, "IS" and "LM" refer to two curves that represent the equilibrium conditions in the…
Q: Suppose over some period of time the money supply tripled, velocity fell by half, and real GDP…
A: The quantity theory of money is an economic principle that asserts that the multiplication of the…
Q: If people are willing to save more money in “banks,” how will this market be affected? (i.e., which…
A: This question is about the loanable funds market, which is a model used to represent the market for…
Q: List the first eight assumptions of the free market.
A: endsourceThe assumptions of the free market can vary depending on the source, but here are eight…
Q: 1. Two alternative programs to save 50 more lives per year entail providing more cardiac intensive…
A: Cost-benefit analysis portrays the systematic comparison of the cost acquired and benefits earned…
Q: How many trillions of dollars did the government add to the debt in 2022?
A: National debt refers to the total amount of money that a government owes to creditors, both domestic…
If demand curver is given by Qd=400-8P and industry is dominaned by large firms with marginal cost of R10 where each firm has marginal cost of MC=10+50q where q is output of a typical fringe firm, what is the supply curve equation
Step by step
Solved in 3 steps with 2 images
- Suppose that demand for a particular style of handmade Rwandan baskets is Qd = 1700 – 10P. Each basket maker has the following cost function: TCi = 1000 + 50 qi + .1 qi^2. Given this information, find the market outcomes under the various market structures below Perfect competition, long-run. Given the same cost functions above, find the long-run equilibrium quantity per firm, the LR market price, market quantity and equilibrium number of firms. What is the profit or loss per firm? What is MCi and ATCi?Consider a set of 1000 companies operating in a competitive market. The supply curve for this market is given by O = 20+2P and the demand curve is given by D = 280-4P, where quantity Q is measured in millions of tons and Price P is measured in monetary units. Considering that the marginal cost of the individual firm is given by 2Q, the quantity Q being measured in thousands of tons, we ask: a) Sketch the market equilibrium and the equilibrium of an individual firm. b) What is the situation of this market at that particular moment. c) Make considerations about the long-run equilibrium trend of this market.I) Consider the market for a particular type of financial service. Assume 1) all firms are identicaland 2) it is a perfectly competitive market. Further, assume the industry is a constant costindustry. Each firm’s total cost function is TC = 2q^3 – 30q^2 + 150q. (i) What is the long run equilibrium price and quantity for each firm?(ii) The industry demand function is Qd=10000-10p. How many firms are there in the industry in thelong run?(iii) The demand has changed to Qd=6000-4p. How many firms are there in the industry now in the longrun?
- Two farmers produce milk for local town with local milk demand given by Q=100-1/3P (P denotes price measured in Rands, Q denotes the quantity measured in litres). Both farmers have the same cost function given by TC=150+2q (where q denotes output)a. What if farmer 1 is a leader and farmer 2 a follower, determine the price, quantity and profits made by these two farmersA town has 8 restaurants all selling the product "dish of the day" in a perfectly competitive market. The weekly demand for "dish of the day" has been estimated to: D: Q = 4,620 – 30P. The total costs of each restaurant are given by: TC = 0.1q², %3D where q is the restaurant's weekly production of "dish of the day". b) Show that the market supply curve can be described by: S: P = 0.025Q. c) Calculate the equilibrium price and equilibrium quantity in the market.Suppose that there is "dominant" firm with total cost function of c(q) = 100 + 10g + 0.25q². It faces a market demand function (inverse) of p = 100 – 0.5Q, where Q indicates total market supply. This dominant firm has to deal with 10 fringe firms, each of whom behaves perfectly competitively. Each fringe firm has a marginal cost dc(q) = 20q + 25 function dq • alculate the supply function of the fringe firms • Using this, calculate the residual demand function of the dominant firm. • Derive the marginal revenue function of the dominant firm. • Find the profit-maximizing price of the dominant firm. • How much does the competitive fringe supply to the market?
- The average avoidable cost for a fringe firm is AAC(q) = 20/q +5q. The marginal cost function for a fringe firm is MC = 10q. There are 10 fringe firms. The marginal cost of the dominant firm is 2 and the demand function is Q = 100 − P. What is the supply function of the fringe? What is p0, the minimum price at which the fringe will supply? What is the residual demand function for the dominant firm? What is the profit-maximizing price of the dominant firm? Compare monopoly profits to the profits of the dominant firm. Which market structure is socially preferable, dominant firm or monopoly? Why?A local microbrewery has total costs of production given by the equation TC=500+10q+5q^2. This implies that the firm's marginal cost is given by the equation MC=10+10q (you do not need to be able to show this). The market demand for beer is given by the equation QD=105 – (1/2)*P. a) Write the equations showing the brewery's average total cost .For the following total-profit function of a firm: = 144X – 3X² – XY – 2Y² + 120Y – 35 Determine the level of output of each commodity at which the firm maximizes its total profit.Determine the value of the maximum amount of the total profit of the firm. show a step-by-step complete solution
- • Find the profit-maximizing price of the dominant firm. • How much does the competitive fringe supply to the market?Q6. A firm faces a market demand equation Q= 30 - P and a total cost function of TC (Q) = Q/2 with a marginal cost MC(Q) = Q. • What type of firm is this? How do you know? Find the profit maximizing price and quantity of the firm while mentioning the condition that results in profit maximization. • Calculate the profit made by the firm in part (b) Is the firm maximizing welfare? If not, what price would the firm now charge?A local microbrewery has total costs of production given by the equation TC=500+10q+5q2. This implies that the firm's marginal cost is given by the equation MC=10+10q (you do not need to be able to show this). The market demand for beer is given by the equation QD=105 – (1/2)*P. a) Write the equations showing the brewery's average fixed costs .