The decisions of buyers and sellers that affect people who are not participants in the market...
The decisions of buyers and sellers that affect people who are not participants in the market create
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Homework Answers
If the actions of the agents of the markets have impact on other agents outside the market then the this is known as externalities. If it have positive effect then it is positive externality if it have negative effect then it is negative externality. Market power is how one agent can change the endogenous variables by his action like monopolist. Profiteering is the actuon to make profit in the market. And market equilibrium is equality of market supply and market demand.
Answer B)
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The decisions of buyers and sellers that affect people who are
not participants in the market...
When a market is in equilibrium… A. the price determines which buyers and sellers participate in...
When a market is in equilibrium… A. the price determines which buyers and sellers participate in the market B. the good is produced by the sellers who produce at lowest cost. C. the good is consumed by the buyers who value it the most. D. (B) and (C) are correct E. (A), (B), and (C) are correct.
In a free market economy, the decisions of buyers and sellers are Select one: a. random...
In a free market economy, the decisions of buyers and sellers are Select one: a. random b. motivated by custom and tradition. c.coordinated by the government. d. guided by prices.
Question 2 If the government places a tax on sellers in a market, who will pay...
Question 2 If the government places a tax on sellers in a market, who will pay the tax? (A) Buyers and sellers equally. B Only buyers. C) It depends on the situation in the market. Only sellers. E More sellers than buyers.
Tax incidence refers to who “feels” the effects of a tax, buyers or sellers. On the...
Tax incidence refers to who “feels” the effects of a tax, buyers or sellers. On the example from the previous page, the $4 tax resulted in buyers paying $3 more (since the market price was $4 without the tax, and the price buyers pay with the tax is $7) and sellers receiving $1 less (since the market price was $4 without the tax and sellers receive $3 with the tax). So, we say the incidence of the $4 tax is...
Who bears the tax burden if the demand curve is perfectly elastic? a. Sellers b. Buyers...
Who bears the tax burden if the demand curve is perfectly elastic? a. Sellers b. Buyers c. Government d. Both sellers and buyers
Adam Smith taught that individual buyers and sellers who act in their own self interest frequently...
Adam Smith taught that individual buyers and sellers who act in their own self interest frequently promote society's interest. What assumption is needed for society's interest to be promoted? O A. There are no external benefits or costs. OB. Buyers and sellers can make informed decisions. OC. Markets are perfectly competitive. OD. all of the above
7. Effect of a tax on buyers and sellers Suppose the calculator illustrates the market for...
7. Effect of a tax on buyers and sellers Suppose the calculator illustrates the market for wine in the United States. The orange (upward-sloping) line represents the supply curve of wine, and the blue (downward-sloping) line represents the market demand. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. The market is initially in equilibrium. Then the government institutes a $11.60 per bottle tax...
Which of the following is true of a dealer market? Select one: a. Buyers and sellers...
Which of the following is true of a dealer market? Select one: a. Buyers and sellers are never brought together directly. b. It has centralized trading floors. c. It is a part of the broker market. d. Brokers execute the buy or sell orders in a dealer market.
A tax imposed on the sellers of a good will a. raise both the price buyers...
A tax imposed on the sellers of a good will a. raise both the price buyers pay and the effective price sellers receive. b. raise the price buyers pay and lower the effective price sellers receive. c. lower the price buyers pay and raise the effective price sellers receive. d. lower both the price buyers pay and the effective price sellers receive. Part B. When studying how some event or policy affects a market, elasticity provides information on the a....
A. Using the supply and demand equations given below, calculate the market clearing buyers’ and sellers’...
A. Using the supply and demand equations given below, calculate the market clearing buyers’ and sellers’ prices with no sales tax. D(P+)= 280 - 2P+ S(P3)= 40 + 4P3 B. Next suppose the government collects a 20% sales tax for each unit sold. Calculate the new market clearing buyers’ and sellers’ price.
In a free market economy, the decisions of buyers and sellers are Select one: a. random b. motivated by custom and tradition. c.coordinated by the government. d. guided by prices.
Question 2 If the government places a tax on sellers in a market, who will pay the tax? (A) Buyers and sellers equally. B Only buyers. C) It depends on the situation in the market. Only sellers. E More sellers than buyers.
Adam Smith taught that individual buyers and sellers who act in their own self interest frequently promote society's interest. What assumption is needed for society's interest to be promoted? O A. There are no external benefits or costs. OB. Buyers and sellers can make informed decisions. OC. Markets are perfectly competitive. OD. all of the above
7. Effect of a tax on buyers and sellers Suppose the calculator illustrates the market for wine in the United States. The orange (upward-sloping) line represents the supply curve of wine, and the blue (downward-sloping) line represents the market demand. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. The market is initially in equilibrium. Then the government institutes a $11.60 per bottle tax...
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