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Suppose the federal finance minister wants to pass a law that would...
Suppose the federal finance minister wants to pass a law that would require all monopolistically competitive...
Suppose the federal finance minister wants to pass a law that would require all monopolistically competitive firms to operate at their efficient scale. If this law were to pass and be enforced, what would we expect would happen to monopolistically competitive firms? Question 31 options: They would see their costs increase. They would have to lower their production. They would require subsidies to stay in business. They would have to exit the market.
please answer all questions! In the short run, a firm in a monopolistically competitive market operates...
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
Hey, I need help answering these questions, please provide your reasoning to each thanks! 1. Policymakers...
Hey, I need help answering these questions, please provide your reasoning to each thanks! 1. Policymakers are discussing various proposals regarding how to deal with natural monopolies. Transportation Minister Gaston wants to regulate natural monopolies by equating price with average total cost. Gaston contends that such a policy will ensure that monopolies make every effort to reduce costs. Finance Minister Chen wants the government to own natural monopolies. Chen argues that government-owned monopolies usually do a better job of holding...
Please help with these questions Question 37 0.4 pts Use the following scenario to answer the...
Please help with these questions
Question 37 0.4 pts Use the following scenario to answer the following questions: Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas. Carmela's Churros currently is taking in $40,000 in revenues, and has $15,000 in explicit costs and $25,000 in implicit costs. Holding all else constant, the price of churros in this market will stay where it is. increase in the short run decrease in the long run. decrease in the...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
please, choose the right options to these questions. Explanation is NOT NEEDED. If the income elasticity...
please, choose the right options to these questions. Explanation is NOT NEEDED. If the income elasticity of demand for a good is 0.59, then it is what type of good? Price elastic. Price inelastic. Income elastic. Income inelastic. If the equilibrium price of aspirins is $2.50 for 250 tablets and the government imposes a rise ceiling at 2.00$ for 250 tablets, the eventual result will be a (an) Surplus. Shortage. Accumulation of inventories of unsold aspirins. None of the above....
ONLY ANSWER PLEASE! Assume you are told there is an increase in the demand for electric...
ONLY ANSWER PLEASE! Assume you are told there is an increase in the demand for electric cars. Based on this information, what would you predict in the market for electric cars? a) The equilibrium price will decrease, and the equilibrium quantity will decrease. b) The equilibrium price will increase, and the equilibrium quantity will increase. c) The equilibrium price will increase, and the equilibrium quantity will decrease. d) The equilibrium price will decrease, and the equilibrium quantity will increase. A...
Please answer and explain the steps involved in each. 20. The rate of product transformation refers...
Please answer and explain the steps involved in each.
20. The rate of product transformation refers to a. how a consumer can trade one good for another while still maximizing his or her utility. b. how a firm can substitute one input for another and still maintain the same production level. c. how production of one good can be substituted for another while still using a fixed supply of inputs efficiently. d. how quickly a firm can produce a final...
22. Suppose that price is below the minimum average total cost (ATC) but above the minimum average variable cost (AVC) a...
22. Suppose that price is below the minimum average total cost (ATC) but above the minimum average variable cost (AVC) and that the market price is expected to rise at least to ATC in the near future. In the short run, a firm that is a price-taker would: a. immediately shut down and get out of the industry. b. continue to produce a quantity of output such that its marginal revenue equals marginal cost. c. shut down temporarily, in hopes...
please finish all questions have been informed that the price is less than 1. To increase total revenues, 9. You...
please finish all questions
have been informed that the price is less than 1. To increase total revenues, 9. You are the sales manager for a software company elasticity of demand for your most anular software is less than you should: A. Increase the price of the software B. Decrease the price of the software C. Hold the price of the software constant D. Increase the supply of the software 10. Which of the following factors will make the demand...
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
Please help with these questions
Question 37 0.4 pts Use the following scenario to answer the following questions: Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas. Carmela's Churros currently is taking in $40,000 in revenues, and has $15,000 in explicit costs and $25,000 in implicit costs. Holding all else constant, the price of churros in this market will stay where it is. increase in the short run decrease in the long run. decrease in the...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
Please answer and explain the steps involved in each.
20. The rate of product transformation refers to a. how a consumer can trade one good for another while still maximizing his or her utility. b. how a firm can substitute one input for another and still maintain the same production level. c. how production of one good can be substituted for another while still using a fixed supply of inputs efficiently. d. how quickly a firm can produce a final...
please finish all questions
have been informed that the price is less than 1. To increase total revenues, 9. You are the sales manager for a software company elasticity of demand for your most anular software is less than you should: A. Increase the price of the software B. Decrease the price of the software C. Hold the price of the software constant D. Increase the supply of the software 10. Which of the following factors will make the demand...
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