Homework Answers
Ans: d) Because it determines the inherent usefulness and value of the products we buy.
Explanation:
Market equilibrium does not describe the usefulness or value of the product that the consumer purchase. Equilibrium point is an ideal point from both the consumer's and producer's point of view.
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Which of the following is not a reason why market equilibrium is significant? Select one: a....
Explain why the equilibrium price and quantity is Pareto efficient. As part of your explanation, you...
Explain why the equilibrium price and quantity is Pareto efficient. As part of your explanation, you must explain what is Pareto efficiency and show that it fits this definition. Pareto efficiency refers to a market equilibrium that is perfectly competitive. A market is considered Pareto efficient where any change to the price from its equilibrium level would cause in a reduction of the total surplus (area shaded in blue). Thus, any reduction in the total surplus would cause a change...
12. A market is said to be in equilibrium when: A Quantity demanded equals quantity supplied...
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Explain why the equilibrium price and quantity is Pareto efficient. As part of your explanation, you...
Explain why the equilibrium price and quantity is Pareto
efficient. As part of your explanation, you must explain what is
Pareto efficiency and show that it fits this
definition.
Pareto efficiency refers to a market equilibrium that is
perfectly competitive. A market is considered Pareto efficient
where any change to the price from its equilibrium level would
cause in a reduction of the total surplus (area shaded in blue).
Thus, any reduction in the total surplus would cause a change...
Explain why the equilibrium price and quantity is Pareto efficient. As part of your explanation, you...
Explain why the equilibrium price and quantity is Pareto
efficient. As part of your explanation, you must explain what is
Pareto efficiency and show that it fits this
definition.
Pareto efficiency refers to a market equilibrium that is
perfectly competitive. A market is considered Pareto efficient
where any change to the price from its equilibrium level would
cause in a reduction of the total surplus (area shaded in blue).
Thus, any reduction in the total surplus would cause a change...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
1. Which of the following best explains why the number of firms is fixed in the...
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Week 2 Case Study: Supply and Demand Overview A market exists whenever buyers and sellers meet...
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1- Consider the following characteristics of the market for soup. Which characteristic(s) might allow a seller...
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need answer with why thank u 5. Which of the following statements is false of foreign...
need answer with why
thank u
5. Which of the following statements is false of foreign aid? A) Foreign aid is commonly provided to sub-Saharan Africa. B) Foreign aid may not efficient in cradicating poverty because of poverty trap. C) In some instances, foreign aid can be beneficial for dictators. D) The concept of foreign aid was introduced in the twenty-first century. 6. Which of the following is likely to shift the demand curve for carpenters rightward, assuming all else...
12. A market is said to be in equilibrium when: A Quantity demanded equals quantity supplied B. Production costs equal revenues from sale of the output C. The number of sellers equals the number of buyers D. People's needs are fully met 13. At the equilibrium prices: A. There are shortages but no surpluses B. There are surpluses but no shortages C. The economic problem of scarcity is no longer relevant D. There are no shortages or surpluses 14. An...
Explain why the equilibrium price and quantity is Pareto
efficient. As part of your explanation, you must explain what is
Pareto efficiency and show that it fits this
definition.
Pareto efficiency refers to a market equilibrium that is
perfectly competitive. A market is considered Pareto efficient
where any change to the price from its equilibrium level would
cause in a reduction of the total surplus (area shaded in blue).
Thus, any reduction in the total surplus would cause a change...
Explain why the equilibrium price and quantity is Pareto
efficient. As part of your explanation, you must explain what is
Pareto efficiency and show that it fits this
definition.
Pareto efficiency refers to a market equilibrium that is
perfectly competitive. A market is considered Pareto efficient
where any change to the price from its equilibrium level would
cause in a reduction of the total surplus (area shaded in blue).
Thus, any reduction in the total surplus would cause a change...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
need answer with why
thank u
5. Which of the following statements is false of foreign aid? A) Foreign aid is commonly provided to sub-Saharan Africa. B) Foreign aid may not efficient in cradicating poverty because of poverty trap. C) In some instances, foreign aid can be beneficial for dictators. D) The concept of foreign aid was introduced in the twenty-first century. 6. Which of the following is likely to shift the demand curve for carpenters rightward, assuming all else...
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