Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Process of a perfectly competitive market
The market for beet sugar is purely competitive and entry is free. There are 1000 producers in the industry each of which has a total cost function given by:
TC= 240q - 20q² +q³
The demand: Q= 21,280 - 2P
1- determine the industry's supply curve and graph it.
Suppose the normal production process for beet sugar uses high-sulfur oil for fuel and releases 2 units of sulfur dioxide to the air for every ton of beet sugar produced.2- then the market reaches short-run equilibrium, how many units of sulfur dioxide does the industry dump into the air per week? Show calculations.3- An anti-pollution law is passed which requires the industry to burn only low-sulfur oil. The use of low-sulfur oil has the effect of adding $225 to the cost of every ton of beet sugar produced. Otherwise, every productive operation is unchanged. How will this regulation affect the industry supply curve? Draw the new supply curve.4- When the market reaches (short-run) equilibrium with the regulation in force, how much pollution will the industry produce each week, given that use of low-sulfur oil reduces pollution to 0.75 units of sulfur dioxide per unit of output? Show calculations.5- What is the effect of the regulation on the price paid by the buyer of beet sugar?6- Without regulation, how much profits would each firm be making?7- If there is free entry, what would be the long-run industry price and quantity and what would be the number of firms in the industry (without regulation)?8- Describe the process in 7 above that would drive the industry into long-run equilibrium.
A large rear dump truck working in a coal mining operation under good conditions has a present purchase price, compute the estimated repair cost per operating hour.
What are primarily intended to address the problem of insuring people who do not have health insurance? Would a public national health insurance system reduce total spending on health care in our economy?
Construct a table showing the marginal failure reduction (in units) and the dollar value of these reductions for each inspector hired.
Elucidate the own price elasticity for ATM fees charged to non-customers. At the current ATM fee, should you raise or lower your ATM fees.
Assume an economy in which the reserve ratio is 15 percent, people hold 10 percent of their deposits in the form of cash, and there are no other leakages.
Use the above data to answer the following questions-If the price of entertainment increases by 2 percent, what will happen to the quantity of food demanded? Please be specific
Macroeconomics questions, discuss the short-run and long-run effects, Keynesian model, Distinguish between ongoing demand pull and ongoing cost push inflation.
Airway Express has evening flight from Los Angeles to New York with average of 80 passengers and return flight the next afternoon with average of 50 passengers. Should the airline remain in business?
List and explain the sources of expenditures in economy by focusing on the 4 major sectors of economy.
Explain the differences among the long run and short run aggregate supply curves. Consider these differences and explain how an expansionary gap occurs.
Explain how many years would it take to reduce the unemployment rate by 3 percentage points, assuming that the current GDP growth rate will continue into the future.
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd