What are the market forces leading to this quantity

Assignment Help Business Economics

Reference no: EM13156193

(a) suppose you are a benevolent dictator of your own country and you are interested in maximizing the total surplus in your country's conomy. Suppose you control the quantity that is produced and sold in the market. Graphically illustrate the total surplus associated with 2 randomly chosen quantities in the market (put this on two separate diagrams).

(b) now choose the quantity that maximizes total surplus. Show this quantity on a graph and indicate total surplus.

(c) is this the same quantity that the competitive market would have provided in equilibrium? What are the market forces leading to this quantity?

Reference no: EM13156193

Questions Cloud

Scientists have learned about how genes can cause disease : Scientists have learned a lot about how genes can cause disease. Maybe one day scientists will be able to remove a gene that causes a defect and replace it with a "normal" gene. They can already do this for some genes. How nice would it be to remove ..

Find the coefficient of determination : The test scores of 6 randomly picked students and the numbers of hours they prepared are as follows: The equation of the regression line is y(^on top)=1.06604x+67.3491. Find the coefficient of determination.

Explain what is the atomic mass of copper : The element copper has an atomic weight of 63.5 and consists of two stable isotopes copper-63 and copper-65. The isotope copper-63 has an atomic mass of 62.9 amu and a percent natural abundance of 69.1 %.

Taxable stock dividend problem : Judd Harrison owns 200 shares of stock in the Widget Company for which he paid 1600 in 1999. The board of directors of the company decided to pay a 10% stock dividend in April 2010, for which Judd received 20 shares of stock. Was this a taxable st..

What are the market forces leading to this quantity : is this the same quantity that the competitive market would have provided in equilibrium? What are the market forces leading to this quantity?

Calculate the concentrations of all species : At 25°C, K = 0.090 for the following reaction. H2O(g) + Cl2O(g) reverse reaction arrow 2 HOCl(g) Calculate the concentrations of all species at equilibrium for each of the following cases.

Strategies and recommendations to the cio : Explain in detail why you believe the risk management, control identification, and selection processes are so important, specifically in this organization and draft a one page Executive Summary that details your strategies and recommendations to t..

What is the gap for tubulin : Throughout the course you have heard about the Ras GTPase family. Tubulin is also a GTPase that is distantly related to this family. Tubulin dimers hydrolyze GTP at a very slow intrinsic rate.

Explain the element lanthanum has two stable isotopes : The element lanthanum has two stable isotopes, lanthanum-138 with an atomic mass of 137.9 amu and lanthanum-139 with an atomic mass of 138.9 amu

User Account

All Pages