How market power causes the market failure. When is the market doesn't achieve social welfare?
In: Economics
Texas Government:
In terms of controlling statewide offices, how do the various political parties fare?
In: Economics
There seems to be a surge in national debt during the GW Bush and Obama administrations. Why is that?
In: Economics
A discussion of an economic policy area where the line between state and national control is not working.
In: Economics
What are the pros and cons of existing U.S. data privacy laws and why do you support or oppose reforming these laws with an alternative such as the GDPR?
In: Economics
How are the budget powers of the Texas governor characterized?
In: Economics
2/a/Perfect Competition
Firm cost equation: TC = 64 - 4Q + Q2
Market demand: Q = 608 - 4P
Solve for how many firms serve the market. Enter as a value.
b/Producer surplus is the:?
-Area below the market price and above the supply curve
-Minimum amount consumers will pay for a good.
-Area below the demand curve and above the market price of the good.
-Area above the supply curve but below the demand curve.
c/If demand is P = 80 - 2Q and supply is P = 20 + 3Q, what is
the value of the Producer Surplus?
Enter as a value.
In: Economics
Both the perfectly competitive firm and the monopolist produce at the output where marginal revenue equal marginal cost, but only the perfect competitive firm achieves allocative efficiency. Explain why?
In: Economics
2-3 PARAGRAPH RESPONSE PLEASE
When it comes to international trade and government intervention, which is a better policy for a country to adopt to enrich itself: free trade or protectionism?
In: Economics
Is it possible for the US to default on its debt in the future? Explain
In: Economics
"Being the only seller in the market, the monopolist can choose any price and quality it desired" Explain and evaluate this statement
In: Economics
The Us national debt Is it going to hamper the economic growth as some have claimed?
In: Economics
Suppose that the cost function of some manufacturer is TC(q) = 160 + 8q + 10q2 .
a. Find expressions for the firm’s ATC, AVC, AFC, and MC curves.
b. Sketch the ATC, AVC, and MC curves. At what output level does the firm’s ATC reach its minimum point?
c. What can you say about the marginal product curve (for the variable factor; e.g., MPL) that must underlie this cost function? Briefly explain.
In: Economics
Why are the marginal and average cost curves U shaped? Explain what is the relationship between the marginal cost of production and marginal product of labour in the short term.
In: Economics