1)True/False: Monopoly reduces social welfare, so the government should always prohibit monopoly(explain) 2)Assume the demand for...

1)True/False: Monopoly reduces social welfare, so the government should always prohibit monopoly(explain)

2)Assume the demand for GMs new Hummer H2 is P = 100000 – 500Q, the marginal revenue is MR = 100000 – 1000Q, and the marginal cost is MC = 600Q. a) Please figure out the profit maximizing P and Q. b) What is the consumer surplus and what is the producer surplus?

Expert Solution

Rahul Sunny answered 1 year ago

True or false: minimum wage always increases the welfare of workers. Explain your answer with a...

True or false: minimum wage always increases the welfare of workers. Explain your answer with a graph.

2) True or False (If statement is false, correct it so that it is true) a)...

2) True or False (If statement is false, correct it so that it is true) a) Polymers make up an exciting class of biomaterials. Polyethylene is a wonderful example of a simple ceramic that can be used in multiple applications by modifying its chemical structure. It tends to be bioactive when used by itself as an implant, but it becomes even more bioactive when 10 vol% Calcium Carbonate is added to it. Teflon can be used as a vascular graft...

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1. Should so-called “social welfare” organizations — who aren’t required to disclose their donors — be able to participate in campaigns from the shadows? Would you support efforts to reform the campaign finance system and help bring the public further into the political process? 2. Should political advertisers be required to identify the top sponsors behind all ads appearing on broadcast television, cable, the Internet, and radio? Should super PACs supporting your candidacy turn away donations when their source can’t...

Should the government regulate the natural monopoly? Explain.

Answer true or false, with a brief explanation. 1. Monopolies are always bad for consumers. 2....

Answer true or false, with a brief explanation. 1. Monopolies are always bad for consumers. 2. The supply curve of a monopolist is upward sloping. 3. Monopolies charge the highest price a consumer is willing to pay, thus capturing all consumer surplus.

Can you explain. Responsibilities of government in the market place and social welfare of the people.

Government intervention is always required to deal with the problem of asymmetric information in insurance. True or false?

(c) Government intervention is always required to deal with the problem of asymmetric information in insurance. True or false? Explain your answer. (d) Outline the rationale for and benefits of a publicly funded health service.

1. (True/False. Explain) Longer the duration of the loan, higher the interest rate. 2. (True/False. Explain) higher the...

1. (True/False. Explain) Longer the duration of the loan, higher the interest rate. 2. (True/False. Explain) higher the risk of the loan, lower the interest rate. 3. (True/False. Explain) $1 today is worth more than $1 tomorrow. 4. What is Initial Public Offering (IPO)? Can you buy one from another investor? 5. What is crowdfunding?

True or False 1.The Cross-Price elasticity of demand for good X is -2, if its demand...

True or False 1.The Cross-Price elasticity of demand for good X is -2, if its demand changes from 100 units to 300 units, because of an increase in Price of Good Y from $1 to $2? 2.If the Demand for a good is inelastic, we can say that, as Price decreases, the Total Revenue will decrease. 3.If the demand for a good rises, when income falls, the good is an inferior good. 4.Because of the law of supply, we can...

Evaluate whether the follow statements are true or false and EXPLAIN why. While welfare is maximum...

Evaluate whether the follow statements are true or false and EXPLAIN why. While welfare is maximum at a negative inflation rate, seigniorage increases when inflation increases. Seigniorage is maximum for negative inflation rates. In the money in the utility function model, money demand is always bounded above whenever the utility function satisfies that as money goes to zero, the marginal utility of money goes to infinity.

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