If an external benefit occurs in a perfectly competitive market, firms produced an A efficient amount of output. В amount and quality of output most desired by the market. C amount more than the efficient quantity. amount less than the efficient quantity.

If an external benefit occurs in a perfectly competitive market, firms produced an A efficient amount of output. В amount and quality of output most desired by the market. C amount more than the efficient quantity. amount less than the efficient quantity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: 5- In a certain region, the electric potential due to a charge distribution is given by the equation…

A: Approach to solving the question:E=−ΔVDetailed explanation: :

Q: (A) Salary of the former President of the USA in 2019 who instead of working was either playing golf…

A: Answer: (A). False Explanation: Former presidents are also given salaries and many other financial…

Q: 5. Suppose a quadratic function is given by y = f(x) = x29x + 8. (a) Does this function represent an…

A: The functions which are expressed in the form are called quadratic functions, where x is variable…

Q: Maudia contacts the Broker requesting a binder certificate for the second mortgage with a private…

A: DISCLAIMER “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Figure 6 shows the migration rate M(t) of Ireland in the period 1988–1998. This is the rate at which…

A: (a) The area below the t-axis is greater than the area of the above t-axis. Therefore the given…

Q: 68 The demand equation for a product is q = + In (126 - p). (a) Determine the point elasticity of…

Q: Thank you so much. you're doing “great work, but I have confuse. -Could you please give me short…

A: Returns to scale refers to the relationship between the changes in inputs and the corresponding…

Q: 8.5 8 75 7 65- 6 5.5 5 4.5 4 3.5 3 2.5 2 15 1 0.5- Pric 200 500 650 Social Cast I Private Cost…

A: Government intervention alludes to the moves made by a government to influence or impact the…

Q: Assume that you are in the market for a luxury German car and that you have completed the following…

A: The goal is to select the most desirable luxury German car among three models (MBenz C300, Audi A4,…

Q: B) both B and C both A and C Figure A D) both A and B E) only D X Figure B Figure C 26) In the…

A: When an increase in the independent variables leads to an increase in the dependent variable, or…

Q: The following table shows data on consumption, investments, exports, imports, and government…

A: Gross domestic product is a monetary measure of the market value of all the final goods and services…

Q: Suppose that GDP for each country in the table to the right doubled. Complete the following table.…

A: Given,Countryof World SpendingGDP ($ trillion)A404B404C101D101Value of Exports ($…

Q: Currently Octo has bought 1 kg of mangoes and 1 kg of bananas. Because the quality of the fruits he…

A: In the above question, it is given that : Octo can spend total of IDR 100,000 to buy mangoes and…

Q: I need answer typing clear urjent no chatgpt used i will give upvotes

Q: Q#1. Use the following equations to graph the MB and MC curves. MC = 10 MB = 40 - 4q1 40 35 30 25 20…

A: Part 1 1. The Marginal benefit (MB) curve is downwards sloping because as quantity increases, the…

Q: Diagrammatically‌ ‌show‌ ‌and‌ ‌explain‌ ‌how‌ ‌oil‌ ‌prices‌ ‌dropped‌ ‌as‌ ‌concerns‌ ‌over‌…

A: ***Since the student has posted multiple questions, the expert is required to solve only the first…

Q: limitations that make rational economic decisions more challenging.

A: Rational decision making- It is the process in which choices are made between two alternatives.

Q: Yvette is a hard working fourth-year university student. One Tuesday, she decides to work nonstop…

A: The choices made at the margin are an economic concept. It means that decisions are made by…

Q: What are leakages in the circular flow diagram? (B) Give example of leakage in a three sector…

A: Leakages and injection shows the outflow and inflow of money in the circular flow diagram.

Q: Consider the following data for a Human Development Index = 0,683 Education Index 0,638 Income Index…

A: HDI (Human Development Index) is a composite measure used in economics to assess and compare the…

Q: Each term (3 months) the current group of economics students completed a questionnaire as to how…

A: The marginal propensity to consume illustrates how much a consumer is willing to spend out of all…

Q: Q.3 - An economist has estimated demand of D = 1000 − P and Supply of S = 400 + 10R for onions,…

A: Given : D = 1000 − P S = 400 + 10R

Q: Greenhouse gases trap heat and make the planet warmer. Human activities are responsible for almost…

A: The measure that depicts different slices for illustration of a numerical proportion of various…

Question

100%

Hi! Please help! I am so confused :( Thank you!

If an external benefit occurs in a perfectly competitive market, firms produced an
A
efficient amount of output.
В
amount and quality of output most desired by the market.
C
amount more than the efficient quantity.
D
amount less than the efficient quantity.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Sav Blundell Biotech. Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company's profits by subsidiary, in local currency (in millions) along with the average exchange rate for each year, by currency pairs, are shown in the table for 2013 and 2014. Use these data to answer the following questions. a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014? b. If the same exchange rates were used for both years-which is often called a "constant currency basis-what was the change in corporate earnings on a constant currency basis? c. Using the results of the constant currency analysis in part (b), is it possible to separate Blundell's growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis?
OCHESTER 1. (12 points) Supply and Demand for Riesling The Finger Lakes region of New York State is known for its Rieslings. The demand function for bottles of wine from this region (in 100,000s) has two variables average annual income of purchasers. The functional form is: Qd=-2Pd-5+0.0011, where the price of wine and the Qd is quantity sold, Pd is the price of one bottle of wine, and I is equal to average income. Assume average annual income today is $30,000. A) (3 points) Calculate and plot the demand curve. B) (3 points) Calculate and plot the demand curve for I = $35,000 on the same graph as used in part a. == C) (6 points) Now assume a supply curve, Qs = 25P, - 175. Plot the supply curve on the same graph. Compute the equilibrium prices and quantities for the two demand curves.
If a charity is done to foreign country then this transaction will be recorded in which account of the balance of payment accounts? Please be brief. I need answer in not more than 4 lines
ONLY TYPED SOLUTION
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Only typed answer
()5 please answer the questions in a ABCD form THANK YOU FOR YOUR HELP!! (Please igonore numbers on screen) Answers are sometimes shown in second image, Please select as many answers , if they're correct of course, once again thank you.
Typed plz and asap please provide me a quality solution for better rating and take care of plagiarism also
Question 2 (a)
1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…
Could someone walk me through this problem? Thank you for your help!
PROBLEM (1) (Rational Choice) Suppose your friend is about to buy a digital camera. A digital camera is identified with three dimensions; 1) resolution (in megapixels), 2) optical zoom (a real number) and 3) battery life (a number of hours). For example, A = (8, 4, 20) is a camera with 8mp resolution and x4 optical zoom and 20 hours of battery life. When he goes into a store, he faces a menu of cameras. When comparing two cameras if camera A is weakly better than B on at least 2 dimensions, it is weakly preferred to the other; written A ≥preferred B. a) Is this preference relation complete? Transitive? Prove it or show an example where the property doesn't hold. b) Suppose the agent chooses from any menu of cameras, a camera that is (weakly) preferred to all other cameras in the menu. Would this choice function be rational, given (a)? Briefly explain your reasoning.