Industry demand is given by P = 200 – .4Q. The long-run industry costs are such that: LAC = LMC = $80. Based on this information, which of the following is true? a) If the market is a pure monopoly, the price of the good will be $140. b) If the market is perfectly competitive, 300 units of the good will be supplied. c) If the market is perfectly competitive, the price of the good will be $100. d) If the market is a pure monopoly, 200 units of the good will be produced. e) Answers if the market is a pure monopoly, the price of the good will be $140 and if the market is perfectly competitive, 300 units of the good will be supplied are both correct.

Q: When managing time, consumers should consider time as if it were: (a) money or a scare resource (b)…

A: Having a resource that is scarce, including money and also time, is something that will be of…

Q: What are the benefits of considering the economic decisions?

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: Answers are A and B, D and E, E and F, F and H, or H and I

A: The indifference curve depicts the combination of two goods that derives the same level of utility…

Q: Economics helps managers focus on key issues.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Name any two types of consumption goods with examples

A: Those goods which have the tendency to satisfy the wants of the consumer are said to be as Consumer…

Q: Saving equals Group of answer choices Y - C. Y - I. Inventory changes. Y - G

A: The fraction of money left over after paying for current expenses is what is saved. In other words,…

Q: How to perform a cost benefit analysis?

A: There are some costs and benefits associated with each economic activity. Thus, a cost-benefit…

Q: How can we simplify the decision-making process?

A: A business cannot take the decision making process lightly as the entire business relies and acts on…

Q: Are options b through e correct or incorrect?

A: A price ceiling is the commanded most extreme amount a dealer is permitted to charge for a product.…

Q: Insert Draw Design Layout References Mailings Review View + Share a Times New R. - 14 - A- A-…

A: Direct cost or explicit cost includes the cost which firms incur in the form of wages, rent, cost of…

Q: Can you give an example of cost-savings?

A: Answer: Cost reduction is a continuous process of implementing various ways to bring a reduction in…

Q: Rational decision-making will likely generate a better "economic" outcome vs. emotional…

A: In economics, there is a basic assumption that consumers are rational in their decision making. This…

Q: Could you please provide me with the steps for each part? I would like to see the steps. Thanks!

A: Disclaimer: “Since you have asked multiple questions, we will solve the first 3 subpart question for…

Q: How does inherent value differ from instrumental value?

A: Inherent value and instrumental values are a part of the the environmental economics. They are used…