2 QUESTION 36In the long run, if for a firm in a competitive market, at the level of output where P MR = MC, the price is less than the firm's long run averagecost, P LAC,Ca. the price will decrease until P = LACOb. the price will stay the sameDc the price will increase until PLACQUESTION 38Examining the equilibrium conditions of individual markets and for households and firms separately is referred to asa. partial equilibrium analysis.b. general equilibrium analysis.C. comparative statics.d. efficiency analysis.QUESTION 39An activity that makes some people better off and nobody worse off is aa. voluntary exchange.b.government transfer program such as Social Security.c reduction in interest rates.d. price floor that increases income to suppliers.QUESTION 40Assume that the marginal cost of producing steel does not include the cost of the damage to the environment as a result of pollution. Byproducing where P= MC, the firm will be producinga. the efficient amount of steel,b. less than the efficient amount of steel.ca zero quantity of steel.d. more than the efficient amount of steel.

We have to solve following questions. In the long run , if for a firm in a competitive market at the…

QUESTION 36 In the long run, if for a firm in a competitive market, at the level of output where P MR MC, the price is less than the firm's long run average cost, P LAC, a. the price will decrease until P = LAC will etau the eame

QUESTION 36 In the long run, if for a firm in a competitive market, at the level of output where P MR MC, the price is less than the firm's long run average cost, P LAC, a. the price will decrease until P = LAC will etau the eame

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The graph shows the market for mugs in which the government has imposed a tax of $4 per mug. Draw a point to show the price paid by buyers and the quantity bought. Draw shapes that represent the following: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the tax revenue received by the government. Label it TR. 4) the deadweight loss created by the tax. Label it DWL. >>> A label can be repositioned by clicking on the edge of the label box and dragging it onto the shape. esc ↑. C Selected: none $ ▸ 0
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M1
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
why choose A?
Fill in the table below, giving a numerical value for letters A, B, C, and D. TC AFC AVC 50 1 90 A B D 30 2.
Pls help ASAP
What are the Revenue projects?
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs