In the US cotton market, each farm having the cost function c(q)=0.5q^(2)+ 10 q+162 where q is the quantity of cotton in tons produced by each farm. The market demand curve is given by Q^(d)=10,400-50 p. Suppose the government gives each farm a subsidy of $8 per ton. Calculate the long-run market price assume the market is perfect competition. $20 $25 $30 $35     With all steps clearly

Q: lation affect the money interest rate? The nominal interest rate is determined by the forces of…

A: A channel for facilitating interactions between those who need money and people who save money is…

Q: Assume two firms are currently competing in a market. If one of the two firms wants to try to…

A: In competitive markets, firms often seek to gain an advantage over their rivals, and sometimes they…

Q: Suppose Marcel's preferences over consumption bundles (X, Y) can be represented by the utility…

A: Given utility function: Marshallian demand function is the ordinary demand function which is…

Q: a. How much should George charge if he must charge a single price to all customer? At this price,…

A: The consumer surplus refers to the difference between the willingness of a buy to pay for a good and…

Q: Canada’s voting share at the IMF is   2.22% 1.29% 15.57% 12.5% 3.51%

A: The IMF stands for the International Monetary Fund. It is an international organization established…

Q: 5. Calculating tax incidence Suppose that the U.S. government decides to charge beer producers a…

A: In economics, "tax burden" means the total amount of taxes people and businesses need to pay to the…

Q: Which formula below best represents the pure competition model? Multiple choice: A: Price=Demand…

A: The large number of sellers selling similar products in a market is called pure competition. Pure…

Q: Exercise 4 A firm operates with production function q(L, K) = LK². The manager has been given the…

A: Given that:Production function : The quantity to be produced is  8000Price of capital : Price of…

Q: Refer to the graph to the right. The shift from AS, to AS, shown in the diagram is referred to as…

A: The aggregate supply curve shows the total amount of quantity supplied by an economy at each…

Q: Suppose employees maximize utility by working 40 hours per week at an hourly wage of $10, but a firm…

A: A labor-leisure budget constraint is a graphical representation of the trade-off between working and…

Q: In the diagrams, AD, and AS, are the "before" curves. Assuming Y₁ is full-employment output, an…

A: The aggregate demand and aggregate supply curves (AD-AS CURVES):AD-AS CURVES are the curves that…

Q: Evaluatr and discuss this statement, Absolute advantage, specialistion and comparative advantage are…

A: When a nation can manufacture an item more cheaply or efficiently than another nation, it is said to…

Q: If the nominal rate on a loan is 7.0% and annual inflation is 3.0%, what is the real interest rate…

A: The Fisher Effect is a theory suggesting a direct relationship between nominal interest rates (i),…

Q: For which of the following would the absolute price elasticity of demand be​ greatest? A. Salt B.…

A: Price elasticity of demand refers to the percentage change in the quantity demanded of the goods or…

Q: Which of the following statements is true of the money supply?   a) Increasing the money supply is…

A: The money supply is the total amount of currency in circulation within an economy. It includes…

Q: Choose all of the market structures that satisfy the following: individual demand revenue = price. <…

A: A market is where purchasers and sellers can meet to facilitate the exchange or transaction of…

Q: Market failure refers to a situabon where a market economy collapses OA. False OB. True

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

Q: 2) Explain why X-inefficiency is likely to be more prevalent in an industry in which firms have…

A: X-inefficiency is a concept in economics that refers to a situation where a firm operates with…

Q: stilling inking glas. wers were to question 12 above, assume Douglas Cornfield's demand function for…

A: Consumer theory examines how individuals and households make purchasing decisions by taking their…

Q: Question 6 8.5 8- 75- 7 65 6 55 5. 45 4 3.5- 3. 2.5 Social Cost Private Cost

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

Q: Price A) supply curve $1. C) supply curve $3. 0 S₁ 5253 Number of gardenburgers Figure 4 15) Refer…

A: The link between the amount of a product provided and its price, while maintaining other variables…

Q: If households decide to save a larger portion of their income, what effect would this have on…

A: The cornerstone of modern economics is macroeconomic analysis, which provides critical information…

Q: Reese thinks peanut butter and chocolate are great when separate, but when they combine they are…

A: Utility function : U = xy +  x +  y Price of x :  Px  = 2 Price of y : Py = 4 Income : I0 = 1…

Q: Suppose that Alpha Inc., Richardson Industries, and K-Tek are the only three firms interested in a…

A: An auction is a way to sell things to the person who makes the highest offer. In an auction, buyers…

Q: The diagram below show the market for financial capital assuming that national income is constant at…

A: Macroeconomic analysis, which gives critical information on a country's financial health, is the…

Q: Select the correct choice and correct match. A. increasing or decreasing the money supply B. people…

A: Money supply:Money supply refers to the supply of money in the economy at a  given point in timeIt…

Q: Exercise 4 A firm operates with production function q(L, K) = LK². The manager has been given the…

A: Production function: Rent on capital (r) is $400 per day and the wage of labor is $200. The…

Q: Leon and Heidi decided to invest $2,500 annually for only the first seven years of their marriage.…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: m is vegetarian and always eat a salad (s) with 2 glasses of green juice (g). His lity for the two…

A: Utility is satisfaction that is derived from the consumption of goods or services. Complement goods…

Q: The inverse demand curve a monopoly faces is p = 10Q-0.5. a. What is the firm's marginal revenue…

A: Marginal revenue is the additional revenue a firm receives from selling one more unit of a product.

Q: a. What is the Marginal Revenue function in this market? b. If there was only one coffee firm in…

A: The equilibrium price is the cost where the amount given is the same as the amount wanted, creating…

Q: 1. Assume that Hurricane Dorian destroyed thousands of crawfish traps. Explain and illustrate what…

A: Since you have posted multiple independent questions, according to our guidelines, only the first…

Q: 2. Suppose the inverse demand for a good is P = 100 - 2Q and the inverse supply of a good is P = 3Q…

A: Externalities occur when there is an indirect impact on a party that is not directly related to the…

Q: Nobel-winning Keynesian economist Paul Samuelson taught in his influential textbook that when a…

A: Keynesian economics places a strong emphasis on the necessity of government involvement in the…

Q: (Figure: The Market for Hero Sandwiches) Consider the figure The Market for Hero Sandwiches. At the…

A: Consumer surplus is the area above the price line and under the demand curve. Producer surplus is…

Q: The First National Bank of Townville has $125,000 in U.S. government securities, $200,000 in savings…

A: Reserves are the funds that a bank holds to meet its obligations, including customer withdrawals and…

Q: Clearly explain the transmission mechanism of a change in the rate of interest on a country’s…

A: Balance of Trade:The balance of trade refers to the difference between the value of a country's…

Q: Suppose R(q) = 4q − q2 is a function that describes the revenue an individual can earn. Obviously,…

A: A revenue function calculates the total income generated from selling a specific quantity of goods…

Q: The shape of Ireland's production possibilities frontier (PPF) should reflect the fact that as…

A: Economic production is analogous to a symphony, in which resources come together to create richness.…

Q: Pesto G A Pestoland Pastaland D F Cb. B Pasta In Figure 34-7, it is probably true that wages are…

A: Two countries often engage in a trading situation. The notion of engaging in trading activities is…

Q: Consider the labor market for the fast-food industry, which consists mainly of high school and…

A: In economics, an equilibrium point refers to the state where supply and demand for a particular good…

Q: The source mentions a fourth factor of production: entrepreneurship. In what sense could it be…

A: The practice of identifying possibilities and seeking innovative solutions to satisfy market demands…

Q: Suppose a newly released study shows that battery- powered toys harm a child’s development and…

A: The dynamic interplay of supply and demand, price changes, and customer behavior is referred to as…

Q: The average income in an area increases from R40,000 per year to R60,000 per year. Sales of carpets…

A: Income elasticity is calculated as the percentage change in quantity divided by the percentage…

Q: Consider a cash flow of payments C1,C2,...,Cn at the end of years t1,t2,...,tn. Suppose the nominal…

A: The nominal interest rate is the rate at which money grows with interest payment, without accounting…

Q: Fill in the blanks to complete the passage about the time lags of fiscal policy. Drag word(s) below…

A: Fiscal Policy refers to the use of government revenue and expenditure to influence the overall…

Q: Please select all that are true regarding Minimum Efficient Scale (MES):     if the quantity…

A: The minimal level of output or production at which a business can generate goods or services at the…

Q: Figure 13-4 Price level 112 110 O 8% O 12% O 10% LRAS O 9.1% 11.0 LRAS: 118 12.1 SRAS, AD, SRAS…

A: National income analysis is an important statistic for measuring an economy's health because it…

Q: TOTAL EXPENDITURE (Billions of dollars) 500 475 450 425 400 375 350 325 300 300 325 350 375 400 425…

A: Consumption function:The consumption function shows the relationship between consumption and income…

Q: From California to New York, legislative bodies across the United States are considering eliminating…

A: Nonpecuniary cost:Nonpecuniary cost refers to the cost of something that cannot be measured in…