Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 200th gallon of gasoline entails the following: a private cost of $3.03; a social cost of $3.23; a value to consumers of $3.39. Refer to Scenario 10-1. Let QMARKET represent the equilibrium quantity of gasoline, and let QOPTIMUM represent the socially optimal quantity of gasoline. Which of the following inequalities is correct? Group of answer choices QOPTIMUM < QMARKET < 200 QMARKET < 200 < QOPTIMUM 200 < QOPTIMUM < QMARKET QOPTIMUM < 200 < QMARKET

Q: The financial rate of return on an automobile will tend to be lower than the rate of return on…

A: Financial assets are assets that derive their value from a contractual claim, such as stocks, bonds,…

Q: Suppose an industry has three identical firms competing on quantities with demand P = 100 ― (2)Q and…

A: Businesses with identical cost structures, production technology, and other important…

Q: ipam owns a firm that sells basketball apparel. As the firm's output increases, the firm's short-run…

A: An economy refers to the system of interrelated manufacturing and consumption activities that…

Q: omplete the right half of the following equation to reflect the unemployment rate reported by the…

A: Unemployment is an expression implying persons who are useful and vigorously finding a job but are…

Q: 6. A person is a traveling salesman of goods for a large company (she travels by car). She earns 900…

A: Suppose with probability 'p' the person would get x1 amount and with probability (1-p) he would get…

Q: If Bangladesh allows international trade in the market for maize, it will import [ tons of maize.…

A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…

Q: Use the AS-AD model to describe the crowding-out effect of private investment occurring when the…

A: a). When the government decreases taxation, it will increase disposable income, which will increase…

Q: 5. The demand for cement is given by P= 40 - 8Q, where P is the unit price in kroner (SEK) and Q is…

A: An externality is a cost or benefit that is not reflected in the market price of a good or service…

Q: Consider the following table of three politicians (Mowgli, Baloo and Kaa) ranking out of three…

A: Kaa would prefer the order which leads to ultimately win Improve public transport system

Q: Directions: Read the descriptions of the businesses provided. Examine each description, decide which…

A: Market structure refers to characteristics of a market that determine the behavior of the firm. The…

Q: Problem 19-02 (algo) A coal-fired power plant can produce electricity at a variable cost of $0.05…

A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…

Q: b. Compare the buyers' marginal benefit and the seller's marginal cost at the firm's profit…

A: When the market becomes less competitive, existing firms experience an increase in monopoly power. A…

Q: Which of the following is NOT an in-kind transfer? O Medicaid O TANF O Medicaid O SNAP

A: Cash transfer and in-kind transfer are two types of social welfare programs which has been used by…

Q: 3. What is the Current Role of the United States Government in the Provision of Higher Education,…

A: A society's government makes and enforces laws. It usually includes elected or appointed leaders.…

Q: The estimation of a Cobb-Douglas production function for 20 firms of a given industry yields: q₁ =…

A: Given information A regression equation is used to estimate the relationship between one or more…

Q: 1.F. Explain the Taylor rule (be sure to provide the equation and tell what the central bank will…

A: Central bank policy refers to the actions and decisions taken by a country's central bank to manage…

Q: A. Calculate an expression for the IS, MP and AD curves ( r= ?, IS Y= ?, AD Y=?) B. Let AS curve be…

A: A. To calculate the IS, MP,and AD curves , we need to use the following equations: IS curve…

Q: Please help me to create a power point presentation on the topic: "What factors can influence the…

A: A pricing system is a collection of techniques and procedures that organizations use to establish…

Q: The cost data in the following table are for Marshall’s Meats, a perfectly competitive firm.

A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…

Q: How would you describe the elasticity of mable's demand for milk

A: Price elasticity of demand is a measures the quantity of change in demand with respect to the change…

Q: Give typing answer with explanation and conclusion  A new law requires companies to pay a 40%…

A: Before the law, the employer was paying $30 per hour for 12 hours of work. After the law (that they…

Q: Shift the appropriate curve or curves to show the short-run and long-run adjustments. Then place the…

A: Phillips curve is important thing in macroeconomics. That means Philips curve actually plays an…

Q: Consider an economy with two goods, consumption c and leisure 1, and a representative consumer. The…

A: Given information Considering an economy with two goods: Consumption, c Leisure, l A consumer's…

Q: I want a differrent answer for this question. the answer provided is too much publicated

A: To collectively represent their interests in the workplace, workers form unions. They frequently…

Q: Consider the IS-LM model derived. Suppose the economy of Economica is initially at the general…

A: An economy achieves equilibrium in the short run when the aggregate demand and short-run aggregate…

Q: Suppose the economy is initially at a long-run equilibrium. The Fed then increases the money supply.…

A: When the Fed increases the money supply, it typically leads to lower interest rates and increased…

Q: Use the DD-AA model to analyze the impact of a transitory decrease in the Foreign interest rate R*…

A: The AA-DD model is an economic model used to analyze the effects of exchange rate changes on a…

Q: State of development in Kenya. Explain

A: Development is a process of good change wherein people, communities, and nations gradually better…

Q: c. Shift the appropriate curve to show the long-run adjustment. Then place the points for short-run…

A: In this case, we have to discuss about Phillips curve. This Philips curve indicates a strong…

Q: Consider a budget constraint model with two goods X and Y. Suppose X is an inferior good, and the…

A: The substitution effect is the change in quantity demanded of a product that results from a change…

Q: Higher interest rates on business loans usually result in a a, decrease in aggregate supply b.…

A: The aggregate demand curve depicts the inverse relationship between the price level and aggregate…

Q: The desired reserve ratio is 2 percent of deposits, and the currency drain ratio is 4 percent of…

A: Money multiplier is used to calculate the value of change in money supply.  Change in money supply…

Q: A company wants to provide a retirement plan for an employee who is aged 55 now. The plan will…

A: An annuity-due is an annuity for which the payments are made at the beginning of the payment…

Q: Suppose that your friend operates a pizza restaurant in the building he owns. Similar buildings in…

A: Opportunity costs are the valuation of the next best alternative that must be forgone in order to…

Q: The probabilities that the life of a machine will vary from 6 to 12 years are given in the table…

A: The expected life of  Machine depends on the probabilities of number of years.  Expected life will…

Q: The following graph plots the forward premium for a foreign currency along the horizontal axis,…

A: According to the interest rate parity (IRP) theory, the difference in interest rates between two…

Q: Using Excel: Please prove Ernst Engel's law by using Lao data ( the share of agricultural productsin…

A: The GDP is the production of goods and services that is not used in the production process but are…

Q: 3. What are the Political and Economic Ramifications of Investing a Large Part of the Social…

A: The proposal to invest a large portion of the Social Security trust fund in the stock market could…

Q: "The Opportunity Cost of a Mission to Mars. The United States has plans to spend billions of dollars…

A: The United States has plans to spend billions of dollars on a missions to Mars, which is expected to…

Q: Use the table below to calculate the MPC, MPS, government spending multiplier, and tax multiplier.…

A: Introduction MPC is the percentage of a family's income extra income that's consumed. The percentage…

Q: what is the opportunity cost of a pound of apples  what is the opportunity cost of a pound of ban

A: Opportunity cost is the cost of producing one good in terms of other.  Opportunity cost shows the…

Q: If the nominal money supply is 12,000, real output is 15,000, the real interest rate is .03, and the…

A: Real Money demand function is given for the economy, and the money supply is also given. In order to…

Q: What is the implication of a new technological change in the production on consumer.

A: Technological change is the creation and application of new tools, methods, processes, or…

Q: A solid waste recycling plant is considering two types of storage bins. Use ROR evaluation and an…

A: Rate of Return (ROR) is a financial metric that measures the profitability of an investment. It is…

Q: Which of the following(s) is/are incorrect about indifference curves? O None of the answers are…

A: An indifference curve is a graphical representation of a set of combinations of two goods that…

Q: When demand is perfect elastic..   -the demand curve is vertical -we produce a lot more for a…

A: Price elasticity of demand measures the responsiveness of change in quantity demanded to change in…

Q: the exchange rate can't be used as a monetary policy guide because?

A: Introduction  An exchange rate is a relative price of one currency expressed in terms of another…

Q: The Fed is expected to raise the interest rate to nearly 5% in 2023. What is the impact of this…

A: An interest rate is the amount charged by a lender to a borrower for the use of borrowed money,…

Q: Please answer whether a statement is true or false and give a 1-2 sentence explanation of why this…

A: Risk in economics is the measure of uncertainty and potential loss connected to a specific choice or…

Q: As part of Budget 2018, the Government of Canada introduced the Canada Workers Benefit (CWB) that…

A: The Canadian government unveiled the Canada Workers Benefit in its 2018 budget (CWB). Low-income…