The table below shows revenue data for different firms producing cell phones. Use the given information to determine the 4 Firm Concentration ratio. Firm Revenue in $ Market Share in % Aardvark Inc 490 19 Buzzy Co 285 11 Cran Inc 310 12 Delta Co 460 18 Echo Co 505 20 Farriss Co 515 20 What is the Four Firm Concentration Ratio? Is this market concentrated? OYes ONo EPIC
Q: Which of the following is a TRUE statement about arguments for and against requiring a balanced…
A: When talking about balanced budget, it is the situation when government is spending exactly the same…
Q: Explain the slope of the SR aggregate supply schedule. Explain how the SR aggregate supply schedule…
A: Short-run aggregate supply (SRAS) is a graphical model that shows the positive connection between…
Q: Question 5 For this question, select all that apply. Which of the following statements is commonly…
A: The process of evaluating an entity's growth, staff, operations, and work environment is known as…
Q: QL TP W 10 30 1 10 10 40 19 27 10 50 10 10 60 70 4 34 40 10 80 Here is the production cost for a…
A: The graph shows that to hire more labor, the firm has to raise wage rate.
Q: One way to maintain exclusivity for a brand is to raise its price. That’s what luxury fashion and…
A: Given: Prices are raised by = 10% Total revenue = $13.3 billion Sales = $8 billion Company's…
Q: You have been hired as a Marco Economist by the President of the United States to help evaluate the…
A: When Fed chairman increasing interest rate again on the ground that the economy is growing strong…
Q: Question: summarize the case You are an attorney working for a large law firm. Anthony, Paul…
A: The goal of summarizing is to offer context for your argument/thesis by succinctly presenting the…
Q: Selected members of a national organization of mathematics teachers were asked to decide on a…
A: Approval voting refers to the procedure for counting total votes of the individual candidates, in…
Q: Consider a pure exchange economy, where both consumers have exactly the same preferences, described…
A: Given information Ua=X^a*Y^b Ub=X^a*Y^b both have same preferences. Share of both goods in utility…
Q: Assume that the goods in the following list are unrelated in consumption: Diamonds, Rice,…
A: A tax basically refers to a compulsory fee or financial charge imposed by a government on a person…
Q: Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 unsaction S14_S15: Households and -profit…
A: Answer: Nominal GDP= Nominal GDP refers to the monetary value of all the goods and services produced…
Q: The state of New Jersey has in circulation (as of 2011) an instant lottery game called $1,000…
A: Given information: The given information depicts the frequency of distribution of prizes and winning…
Q: A company produces canned drinks and sells them to supermarkets at $2 per unit. The resources the…
A: The optimal quantity of output is such a quantity of output where profit is maximized.
Q: Explain the concept of the invisible hand that was created by Adam Smith.
A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…
Q: explain why the centers of authority an indicator of a global city? give examples
A: Introduction The Global City Indicator initiative is indeed a fragmented, city-led initiative that…
Q: A firm faces the following costs and market demand: C=1/2Q^3-4Q^2+20Q+30 P=120-3Q Find the maximum…
A:
Q: Abe grows beautful orchids. His total fixed cost is $144 a day, and his average variable cost is $1…
A: Abe grows beautiful orchids. his total fixed cost is $144 aday, and his average variable cost is…
Q: Required information A process for producing the mosquito repellant Deet has an initial investment…
A: Initial Investment = 200,000 Annual Cost = 43,000 Income = 90,000 per year
Q: Oil prices doubled since January 2021, from $50 per barrel to $100 per barrel. Use a graph to show…
A: Answer: If the price of oil rises from $50 per barrel to $100 per barrel then the budget line will…
Q: Selected members of a national organization of mathematics teachers were asked to decide on a…
A: Approval voting is a solitary electoral system where each voter may vote for any number of…
Q: In the simple circular-flow diagram, who buys the factors of production
A: A simple circular flow diagram represents how dollars, inputs, outputs flow through the markets. The…
Q: John is planning to retire in 15 years. Money can be deposited at 8% compounded quarterly. What…
A: Given Semiannually Withdrawal = 25,940 Interest rate = 8% compound quarterly
Q: Listed below are terms associated with the financial market. Match the correct definition or…
A: Financial markets encompass any marketplace where securities are traded, such as the stock market,…
Q: The government budget is in DEFICIT when OT G-Transfers (TR) - Interest on the Debt (INT) 0…
A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…
Q: Q4.Romer model predicts that the more labor you dedicate to generating ideas, the a) faster you…
A: The Romer (1986) Growth Model is a theoretical model of economic development.Using a work that…
Q: Required information A process for producing the mosquito repellant Deet has an initial investment…
A: The following information is provided: Initial investment = $200,000 Annual cost = $41000 Annual…
Q: The weekly revenue realized by a company is approximated by the revenue function R(x, y) = 200x +…
A:
Q: Define the term Inflation.
A: Many a times consumers are willing to pay more for a particular product, this increases the demand…
Q: Suppose you deposited $1000 in bank. The required reserve ratio is 10% and banks hold 10% excess…
A: Required reserves ratio is the proportion of deposits banks must hold and excess reserves are the…
Q: Question 1 There are three policy variables that the government and the Bank of Zambia control that…
A: IS refers to the investment saving curve.LM refers to the liquidity of the money curve.
Q: The average car depreciates in value about 15% per year. Suppose you buy a silver Cherolet Cruze LTZ…
A: Given, The car value depreciates about 15% per year The depreciation rate(r) is 15% = 0.15 Now the…
Q: John is planning to retire in 15 years. Money can be deposited at 8% compounded quarterly. What…
A: Semiannually Withdrawal = 25,940 Interest rate = 8% compound quarterly
Q: The figure below illustrates a two-sector commodity market model that takes into account consumption…
A: Given information
Q: The welfare losses or costs due to imperfect competition are known as 1. consumer surplus. 2.…
A: "In imperfect competition firms produce profit maximizing level of output which is less than the…
Q: Economy: you should provide an account of your short-term and long-term economic modes of…
A: Understand the capability of the short and long run in financial concerns. Interestingly, the…
Q: graphically explain the effects of an increase in non-labour income to labour supply.
A: Labor supply is an upward sloping curve because with the increase in wages, the supply of labor…
Q: Modified True or False: State whether each statement is true or false. If the statement is false,…
A: The correct answer is given in the second step.
Q: c) Using a supply and demand diagram, demonstrate how a positive externality leads to market…
A: Externalities are costs or gains that a producer makes but does not endure or get directly from…
Q: Suppose that the price of rice is Tk.65 per kg and 75,000 kg of rice is consumed in equilibrium. A…
A: The excess burden of taxation, also known as the dead weight loss of taxation, is the economic loss…
Q: Explain how changes in exchange rates impact the economy through the aggregate demand- aggregate…
A: People's judgments of the value of money are frequently stable from one day to the next. Even the…
Q: 5. ( 1Suppose that the following information is given: Year Quantity (# of cars) Price (each car)…
A: "Nominal GDP of any year is computed by multiplying price in that year by the quantity produced in…
Q: Describe the relevance of taxation for understanding the American welfare state. How have…
A: American welfare state An American welfare state is formed by the government that is formed to…
Q: It is observed in a grocery store that when the price of apple (the fruit... not the cellphone) is…
A: Elasticity measures the responsiveness of quantity demanded to changes in price level.
Q: In econometrics in R, what does it mean when the AME for a variable is negative, but the coefficient…
A: In econometrics we we use linear regression model to estimate the the effect of independent variable…
Q: QUESTION 13 Government policy conceming taxing, spending, and borrowing is called monetary policy,…
A: Monetary policy is used to correct business cycles such as inflation and deflation by controlling…
Q: Suppose that Germany (country a) and France (country b) do not have foreign currency controls in…
A: Fiat money is any kind of currency that has been made legal tender by a government edict or fiat.…
Q: XX XX XX XX 20 4,000 40 10,000 60 15,000 80 19,400 100 23,000 a. Complete the table. b. What is the…
A: *Answer: a.
Q: Y C Ip G Xn $0 $800 $1,000 $1,400 −$200 2,500 2,300 1,000 1,400 −200 5,000 3,800 1,000 1,400 −200…
A: Aggregate expenditure is the sum of consumption, investment, government purchases and net export.…
Q: Required information A process for producing the mosquito repellant Deet has an initial investment…
A: The term "payback period" refers to the time it takes to return the cost of an investment. Simply…
Q: The Russia-Ukraine war triggers a surging of crude oil price to a record high that leads to a…
A: The question is based on the aggregate demand-aggregate supply model.
Step by step
Solved in 2 steps with 1 images
- Make a case for why monopolistically competitive industries never reach long-run equilibrium.When OPEC raised the price of oil dramatically in the mid-1970s, experts said it was unlikely that the cartel could stay together over the long term-that the incentives for individual members. to cheat would become too strong. More than fort),r years later, OPEC still exists. Why do you think OPEC has been able to beat the odds and continue to collude? Hint: You may wish to consider non-economic reasons.There is much evidence that large firms with considerable market power (firms such asmonopolies) may not maximize profits but may pursue quite different objectives such asgrowth or sales revenue maximization. What are the arguments put forward to defendmonopoly? Name any 5 Generally, the aim of a business is to maximize profit. Which point should a firm operateat in order to achieve maximum profit? By making use of a graph indicate clearly the pointat which a firm makes maximum profit and a point where a firm increase their output inorder to enhance profit as well as well as the points where they should reduce theirproduction if they want to enhance profit
- Suppose that a particular industry has a four-firm concentration ratio of 45 and a Herfindahi index of LS40. Most ikety, this industry would ochieve Mutipie Chaice both productive efficiency and allocative etficency wllocative efficency but not productive effcency nether productive efficiency nor allocative efficiency productive efficiency but not allocative efficiencyOnly two firms, Acme and Stuff Inc., sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost (so MC-ATC=$10). Price Quantity Total Revenues 10 70 65 60 55 50 45 40 28889 35 30 25 20 15 10 15 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 0 If Acme and Stuff Inc are able to collude, how much will Acme produce? 6500 12000 16500 20000 22500 24000 24500 24000 22500 20000 16500 12000 6500 0Consider a monopoly trading firm that dominates a particular market. Describe the factors that contribute to the monopoly's ability to control prices and generate profits and as such discuss its short run and long run profit situation. Use relevant diagrams to support your answer. Ans suppose more firms are interested in joining the market and over the years, the market structure is characterised by monopolistic competition. Discuss the implication on the firm’s short-run and long run profits with the use of relevant diagrams.
- The table below shows revenue data for different firms producing cleaning products. Use the given information to find the market share of each firm. Firm Revenue in $ Market Share in % Aardvark Inc 325 Baluga LLC 340 Cran Inc 140 Dingo Inc 495 Eagle Inc 360 Keep 2 decimals for the market share percentages What is the Four Firm Concentration Ratio? Is this market concentrated? OYes ONoSuppose that the market for e-readers is an oligopoly controlled by Amazon.com , Barnes and Noble,Sony, and Apple. Barnes and Noble is consideringincreasing its output. How would this affect themarket price? How would it affect the profits ofeach company?ne Semester 2023 dules nouncements NWP Assessment Play X signments scussions yllabus Grades Zoom People Turnitin https://calstatela.instructure.com/courses/85933/quizzes/382812/take Oligopoly Oaksville has two tennis instructors, Sam and Jack. The figure shows the demand curve and marginal revenue for tennis lesson appointments and the average total cost. Price and cost (dollars per appointment) Microsoft Office 365 Google Apps Type here to search X F1 @ 2 21 A- F2 A+ F3 Quiz: Homework 7 #3 X F4 BI $ 4 70 60 50 40 30 23 10 ☀ - F5 0 X % 5 2 Alt Text: pink glitter ro X Alt Text: appointments Competitive Outcome, (Pcomp, Qcomp) ☀+ F6 6 MR 8 F7 6 4 10 Quantity (appointments per hour) L yu F8 8 & 7 O MC D ATC F9 Negative Manuscript X * 00 8 F10 ( 9 n F11 ) 0 Oracle Peopl 59°F Mostly clouc ☆ A to F12 Hom
- Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their product. Each firm has the same constant marginal cost of $8 and zero fixed cost. Price Quantity Total Demanded Revenue (Dollars per unit) (Units) (Dollars) 28 26 130 24 10 240 22 15 330 20 20 400 18 25 450 16 30 480 14 35 490 12 40 480 10 45 450 8 50 400 55 330 4 60 240 2 65 130 70 Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would be produced? а. 25 b. 50 С. 35 d. 70 O O O OSuppose an industry that has 10 firms. Below are the market shares for 2008 and 2013 of the 10 firms. Market Share Firms 2008 2013 A B C D E F G H I G 26% 21% 16% 10% 9% 7% 4% 3% 2% 2% 22% 23% 19% 9% 8% 7% 6% 4% 1% 1% Calculate the concentration ratio CR4 and the concentration ratio CR8 for 2008 and 2013 Calculate the Herfindahl-Hirschmann Index (HHI) for 2008 and 2013 Using the CR4, CR8, and HHI, analyze the evolution of the seller concentration in the industry. Has the industry become more or less concentrated? Using the CR4, CR8, and HHI, analyze the evolution of the potential market power of firms in the industry.In the long run, which of the following market has the following equilibrium condition: (1) everyone is making zero economic profit; (2) market price = ATC monopolistic competition monopoly O perfect competition oligopoly « Previous Nex No new data to save. Last checked at 11:47am Submit 000 80 DD esc F1 F2 F3 F4 F5 F6 F7 F8 F9