[translate] aSecond, Jim’s consumer equilibrium must be made on his budget line which is given by the equation ,where and represent prices of good X and good Y, respectively; 其次,吉姆的在等式给的他的预算额度必须做消费者平衡 的地方 并且 代表好X和好Y的价格,分别; [translate] ...
With the characteristics of monopolistic competition in mind, please explain why monopolies can enjoy long run profits, but firms under monopolistic competition face a zero-profit long run equilibrium Why can a monopolist continue to make positive profits...
Qd = the quantity at equilibrium where supply and demand are equal ΔP = Pmax (the price a consumer is willing to pay) – Pd (the price at equilibrium where supply and demand are equal) Measuring Consumer Surplus Thedemand curveis a graphic representation used to calculate consumer surplus....
Physician-induced demand (PID) exists when the physician influences a patient's demand for care against the physician's interpretation of the best interest of the patient. It is important to keep two distinctions in mind when applying this definition. The first is the distinction between useful ...
Calculating derivatives of the basic reproduction number at the equilibria we prove that the upper of the two non-trivial equilibria (when it exists) is locally asymptotically stable independently of the time delay. The smaller of the two equilibria is always unstable. Using numerical simulations we...
When multiple equilibria are considered, each participant gets the same equilibrium benefit regardless of whether the rebate cost is borne by the platform or the supplier. This neutral result suggests that platforms handing out consumer rebates at the expense of suppliers are not necessarily bad for...
Why would a consumer's utility increase when the price falls? Explain why markets move predictably toward equilibrium. In other words, explain how markets adjust if the price were temporarily above (or below) the equilibrium price. How do economists kn...
(2011) with human subjects as consumers, what is common to all these works is their shared assumption of the fact that firms are competing to capture rational and fully informed consumers even when they document spatial behavior that departs from Nash equilibrium when it theoretically exists. The...
In this setting, an equilibrium exists in which all firms charge the same price ⁎p⁎, and all consumers – loss-neutral and loss-averse ones – inspect all products and trade with their closest firm. We can show that for any price ⁎p⁎ in the range(11)⁎⁎⁎c+tn≤p⁎...
The Equilibrium Real Exchange Rate CristinaTerra, inPrinciples of International Finance and Open Economy Macroeconomics, 2015 5.2.4Price Index and Real Exchange Rate The consumerprice indexis a weighted average of the prices of consumption goods, where the weight attributed to the price of each good...