1. Suppose a competitive industry in in long-run equilibrium; then1. Suppose a competitive industry in in long-run equilibrium; then the price of a substitute good (in consumption) decreases. What ha Suppose the marginal benefit curve (demand) hits the vertical axis at $20. The net benefit...
At equilibrium prices, both buyers and sellers maximize their economic gains relative to the limits of technology and the resources they have available. Not everyone gets everything they want, but all parties in the market balance their wants against unavoidablescarcityof economic goods as best they...
Consider a world consisting of equal-sized economies, the United States and China, that are on a system of fixed exchange rates. Initially, both economies are in a current-account equilibrium. Suppose Give a numerical example to illustrate what the depreci...
Here are the typical short-phrase consequences observed: •Loss of memory •Improved urge for food •Modified sense of time •Frame of mind alterations •Hallucinations and delusions •Problems considering and dilemma solving •Sluggish response time •Equilibrium and sychronisation problem...
the sectors that produced those goods and services receive income for output that they did not consume. This private surplus takes the form of securities, and in equilibrium, those securities are exactly the same ones (Treasury debt and base money) that the government issued in order to finance...
First, utility functions determine individuals' insurance purchasing decisions, which determine the insurance demand curve and hence the equilibrium price of insurance when all risks are pooled. Second, utility functions determine the utilities which individuals assign to their outcomes given an equilibrium...
We show that, when rational behaviour of profit maximizing firms is taken into account, stratified cost-effectiveness analysis and marginal value-based prices lead to the same equilibrium, which is efficient only if the population is sufficiently homogeneous. Inefficiency arises because some patients ...
High-income countries, for example, can easily afford imported food even when food prices on world markets are high and/or volatile. Yet other countries with SSRs below 100% may find it very difficult to secure adequate food imports for their population. Each country faces a unique set of ...
First, Jim’s consumer equilibrium is achieved when there exists5个回答 首先,吉姆的消费者均衡实现时存在2013-05-23 12:21:38 回答:匿名 第一,吉姆的消费者均衡时实现存在 2013-05-23 12:23:18 回答:匿名首先,当那里存在时,吉姆的消费者平衡达到 2013-05-23 12:24:58 回答:匿名...
II. the market equilibrium is only efficient if the externality is an external benefit III. social surplus is not maximized IV. the government may increase efficiency by imposing a tax on the market a. I only b. II, III, and IV only ...