Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Question: Economists have long known that free markets are perfectly efficient. Consider Q1 in the graph, above. How much do consumers value one more unit of output (Q1 + 1)? How much do producers value one more unit of output? Use the concepts of consumer surplus and producer surplus to explain why Q2 is more efficient than Q1. Now use the concept of total economic surplus to explain why the equilibrium quantity is the most efficient. Why would Q4 be less efficient than the equilibrium quantity?

276_Supply.png

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92585656

Have any Question?


Related Questions in Microeconomics

Question the new shoes simulation offers three regions in

Question: The New Shoes simulation offers three regions in which your athletic shoe company operates. The foreign region may be an option for your organization to develop. Which strategies would be best suited to meet th ...

Question consider again the new york taxi market where

Question: Consider again the New York taxi market, where demand is given by Q = 10 - .5P, each taxi's cost is C = 980 + 3Q, and ACMIN = $10 at 140 trips per week. a. Suppose that, instead of limiting medallions, the comm ...

Question the country of leverett is a small open economy

Question: The country of Leverett is a small open economy. Suddenly, a change in world fashions makes the exports of Leverett unpopular. a. What happens in Leverett to saving, investment, net exports, the interest rate, ...

Question unlike the pin makers after the boss arrives

Question: Unlike the pin makers after the boss arrives, employees in some businesses do provide their own capital goods. a. In some cities taxi drivers must buy their own cars or lease them from an approved agency rather ...

Question give an explanation of a threat to internal

Question: Give an explanation of a threat to internal validity and a threat to external validity in quantitative research. Next, explain a strategy to mitigate each of these threats. Then, identify a potential ethical is ...

Question abc company pays members of its sales force

Question: ABC Company pays members of its sales force commissions based on their dollar volumes, but XYZ Company pays its salespeople fixed monthly salaries. What characteristics of the company, its market, or the produc ...

Question for the healthcare industry submit analysis of

Question: For the healthcare Industry: Submit analysis of current forces affecting the auto industry and begin competitve structure and resources). 1. Include charts/graphs and tables indicating trends 2. Describe indust ...

Question you are buying a car for 20000 with 4000 down

Question: You are buying a car for $20,000 with $4,000 down payment. You will pay for the remaining amount with 30 equal monthly payments with interest at 12%, compounded monthly. How much is your monthly payment? The re ...

Question very time we have to make a choice we are faced

Question: Very time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life, identify a situation where you were presented with a choice, the opportunity cost of the cho ...

Question in a local market the monthly price of internet

Question: In a local market, the monthly price of Internet access service decreases from $20 to $10, and the total quantity of monthly accounts across all Internet access providers increases from 80,000 to 180,000 What i ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved