If some sellers exit a competitive market, how will this affect its equilibrium?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
The market supply curve in a competitive market is a horizont...View the full answer
Answered By
Caroline Kinuthia
Taking care of the smaller details in life has a larger impact in our general well being, and that is what i believe in. My name is Carol. Writing is my passion. To me, doing a task is one thing, and delivering results from the task is another thing. I am a perfectionist who always take things seriously and deliver to the best of my knowledge.
4.90+
1934+ Reviews
4277+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
In Chapter 4, you learned that when an excise tax is imposed on buyers or sellers in a competitive market, the equilibrium price rises, and the tax payment is shared between buyers and sellers. To...
-
Doctors Smith and Jones, two rival ophthalmologists, plan to enter the market for laser corrective eye surgery in a medium-size community in Illinois. Smith and Jones both utilize the same laser...
-
Multiple Choice Questions 1. A perfectly competitive firm a. Chooses its price to maximize profits. b. Sets its price to undercut other firms selling similar products. c. Takes its price as given by...
-
The dehydration butanol of alumina is carried out over a silica-alumina catalyst at 680K. CH3CH2CH2CH20H------->cat CH3CH=CHCH3 + H2O The rate law is -r Bu = KPBU/(1+KBuPBul with k= 0.054...
-
Many variables have an impact on determining the price of a house. A few of these are size of the house (square feet), lot size, and number of bathrooms. Information for a random sample of homes for...
-
The controller of a new client operating a medium-size manufacturing business complains to you that he believes the company has sustained significant losses on several occasions because certain sales...
-
2. On the Voices on Project Management blog from exercise 1, click on the category Teams link. Read and summarize one of the entries. What did the project manager do right or wrong in this entry?
-
a. Answer (a) through (c) from Exercise 11.1 using the results in column (3). b. Sketch the predicted probabilities from the probit and linear probability in columns (1) and (3) as a function of...
-
4) Read the following case carefully and answer the given questions. You have been the finance director of a clothing retailer for ten years. The companys year end is 31st December 2019, and you are...
-
Consider a 3-year semi-annual coupon paying bond issued on January 1, 2022 with a coupon rate of 5%. Further, assume that the market interest rate is 7.5% and that this does not change over the life...
-
How does the long-run supply curve differ from the short-run supply curve for a perfectly competitive firm? Explain your answer.
-
Do you think sellers in a perfectly competitive market can price their goods differently? Explain your answer.
-
Using Figure 5.88, list the following numbers from least to greatest: (a) f'(1) (b) The average value of f on 0 x 4 (c) 1 0 f(x)dx 8 f(x), 1 + + x 2 3 4 Figure 5.88
-
"New Push Ties Cost of Drugs to How Well they Work," by Loftus, and "Pay-For-Performance is No Miracle Cure," by Pauly; the authors make an argument that tying the price of a drug to its...
-
Entrepreneurs/entrepreneurship is a driving force of the U.S. economy. It has also provided great personal wealth to a host of entrepreneurs, past and present, who have dared to risk all for a dream....
-
Select a topic (the purpose) of your choice and persuade people (the audience) o As a starting point for topic ideas, consider selling a product, advertising an event, or sharing a thoughtful article...
-
What is java?
-
A local resource is any resource connected to the local LAN. A. True B. False
-
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cashflows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit...
-
Cash Flows From Financial Statement Data. The following statement of income and selected balance sheet data are given for the Lichtman Company: \section*{Required:} 1. How much cash did Lichtman pay...
-
A VMT tax of 4.4 cents per mile would internalize the external cost from collisions on average, but the external cost varies with the age of the driver. As shown in Table, the external cost of young...
-
1. The optimal level of pollution abatement is the level at which the _________ of abatement equals the _________ of abatement. 2. The marginal cost of abatement typically _________...
-
1. The optimal level of pollution abatement is the level at which the _________ of abatement equals the _________ of abatement. 2. The marginal cost of abatement typically _________...
-
Given the following financial data for the Smith Corporation, calculate the length of the firm's operating cycle (OC). Sales $2,610,000 Cost of Good Sold $2,088,000 Inventory $ 278,400 Accounts...
-
The predetermined overhead rate is usually calculated Group of answer choices At the end of each year At the beginning of each month At the beginning of the year At the end of the month
-
ajax county collects property taxes for the cities within the county, Ajax county collected 1000 from citizens in Beatty city that belong to Beatty city what would be the appropriate entries for ajax...
Study smarter with the SolutionInn App