Does hayek support or criticize the text book model of perfect competition?
The "meaning of competition" is a famous article. this article is a critic of the perfect competitive
model. In this critic the author states that competition doesn't exist in a p
The correct answer Is shown.
1Mil-men calculating tax revenue. calculate the area between the total price paid by uncommon; and the not
price renewed by producers. from zero to the quantity traded.
3 Sorry, your answer Is Incorrect
You wrote it producers
All else held constant, at higher prices producer surplus Increases for two reasons:
VYour answer is almost correct.
I the higher price may now make it possible for more rms to sell the product
everyone who was already goingto sell the product gets a lowe
It Is more efcient to tax:
v' Yaur answer is correct.
V several different markets at low rates than to tax fewer markets at higher rates.
all mantel: at Increasing rates.
all marlreln at a flat raise.
afewdlfferent marketaat luwratee'iantataxaemral n'iarl
Ir low prices are the result of government Intervention:
V Your answer is partially correct.
some consumers will beworeeobeoaueethe prloe letoo hut.
X some consumers Wlll he better off because there will be less competition.
Leee competition meltee ooneum
The correct answer Is shown.
When calculating producer surplus for en indhrldusl firm, subtract the nn's willingness to accept from the
X Sorry. your answer is incorrect
You wrote at economic instead of v producer.
Producer surplus Ie the dl
The canal: amar ls shown.
When a market Is not allowed to adjustto tha aqulllhrlum price and quantity traded. some economic annulus
will be last.
X Sorry. your answer is imam
You wrote at canSumer Instead of v' economic.
Social welfare Is not maximized lfthe amount of output produced ls greater than the equilibrium
3 Sorry, your answer is incorrect.
unsold production results In excess inventories that drive prices below the marginal cost.
Econ homework 2 from book
5) b- the short run change is open because the interest rates declines and the usually
means investment increases. This also means that output also falls which reduces
investment. In the medium run, there has to be a i
September 27, 2016
Extra Credit Assignment (Presidential Debate)
Question: How would they improve the economic situation?
Summary of Clintons response:
Clinton attacked Trump saying that his plan is similar to what caused the recession in
October 11, 2016
Assignment: Giselle performance review
Giselle is a romantic ballet that introduces a story about a peasant girl named Giselle
who dies. Giselle dies after she discovers that her lover named Albert is engaged to Batilda. Th
Limitations of the
By- Luis Fernandez
Identify the limitations of the
Identify the needs or opportunities
for a veterinarian
Discuss my opinion on the future of
the veterinary medicine
The Roman Empire
A. The Julio- Claudian Dynasty: Established hereditary succession (Augustus Ceasar
appointed stepsons), Emperor were involved in scandals but Rome flourished.
a. Tiberius: (first Emperor of Julio-Claudian dynasty.
b. Caligula (little Boot
Purely competitive (product) markets exist
under the following conditions
A very large number of firms and consumers
Homogeneous (standard) products
Very easy entry and exit
No non-price com
The correct answer is shown.
111e market is lmy efcient and is maximizing economic surplus In market equilibrium, were demand
X Sorry. your answer is incorrect.
You wrote at price instead of or demand.
The market In allooe'veiy efcient at e
The difference between the economic surplus when the market is at its competitive equilibrium
and the eoonomlc surplus when the market is not In equilibrium is the:
8 Your answer is correct.
V deadweight loss.
Most, if not all countries produce goods and services that help support and grow the
economy. Often times, these good and services are kept at home but other times, products are
offered in trades with other countries. S
The first article was written to inform about the presentation that Jacques Delors made to
the European Community in June 1993. The presentation was a big deal and seemingly
incredibly important, so the writer is summar
Financialization goes hand-in-hand when it comes to having a successful economy.
Financialization involves economic entities become shaped in ways that others see fit and as a
benefit. Financialization is defined as the process w
In the market structure there are different items that build the market. Some of the main
features of the market structure are: The number of firms, the market share of the largest firms,
the nature of costs, the degree to which the indus
Nike is the number one sport shoes and apparel selling company in the world with around
twelve billions in sales in 2000. This company sells sports products worldwide. Nike sells a
huge range of products, including shoes and apparel for sports activi