Economics Answers

In the short run, the monopolist ;
a) Breaks even, eg. makes zero economic profit
b) Makes a profit
c) Incurs loss
d) Any of the above is possible

Which type of market failure does the following represent?
(i) Construction of a bowling alley in the center of a busy town.
(ii) Charlie loves watching Sponge Bob on his local TV station but he never sends any money to support the station during its fund raising drives.
(iii) Buying a used appliance on Ebay
(iv) A mango tree in an open lot

What type of market failure is: A mango tree in an open lot?

consumer consumes only two goods for the consumer to be in equilibrium. why must rate of substitution (MRS) between the two goods must be equal to the ratio on prices of these two goods. IS it enough to ensure the equilibrium?

Hello
I had an inquiry about stocks and bonds. Do sole proprietorship and partnership have the ability to sell or buy socks as well as bonds? Or could only corporations do that.
Thank you

When student-athletes are paid, colleges will compete to pay their players more, so they can attract the best players.

If student-athletes are paid by colleges, will colleges compete to pay their players more, so they can attract the best players? And would this make it difficult for colleges with less money to catch-up?

Furthermore, I would greatly appreciate if I could get the credentials of the person answering, and permission to cite them in a debate round.

Thanks!

Two firms, VolgaBus and GMB, are competing to sell 100 buses to MetroTravel, a cityowned
bus company. They each submit a sealed bid to get the contract, with the contract
going to the lowest bid. Each firm has the option of submitting a low-price bid of $15 000
per bus, or a high-price bid of $20 000 per bus. In the event of a tie, the city will buy 50
buses from each firm.
a. Draw a payoff matrix for this simultaneous game. (4 marks)
b. Based on your matrix from part a., what will the Nash equilibrium be? Explain in detail
how you arrived at your answer. (4 marks)

Without actually calculating the elasticity of demand, as an estimation, is the demand for McCain french fries elastic or inelastic? Why, using theoretical reasoning.

Supppose that a farm's production function is determined by two factors: land area (K) and labour (L). The
production function is specified as follows:
Q = 64K^0.5 L^0.5
The farm's land area is 500 acres
The unit cost of capital and labour is as follows:
- land $10 per acre
- labour $500 per labour

What is Q when L is 1,2,3,4 and 5?

In an expansion, holding everything else constant, a previously existing budget deficit will automatically increase , partly because transfers decrease . is this correct?