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1 year ago

Consider a good that generates external damages. A competitive market that is left un-regulated tends to.

1 answer:

4 0

Consider a good that generates external damages. A competitive market that is left un-regulated tends to. charge a lower price than the price that would result in maximized social welfare.

A market is a composition of structures, establishments, approaches, social members of the family or infrastructures wherein events interact in alternate. whilst parties may alternate goods and services by barter, maximum markets rely on sellers imparting their goods or services to consumers in alternate for cash.

A market is described as the sum general of all the consumers and sellers in the location or region under consideration. The area may be the earth, or international locations, regions, states, or cities. The cost, cost and rate of items traded are as in step with forces of deliver and demand in a market.

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Which of the following conditions distinguishes monopolistic competition from perfect competition? a. the freedom of entry and e

MariettaO [177]

Answer:

d)product differentiation

Explanation:

monopolism is when only one producer in the area produces the good/service thus there is no competition eg power supply company while perfect competition is when same type of products but different styles are produced making the business environment competitive.

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3 years ago

The College Board reported the following mean scores for the three parts of the Scholastic Aptitude Test (SAT) (The World Almana

storchak [24]

Answer:

a) $P(492$

And we can use excel or the normal standard table to find this probability:

$P(-0.949 < Z< 0.949)= P(Z$

b) $P(505$

And we can use excel or the normal standard table to find this probability:

$P(-0.949 < Z< 1.898)= P(Z$

c) $P(484$

And we can use excel or the normal standard table to find this probability:

$P(-1 < Z< 1)= P(Z$

Explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".

Part a

Let X the random variable that represent the scores for critical reading of a population, and for this case we know the distribution for X is given by:

$X \sim N(502,100)$

Where $\mu=502$ and $\sigma=100$

We select a sample of size n=90, since the distribution for X is normal then the distribution for the sample size is also normal

$\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{90}}=10.54)$

And for this case we want this probability:

$P(502-10 < \bar X < 502+10)$

And for this case we can use the z score given by:

$z= \frac{\bar X -\mu}{\sigma_{\bar x}}$

And if we use this formula we got:

$P(492$

And we can use excel or the normal standard table to find this probability:

$P(-0.949 < Z< 0.949)= P(Z$

Part b

Let X the random variable that represent the scores for Math of a population, and for this case we know the distribution for X is given by:

$X \sim N(515,100)$

Where $\mu=515$ and $\sigma=100$

We select a sample of size n=90, since the distribution for X is normal then the distribution for the sample size is also normal

$\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{90}}=10.54)$

And for this case we want this probability:

$P(515-10 < \bar X < 515+10)$

And for this case we can use the z score given by:

$z= \frac{\bar X -\mu}{\sigma_{\bar x}}$

And if we use this formula we got:

$P(505$

And we can use excel or the normal standard table to find this probability:

$P(-0.949 < Z< 1.898)= P(Z$

Part c

Let X the random variable that represent the scores for Writing of a population, and for this case we know the distribution for X is given by:

$X \sim N(494,100)$

Where $\mu=494$ and $\sigma=100$

We select a sample of size n=100, since the distribution for X is normal then the distribution for the sample size is also normal

$\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{100}}=10)$

And for this case we want this probability:

$P(494-10 < \bar X < 494+10)$

And for this case we can use the z score given by:

$z= \frac{\bar X -\mu}{\sigma_{\bar x}}$

And if we use this formula we got:

$P(484$

And we can use excel or the normal standard table to find this probability:

$P(-1 < Z< 1)= P(Z$

3 0

3 years ago

Fish and chips are complementary goods. what would shift the demand curve for chips to the left?

Dimas [21]

Answer:

Vegans

Explanation:

4 0

2 years ago

Ben & Jerry’s Homemade, Inc., the Vermont-based manufacturer of ice cream, frozen yogurt, and sorbet, was known for having a

PolarNik [594]

Answer:

Five Cultural Dimension are discussed as under:

Explanation:

Geert Hofstede's five cultural dimensions standard is used for understanding cultural differences and highly valued because it provides the understanding of the culture of a particular market and these are as under:

Number 1. Power Distance

The Power Distance talks about how much inequality is accepted in the culture by the dominant players of the society. The way the society handles the issues tells about how they handle inequalities.

Number 2. Individualism versus collectivism

The individualism dimension is talks about how much an individual interest are important as opposed to the group interests. The higher value of individual as opposed to the group interest is Individualism and lower value of individual as opposed to the group interest is Collectivism. It basically represents how much the individual values the interest of a group when these interest are in conflict with their interest. Similarly it also tells how much the group values the interest of an individual when these interest are in conflict with their interest.

Number 3. Masculinity

The masculinity dimension is all about the things and values in a culture that are considered very important and has greater influence of masculine side. The dimension basically considers the preference of values in the society which includes social work, heroism, Patriotism, etc.

Number 4. Uncertainty Avoidance

The uncertain avoidance dimension tells about the risks and uncertainty that the dominant players of the society considers in policy reforms and are concerned with the issues mitigation.

Number 5. Indulgence

The indulgence dimension means how much an individual or the society as a whole are are capable to control their desires and impulses. This also means how much their desires are valuable than others and how they are going to achieve it in practical life.

4 0

3 years ago

The MR = MC rule can be restated for a purely competitive seller as P = MC because:?

Anit [1.1K]

1 each additional unit of output adds exactly its price to total revenue

6 0

1 year ago