Answer:
The quota system is not efficient since the total supply is less than the equilibrium quantity. This will produce a deadweight loss which equals the lost supplier surplus plus the lost consumer surplus. The deadweight loss s the area between the demand and supply curve, and between the imposed quota and the equilibrium quantity.
Graph 1 shows the market equilibrium while graph 2 shows the deadweight loss.
Answer and Explanation:
The computation of the variable cost per unit and the total fixed cost is shown below;
a. The variable cost per unit is
= (Highest total cost - lowest total cost) ÷ (Highest units produced - lowest units produced)
= ($440,000 - $300,000) ÷ (5,500 - 2,700)
= $140,000 ÷ 2,800
= $50
b. The total fixed cost is
= $440,000 - 5,500 × $50
= $440,000 - $275,000
= $165,000
Answer:
The answer is "Option c".
Explanation:
The Marginal external cost, owing only to the production of an extra unit of goods or services, is the cost changes for persons besides the producer or buyer of goods or services. In this, question the "option c" is right in, this regard because it needs a correction tax of less than $10 per unit of production.
A perfectly competitive market has many buyers and sellers (option c).
<h3>What is a
perfectly competitive market ?</h3>
A perfectly competitive market is a market where there are many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. These makes buyers and sellers price takers.
An example of a perfectly competitive market is the market for tomatoes.
To learn more about perfect competition, please check: brainly.com/question/17110476
#SPJ1
Answer: The buyer's agent should simply reveal the truth about what the buyer is planning to buy, because if e refuses to tell the truth the agent will liable.
Explanation:
