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ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework//tutorfortune.com

ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework//tutorfortune.com<br><br>Click on below link to buy<br>https://tutorfortune.com/products/eco-365-week-2-apply-market-dynamics-and-efficiency-homework<br><br>ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework<br>Review the Week 2 Market Dynamics and Efficiency Quiz in preparation for this assignment. <br><br>Complete the Week 2 Market Dynamics and Efficiency Homework in McGraw-Hill Connectu00ae. These are randomized questions. <br><br>Note: You have only one attempt available to complete assignments. Grades must be transferred manually to eCampus by your instructor. Don't worry, this might happen after the due date.<br><br> <br><br>If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to be<br><br>Multiple Choice<br><br><br><br>subsidized.<br><br><br><br>prohibited.<br><br><br><br>taxed.<br><br><br><br>left alone.<br>ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework<br><br>Click on below link to buy<br>https://tutorfortune.com/products/eco-365-week-2-apply-market-dynamics-and-efficiency-homework<br><br>

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  1. ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework//tutorfortune.com Click on below link to buy https://tutorfortune.com/products/eco-365-week-2-apply-market-dynamics-and- efficiency-homework E C O 3 6 5 We e k 2 A p p l y Ma r k e t D y n a mi c s a n d E ffic i e n c y H o me w o r k R e v i e w   t h e We e k 2 Ma r k e t D y n a mi c s a n d E ffi c i e n c y Q u i z i n p r e p a r a t i o n f o r t h i s a s s i g n me n t .   C o mp l e t e   t h e We e k 2 Ma r k e t D y n a mi c s a n d E ffi c i e n c y H o me w o r k i n Mc G r a w - H i l l C o n n e c t ® . T h e s e a r e r a n d o mi z e d q u e s t i o n s .   N o t e : Y o u h a v e o n l y o n e a t t e mp t a v a i l a b l e t o c o mp l e t e a s s i g n me n t s . G r a d e s mu s t b e t r a n s f e r r e d ma n u a l l y t o e C a mp u s b y y o u r i n s t r u c t o r . D o n ' t w o r r y , t h i s mi g h t h a p p e n a f t e r t h e d u e d a t e .   T h e d e ma n d a n d s u p p l y s c h e d u l e s f o r s u n s c r e e n a t a s ma l l b e a c h a r e s h o w n b e l o w .   Ma r k e t f o r S u n s c r e e n P r i c e ( d o l l a r s p e r b o t t l e ) Q u a n t i t y o f S u n s c r e e n D e ma n d e d ( b o t t l e s ) Q u a n t i t y o f S u n s c r e e n S u p p l i e d ( b o t t l e s ) $ 3 5 1 , 0 0 0 8 , 5 0 0 3 0 2 , 0 0 0

  2. 7 , 0 0 0 2 5 3 , 0 0 0 5 , 5 0 0 2 0 4 , 0 0 0 4 , 0 0 0 1 5 5 , 0 0 0 2 , 5 0 0 1 0 6 , 0 0 0 1 , 0 0 0   I n s t r u c t i o n s :   E n t e r y o u r a n s w e r s a s a w h o l e n u mb e r .   a . I f t h e p r i c e i s $ 1 5 p e r b o t t l e , h o w ma n y b o t t l e s o f s u n s c r e e n a r e d e ma n d e d a n d s u p p l i e d ?   Q d   =       b o t t l e s             Q s   =     b o t t l e s  

  3.         I n t h i s c a s e , t h e r e w o u l d b e   u p w a r d   p r e s s u r e o n t h e p r i c e .   b . Wh a t i s t h e e q u i l i b r i u m p r i c e a n d q u a n t i t y i n t h e ma r k e t f o r s u n s c r e e n ?             P   =                   Q   =     b o t t l e s     T h e ma r k e t f o r i c e c r e a m b a r s o n a h o t d a y a t t h e l o c a l b e a c h i s s u mma r i z e d i n t h e t a b l e b e l o w .   Ma r k e t f o r I c e C r e a m B a r s P r i c e ( d o l l a r s ) Q u a n t i t y o f I c e C r e a m B a r s D e ma n d e d Q u a n t i t y o f I c e C r e a m B a r s S u p p l i e d $ 1 . 4 0 3 1 0 1 0 0

  4. 1 . 6 0 2 8 0 1 4 0 1 . 8 0 2 5 0 1 8 0 2 . 0 0 2 2 0 2 2 0 2 . 2 0 1 9 0 2 6 0 2 . 4 0 1 6 0 3 0 0 2 . 6 0 1 3 0 3 4 0   I n s t r u c t i o n s :   E n t e r y o u r a n s w e r a s a w h o l e n u mb e r .   D e t e r mi n e w h e t h e r t h e r e i s a s u r p l u s o r a s h o r t a g e a t a p r i c e o f $ 1 . 8 0 p e r i c e c r e a m b a r , a n d d e t e r mi n e t h e s i z e o f t h e s u r p l u s o r s h o r t a g e .      

  5.   T h e r e i s a s h o r t a g e i n a ma r k e t f o r a p r o d u c t w h e n Mu l t i p l e C h o i c e   t h e c u r r e n t p r i c e i s l o w e r t h a n t h e e q u i l i b r i u m p r i c e . q u a n t i t y d e ma n d e d i s l o w e r t h a n q u a n t i t y s u p p l i e d . d e ma n d i s l e s s t h a n s u p p l y . s u p p l y i s l e s s t h a n d e ma n d .     A s s u me t h a t t h e g r a p h s s h o w a c o mp e t i t i v e ma r k e t f o r t h e p r o d u c t s t a t e d i n t h e q u e s t i o n .

  6.   S e l e c t t h e g r a p h a b o v e t h a t b e s t s h o w s t h e c h a n g e i n t h e ma r k e t f o r l e a t h e r c o a t s w h e n l e a t h e r c o a t s b e c o me   mo r e   f a s h i o n a b l e a mo n g y o u n g c o n s u me r s .   Mu l t i p l e C h o i c e   g r a p h ( 1 ) g r a p h ( 2 ) g r a p h ( 3 ) g r a p h ( 4 )  

  7.   U s e t h e f o l l o w i n g g r a p h f o r t h e mi l k ma r k e t t o a n s w e r t h e q u e s t i o n b e l o w . T h e r e w o u l d b e e x c e s s p r o d u c t i o n o f mi l k w h e n e v e r t h e p r i c e i s   Mu l t i p l e C h o i c e   g r e a t e r t h a n $ 1 . 5 0 p e r g a l l o n . g r e a t e r b u t n o t l e s s t h a n $ 2 . 0 0 p e r g a l l o n . l e s s b u t n o t g r e a t e r t h a n $ 2 . 0 0 p e r g a l l o n . l e s s t h a n $ 1 . 5 0 p e r g a l l o n .  

  8.         T h e r e i s a s u r p l u s i n a ma r k e t f o r a p r o d u c t w h e n   Mu l t i p l e C h o i c e   q u a n t i t y d e ma n d e d i s g r e a t e r t h a n q u a n t i t y s u p p l i e d . d e ma n d i s l e s s t h a n s u p p l y . q u a n t i t y d e ma n d e d i s l e s s t h a n q u a n t i t y s u p p l i e d . t h e c u r r e n t p r i c e i s l o w e r t h a n t h e e q u i l i b r i u m p r i c e .

  9.     U s e t h e f o l l o w i n g g r a p h f o r t h e mi l k ma r k e t t o a n s w e r t h e q u e s t i o n b e l o w . I n t h i s ma r k e t , t h e e q u i l i b r i u m p r i c e i s _ _ _ _ a n d e q u i l i b r i u m q u a n t i t y i s _ _ _   Mu l t i p l e C h o i c e   $ 1 . 5 0 p e r g a l l o n ; 3 0 mi l l i o n g a l l o n s . $ 1 . 5 0 p e r g a l l o n ; 2 8 mi l l i o n g a l l o n s . $ 1 . 0 0 p e r g a l l o n ; 3 5 mi l l i o n g a l l o n s .

  10. $ 2 8 p e r g a l l o n ; 1 5 0 mi l l i o n g a l l o n s .     I n c o mp e t i t i v e ma r k e t s , a s u r p l u s o r s h o r t a g e w i l l   Mu l t i p l e C h o i c e   c a u s e c h a n g e s i n t h e q u a n t i t i e s d e ma n d e d a n d s u p p l i e d t h a t t e n d t o i n t e n s i f y t h e s u r p l u s o r s h o r t a g e . c a u s e c h a n g e s i n t h e q u a n t i t i e s d e ma n d e d a n d s u p p l i e d t h a t t e n d t o e l i mi n a t e t h e s u r p l u s o r s h o r t a g e . c a u s e s h i f t s i n t h e d e ma n d a n d s u p p l y c u r v e s t h a t t e n d t o e l i mi n a t e t h e s u r p l u s o r s h o r t a g e .

  11. n e v e r e x i s t b e c a u s e t h e ma r k e t s a r e a l w a y s a t e q u i l i b r i u m.             U s e t h e f o l l o w i n g t a b l e t o a n s w e r t h e q u e s t i o n b e l o w .   P r i c e p e r U n i t Q u a n t i t y D e ma n d e d p e r Y e a r Q u a n t i t y S u p p l i e d p e r Y e a r $ 5 2 , 0 0 0 0 1 0 1 , 8 0 0 3 0 0 1 5 1 , 6 0 0 6 0 0 2 0 1 , 4 0 0

  12. 9 0 0 2 5 1 , 2 0 0 1 , 2 0 0 3 0 1 , 0 0 0 1 , 5 0 0   I n t h i s c o mp e t i t i v e ma r k e t , t h e p r i c e a n d q u a n t i t y w i l l s e t t l e a t   Mu l t i p l e C h o i c e $ 2 5 a n d 1 , 2 0 0 u n i t s . $ 1 5 a n d 1 , 6 0 0 u n i t s . $ 1 0 a n d 1 , 8 0 0 u n i t s . $ 2 0 a n d 9 0 0 u n i t s .    

  13. T h e r e i s a n e x c e s s d e ma n d i n a ma r k e t f o r a p r o d u c t w h e n   Mu l t i p l e C h o i c e   q u a n t i t y d e ma n d e d i s g r e a t e r t h a n q u a n t i t y s u p p l i e d . q u a n t i t y d e ma n d e d i s l e s s t h a n q u a n t i t y s u p p l i e d . t h e c u r r e n t p r i c e i s h i g h e r t h a n t h e e q u i l i b r i u m p r i c e . s u p p l y i s l e s s t h a n d e ma n d .        

  14. T h e ma r g i n a l b e n e fi t o f a n a d d i t i o n a l b e a c h t o w e l i s $ 1 2 . T h e ma r g i n a l c o s t o f p r o d u c i n g a n a d d i t i o n a l b e a c h t o w e l i s $ 8 . I f p r o d u c e r s a r e mi n i mi z i n g t h e a v e r a g e c o s t s o f p r o d u c t i o n , t h e n w e c a n c o n c l u d e : b e a c h t o w e l p r o d u c t i o n i s a l l o c a t i v e l y e ffi c i e n t b u t n o t p r o d u c t i v e l y e ffi c i e n t . b e a c h t o w e l p r o d u c t i o n i s n e i t h e r a l l o c a t i v e l y n o r p r o d u c t i v e l y e ffi c i e n t . b e a c h t o w e l p r o d u c t i o n i s b o t h a l l o c a t i v e l y a n d p r o d u c t i v e l y e ffi c i e n t . b e a c h t o w e l p r o d u c t i o n i s n o t a l l o c a t i v e l y e ffi c i e n t b u t i s p r o d u c t i v e l y e ffi c i e n t .     T h e d i ff e r e n c e b e t w e e n t h e ma x i mu m p r i c e a c o n s u me r i s w i l l i n g t o p a y f o r a p r o d u c t a n d t h e a c t u a l p r i c e t h e c o n s u me r p a y s i s c a l l e d

  15. Mu l t i p l e C h o i c e   u t i l i t y . c o n s u me r d e ma n d . c o n s u me r s u r p l u s . ma r k e t f a i l u r e .     C o n s u me r s u r p l u s a r i s e s i n a ma r k e t b e c a u s e   Mu l t i p l e C h o i c e  

  16. a t t h e c u r r e n t ma r k e t p r i c e , q u a n t i t y s u p p l i e d i s g r e a t e r t h a n q u a n t i t y d e ma n d e d . a t t h e c u r r e n t ma r k e t p r i c e , q u a n t i t y d e ma n d e d i s g r e a t e r t h a n q u a n t i t y s u p p l i e d . t h e ma r k e t p r i c e i s b e l o w w h a t s o me c o n s u me r s a r e w i l l i n g t o p a y f o r t h e p r o d u c t . t h e ma r k e t p r i c e i s h i g h e r t h a n w h a t s o me c o n s u me r s a r e w i l l i n g t o p a y f o r t h e p r o d u c t .           I f t h e e q u i l i b r i u m w a g e f o r f a s t - f o o d r e s t a u r a n t s i s $ 8 a n d t h e g o v e r n me n t e n f o r c e s a mi n i mu m w a g e o f $ 1 5

  17.     Mu l t i p l e C h o i c e   o v e r a l l , s o c i e t y w i l l b e b e t t e r o ff . w o r k e r s w i l l g e t p a i d l e s s . f a s t - f o o d r e s t a u r a n t s w i l l h i r e f e w e r w o r k e r s . w o r k e r s w i l l b e a b l e t o fi n d mo r e j o b s .        

  18. I n t h e ma r k e t f o r a p a r t i c u l a r p a i r o f s h o e s , J e n a i s w i l l i n g t o p a y $ 7 5 f o r a p a i r w h i l e J a n e i s w i l l i n g t o p a y $ 8 5 f o r a p a i r . T h e a c t u a l p r i c e t h a t e a c h h a s t o p a y f o r a p a i r o f s h o e s i s $ 6 5 . Wh a t i s t h e c o mb i n e d a mo u n t o f c o n s u me r s u r p l u s f o r J e n a a n d J a n e ?   Mu l t i p l e C h o i c e   $ 2 1 5 . $ 1 0 . $ 1 3 0 . $ 3 0 .    

  19.       A p r o d u c e r ’ s mi n i mu m a c c e p t a b l e p r i c e f o r a p a r t i c u l a r u n i t o f a g o o d   Mu l t i p l e C h o i c e   w i l l , f o r mo s t u n i t s p r o d u c e d , e q u a l t h e ma x i mu m t h a t c o n s u me r s a r e w i l l i n g t o p a y f o r t h e g o o d . mu s t c o v e r t h e w a g e s , r e n t , a n d i n t e r e s t p a y me n t s n e c e s s a r y t o p r o d u c e t h e g o o d b u t n e e d n o t i n c l u d e p r o fi t . i s t h e s a me f o r a l l u n i t s o f t h e g o o d . e q u a l s t h e ma r g i n a l c o s t o f p r o d u c i n g t h a t p a r t i c u l a r u n i t .

  20.           C h a r l i e i s w i l l i n g t o p a y $ 1 0 f o r a T - s h i r t t h a t i s p r i c e d a t $ 9 . I f C h a r l i e b u y s t h e T - s h i r t , t h e n h i s c o n s u me r s u r p l u s i s   Mu l t i p l e C h o i c e   $ 1 9 . $ 0 . 9 0 . $ 9 0 .

  21. $ 1 .         G r a p h i c a l l y , p r o d u c e r s u r p l u s i s me a s u r e d a s t h e a r e a   Mu l t i p l e C h o i c e   a b o v e t h e s u p p l y c u r v e a n d a b o v e t h e a c t u a l p r i c e . a b o v e t h e s u p p l y c u r v e a n d b e l o w t h e a c t u a l p r i c e . u n d e r t h e d e ma n d c u r v e a n d b e l o w t h e a c t u a l p r i c e .

  22. u n d e r t h e d e ma n d c u r v e a n d a b o v e t h e a c t u a l p r i c e .         P r o d u c t i v e e ffi c i e n c y o c c u r s a t t h e p o i n t w h e r e   Mu l t i p l e C h o i c e   ma r g i n a l b e n e fi t e x c e e d s ma r g i n a l c o s t b y t h e g r e a t e s t a mo u n t . t h e p r o d u c t i o n t e c h n i q u e mi n i mi z e s e c o n o mi c s u r p l u s . t h e p r o d u c t i o n t e c h n i q u e mi n i mi z e s c o s t .

  23. c o n s u me r s u r p l u s e x c e e d s p r o d u c e r s u r p l u s b y t h e g r e a t e s t a mo u n t .         T h e ma r k e t s u p p l y c u r v e i n d i c a t e s t h e   Mu l t i p l e C h o i c e   t o t a l r e v e n u e s t h a t s e l l e r s w o u l d r e c e i v e f r o m s e l l i n g v a r i o u s q u a n t i t i e s o f t h e p r o d u c t . t o t a l a mo u n t t h a t b u y e r s w i l l p a y i n b u y i n g a g i v e n q u a n t i t y o f t h e p r o d u c t . ma x i mu m p r i c e s t h a t b u y e r s a r e w i l l i n g a n d a b l e t o p a y f o r t h e

  24. p r o d u c t . mi n i mu m a c c e p t a b l e p r i c e s t h a t s e l l e r s a r e w i l l i n g t o a c c e p t f o r t h e p r o d u c t .           Wh i c h o f t h e f o l l o w i n g g o o d s i s   b o t h   n o n r i v a l a n d n o n e x c l u d a b l e ? A h o t d o g a t a h o t d o g s t a n d A t u n a i n t h e o c e a n A s o c c e r ma t c h i n a s t a d i u m

  25. T h e l i g h t f r o m a l i g h t h o u s e a t a h a r b o r e n t r a n c e             Wh i c h o f t h e f o l l o w i n g g o o d s i s n o n r i v a l ? A s o c c e r ma t c h i n a s t a d i u m  A v i s i t t o t h e d o c t o r a t h e r o ffi c e A p i z z a a t a p i z z a p a r l o r A t u n a i n t h e o c e a n  

  26.         T h e p r o d u c t i o n o f p a p e r o f t e n c r e a t e s a w a s t e p r o d u c t t h a t p o l l u t e s w a t e r w a y s .   A s s u me   t h e p r o d u c e r o f p a p e r d o e s n o t d i r e c t l y p a y t o d i s p o s e o f t h e w a s t e i n t h e w a t e r .   I n t h i s c a s e , t h e p r i c e o f p a p e r w i l l b e           t h e s o c i a l l y e ffi c i e n t p r i c e a n d t h e a mo u n t o f p a p e r p r o d u c e d w i l l b e           t h e s o c i a l l y e ffi c i e n t a mo u n t .         I f o n e p e r s o n ’ s c o n s u mp t i o n o f a g o o d d o e s n o t p r e c l u d e a n o t h e r ’ s c o n s u mp t i o n , t h e g o o d i s s a i d t o b e  

  27. Mu l t i p l e C h o i c e   n o n e x c l u d a b l e . r i v a l i n c o n s u mp t i o n . n o n r i v a l i n c o n s u mp t i o n . e x c l u d a b l e .     I f t h e r e a r e e x t e r n a l b e n e fi t s a s s o c i a t e d w i t h t h e c o n s u mp t i o n o f a g o o d o r s e r v i c e   Mu l t i p l e C h o i c e  

  28. t h e p r i v a t e d e ma n d c u r v e w i l l o v e r e s t i ma t e t h e t r u e d e ma n d c u r v e . c o n s u me r s w i l l b e w i l l i n g t o p a y f o r a l l t h e s e b e n e fi t s i n p r i v a t e ma r k e t s . t h e ma r k e t d e ma n d c u r v e w i l l b e t h e v e r t i c a l s u mma t i o n o f t h e i n d i v i d u a l d e ma n d c o s t s . t h e p r i v a t e d e ma n d c u r v e w i l l u n d e r e s t i ma t e t h e t r u e d e ma n d c u r v e .             I f a g o o d t h a t g e n e r a t e s n e g a t i v e e x t e r n a l i t i e s w e r e p r i c e d t o t a k e

  29. t h e s e n e g a t i v e e x t e r n a l i t i e s i n t o a c c o u n t , i t s   Mu l t i p l e C h o i c e   p r i c e w o u l d d e c r e a s e , a n d i t s o u t p u t w o u l d i n c r e a s e . p r i c e w o u l d r e ma i n c o n s t a n t a n d o u t p u t w o u l d i n c r e a s e . p r i c e w o u l d i n c r e a s e b u t i t s o u t p u t w o u l d r e ma i n c o n s t a n t . p r i c e w o u l d i n c r e a s e , a n d i t s o u t p u t w o u l d d e c r e a s e .        

  30. Wh a t a r e t h e t w o c h a r a c t e r i s t i c s t h a t d i ff e r e n t i a t e p r i v a t e g o o d s f r o m p u b l i c g o o d s ?   Mu l t i p l e C h o i c e   o w n e r s h i p a n d u s a g e n e g a t i v e e x t e r n a l i t y a n d p o s i t i v e e x t e r n a l i t y r i v a l r y a n d e x c l u d a b i l i t y ma r g i n a l c o s t a n d ma r g i n a l b e n e fi t     A n e g a t i v e e x t e r n a l i t y o r s p i l l o v e r c o s t ( a d d i t i o n a l s o c i a l c o s t ) o c c u r s w h e n

  31.   Mu l t i p l e C h o i c e   t h e p r i c e o f t h e g o o d e x c e e d s t h e ma r g i n a l c o s t o f p r o d u c i n g i t . fi r ms f a i l t o a c h i e v e a l l o c a t i v e e ffi c i e n c y . t h e t o t a l c o s t o f p r o d u c i n g a g o o d e x c e e d s t h e c o s t s b o r n e b y t h e p r o d u c e r . fi r ms f a i l t o a c h i e v e p r o d u c t i v e e ffi c i e n c y .     Wh e r e t h e r e a r e s p i l l o v e r ( o r e x t e r n a l ) b e n e fi t s f r o m h a v i n g a p a r t i c u l a r p r o d u c t i n a s o c i e t y , t h e g o v e r n me n t c a n ma k e t h e q u a n t i t y o f t h e p r o d u c t a p p r o a c h t h e s o c i a l l y o p t i ma l l e v e l b y d o i n g t h e f o l l o w i n g   e x c e p t

  32.   Mu l t i p l e C h o i c e   p r o v i d i n g t h e p r o d u c t i t s e l f . t a x i n g t h e s e l l e r s o f t h e p r o d u c t . s u b s i d i z i n g t h e b u y e r s o f t h e p r o d u c t . s u b s i d i z i n g t h e s e l l e r s o f t h e p r o d u c t .     I f s o me a c t i v i t y c r e a t e s e x t e r n a l b e n e fi t s a s w e l l a s p r i v a t e b e n e fi t s , t h e n e c o n o mi c t h e o r y s u g g e s t s t h a t t h e a c t i v i t y o u g h t t o b e Mu l t i p l e C h o i c e

  33. s u b s i d i z e d . p r o h i b i t e d . t a x e d . l e f t a l o n e . E C O 3 6 5 We e k 2 A p p l y Ma r k e t D y n a mi c s a n d E ffic i e n c y H o me w o r k Click on below link to buy https://tutorfortune.com/products/eco-365-week-2-apply-market-dynamics-and- efficiency-homework

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