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Economics Questions and Answers

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Answering economics questions may become a significant problem for many students at a certain point in their education process. You may have a short economics question that seems not so hard and time-consuming, but when you finally get to do it, you realize that it is more complicated than it looks, and Google search is not helping at all. There are a few websites that offer economics questions and answers for free, but they do not always provide solutions to the particular problems you have. If you need assistance with your economics homework problems or need answers to economics worksheet, test or quiz questions, be it multiple choice or free answer questions, Assignment Expert will be glad to provide it. We offer professional help with questions in a variety of economics topics you may find confusing or difficult to comprehend. Ask your economics question here, and our economics experts will answer it for free. If you need a solution to the entire set of questions or assistance with an economics project, order now, and our economics experts will help you for a reasonable price.

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If a monopolist is producing a level of output that maximizes total profit, then it will necessarily be:
minimizing total cost
maximizing profit per unit of output
maximizing total revenue
maximizing the difference between total revenue and total cost
Answered!
A profit-maximizing monopolist that sells all units of its output for a single (uniform) price will set this price:
as far above average total cost (ATC) as possible
along the elastic portion of its demand curve
along the inelastic portion of its demand curve
at the minimum of it average total cost (ATC) curve
where the marginal cost (MC) curve intersects the demand curve
Answered!
Consider a monopolist whose total cost function is TC = 40 + 4Q + Q2 and whose marginal cost function is MC = 4 + 2Q. The demand function for the firm’s good is P = 160 - 0.5Q. The firm optimizes by producing the level of output that maximizes profit or minimizes loss. If the firm uses a uniform pricing strategy, then rounded to the nearest dollar the deadweight loss that results is:
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With perfect (first-degree) price discrimination there is:
no deadweight loss
no producer surplus
one single price
an increase in consumer surplus
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1)If you are policy maker then what four steps you would take in order to increase economic growth rate.You are also required to explain these four step in the relevance of economic growth?

2)Recently Govt of Oman has decided to increase the taxes on tobacco product. how this decision is going to impact the economy and society of Oman, explain in details?
Answered!
Barriers to entering an industry:

i. result in productive efficiency
ii. result in allocative efficiency
iii. are the basis for monopolies to exist
iv. apply in the United States to only to industries dominated by a single firm
both iii and iv


A patent or copyright is a barrier to entry based on:

ownership of a key input used in the production process
large economies of scale as output increases
widespread network externalities
government action to encourage and protect private research and development efforts



A ‘natural’ monopoly, such as a local electricity provider, is the result of:

i. a firm owning or controlling a key input used in the production process
ii. long-run average total costs declining continuously as output increases
iii. long-run total costs declining continuously as output increases
iv. economies of scale existing
Answered!
Consider a profit maximizing monopolist that employs a uniform pricing strategy. If it were to produce and price at a point on the inelastic segment of its demand curve, then it could:
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your friend inherited a pizza restaurant in Fontana. Your friend is trying to decide whether to expand the delivery radius to include Rancho Cucamonga and asks for help. First, explain what marginal benefit and marginal cost analysis is. then make a list of things to investigate to determine the likely impact on revenue and costs. You do not need actual data. be sure to identify whether each item on your list impacts marginal benefit or marginal cost.
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How can the federal reserve increase the money supply using the following monetary policy tools?
A. discount rate
B.Reserve requirements
C Open market operations
D. Under what economic conditions (recession or overheated economy) would an activist economist advocate for this type of monetary policy? why?
E. Illustrate your answer with an aggregate demand and aggregate supply graph. Assume only one curved shifted (aggregate demand or short run aggregate supply.) identify any abbreviations used
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A sociologist friend says, “Since the economy is so bad, owners are likely to take a much harder-line stance, making work stoppages far more likely.” Do you agree or disagree? Justify your answer.
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