Max owns the only fresh water spring in a small village and is therefore a monopolist selling gallons of spring water to villagers. Since he already owns the spring, he has no production costs, so his marginal cost and average total costs are equal to zero.
a. In a correctly labeled graph, identify each of the following:
Answers
The graph is given below based on the information about the monopoly.
How to explain the graphMonopoly equilibrium occurs at MR = MC
Since, MC = AC = 0
So, monopoly equilibrium occurs at MR = 0 at Point A where monopoly price is Qm and monopoly quantity is Qm
Monopoly profit = M
Consumer surplus with the monopoly = C
Deadweight loss with the monopoly = D
In the perfectly competitive market equilibrium occurs at P = MC = 0 . So, competitive quantity is B.
And, consumer surplus in competitive market = C + M + D
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Related Questions
Psychology – “Inception” Movie Assignment
Directions: Keep the questions listed below in mind as you view the film and provide a thorough typed response to each following the conclusion.
Completed questions are worth 5 pts. of EC.
1. Cobb and his team specialize in manipulating someone’s thoughts or dreams to extract or plant ideas and information. Discuss the different ways you see information manipulated in the world around you. How does the control of information impact perception/reality?
2. Throughout the movie we see the dreams of several characters. Overall, which theory of dreaming that we discussed in class best explains the dreams portrayed in the movie? Use evidence and examples to support your answer.
3. According to current psychological research, it appears that sensory information can make its way into our dreams. Is this fact accurately portrayed in the movie? Explain.
4. What do Mal’s continued appearances in Cobb’s dreams symbolize, in your opinion? Provide examples from the film and an explanation to support your answer.
5. Would you give up the ability to dream normally if it meant that you could share dreams like they do in this film? Why or why not?
Answers
2. The theory of dreaming that best explains the dreams portrayed in the movie is the cognitive theory of dreaming. According to this theory, dreams are the result of the brain's attempt to make sense of random neural activity that occurs during sleep. The dreams portrayed in the movie are a product of the characters' subconscious minds, and they reflect their fears, desires, and memories. The characters' dreams are also influenced by external stimuli, such as music or physical sensations, which are integrated into the dream narrative.
3. Yes, sensory information can make its way into our dreams, and this fact is accurately portrayed in the movie. For example, in the movie, the characters' dreams are influenced by external stimuli, such as music or physical sensations, which are integrated into the dream narrative. In real life, people can dream about sounds they hear while sleeping, or physical sensations they experience, such as pain or hunger.
4. Mal's continued appearances in Cobb's dreams symbolize his guilt and his inability to let go of his past. Mal represents Cobb's subconscious desire to reunite with his wife, who died in the real world. Mal's appearances in Cobb's dreams are a manifestation of his guilt for causing her death and his inability to move on. For example, in one scene, Mal tells Cobb, "You keep trying to create a world where you can be together. That's not real." This statement reflects Cobb's inner conflict between his desire to be with his wife and his realization that he needs to let her go.
5. I would not give up the ability to dream normally if it meant that I could share dreams like they do in this film. Dreams are an essential part of our mental and emotional well-being, and they help us process our experiences and emotions. Sharing dreams with others could be an invasion of privacy, and it could also lead to confusion between reality and dreams. Additionally, the idea of someone else manipulating my dreams is unsettling, and it could have unintended consequences.
Information manipulation is prevalent in various forms in our daily lives.
In today's digital age, information can be easily manipulated, misrepresented, or distorted through social media, propaganda, fake news, and advertising.
How does the control of information impact perception/reality?Social media algorithms also personalize the content we see, which can lead to filter bubbles and confirmation bias. Additionally, individuals and organizations can use information manipulation as a tool of control or influence over others.
The manipulation of information can have a significant impact on perception and reality. When information is controlled or distorted, it can lead to false beliefs, misunderstandings, and misguided actions.
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Moral Dilemas Psychology
Scenario #2
While leaving work at the end of your shift you punch out only to find someone who has not been at work also punching the clock to time out. The person says they know that they are not being honest but they need extra hours because they are in debt and have to pay off their bills. You know that the shop owner is barely keeping the shop open and feel some loyalty to her as she is willing to give you hours that work with your schedule. You also understand your co-workers plight and do not want them to lose their job. Do you tell the owner what you saw? Why or why not?
Answers
In this case, there is a underlying debase about what the right thing to to is based on who suffers. To keep quiet is to let the business suffer. To speak is for the co-staff to suffer. Hence the dilemma.
How is this so?Note that many dilemmas are really not dilemmas. They only present to be so because we are humans and humans have emotions. We emphathize.
One of the best ways to resolve dilemmas is to do the right thing while exploring creative ways to ease the suffering.
So in this case, the right thing to do is to tell the business owner. On the principle of mercy and corrections, they may have reconsider letting the co-worker go thus, preserving the business adn the employee's job.
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Which country has the largest forest area? A) Russian Federation B) Brazil C) Canada D) United States E) China
Answers
Answer:
A) Russian Federation.
Explanation:
Explain why the buggy appears to be moving at different rates for the different situations
Answers
For each module:
• write a catchy headline that clearly and concisely sums up your chosen idea or
concept
.
.
write a brief explanation that includes a description of the concept, why it is important,
and how it can be applied to your life to make a positive impact
choose an exciting, powerful, or engaging image that illustrates your concept
Remember, you are writing one for each module, so you will have a total of five headlines, five
descriptions, and five images.
Answers
Headline: The Power of Mindfulness: A Pathway to Inner Peace and Emotional Resilience
Description: Mindfulness is a state of active, open attention to the present. It is an essential practice for emotional and mental well-being. Mindfulness can help reduce stress, anxiety, and depression, and improve cognitive function and overall health. By being mindful, you can cultivate greater awareness of your thoughts, emotions, and physical sensations, and develop greater emotional resilience. You can apply mindfulness to your life by incorporating mindfulness practices such as meditation, deep breathing, and mindful movement into your daily routine.
Image: A person meditating in nature
Module 2:
Headline: The Art of Effective Communication: Building Strong Relationships and Resolving Conflicts
Description: Effective communication is the key to building strong relationships and resolving conflicts. It involves active listening, empathy, and clear expression of thoughts and emotions. Effective communication can help you develop deeper connections with others, overcome misunderstandings, and build trust. You can apply effective communication to your life by practicing active listening, expressing your thoughts and emotions clearly and respectfully, and seeking to understand others' perspectives.
Image: Two people having a conversation
Module 3:
Headline: The Science of Happiness: Cultivating Joy and Gratitude in Everyday Life
Description: Happiness is an essential component of well-being. It is a state of well-being characterized by positive emotions, engagement, and meaning. Cultivating happiness involves developing positive emotions such as joy, gratitude, and contentment. You can apply the science of happiness to your life by practicing gratitude, engaging in activities that bring you joy, and developing a sense of purpose and meaning.
Image: A person smiling and enjoying a beautiful sunset
Module 4:
Headline: The Power of Positive Thinking: Transforming Negative Thoughts into Positive Ones
Description: Positive thinking is a powerful tool for transforming negative thoughts into positive ones. It involves focusing on positive thoughts, emotions, and experiences, and reframing negative thoughts into positive ones. Positive thinking can help you overcome negative emotions such as anxiety, depression, and stress, and improve your overall well-being. You can apply positive thinking to your life by practicing positive self-talk, focusing on positive aspects of your life, and reframing negative experiences into positive ones.
Image: A person looking at a bright light at the end of a dark tunnel
Module 5:
Headline: The Art of Resilience: Bouncing Back from Adversity and Overcoming Challenges
Description: Resilience
Item 13
A student is applying to two different agencies for scholarships. Based on the student’s academic record, the probability that the student will be awarded a scholarship from Agency A is 0. 55 and the probability that the student will be awarded a scholarship from Agency B is 0. 40. Furthermore, if the student is awarded a scholarship from Agency A, the probability that the student will be awarded a scholarship from Agency B is 0. 60. What is the probability that the student will be awarded at least one of the two scholarships?
Answers
We can use the formula:
P(A or B) = P(A) + P(B) - P(A and B)
We know that P(A) = 0.55, P(B) = 0.40, and P(B|A) = 0.60. To find P(A and B), we can use the formula:
P(A and B) = P(B|A) * P(A)
P(A and B) = 0.60 * 0.55 = 0.33
Now we can substitute into the formula for P(A or B):
P(A or B) = 0.55 + 0.40 - 0.33 = 0.62
Therefore, the probability that the student will be awarded at least one of the two scholarships is 0.62.
Moral dilemas Psychology
Scenario #1
Suppose that you have an eighth hour class that not exactly ‘your favorite’. Before class one day a group of your friends who do not have an eighth hour class invite you to ditch class and go to Starbucks. They have some extra passes they could use as a cover to make it look like you were being called to the counselor’s office. What would you do? Would you go to class, or would you go with your friends? Why or why not?
Answers
The situation poses a moral conundrum as, while enjoying the company of friends at Starbucks can be an enjoyable experience and foster stronger interpersonal connections, it also presents ethical considerations.
What is the dilemmas about?Avoiding attendance of classes, also, can have adverse effects on both your academic performance and the sense of duty you hold as a pupil.
To make a prudent choice, it might be good to contemplate the probable outcomes of every alternative. In the end, the individual's personal values and priorities will determine the final decision. It could prove advantageous to assess the advantages and disadvantages and deliberate what will yield the greatest durable advantage and contentment.
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Use the excerpt from the Navigation Act to answer the question.
Using the excerpts, answer (a), (b), and (c).
(a) In 1–2 sentences, describe ONE way in which mercantilism influenced the development of this policy.
(b) In 2–3 sentences, explain ONE way in which this policy affected England’s North American colonies.
(c) In 1–2 sentences, explain ONE reason those colonies began to resist mercantilism in favor of commercialism and capitalism.
Answers
The Navigation Acts were impacted by Mercantilism which advocated that a state's prosperity and power were determined by its wealth of valuable metals and trading equilibrium, resulting in limitations in the colonial commercial exchanges with other countries.
What is the Navigation Act?The North American colonies of England were known to be have been impacted by the Navigation Acts as they were obligated to conduct trade exclusively with England, resulting in a surge in profits for English merchants and a surge in unlawful trade among the colonies.
Therefore, One factor that contributed to the resistance of colonies towards mercantilism was their recognition of the advantages afforded by commercialism and capitalism.
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The process of selecting the jury is called voir dire. True False
Answers
The procedure by which the parties select a fair and impartial jury is known as Voir dire. During voir dire, both sides' lawyers interrogate the jury panel.
The jury is chosen from the panel following voir dire.The general principles are as follows: Members of a jury shall be chosen at random from the panel, subject to any legal rules governing the ability to challenge.
The Juries Act of 1974 specifies which types of people are disqualified or ineligible to serve on a jury.
A group of qualified potential jurors are summoned to a courthouse for jury selection. Multiple panels may be assigned to the same courtroom.
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