Microeconomics Questions

Therefore, a product with high total revenue is less elastic than the products with less or low total revenue. Bottled water is elastic since there exists alternative or substitute to bottled water like un-bottled water which might be cheaper. Toothpaste is also very elastic since there exists very many brands of toothpaste and some people […]

Differences between macro and micro

Micro vs Macro The basic difference between micro and macro is that micro is on a very small level and can be identified or observed while on the other hand macro is on a large level and cannot be easily identified or observed.There are several micro and macro systems which have their own explanations, definitions […]

Multiple choice question and 3 short answered question

Section Multiple choice questions (15 marks The economic behavior of individual decision makers and the determination of price and output in specific markets are both studied in a) microeconomics 2. All economic questions arise from b) scarcity 3. Because the resources are scarce, we must give up some of one good in order to acquire […]

Unique Properties of Money

Unique Properties of MoneyIdeal money has to possess some unique properties that make it used as a medium of exchange, unit of account and store of value. This means that it has to be portable, divisible, durable, of uniform quality, relatively stable in its value and has to have a low opportunity cost. Money, as […]

Some Issues on the Macro and Microeconomics

Brainstorming is a technique which involves individuals coming up together and trying to generate ideas through a session of discussion and every individual is free to express their ideas on the topic of discussion without any judgment. This though involves several techniques of brainstorming that makes the process effective in problem-solving. One of the techniques […]


Units of of workers Micro Module 2 Homework.pdf x+Xlt; -gt; C @ File | fs1/users/bianca.dahlinger/Desktop/Micro%20Module%202%20Homework.pdfMicro Module 2 Homework.pdf8 / 15Page 8#1#2#3#5#4Average costs ($)0XOutput28). As the firm in the above graph expands from plant size #1 to plant size #3, it experiences:A) diminishing returns. B) economies of scale. C) diseconomies of scale. D) constant costs.+Microeconomics

Confused About

The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $10. Sales revenue is$20 per unit. Fill in the table as much as is useful. Calculate profits and answer the followingquestions 1-7TotalAverageAverageVariableFixedTotalvariabletotalmarginalQuantitycostcostcostcostcostcost0101102283454701. What is the total cost for an output of 4 units?a) 0b)14c)60d)80e) none of the above2. What is the Average variable cost […]

Hello There Kindly Find A Screen Shot Of A Question For Microeconomics Concerning International Trade Supply And

2) The North American Free Trade Agreement (NAFTA), signed in 1994, reduced tradebarriers between the United States, Canada, and Mexico. During the 2016 presidentialcampaign, several prominent candidates from both parties denounced NAFTA as havinghad a negative impact on jobs in the United States. In particular, they cited the impact onmanufacturing jobs.a. In what ways might […]

Use The Graph Below To Answer The Following Questions A)

At 200 units of the activity, Question Use the graph below to answer the following questions: a) At 200 units of the activity, marginal benefit is $__________ and marginal cost is $__________. b) Adding the 200th unit of the activity causes net benefit to __________ (increase, decrease) by $__________. c) At 700 units of the […]

Ease Answer Questions

2a through2f. Please show your calculations and your work. Consider the following table Question ease answer questions 2 a through 2f. Please show your calculations and your work. Consider the following table below. Joe and Catherineproduce any of the following combinations of cookies and pies. Joe Catherine Cookies Pies Cookies Pies 0 30 0 20 […]

In The Short Run Monopoly Profits Select One A

may be positive, negative, or zero. b.are Question In the short run, monopoly profits: Select one: a. may be positive, negative, or zero. b. are positive if the monopolist’s elasticity of demand is less than 1. c. are positive if the monopolist’s selling price is above average variable cost. d. are positive because of the […]

Natural Monopolyselect One A

emerges when average total cost is minimized if only one firm Question Natural monopoly Select one: a. emerges when average total cost is minimized if only one firm produces the good b. is inefficient since it total costs are not minimized c. does not compete with small competitive producers of the same good d. is […]

Determine Whether Each Of The Following Topics Would More Likely Be Studied In

Question Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. -The effect of government regulation on a monopolist’s production decisions -The effect of a large government budget deficit on the economy’s price level -The effects of the Internet on the pricing of used cars *Microeconomics *Macroeconomics 6. Normative […]

What Are The Positive

Question What are the positive and negative economic effects of rent control? Question 4 — Rent Control (40 points) Let the demand and supply functions for one-bedroom rental housing in San Francisco be givenby QD = 449,000 — 200R , and Q3 = -1000 + 100R, where R is the monthly rent of a one-bedroom […]

A Recent Report On Climate Change Was In The News A Lot In The Last Year (See For Example

Question A recent report on climate change was in the news a lot in the last year (see for example https://www.washingtonpost.com/energy-environment/2018/10/08/world-has-only-years-get-climate-change-under-control-un-scientists-say/?utm_term=.02cdd9903964 ). Guidance in the UN report for slowing climate change ranged from increasing use of electric vehicles and programmable thermostats to eating less meat. With this report in mind, what are your thoughts on […]

The Market For

Question The market for lobsters is perfectly competitive. Total cost for a firm that harvests q lobsters is given by TC = 800 + 1q2. The market demand for lobsters is QD = 2000 − 5P. 1. 2. 3. 4. 2 Find the output by each firm, the market price and the number of firms […]

Major Causes of Rising House Prices in the UK

Over the last thirty years, the housing prices in the UK have increased in real terms by nearly three per cent a year. This is in contrast to other countries like France, Sweden and Germany where real estate prices have remained broadly constant or even declined. The determination of prices in local and regional housing […]

Coffee Industry and Todays Economics Demands

Running head: Coffee industry and today’s economics demands Coffee industry and today’s economics demands In APA Format AbstractThe beginning of 1999 saw a rapid fall in the prices of coffee and the same has adversely affected the producers of coffee. Coffee is the largest imported commodity which is second only to oil. This commodity is […]

Impacts of Rising Production of Biofuels on Economy

Agricultural development would make Biofuel’ s production little higher. However, farmers would be in a position to produce higher amount of corps. Biofuel demand would also be increased as it is better oil direct alternative of oil amp. gasoline. Oil market is direct competitor of Biofuel renewable energy. However, lower oil prices would put significant […]

Macroeconomics and Microeconomics

For example, when a 20% increase in vehicles results from a 20% increase in investment on manufacturing equipments, then the firm could be experiencing constant returns to scale. Question three Economic profit refers to the difference between total revenue and opportunity cost. For instance, Pesso invests $1,000 to begin a business in a particular year […]

Discussion 7 economicspricing strategies

Pricing strategies Insert Insert DISCUSSION 7 Pure competitive market structure is an example of the four main types of market structures. Agricultural products e.g. wheat, corn, milk, eggs, are examples of products that participate in a pure competitive market. There is perfect competition in such markets since many firms and companies are producing the same […]

Podcast Summary

Podcast Summary-Planet Money: Trash The podcast talked about recycling business, the difference between recyclables and trash, and the connections of recycling business to the fluctuations in petroleum prices down to the currency exchange rates between Europe and United States. In the first part of the podcast, those two people who were talking in the podcast […]


The Micro-economics Concepts Illustrated Through an Article Through the article,&nbsp.‘Supply vs. Demand: Why Is Housing Hurting?’ of October 18, 2011, posted on the Wall Street Journal, the author, Mr. Nick&nbsp.Timiraos,&nbsp.questions the forces bringing about the supply-demand&nbsp.imbalance&nbsp.and&nbsp.confusion.&nbsp.The author starts by exclaiming, “is poor supply or low demand the biggest cause for concern in the contemporary housing […]

OWhat is the definition of price elasticity of demand

Price Elasti of Demand al affiliation: Price Elasti of Demand Prince elasti of demand is a measure used in economics to show the relationship linking an alteration in the quantity demanded of a particular good and a change in the products price. In economics, the term is used when distinguishing price sensitivity where if a […]

Economic Theory of Demand and Supply

People specialize in the production of goods and services — or more existentially, as dictated by their environment, heredity, and/or fate in order to alleviate human suffering [their own existence included]. In the process of pursuit of own self-interests to satisfy needs and wants, individuals succumb to the unintended, invisible market forces that compel others […]

Antitrust behavior of Microsoft

Microsoft is leader in the operating systems market having dominated the market since 1990s. More than 90% of the personal computers in the world arerun through Microsoft’s Windows operating system. Such penetration into this market therefore created a strong argument that Microsoft has monopolized this market and should be tried under the anti-trust laws of […]

Microeconomics Monopoly

“In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit” (Stigler). Microsoft is one of the popular examples of monopoly. It should be noted that Microsoft can charge any prices to their operating system software such as […]

Economic Expectations And Principles of Economic Forces at Work

AbstractThe objective of this paper is to provide answers to the following questions: 1. What is Economics? 2. What do you expect from this class? 3. Provide an example of economic forces at work. Does this issue affect individual consumers or firms or the economy as a whole? And 4. Which economics principles govern the […]

Microeconomics (EC2021C)

This paper focuses on the costs of a rise in minimum wage, the benefits of a rise in minimum wage and finally the effect of a rise in the minimum wage when the labor market is monopsonistic. The paper discusses the effect of this rise on the supply and demand curve on labor, effect on […]

Market Structure

A detailed research plan has already been made so as to have blue print of what should and should not be done in the process of research. A detailed search for material has been made. Finally, I got all the material on the basis of which the paper is completed. Secondary data alone is used […]

The Importance of Market Structure to a Firm

In the initial stages, there are a large number of small firms starting production at about the same time. It is likely that all the small firms have similar costs of production and this is shown in the cost curve named ATCo. It is a natural process for one of them to become larger than […]

Can any business afford to be socially responsible

Can any business afford to be socially responsible? Unit: Group number: Introduction Few persons would deny today that the social, political, economic and many other aspects concerning modern culture are significantly changing. Business men and women of today may like or dislike some of these changes. however these changes exist and must be faced by […]

For Applying University of California

I consider venturing into any activity that builds up my indispensable qualities as a business economist. The activities and qualities that are illustrated by this document manifest the degree of pursuance of my career. I developed an exceptionally strong interest in Business Economics which I made a decision to major in during my further education. […]

Microeconomics Recession and restaurant dining

Microeconomics: Recession and Restaurant Dining The economic recession that hit the nation in 2009 has had adverse effects on restaurants. The supply of goods and services in restaurants was reduced tremendously during this recession. The response that restaurant chains had as a result of reduced spending by the consumers was to reduce its expansions (Sexton […]

Microeconomics Homework

On the other hand, when the rate of increase in economic growth fell by 2%, rate of increase in airborne pollutants fell by only 1%. This indicates that the increase in the rate of airborne pollutants is higher when the rate of economic growth increases. On the other side, when the rate of increase in […]

Some thoughts of the article

Some Thoughts of the Article Some Thoughts of the Article The Article entails some fundamental aspects of macro and micro economics. Whereby, macro economics refers to a branch of economics that deals with the study of aggregate behavior of an entire economy. Whereby, issues such unemployment, price changes, National income, gross national product, growth rate […]

Elasticity paper

Elasti Paper Complementary products are those that are in most cases used together. A case in point is motor vehiclesand gasoline. A motor vehicle cannot operate without gasoline. On the other hand, gasoline would not make much sense if motor vehicles were not there. Therefore, the two products are complements of each other. Products are […]

28) Refer to Figure 125 If output in this

Question 28) Refer to Figure 12-5. If output in this market were Q3, and the price were still P2, the loss in consumer surplus relative to the competitive equilibrium would be illustrated by area A)1. B)2. C)3. D)4. E)3+4. The diagram below shows the demand and supply curves in a perfectly competitive market.P 3Supply = […]

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What is an industry that has only one significant supplier? What is the nature of the product? How easy Question 1. What is an industry that has only one significant supplier? What is the nature of the product? How easy would it be to start a similar firm or stop offering the product/service? How easy […]

Table 23Quantity ofNumber of

Question Table 23 Quantity of Number of Bracelets Labor Per Week 0 0 1 200 2 360 3 480 4 560 5 600 Refer to Table 23. The table shows the number of bracelets that can be assembled per week by various numbers of workers. If the price per bracelet in a perfectly competitive product […]

1 Kennedy &amp

Sons operates in a perfectly competitive market for smoke alarms. Kennedy amp Sons is currently Question 1. Kennedy Sons operates in a perfectly competitive market for smoke alarms. Kennedy Sons is currently earning short-run positive economic profits. (a) Using correctly labeled side-by-side graphs for the smoke alarm market and Kennedy Sons, indicate each of the […]

Attached is my assignment for my AB224

Microeconomics class- Unit 3. Please highlight answers. Need this ASAP. QUESTION ONE a) No, because it is unattainable. Meaning there are no resources to produce thecombination.The point will be above the current PPF curve where 800 = 5000b) 6000-5000 = 1000… Economics


What is the cooperative outcome? Would the firms make more economic profit if they collude to achieve Question a) What is the cooperative outcome? Would the firms make more economic profit if they collude to achieve the cooperative outcome? b) Describe the characteristics of an oligopoly. c) What market structures other than oligopoly have the […]

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Refer to figure 1.6, Present Choices and Future Locations of Production Possibilities Question 1. Refer to figure 1.6, Present Choices and Future Locations of Production Possibilities Curves: · Which economy, Presentville or Futureville, will experience greater growth? · Why? · How does a societies’ choice between consumer goods and capital goods affects its potential for […]

Which of the following statements is false?In Schumpeter’s view creative destruction could

Question Which of the following statements is false? In Schumpeter’s view, creative destruction could reveal oligopoly as superior in efficiency to perfectly competitive firms In Schumpeter’s view, creative destruction results in perfect competition being the best model of ideal efficiency. In Schumpeter’s view, creative destruction pushes entrepreneurs to develop new products to gain monopoly power […]

1 Multiple linear regression analysis determines thea true value of the population slope

Question 1.Multiple linear regression analysis determines the a. true value of the population slope coefficient. b. linear relationship between the dependent variable and exactly one independent variable. c. linear relationship between the dependent variable and many independent variables. d. true value of the population intercept. 2.Suppose you wish to explain student midterm scores by time […]