7 Answered Questions for the topic Econ

11/19/21

AP microeconomics question (can someone explain the answer please? thanks!)
To maximize profit, a firm should produce the quantity at which marginal revenue equals marginal cost unless, in the long run, the firm woulda) earn positive accounting profit.b) earn positive... more
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11/18/21

Economics question
Will a decrease in workers change the movement along the supply curve of a good or shift the supply curve? I'm reading an article for my economics class, and I'm confused on how the situation in... more
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11/10/21

Ap economics question (can someone explain to this to me please? thanks <3)
Suppose the seventh carrot you consume provides a marginal utility of 3 utils and the eighth carrot provides a marginal utility of 2 utils. If you consume the eighth carrot your total utility... more
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10/31/21

micro economics question
Suppose there is a decrease in the price of swimsuits and no change in the market demand curve for swimsuits. Who receives the resulting increase in consumer surplus?a) Buyers who did, and who did... more
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10/30/21

Ap Econ question
Which of the following leads to a more inelastic price elasticity of supply?a) a shorter time period in which to supply the goodb) a small demand for the goodc) a high degree of substitutability... more
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10/22/21

economy questions
By convention, a price elasticity of demand of 5 indicates that a 1% increase in price leads to a in the quantity demanded. (Answer is e, but I want to know why it's the answer)a) 0.2% decreaseb)... more
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10/22/21

ap economy question
Which of the following statements is true? (answer is b but please explain why)a) Normal goods and inferior goods differ in regard to the direction of the substitution effect caused by a price... more
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