295 Answered Questions for the topic microeconomics
If AP = 12L^2 + 5L, find the total output function and the marginal output function.
Related to Advance microeconomics
Demand function 8q+4p=56 find price elasticity and price given $3
Is the demand for an addiction in the short run more elastic or less elastic than demand for an addiction in the long run?
Constant elasticity of demand
Given: Q = aPbFor P0 = 200, b = -1.5, Q0 = 1000, solve for a to get a = 2828427b is the constant elasticity of demandNow suppose P rises to P1=250; for given values of parameters a and b, new value... more
Economics 1 Test Question
A business offers its employees two options for health care coverage, Plan X and Plan Y. Plan X has a lower premium and a higher deductible than Plan Y. Who should choose Plan X for his or her... more
Economics 1 Test
How is the amount of property taxes that a person owes determined? A. The local government levies property taxes based on the person's credit score.B. The state government levies property taxes... more
High school assignment about investment (basic percentages, but also about econ and finance).
Liam and Ben are two friends who started studying the world of Finance and have different expectations for inflation in the coming years. Liam estimates inflation of 5% per year and Ben estimates... more
The notion that the wealth of a nation is more likely to increase if individuals are allowed to pursue their own self-interest in a market economy was first put forth by:Select an answer and... more
Adam Smith's notion of the invisible hand is best summarized by which of the following statements?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an... more
Algebra question about investment (related to economics and percentage)
I have this school activity, I did do it, but my answers did not match! I would really really appreciate it if you could help me by explaining and giving me the answer. God bless you!John, a... more
Value at Risk - statistics/economics
Sophie is a moderate investor who maintains her portfolio of U$50,000.00 with an average daily return of 0.1% and a daily standard deviation of 1.2%.Under these conditions, the maximum daily loss... more
How is this a good and bad thing l?
In a competitive markets, people with highest demand for a good are those that will receive it. How is this a good and bad thing?
Price Elasticity of Demand
Using the price-demand function;𝑥=𝑓(𝑝)=4800−60𝑝 determine the price elasticity of demand when 𝑝=$48
Give that S= -25+0.6Yd derive the consumption function and illustrate the result on a curve.
What is answer for this Microeconomics question?
Over the last year your boss has noticed that it would be useful for your firm to understand how consumers behave when variables in the market change and how these changes affect the total revenue... more
if government considered the market price too high
if government considered the market price too high and passed a law setting the maximum price at $3, what would you expect to be likely result of this intervention?
FOC - Microeconomics
Consumer’s utility function is U=4q^1/3 q^2/3 and the prices for good 1 and good 2 are p1 and p2, respectively. If the consumer uses the Lagrange method to maximize her utility, then the only... more
Two-Part Tariff Pricing Strategy
A firm with market power faces a demand curve given by P = 40 – 2Q and a total cost curve given by TC = 8Q. If the firm uses a two-part tariff, what price should it charge its customers? What is... more
Should carbon dioxide emmissions be controlled through piguovian taxation or through quantity regulation. Why?
What is the shape of a supply curve in a large labor market
A. Upward bending CurveB. Straight, upward-sloping lineC. Step functionD. Horizontal Line
Utility companies routinely ask state commissions for permission to raise utility rates. What does this suggest about the price electricity of DD? Why is demand so in (elastic)?
Assume that the schedule below describes the production possibilities confronting an economy.
Using the information from the table?(a) Draw the production possibilities curve .be sure to label each alternativeoutput combination(A through B)(b) Calculate and illustrate on your graph the... more
I need help with math for socialsciences
Firm’s total cost function is of the form of TC=2Q + 14 (i.e., a firm’s fixed costs are 14 and the variable costs are 2 per unit). The corresponding profit function is of the form 𝜋 = AQ2 + 𝛽Q + F... more
The utility function of a consumer is as follows: U (x; y) = (1 + x) y The prices of goods are P for good X and Q for Y, R the consumer's incomea.Calculate the optimum quantities that maximize... more