460 Answered Questions for the topic microeconomics

Microeconomics

04/03/20

If a firm is experiencing diseconomies of scale, its long-run average cost curve is upward sloping.
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Microeconomics

04/02/20

I need help on two questions
2.22 Maureen just graduated from Rowan University with a degree in Finance, and has just moved to Manhattan in search of employment in investment banking. How has this impacted her elasticity of... more
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03/30/20

Express your opinion on how you would feel about government regulation and intervention on your own monopolistic firm.
After identifying a monopoly you are now an acting owner of a monopolistic firm. Express your opinion on how you would feel about government regulation and intervention on your own monopolistic... more
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03/24/20

The price elasticity of demand for medical devices is about -0.25 to -.30.

The price elasticity of demand for medical devices is about -0.25 to -.30. Suppose you were an economist for the medical device industry. How could you use this information to help forecast... more
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03/24/20

For the demand equation, P = 2,000 – 2Q, answer the following:
For the demand equation, P = 2,000 – 2Q, answer the following:a. What is the vertical intercept? b. What is the horizontal intercept? Must show calculations. c. What is the slope?
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Microeconomics

03/23/20

Using the table above, if this were a competitive industry rather than a monopoly, what would be the price of the product?
      A Monopoly Firm Quantity Sold Price per Unit Marginal Cost 0 $17   1 16 $4 2 15 6 3 14 8 4 13 10 5 12 12 6 11 14 7 10 16 Using the table above, if this were a competitive... more
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Microeconomics Economics Macroeconomics

03/19/20

Economics question
How does Institutional Economics and Keynesian Economics critique Neoclassical Economics?
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Microeconomics Economics

02/19/20

Compare the pricing models for three different types of service businesses: 1) A legal firm 2) A restaurant 3) A college
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Microeconomics Economics

02/11/20

What is the deadweight loss of a firm with the demand function p=100000-2q and a constant marginal cost of $2.
I am currently getting $625million as the answer, but I don't think that's right.
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Microeconomics

02/06/20

ECONOMICS ASSIGNMENT

Farmers in a country usually produced 100,000 bushels of soya beans per year at a market price of #50. The demand for this year is 150,000; this shortage led to a rise in price from #50 to #90. At... more
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Microeconomics

02/04/20

If the National economy shrink at an annual rate of 2% per year for four consecutive years then the economy shrink by 8% over the for year period. How much did the Economy shrink by ? (percentage)
If the National economy shrink at an annual rate of 2% per year for four consecutive years then the economy shrink by 8% over the for year period. How much did the Economy shrink by ? (percentage)
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Microeconomics Economics Macroeconomics

01/29/20

Should U.S. policymakers be concerned about income inequality?
Yes or no explain. What do you think?
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Microeconomics Economics Macroeconomics

01/22/20

I don't understant this paragraph. ECON 201
I read this paragraph many times, but I still don't understand what is it talking about."Since governments perform all of these society-enhancing functions, in large measure governments reflect the... more
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Microeconomics

01/16/20

Advanced Placement Microeconomics

Assume that a firm uses capital as a fixed factor of production and uses labor as a variable factor. The marginal product of labor at first increases and then decreases with the amount of labor.(a)... more
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Microeconomics

01/10/20

Which of the following best describes the concept of Nash Equilibrium?
Which of the following best describes the concept of Nash Equilibrium?a. The outcome when both players have dominant strategies onlyb. The outcome when both players have mixed strategies onlyc. The... more
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Microeconomics

01/10/20

Which of the following would make a market MORE competitive?
Which of the following would make a market MORE competitive? a. fi􏰃rms exiting the market due to negative pro􏰃fitsb. one 􏰃rm in a market innovates and patents their innovationc. 􏰃firms enter a... more
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Microeconomics

01/10/20

Monopolies and 􏰃firm mergers have historically been regulated in the U.S. by laws called...

Monopolies and 􏰃firm mergers have historically been regulated in the U.S. by laws called... a. insider trading lawsb. anti-trust lawsc. anti-dumping lawsd. tari􏰂ffs
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Microeconomics

01/10/20

When we say that a fi􏰃rm has 'monopoly power' we imply the fi􏰃rm can...

When we say that a fi􏰃rm has 'monopoly power' we imply the fi􏰃rm can... a. produce at zero costb. produce many di􏰂erent goodsc. set their own pricesd. ignore government regulators
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Microeconomics

01/10/20

The demand curve facing a perfect competitor is perfectly elastic. This implies the 􏰃firm is a 􏰁􏰀
The demand curve facing a perfect competitor is perfectly elastic. This implies the 􏰃firm is a 􏰁􏰀a. price makerb. dying 􏰃rmc. price takerd. not-for-pro􏰃t 􏰃rm
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Microeconomics

01/10/20

What is true of firm costs in the short-run?
What is true of firm costs in the short-run?a. they are variableb. they are fixedc. some are variable and some are fixedd. there are no costs in the short-run 
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Microeconomics

01/10/20

Which of the following rankings illustrates the level of competition increasing from left (least compet- itive) to right (most competitive)?
Which of the following rankings illustrates the level of competition increasing from left (least compet-itive) to right (most competitive)?a. perfect competition ! monopolistic competition !... more
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Microeconomics

01/06/20

Microeconomics (Labor & Wages) Units of Labor/Total Output/Product Price
Labor and Wages The following chart provides information on a firm that hires labor competitively and sells its product in a competitive market. Units of Labor Total Output Product... more
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Microeconomics Calculus Economics Game Theory

01/06/20

Positive externalities, public goods, game theory, Pigouvian Taxes and The NBA and extra credit question.
This is an extra credit part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes... more
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Microeconomics Calculus Economics Game Theory

01/06/20

Positive Externalities, Public goods, Pigouvian Taxes and Subsidies Game theory and The NBA part 7.
This is the 7th part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more
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01/06/20

Positive Externalities, Public Goods, Pigouvian tax and subsidy schemes game theory and the NBA part 6
This is the sixth part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more
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