293 Answered Questions for the topic microeconomics
Using the table below, what is the firm's optimal output level?
If total product is decreasing, marginal product is
Assuming the firm is a profit maximizer, what are the firm's total profits?
Assume that marginal revenue equals rising marginal cost at 100 units of output.
In the table below, if for an output of 11 units the average variable cost is $52,
In the table below, when total output is 8 units, the average variable cost is
Assume that one laborer produces 6 units of output, two laborers produce 14 units, three produce 20 units, and four produce 24 units.
If marginal product is 8 units and average product is 4 units, the next worker will cause
While total product is increasing, marginal product is?
Assume that at the current market price of $4 per unit of a good, you are willing and able to buy 30 units.
A freeze in Peru causes the price of coffee to skyrocket. Assuming coffee and tea are substitutes, which of the following will happen?
The city of Austin can buy roads or light rail. If 10 miles of roads cost $1 million and 2 miles of light rail cost $10 million,
Need help with inflation / interest rate problem?
Economics Question: Finding Marginal Costs and Benefits
Allocate production among two firms
Which of the following does not belong on an axis of a production possibilities frontier graph? a) bread b) wheat c) medical services d) land e) air
how to calculate the domestic price of a good. given the world price, tariff, supply, demand and elasticity of demand.