Newest microeconomics Questions | Wyzant Ask An Expert

Microeconomics Finance Risk

04/04/19

When does gambling reduce risk?

Suppose that you face risk. It is obvious that taking gambles whose outcomes are negatively correlated with the outcomes of your other gambles can reduce your overall risk ('hedging'). My question,... more

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Microeconomics Utility Welfare

04/04/19

If I gain, then someone else loses. Correct?

On a very small scale, it's certainly true that if I gain, somebody else might lose. If I take away my brother's chocolate, then he will lose it, and will most probably not get anything... more

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Microeconomics

04/03/19

What are examples of microeconomics indicators?

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Microeconomics Taxation Public Economics

04/02/19

Is my logic on taxation for this question legit?

> At Fenway Park, home of the Boston Red Sox, seating is limited to 39,000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue, the City of... more

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Microeconomics Mathematical Economics Applied Econometrics Duality

04/01/19

How accurate is duality?

In economic theory we know that with the use of some calculus, Hotellings Lemma and Sheppards Lemma we can derive a given firms supply function and in term its Profit function.With data of a given... more

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Microeconomics Utility Consumer Theory

04/01/19

Is it possible to derive indifference curves given marshallian demand function?

In a two good world, will a marshallian demand function the likes of `D(p,m)` where p is the price of one good and m the income yield a utility function or indifference curve function? If so, how... more

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Microeconomics Supply And Demand Elasticity Consumer Theory

04/01/19

What are Giffen Goods?

What exactly are Giffen goods and are they of purely theoretical interest or has there been empirical evidence of their existence?

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Microeconomics

03/29/19

What is the measure of the percent change in the quantity of a good demanded divided by the percent change in the price of that good.

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Microeconomics

03/28/19

Partial vs. general equilibrium?

Microeconomic models are usually classified as partial and general equilibrium models. As a layman, I understand that partial equilibrium focuses attention on a few economic variables to find the... more

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Microeconomics Environmental Economics

03/27/19

Is a strong foundation in advanced microeconomic theory essential to study environmental economics at the graduate level?

Advanced theory of individual economic behaviour in production, consumption, and general equilibrium. Are these topics useful to study environmental economics a the graduate level, or is there not... more

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Microeconomics

03/27/19

Why is Microeconomics important?

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Microeconomics Supply And Demand Price Resource Economics

03/27/19

The supply and demand of Virtual Products?

We know that the fundamental economic problem is scarce resources relative to unlimited wants. Does this apply to apps and Ebooks? They are essentially virtual products who have in theory have... more

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Microeconomics

03/26/19

I am confused by barriers to entry - can someone please explain what these are and why they are significant?

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Microeconomics Economics

03/25/19

Leah deposited $50,000 in the bank. Three years later, she borrowed $40,000 for a new truck. From this description, which is the most accurate statement?

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Microeconomics Economics

03/20/19

Please answer the questions below

Based on the firm’s production costs computed in quiz #10 fill out the rest of the table below by computing the firm’s total revenue, marginal revenue and profits at the given rates of output,... more

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Microeconomics Business Macroeconomics

03/19/19

If someone has already borrowed money, why does it matter from his point of view if the Fed fund rates rise?

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Microeconomics Supply And Demand Utility Consumer Theory

03/19/19

Which utility function yields a constant price elasticity of demand function?

How do I know which utility function I can use to find an isoelastic demand function. And similarly, which cost function can I use to find an isoelastic supply function?Does it work through trial... more

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Microeconomics Business Macroeconomics

03/19/19

What are some examples of wasteful competition created by the free market system?

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Microeconomics Business Finance Corporate Finance

03/19/19

Why do companies sit on cash while they have debt?

Why don't they use cash to pay down their debts?

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Microeconomics

03/19/19

What are the key aspects of microeconomics?

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Microeconomics Utility Preferences Micro Data

03/19/19

Selecting the best utility function for households?

I have little to no background in micro, but I'm learning about utility functions. It seems that there are many forms of utility functions for households. In general terms, how does one go on to... more

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Microeconomics Macroeconomics Soft Question Mathematical Economics

03/19/19

Fundamental equations in economics?

For the other sciences it's easy to point to the most important equations that ground the discipline. If I want to explain Economics to a physicist say, what are considered to be the most important... more

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Microeconomics General Equilibrium Self Study

03/19/19

How can I draw an edgeworth box with 3 different goods?

If there are 3 types of goods(x,y,z) and 2 consumers (a,b) how can I draw the Edgeworth box? It must be 3 dimensional, right?Is there a software or online tool that I can use to draw a 3D Edgeworth... more

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Microeconomics Macroeconomics

03/19/19

Seminal papers that later were proven to contain errors?

I was reading on institutions, and I came across Acemoglu, Johnson and Robinson (AJR) paper on [The Colonial Origins of comparative development: An Empirical... more

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Microeconomics Macroeconomics Economic Growth Welfare

03/19/19

on economic growth and Second Welfare theorem?

While I was studying eighth edition of Mankiw's Macroeconomics, in chapter 9 on Economic Growth(pg. 245), the author mentions :**"Some economists have proposed increasing the incentive to save by... more

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When does gambling reduce risk?

If I gain, then someone else loses. Correct?

What are examples of microeconomics indicators?

Is my logic on taxation for this question legit?

How accurate is duality?

Is it possible to derive indifference curves given marshallian demand function?

What are Giffen Goods?

What is the measure of the percent change in the quantity of a good demanded divided by the percent change in the price of that good.

Partial vs. general equilibrium?

Is a strong foundation in advanced microeconomic theory essential to study environmental economics at the graduate level?

Why is Microeconomics important?

The supply and demand of Virtual Products?

I am confused by barriers to entry - can someone please explain what these are and why they are significant?

Leah deposited $50,000 in the bank. Three years later, she borrowed $40,000 for a new truck. From this description, which is the most accurate statement?

Please answer the questions below

If someone has already borrowed money, why does it matter from his point of view if the Fed fund rates rise?

Which utility function yields a constant price elasticity of demand function?

What are some examples of wasteful competition created by the free market system?

Why do companies sit on cash while they have debt?

What are the key aspects of microeconomics?

Selecting the best utility function for households?

Fundamental equations in economics?

How can I draw an edgeworth box with 3 different goods?

Seminal papers that later were proven to contain errors?

on economic growth and Second Welfare theorem?

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