464 Answered Questions for the topic microeconomics

Microeconomics

02/03/15

Assume the demand for watermelons is downward sloping. An increase in price from $2 per pound to $3 per pound
Assume oil is an input only in the production of petroleum jelly. Which of the graphs in the figure above depicts the resulting shift of the PPC?   A. could have been caused by an increase in... more
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Microeconomics

02/03/15

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,
what is the city's opportunity cost of 1000 miles of roads?   A. $10 million B. 2 miles of light rail C. 20 miles of light rail D. $50 million E. Both [A] and [C] are correct.
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Microeconomics

02/03/15

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,
A. $10 million B. 2 miles of light rail C. 20 miles of light rail D. $50 million E. Both [A] and [C] are correct.
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01/03/15

Need help with inflation / interest rate problem?
I was doing a homework problem on how inflation would affect savers and borrowers, but I don't get how savers would be hurt if they receive a fixed-interest-rate. Suppose that I'm a saver and have... more
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Microeconomics Business Economics Finance

12/02/14

Economics Question: Finding Marginal Costs and Benefits
You are selling your 1996 Mustang. You have already spent $1000 on repairs. At the last minute, the transmission dies. You can pay $600 to have it repaired, or sell the car “as is.” A.) What is... more
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Microeconomics

11/20/14

Microeconomics Written Problem?
Please help! I need to understand thisThe market for peanut butter in Nutville is monopolistically competitive and in long-run equilibrium. One day, consumer advocate Skippy Jif discovers that all... more
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Microeconomics

11/20/14

Microecomics HELP?!?!?!?
The market for fertilizer is perfectly competitive. Firms in the market are producing output, but are currently making economic losses.1. How does the price of fertilizer compare to the average... more
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Microeconomics

11/15/14

When marginal revenue is less than zero
When marginal revenue is less than zeroA) the firm cannot be maximizing profits. B) total revenue is declining with increases in output. C) demand is inelastic. D) decreases in output will increase... more
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Microeconomics

10/27/14

Allocate production among two firms
1. Beta Inc. has two production facilities in two different towns that use labor to produce its final product. The marginal product of labor at plant 1 is MPL1 = 100/L1 and MPL2 = 50/L2. A. Beta... more
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Microeconomics

10/16/14

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
I really need help with this!
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Microeconomics

06/25/14

how to calculate the domestic price of a good. given the world price, tariff, supply, demand and elasticity of demand.
Need help answering this question asap. 
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Microeconomics

06/04/14

Would shifting Medicare at least partly from a reimbursement service to a defined-benefit plab be a good idea?
 I need to know if it would be a good idea or bad idea.
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Microeconomics

05/02/14

What are the steps to be done?
Uzbekistan’s Production Possibilities Frontier Azerbaijan’s Production Possibilities Frontier  Without trade, Uzbekistan produced and consumed 12 bolts and 36 nails and Azerbaijan produced and... more
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Microeconomics

05/02/14

What are the steps to be done?
Suppose that a worker in Agland can produce either 10 units of organic grain or 2 units of incense per year, and a worker in Zenland can produce either 5 units of organic grain or 15 units of... more
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