341 Answered Questions for the topic microeconomics

Microeconomics Economics Macroeconomics


opportunıty costs

You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your most attractive alternative. Tickets to see Dylan cost $40,... more
Microeconomics Economics Economy Econ


AP microeconomics question (can someone explain the answer please? thanks!)

To maximize profit, a firm should produce the quantity at which marginal revenue equals marginal cost unless, in the long run, the firm woulda) earn positive accounting profit.b) earn positive... more
Microeconomics Economics Econ Ap Economics


Economics question

Will a decrease in workers change the movement along the supply curve of a good or shift the supply curve? I'm reading an article for my economics class, and I'm confused on how the situation in... more
Microeconomics Economics Econ Ap Economics


Ap economics question (can someone explain to this to me please? thanks <3)

Suppose the seventh carrot you consume provides a marginal utility of 3 utils and the eighth carrot provides a marginal utility of 2 utils. If you consume the eighth carrot your total utility... more
Microeconomics Economics Economy Ap Economics


ap economics question (can someone explain why? thanks)

Which of the following is the most likely to be a regressive tax?a) a sales tax on all goodsb) a tax of $1,000 per personc) a personal income tax of 25% on all incomed) a personal income tax of 15%... more


ap econ question

An excise tax drives a wedge between the supply price and the demand price with a height equal to:a) the demand price of the good.b) the pre-tax price of the good.c) the total tax revenue collected... more
Microeconomics Economics Economy Ap Economics


ap micro econ question (can someone explain this to me?)

A second of which of the following is the most likely to provide more marginal utility than the first?a) mailboxb) t-shirtc) shoed) care) refrigerator


Economic profit

Assume that marginal revenue equals rising marginal cost at 100 units of output. At this output level, a firm's average total cost is $11 and its total variable cost is $600. If the price of the... more


Does Perfect Competitive Market have a deadweight loss?

Microeconomics Economics Economy Econ


micro economics question

Suppose there is a decrease in the price of swimsuits and no change in the market demand curve for swimsuits. Who receives the resulting increase in consumer surplus?a) Buyers who did, and who did... more
Microeconomics Economics Econ Ap Economy


Ap Econ question

Which of the following leads to a more inelastic price elasticity of supply?a) a shorter time period in which to supply the goodb) a small demand for the goodc) a high degree of substitutability... more
Microeconomics Economics Macroeconomics


help on a basic econ question.

Suppose U.S nominal GDP increases from one year to the next year. Can you conclude that these figures present a misleading measure of economic growth? What alternative method would provide a more... more


what is the consumer surplus, the producer surplus and the total surplus of the supply and demand curves

Qd=152 - 5PQs= 3P calculate the customer surplus calculate producer surplus calculate total surplus
Microeconomics Economics Economy Econ


economy questions

By convention, a price elasticity of demand of 5 indicates that a 1% increase in price leads to a in the quantity demanded. (Answer is e, but I want to know why it's the answer)a) 0.2% decreaseb)... more
Microeconomics Economics Economy Econ


ap economy question

Which of the following statements is true? (answer is b but please explain why)a) Normal goods and inferior goods differ in regard to the direction of the substitution effect caused by a price... more
Microeconomics Accounting Economics Finance


I need help my financial homework ASAP

A planned 5-year project in company ABC has an expected annual inflow of 20,000 $ in year 1 30,000 $ in year 2 28,000 $ in year 3 20,000 $ in year 4 8,000 $ in year 5 The project will require an... more


Help with least cost production decision for firm using calculus solution

Suppose a firm’s production function is given by F(K, L) = K3/5 * L2/5. The rental rate ofcapital (r) is $8 per unit and the wage rate (w) is $20 per unit. What is the firm’s optimal capital-labor... more


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


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
Microeconomics Economics


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
Microeconomics Economics


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
Microeconomics Economics Macroeconomics


Econ Questions?

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

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