292 Answered Questions for the topic microeconomics

10/28/20

Answer true or false, with a brief explanation.

Answer true or false, with a brief explanation.1. Monopolies are always bad for consumers.2. The supply curve of a monopolist is upward sloping.3. Monopolies charge the highest price a consumer is... more
Microeconomics Economics Optimization

10/10/20

Find the demands for goods X and Y for agent

Agent B's preferences are given by:U (x,y) = y - ((x)^(-2))/2Which are quasi-linear preferencesBudget constraint is -> x*p +y = 10(Since p= price of good x, and Price of good y is normalized to... more

10/09/20

Finding the New Level of Quantity Demanded

Consider the following hypothetical market. The equilibrium price is $10 and the equilibrium quantity is 20 units. The own-price elasticity of demand is -0.5 and the own-price elasticity of supply... more
Microeconomics Economics

09/25/20

Maximizing Tax Revenue Given Supply and Demand!

PS=10+QSPD=100-2QDIf the government imposes a per-unit (excise) tax in this market, what is the maximum tax revenue that the government can collect?
Microeconomics

09/24/20

How do you find an equal combination of goods, when given an indifference curve?

Suppose your utility function for food (F) and clothing (C) is U(F,C) = F + 4C. If you reduce your clothing consumption by 2 units, how much do you have to increase your food consumption in order... more
Microeconomics

09/23/20

What is the difference between supply and quantity supplied?

How do you differentiate between supply changes and just changes in quantity sold?

09/08/20

Consumer and Producer Surplus using only algebra to calculate

Calculate the consumer and producer surplus in the following market:Inverse Demand function: P = -2Q + 120 Supply function: P = 0.5Q + 20

09/08/20

Consumer and Producer Surplus using algebra to calculate

Calculate the consumer and producer surplus in the following market:Inverse Demand function: P = -Q + 12 Supply function: P = 2Q + 6
Microeconomics Economics

07/23/20

How do you find a firm's best response function in an oligopsonistic labor market.

I was given a hint regarding monopsonies, but not sure how it would help. How would I maximize profit, do you assume their is 1 firm or 2?
Microeconomics Demand Question

06/26/20

Microeconomics question about the increasing in demand

Consider the demand for apples. If the prices of a substitute good(bananas) increases and the price of a complement good (apple pie) increases, can you tell for sure what will happen to the demand... more

06/18/20

Market entry with Cournot/Stackelberg: Demand function

Hello,I have to create an own problem set concerning Market entry with Cournot / Stackelberg.I should not use a linear inverse demand function (i.e. P(Q) = a - bQ) and was wondering what other type... more
Microeconomics

06/09/20

Correct the statement

Demand increases, causing prise to rise, higher price cause demand to fall. Therefore, price fall back to their original levels
Microeconomics Economics

05/16/20

calculate market equilibrium and quanitiy

Suppose the demand for a unit of CO2is P = 120 – 0.1QDand the supply is         P = 15 + 0.04QS, where P is the price per unit, QDis the quantity demanded in units per day, and QSis the quantity... more

05/01/20

Find the first and second derivatives of M with respect to X

 M = 9X4 - 12 X 9 + 25 X Y Z + 50
Microeconomics

04/25/20

What is the maximum revenue and the set of prices that will increase revenue/profit?

Consider a retailer selling a single item. Based on past experience, management estimates the relationship between demand, D, and price, p, by the linear function D = 2,000 – 0.6p. At... more
Microeconomics Economics

04/17/20

what is the most of each good that Canadians can consume when the economy is open?

Two Canadians workers, Sam and Joe, can each produce tv or coffee. Sam can produce either 50 kg of coffee or 1 tv per month. and Joe can produce either 120 kg of coffee or 1 tv per month. f)... more
Microeconomics Economics

04/17/20

international trade

Two Canadians workers, Sam and Joe, can each produce tv or coffee. Sam can produce either 50 kg of coffee or 1 tv per month. and Joe can produce either 120 kg of coffee or 1 tv per month. f)... more
Microeconomics Economics

04/13/20

Please Help Solve elasticity Problem

a) Suppose the price of flour increases from $0.80 to $1.00 a pound and the quantity demandeddecreases from 100 pounds to 95 pounds. What is the price elasticity of demand for flour? Is thedemand... more
Microeconomics

04/08/20

Factories get closed due to coronavirus pandemic. What will happen to the market of food items

Using supply and demand diagram together to illustrate the effect on equilibrium price and quantity my question is if Factories get closed due to coronavirus pandemic. What will happen to the... more
Microeconomics

04/06/20

Consumers tend to maximize utility when the last dollar spent on an item is equalized

True or false if false need explanation
Microeconomics

04/06/20

Industries like the airlines with a high-income elasticity of demand experience tremendous volatility when income increases and decreases

True of false if false need explanation
Microeconomics

04/06/20

Price increases result in a an increase in total surplus

True of false if false needs an explanation
Microeconomics

04/06/20

If the government wished to burden consumers with an excise tax, it would place the tax on a product that has an elastic demand

True or false question with an explanation.
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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