342 Answered Questions for the topic microeconomics
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
Adam Smith's notion of the invisible hand is best summarized by which of the following statements?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an... more
Algebra question about investment (related to economics and percentage)
I have this school activity, I did do it, but my answers did not match! I would really really appreciate it if you could help me by explaining and giving me the answer. God bless you!John, a... more
Value at Risk - statistics/economics
Sophie is a moderate investor who maintains her portfolio of U$50,000.00 with an average daily return of 0.1% and a daily standard deviation of 1.2%.Under these conditions, the maximum daily loss... more
How is this a good and bad thing l?
In a competitive markets, people with highest demand for a good are those that will receive it. How is this a good and bad thing?
Price Elasticity of Demand
Using the price-demand function;𝑥=𝑓(𝑝)=4800−60𝑝 determine the price elasticity of demand when 𝑝=$48
Give that S= -25+0.6Yd derive the consumption function and illustrate the result on a curve.
What is answer for this Microeconomics question?
Over the last year your boss has noticed that it would be useful for your firm to understand how consumers behave when variables in the market change and how these changes affect the total revenue... more
if government considered the market price too high
if government considered the market price too high and passed a law setting the maximum price at $3, what would you expect to be likely result of this intervention?
FOC - Microeconomics
Consumer’s utility function is U=4q^1/3 q^2/3 and the prices for good 1 and good 2 are p1 and p2, respectively. If the consumer uses the Lagrange method to maximize her utility, then the only... more
Two-Part Tariff Pricing Strategy
A firm with market power faces a demand curve given by P = 40 – 2Q and a total cost curve given by TC = 8Q. If the firm uses a two-part tariff, what price should it charge its customers? What is... more
Should carbon dioxide emmissions be controlled through piguovian taxation or through quantity regulation. Why?
What is the shape of a supply curve in a large labor market
A. Upward bending CurveB. Straight, upward-sloping lineC. Step functionD. Horizontal Line
Utility companies routinely ask state commissions for permission to raise utility rates. What does this suggest about the price electricity of DD? Why is demand so in (elastic)?
Assume that the schedule below describes the production possibilities confronting an economy.
Using the information from the table?(a) Draw the production possibilities curve .be sure to label each alternativeoutput combination(A through B)(b) Calculate and illustrate on your graph the... more
I need help with math for socialsciences
Firm’s total cost function is of the form of TC=2Q + 14 (i.e., a firm’s fixed costs are 14 and the variable costs are 2 per unit). The corresponding profit function is of the form 𝜋 = AQ2 + 𝛽Q + F... more
The utility function of a consumer is as follows: U (x; y) = (1 + x) y The prices of goods are P for good X and Q for Y, R the consumer's incomea.Calculate the optimum quantities that maximize... more
AP Macro Questions Pls Help
In a paragraph explain what aggregate demand and aggregate supply are and give an example illustrating how each work. In a second paragraph, explain how aggregate demand and supply are different... more
Consider a production function of the formf(x1,x2) = x1α + x2αwith 0 < α.1. For which values of α will this exhibit constant, increasing and decreasing Returns to Scale? 2. What... more
Define dead weight loss of a tax. How do the elasticities of supply and demand affect the deadweight loss of a tax?
Ap Macro Question Pls Help!
Identify the type of unemployment that would be present if each of the following individuals was actively looking for work. Explain. Caroline lost her job when the mortgage company she worked for... more
What is the marginal cost when output is 60?
Use the cost table below to find the following marginal costs.Output Quantity Total Variable Cost Total fixed cost Total cost ... more
Monopoly monopolistic competition and perfect competition
do the firms in monopoly monopolistic competition and perfect competition spends any kind of money to advertise their products?
What types of Elasticities of Demand can affect the willingness to buy a product?
Hint: This is relevant to Olevel / Alevel / IGCSE/ GCE/ AQA Economics
How do you calculate opportunity cost of attending college when given tuition, books and working time?
If college tuition is $2,000 this semester, books cost $400 and you can only work 10 hours rather than 40 during a 15 week semester, what is your opportunity cost of attending college?