292 Answered Questions for the topic microeconomics

03/30/20

Express your opinion on how you would feel about government regulation and intervention on your own monopolistic firm.

After identifying a monopoly you are now an acting owner of a monopolistic firm. Express your opinion on how you would feel about government regulation and intervention on your own monopolistic... more

03/24/20

The price elasticity of demand for medical devices is about -0.25 to -.30.

The price elasticity of demand for medical devices is about -0.25 to -.30. Suppose you were an economist for the medical device industry. How could you use this information to help forecast... more

03/24/20

For the demand equation, P = 2,000 – 2Q, answer the following:

For the demand equation, P = 2,000 – 2Q, answer the following:a. What is the vertical intercept? b. What is the horizontal intercept? Must show calculations. c. What is the slope?
Microeconomics

03/23/20

Using the table above, if this were a competitive industry rather than a monopoly, what would be the price of the product?

      A Monopoly Firm Quantity Sold Price per Unit Marginal Cost 0 $17   1 16 $4 2 15 6 3 14 8 4 13 10 5 12 12 6 11 14 7 10 16 Using the table above, if this were a competitive... more
Microeconomics Economics Macroeconomics

03/19/20

Economics question

How does Institutional Economics and Keynesian Economics critique Neoclassical Economics?
Microeconomics Economics

02/11/20

What is the deadweight loss of a firm with the demand function p=100000-2q and a constant marginal cost of $2.

I am currently getting $625million as the answer, but I don't think that's right.
Microeconomics

02/06/20

ECONOMICS ASSIGNMENT

Farmers in a country usually produced 100,000 bushels of soya beans per year at a market price of #50. The demand for this year is 150,000; this shortage led to a rise in price from #50 to #90. At... more
Microeconomics

02/04/20

If the National economy shrink at an annual rate of 2% per year for four consecutive years then the economy shrink by 8% over the for year period. How much did the Economy shrink by ? (percentage)

If the National economy shrink at an annual rate of 2% per year for four consecutive years then the economy shrink by 8% over the for year period. How much did the Economy shrink by ? (percentage)
Microeconomics Economics Macroeconomics

01/29/20

Should U.S. policymakers be concerned about income inequality?

Yes or no explain. What do you think?
Microeconomics Economics Macroeconomics

01/22/20

I don't understant this paragraph. ECON 201

I read this paragraph many times, but I still don't understand what is it talking about."Since governments perform all of these society-enhancing functions, in large measure governments reflect the... more
Microeconomics

01/16/20

Advanced Placement Microeconomics

Assume that a firm uses capital as a fixed factor of production and uses labor as a variable factor. The marginal product of labor at first increases and then decreases with the amount of labor.(a)... more
Microeconomics

01/10/20

Which of the following best describes the concept of Nash Equilibrium?

Which of the following best describes the concept of Nash Equilibrium?a. The outcome when both players have dominant strategies onlyb. The outcome when both players have mixed strategies onlyc. The... more
Microeconomics

01/10/20

Which of the following would make a market MORE competitive?

Which of the following would make a market MORE competitive? a. fi􏰃rms exiting the market due to negative pro􏰃fitsb. one 􏰃rm in a market innovates and patents their innovationc. 􏰃firms enter a... more
Microeconomics

01/10/20

Monopolies and 􏰃firm mergers have historically been regulated in the U.S. by laws called...

Monopolies and 􏰃firm mergers have historically been regulated in the U.S. by laws called... a. insider trading lawsb. anti-trust lawsc. anti-dumping lawsd. tari􏰂ffs
Microeconomics

01/10/20

When we say that a fi􏰃rm has 'monopoly power' we imply the fi􏰃rm can...

When we say that a fi􏰃rm has 'monopoly power' we imply the fi􏰃rm can... a. produce at zero costb. produce many di􏰂erent goodsc. set their own pricesd. ignore government regulators
Microeconomics

01/10/20

The demand curve facing a perfect competitor is perfectly elastic. This implies the 􏰃firm is a 􏰁􏰀

The demand curve facing a perfect competitor is perfectly elastic. This implies the 􏰃firm is a 􏰁􏰀a. price makerb. dying 􏰃rmc. price takerd. not-for-pro􏰃t 􏰃rm
Microeconomics

01/10/20

What is true of firm costs in the short-run?

What is true of firm costs in the short-run?a. they are variableb. they are fixedc. some are variable and some are fixedd. there are no costs in the short-run 
Microeconomics

01/10/20

Which of the following rankings illustrates the level of competition increasing from left (least compet- itive) to right (most competitive)?

Which of the following rankings illustrates the level of competition increasing from left (least compet-itive) to right (most competitive)?a. perfect competition ! monopolistic competition !... more
Microeconomics

01/06/20

Microeconomics (Labor & Wages) Units of Labor/Total Output/Product Price

Labor and Wages The following chart provides information on a firm that hires labor competitively and sells its product in a competitive market. Units of Labor Total Output Product... more
Microeconomics Calculus Economics Game Theory

01/06/20

Positive externalities, public goods, game theory, Pigouvian Taxes and The NBA and extra credit question.

This is an extra credit part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes... more
Microeconomics Calculus Economics Game Theory

01/06/20

Positive Externalities, Public goods, Pigouvian Taxes and Subsidies Game theory and The NBA part 7.

This is the 7th part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more

01/06/20

Positive Externalities, Public Goods, Pigouvian tax and subsidy schemes game theory and the NBA part 6

This is the sixth part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more
Microeconomics Calculus Economics Utility

01/06/20

Positive Externalities, Public Goods, Game Theory Cournot-Nash Equilibria Pigouvian Taxes and Subisidies and the NBA part 5

This is  the fifth part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more

01/06/20

Positive Externalities, Public Goods, Pigouvian Taxes and Subsidies, Game Theory and the NBA part 4

This is the fourth part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more

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